Formosa Developments Limited faces a winding-up petition
Active Company no. SC514074 Incorporated Aug 2015 Real Estate DD postcode area
26-28 High Street, Dundee, DD1 1TA
The most recent insolvency notice for Formosa Developments Limited is a Petitions to wind up (Companies), published 28 August 2026 in The London Gazette. The office holder is Mr Steven Wright, Insolvency Practitioner, William Duncan (Business Recovery) Limited trading as Dains, 2nd Floor, 18 Bothwell Street, Glasgow, G2 6QY, appointed 21 August 2026. The petition was presented by Chiltern Property Holdings Limited. The case is before the Sheriff Court of Dundee (case No DUN-L119 of 2026). Its last accounts filed at Companies House, to 31 August 2025, showed total assets of £2.1m and net assets of -£803k. On those figures the company was already balance-sheet insolvent — its liabilities exceeded its assets — at that date, 12 months before its first insolvency notice. A winding-up petition asks the court to close a company and place it into compulsory liquidation, most often because a debt has gone unpaid. If the court makes a winding-up order, control passes to the Official Receiver or an appointed liquidator, the company's bank accounts are frozen and its assets are sold to repay creditors.
The petitioning creditor is another company, so the debt behind the petition is a commercial one — typically an unpaid invoice, rent, or a judgment that went unsatisfied — rather than a tax liability.
Last filed balance sheet
As at 31 August 2025 · total exemption full accounts · unaudited · filed 12 months before the first insolvency notice
Insolvency notices (1)
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Petitions to wind up (Companies) 28 Aug 2026
A petition has been presented to the Sheriff Court at Dundee to wind up Formosa Developments Limited and an interim liquidator has been appointed.
What happens next
At the hearing the court decides whether to make a winding-up order. Until it does, the petition can still be dismissed or withdrawn — if the debt is paid, if it is genuinely disputed on substantial grounds, if the company has a cross-claim larger than the debt, or if the court is persuaded to adjourn while a rescue or refinancing is put in place. If an order is made, the company stops trading, its bank accounts are frozen, control passes to the Official Receiver and a liquidator is appointed to sell the assets and pay creditors in the order fixed by law.
Quote case number No DUN-L119 of 2026 and the Sheriff Court of Dundee in any correspondence about the case, together with company number SC514074.
Owed money by Formosa Developments Limited?
A bad debt this size rarely stops with the company that failed. If you're a supplier or creditor left short, it's worth knowing where you rank — and checking what the shortfall does to your own cashflow.
Related guidance
Is your own business showing the same warning signs?
What the public record showed for this company before its insolvency notice:
- Its last filed accounts, to August 2025, already showed negative net assets of -£803k, 12 months before the first insolvency notice.
Each of these is visible months before a Gazette notice. Directors who act at that stage keep far more options open, from an informal turnaround to a CVA or restructuring plan.
Frequently asked questions
Is Formosa Developments Limited in liquidation?
The most recent insolvency notice for Formosa Developments Limited (company no. SC514074) is a Petitions to wind up (Companies), published 28 August 2026 in The London Gazette. A winding-up petition asks the court to close a company and place it into compulsory liquidation, most often because a debt has gone unpaid. If the court makes a winding-up order, control passes to the Official Receiver or an appointed liquidator, the company's bank accounts are frozen and its assets are sold to repay creditors.
What were Formosa Developments Limited's last filed accounts?
Formosa Developments Limited's last accounts filed at Companies House, to 31 August 2025, showed total assets of £2.1m, cash of £292, net assets of -£803k. For a distressed company the last filing often predates the insolvency by a year or more.
How many insolvency notices does Formosa Developments Limited have?
Formosa Developments Limited has 1 insolvency notice recorded in The London Gazette, the most recent being a Petitions to wind up (Companies) on 28 August 2026.
What happens next?
At the hearing the court decides whether to make a winding-up order. Until it does, the petition can still be dismissed or withdrawn — if the debt is paid, if it is genuinely disputed on substantial grounds, if the company has a cross-claim larger than the debt, or if the court is persuaded to adjourn while a rescue or refinancing is put in place. If an order is made, the company stops trading, its bank accounts are frozen, control passes to the Official Receiver and a liquidator is appointed to sell the assets and pay creditors in the order fixed by law.
Who presented the winding-up petition, and why?
The petition was presented by Chiltern Property Holdings Limited. The petitioning creditor is another company, so the debt behind the petition is a commercial one — typically an unpaid invoice, rent, or a judgment that went unsatisfied — rather than a tax liability.
Financial figures are taken from the company's own last accounts filed at Companies House. Small and micro-entity accounts are unaudited, and for a company entering an insolvency process the most recent filing frequently predates that process by a year or more. Figures are indicative and are not a valuation. Contains public sector information licensed under the Open Government Licence v3.0. © Crown copyright.