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Walsall landlords lose out as letting agent folds

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Walsall letting agent Homepoint Estate Agents Limited has gone into voluntary liquidation with debts of just under £1m.

Of the £977,000 deficit, about £700,000 is owed the landlords, according to the liquidators Moore UK. It said that the firm had been registered with a deposit protection scheme but that it was aware of some deposits that had not been processed through the scheme.

Covid-related delays mean the company is still registered at Companies House as ‘active’ and its former telephone number is being answered – but by staff of Point to Home Limited, which has taken over some of Homepoint’s business. Staff there confirm that Homepoint Estate Agents has ceased trading.

Point to Home Limited was incorporated in only December 2020. It has £1,000 capital and one director, 46 year old Charnjit Sidhu.

Neither of the two Homepoint directors Ajit Poonior and Vipul Patel, hold office in the new company although Moore UK said it understands Mr Pooni is involved in the business in some way.

Homepoint Estate Agents’ last filed annual accounts were for the year ended March 2020 when current liabilities, including £288,000 owed to the directors, exceeded current assets by £662,000. Its ‘intangible fixed assets’ had a net book value of £387,000. The company had reported a deficit for the year of £124,000. It had an average of 42 employees.

The accounts were approved on 7 January 2021.

Lloyds TSB Bank holds a fixed and floating charge over the company’s assets, so it would seem unlikely there will be much if any money remaining to pay other creditors.