Winding up the ill-fated Heart of Wales Property Services (HOWPS) has begun and will be completed later this year.

Documents lodged on the UK Government’s Companies House website on Christmas Eve last year show that the process of liquidating the joint venture between Powys County Council and Kier construction is now underway and will take a year to finish.

HOWPS conducted repairs and maintenance on Powys’ housing stock - 5,400 homes and 630 other properties including schools.

But problems dogged HOWPS from its formation in 2017, which caused the partnership to be continually questioned by councillors.

The contract was set to run until 2027, but a break clause - which allowed either party to terminate the partnership in July 2022 - was invoked by the council.

At that time, around 150 workers were transferred to work for Powys, many of which had been transferred from the council to work for HOWPS in the first place.

The documents show that on December 23 the four remaining directors of HOWPS, which include Powys County Council’s corporate services director and S151 officer, Jane Thomas, and leader of the Conservative group Cllr Aled Davies agreed a “special resolution” and reduced the “share capital” of the company.

This saw the share worth of £1,925,100 reduced to £2 with £1,925,098 of £1 ordinary shares “cancelled and extinguished” paid up and put into a reserve.

A further “solvency statement” signed by the directors agrees that they have “formed the opinion” that HOWPS would be able to “pay” or discharge any liabilities during the winding up period.

Companies House also reveals that HOWPS has moved its registered address from Unit 31 Ddole Road Industrial Estate in Llandrindod Wells to Keir Construction’s offices on the second floor of Optimum House, Clippers Quay, in Salford, Greater Manchester.