Administration · 26 March 2025

Sheen Lane Developments

Housebuilder · London · Greater London

What happened

SHEEN LANE DEVELOPMENTS LIMITED (company number 08491696), incorporated in 2013, entered administration on 26 March 2025. Its status at Companies House is now: administration.

Why it failed

The director blamed c£9.5m of losses on a lender refusing consent to let and appointing receivers over three property vehicles; a creditor petition and unfunded trading forced administration.

Main reason: Funding withdrawn
Cash flow
Cost inflation

Our summary of the reasons given in the administrators' proposals. These record the administrators' and directors' account of what happened.

An administrator, a licensed insolvency practitioner, takes control of the company to try to rescue it, sell the business or get a better result for creditors than a liquidation.

Timeline

The last accounts and payment report before the failure, then what happened, with the time between each.

30 April 2023
Last accounts filed were made up to this date
23 months later
26 March 2025
Administration started

AccountsPayment reportInsolvency

Before it failed

Key figures

Turnover in its last accounts, year to Apr 2023: £50.5m; Accounts at Companies House
Loss before tax, year to Apr 2023: £27.0m; Accounts at Companies House
Staff, year to Apr 2023: 22; Accounts at Companies House
Net liabilities, year to Apr 2023: £8.7m; Accounts at Companies House
Owed to unsecured creditors (estimated), as at 26 March 2025: £41.0m; of which trade creditors £16.0m. HMRC owed £529k. a further £857k owed to its lenders. Expected return to unsecured creditors: about 0.1p in the pound; Administrators' proposals (includes £16m owed to associated companies and people)

The last accounts filed were group accounts made up to 30 April 2023, 23 months before it went into administration. Private companies have nine months after their year end to file, so a gap of more than 21 months usually means the next accounts were overdue, one of the warning signs worth checking for.

The full filing history, including any late filings, charges and director changes, is on Companies House.

Lessons learned report

We're writing plain-English reports on major construction failures: who was involved, why it happened, the warning signs and how long they were visible, and what to look out for next time.

In the news

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