Kelly Property Companies (Plymouth) Ltd goes into liquidation owing greater than £144k and has left a County Courtroom judgement excellent
A Plymouth constructing agency went bust leaving a £64,000 County Courtroom judgement unpaid amongst claims totalling greater than £144,000. Tamerton Foliot-based Kelly Property Companies (Plymouth) Ltd is now in liquidation and likewise owes £65,853 to Barclays Financial institution.
The corporate was this month ordered to pay £60,736, plus curiosity and £3,000 in prices, to a claimant by the County Courtroom Cash Claims Centre. It’s understood this judgement in default pertains to constructing work carried out on a home in Plymouth.
Kelly Property Companies (Plymouth) Ltd was run by Gary Kelly, aged 36. PlymouthLive has contacted Mr Kelly however he mentioned he had spoken to liquidators and had been suggested to not remark.
The corporate, of which he was the only real director, was included in 2014 for the “improvement of constructing tasks”. Its most up-to-date accounts, for the 12 months to April 2020, reveal it employed eight folks.
The enterprise held conferences with collectors in September and October 2022 and appointed liquidators in October, passing a decision to voluntarily wind up the corporate. Paperwork filed at Firms Home confirmed it had simply £6,000 within the financial institution however confronted claims of £144,614.
A declare from the taxman for £2,595 can be paid, leaving simply £3,405 for the opposite claimants. This contains the sum owed to Barclays and the excellent County Courtroom judgement. The assertion of affairs doc reveals there may be more likely to be a shortfall of £138,614 for collectors.
Mr Kelly is now a director of a separate Plymouth agency, additionally concerned within the “improvement of constructing tasks”. Kelly Developments (SW) Ltd, based mostly in Estover, was included in Could 2021 and is because of file its first set of accounts by the top of February 2023.
Kelly Property Companies is simply the newest metropolis building agency to go stomach up up to now two years. Simply this month, Terry Jewell Plastering and Constructing Contractors Ltd, based mostly in Efford, which had appointed liquidators, filed paperwork revealing it had not a penny to its identify.
The corporate, which was concerned in home constructing, was solely included in March 2021, however its LinkedIn web page mentioned it had been working since March 2003. Paperwork filed at Firms Home reveal it owed greater than £100,000 which is unlikely to be paid. Of that sum £28,090 is owed to the tax man and Barclays Financial institution Plc is claiming £44,887.
In August A&P Property Builders Ltd, registered in London however which traded from an deal with in Plympton, went into liquidation with no property and money owed of greater than £20,000. The overwhelming majority of that, £19,269, was owed to Plymouth Metropolis Council’s Strategic Planning and Infrastructure division.
In August Crownhill-based Karl Thomas Flooring Ltdwent into liquidation with money owed of £64,857 that are unlikely to be paid. The unbiased flooring and wall protecting firm, which labored throughout the entire UK from its Plymouth base, was wound up voluntarily and had simply £200 in its checking account.
In September it was revealed that Plymouth’s Urbn Development Ltdwent into liquidation with “inadequate funds” to pay money owed of £3.5m. Additionally this 12 months, Highgrove Property Companies Ltd, which operated from North Hill, went into liquidation owing cash to its financial institution, the taxman and several other small metropolis building corporations. Its whole money owed had been £1.3m that are unlikely to be paid.
Neal Stoneman Scaffolding Ltd additionally went beneath owing virtually £1.5m which is unlikely to be paid. Full Constructing Developments Ltd additionally entered liquidation with £200,000 in money owed and with out sufficient money to pay workers, its personal director or a £44,000 Bounce Again Mortgage.
Prior to now 12 months Plymouth has additionally misplaced Eliot Design and Construct, which had no money to pay money owed of almost £4m. The large Exeter-headquartered however Plymouth-active Midas Group additionally went into administration with greater than £53m in money owed and the chance there gained’t be sufficient money to settle the huge bulk of them.
In September it was revealed investigations have begun after Henry W Pollard and Sons Ltdwent bust leaving hardly any money to pay £15m in money owed and an enormous black gap in its pension fund. Liquidators checking out the affairs of the Bridgwater and Plymouth firm, which had been in enterprise for 161 years earlier than it went stomach up in 2021, despatched a confidential report on the administrators’ behaviour to the Authorities and are probing “alleged pension-related misrepresentations within the firm’s monetary statements.”
The most recent Purple Flag Alert report from enterprise consultants at Begbies Traynor confirmed greater than 200 Plymouth building corporations had been in monetary dire straits. The report revealed 1,245 Plymouth firms had been in important monetary misery in Q3 2022, up 3% on Q2 this 12 months. Development firms are struggling essentially the most in Plymouth with companies on this sector making up 18% of all corporations in important misery, adopted by actual property and property (16%) and help providers (11%).
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