Future Life
Abbreviations
- FL All - Future Life All Limited
- FLS (A)- Future Lifestyles (A) Limited
- FLSL- Future Life Support Limited
- FLL- Future Life Limited
- FLGL- Future Life Group Limited
- FLSGL- Future Lifestyles Group Limited
Background
The Companies were part of a group of companies ("the Group") which were set up and operated as care homes. The Group was purchased out of the administration of European Care Group in 2014 and continued to operate a string of care homes for the elderly and disabled, children and young adults.
FLGL is the ultimate holding company of the Group, with FL All being its main trading company. The group was funded by a combination of shareholder loans and bank borrowing. As at 30 June 2016,borrowings included shareholder loans of £98.1m and bank borrowings of £32.7m.
As a result of the Group not generating the anticipated returns to shareholders, the decision was made by the investor shareholders to exit the market and sell the Group. Following a number of business sales, the bank borrowings were repaid, however the shareholder loan notes remain outstanding.
In April 2017, PwC was engaged to assist with the wind down of the remaining Group structure, in total 51 entities remained. Emma Cray and David Matthew Hammond were subsequently appointed as solvent liquidators of a number of the entities.
On 1 February 2018 Michael Thomas Denny and David Matthew Hammond were appointed as liquidators in respect of the Companies. Immediately on our appointment, we secured and took control of the Companies' assets.
Change of liquidators
Mike Denny, one of the previous joint liquidators, has left the firm. To make sure that outstanding issues in the liquidations continued to be pursued, an application was made to the Court to remove him and appoint Edward Williams as joint liquidator. Edward Williams is licensed in the United Kingdom to act as an insolvency practitioner by the Institute of Chartered Accountants in England and Wales. The application was granted and so Edward Williams replaced Mike Denny as joint liquidator with effect from 4 January 2021.
Closure
On 6 June 2024, the Joint Liquidators ceased to act as Liquidators of FLS(A), FLSL, FLGL and FLSGL.
On 16 October 2024, the Joint Liquidators issued their final accounts in respect of FLA and FLL.
USEFUL DOCUMENTS
Future Life Limited :
Revised Remuneration Report & Notice to creditors seeking decisions by correpondence- Future Life Limited- April 2024
Notice to creditors seeking decisions by correspondence
Revised Remuneration Report- Future Life Limited- November 2022
Initial Remuneration Report- Future Life Limited - 23 February 2018
All Companies
FLL- Joint Liquidators' final account- 16 October 2024
FLA- Joint Liquidators' final account - 16 October 2024
-FLL & FLA - Joint Liquidators' annual report for the period 1 February 2023 to 31 January 2024
- Joint Liquidators' annual report for the period 1 February 2022 to 31 January 2023
- Joint Liquidators' annual report for the period 1 February 2021 to 31 January 2022
Creditors who are owed money
If you are owed money by FL All or FLL , please complete and return the appropriate claim form below to: FAO Sara Myers , PricewaterhouseCoopers LLP, Central Square, 29 Wellington Street, Leeds, LS1 4DL or alternatively via email: sara.myers@pwc.com
David Matthew Hammond and Edward Williams have been appointed as Joint Liquidators of the Companies. Both are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales.
The Joint Liquidators are bound by the Insolvency Code of Ethics which can be found at: https://www.gov.uk/government/publications/insolvency-practitioner-code-of-ethics
The Joint Liquidators may act as controllers of personal data as defined by UK data protection law depending upon the specific processing activities undertaken. PricewaterhouseCoopers LLP may act as a processor on the instructions of the Joint Liquidators. Personal data will be kept secure and processed only for matters relating to the Joint Liquidators’ appointment. Further details are available in the privacy statement on the PwC.co.uk website or by contacting the Joint Liquidators
