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A YORK dental practice has gone into liquidation with debts exceeding £400,000.
Biju Krishnan Consulting Ltd of Wellington House, Avalon Court, Clifton Moor, entered a creditors’ voluntary liquidation on September 25.
Clifton Moor-based BTG Begbies Traynor (Central) Ltd was appointed liquidator.
The business was incorporated six years ago and Dr Biju Brishnan, 55, is listed on the Companies House website as the only director.
A liquidator’s report known as a statement of affairs says the business had realisable assets of £100.
However, £25,287.25 in PAYE/NI was owed to HMRC as a preferential creditor—someone who is paid first.
Furthermore, there were creditors with unsecured claims of £376,497.11.
These creditors are paid last.
They consisted of trade creditors owed £180.
Virgin Money was owed £25,000.
HMRC was owed a further £351,317.11 in corporation tax.
This left a deficit with regard to creditors of £401,684.36.
With the business having issued and called up capital of £100, this left an outstanding shortfall of £401,784.36 owed.