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A Scarborough construction business in liquidation owed creditors more than £80,000, according to a liquidator’s report.
AS Painting Contractors was incorporated in January 2019 and went into a creditors voluntary liquidation on September 9.
The liquidator was Gateshead-based KRE (North) Ltd.
AS Painting Ltd was registered at Europa House, 20 Esplanade, Scarborough, a block of serviced offices.
Companies House records its directors as Aaron Simpson, Andrew Simpson and Beverley Simpson.
A liquidator’s report, known as a statement of affairs, outlines the financial situation at the business.
AS Painting Contractors had assets of £10,330 cash in the bank, the report said.
There were no preferential creditors – those who are paid first.
However, HMRC was owed £3,509 as a secondary preferential creditor – those who are paid next.
This left £6,821 available for distribution to unsecured creditors.
The statement then outlines the trade and expense creditors who were owed £80,637.82 between them.
This comprised six trade and expense creditors owed £40,444.74 and two banks/financial institutions owed £40,193.08 between them.
This gave an overall shortfall of £73,816.92.
With the business having issued and called up capital of £101, this left an overall deficit of £73,917.82, the statement added.