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Administration · 11 May 2022

Urban Splash House Holdings

Developer · Manchester · North West England

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What happened

URBAN SPLASH HOUSE HOLDINGS LIMITED (company number 11705899), incorporated in 2018, entered administration on 11 May 2022. Its status at Companies House is now: liquidation.

Why it failed

The group's modular factory made prolonged losses from under-use and design defects, planning delays added cost overruns, and the shareholder would not provide the funding needed for the shortfall.

  • Main reason: Losses on contracts
  • Delays
  • Funding withdrawn
  • Cash flow

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.

Previously known as: URBAN SPLASH NEWCO THREE LIMITED.

Timeline

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

  1. 30 September 2020

    Last accounts filed were made up to this date

    20 months later

  2. 11 May 2022

    Administration started

    2 years later

  3. 20 May 2024

    Administration ended

  4. 20 May 2024

    Creditors' voluntary liquidation started (shareholders resolved to wind up)

AccountsPayment reportInsolvency

Before it failed

Key figures

Turnover in its last accounts, year to Sept 2020
£10.7m
Accounts at Companies House
Loss before tax, year to Sept 2020
£12.7m
Accounts at Companies House
Staff, year to Sept 2020
109
Accounts at Companies House
Net assets, year to Sept 2020
£44.7m
Accounts at Companies House
Owed to unsecured creditors (estimated), as at 11 May 2022
£8.3m
about 34 creditors. HMRC owed £126k. Expected return to unsecured creditors: a payment likely, amount not yet known
Administrators' proposals

The last accounts filed were group accounts made up to 30 September 2020, 19 months before it went into administration.

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

Lessons learned report

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In the news

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