Liquidation for Harrogate AVL Technologies Ltd Harrogate

AVL Technologies Ltd, which was incorporated in 2016, was founded by businessmen Andy Wyatt and Peter Hudspeth.

Registered in Knaresborough, it operated a shop known as Harrogate Home Cinema on Bower Road, Harrogate.

Reports filed to Companies House, say the business agreed to be voluntarily wound-up on June 15. KBL Advisory were appointed administrators.

A report, known as a Statement of Affairs, says the business had assets of £7,800 which could be realised.

There were no preferential creditors, those who are paid first.

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However, there were secondary preferential creditors, those who are paid next, who were owed £51,732.15. This was HMRC, owed £3,8742.28 in PAYE/ NI and £47,859.15 in VAT. This left a deficit of £43.932.15 owed to preferential creditors.

When it came to unsecured creditors, those who are paid last, the statement said there were 20 trade and expense creditors, owed a total of £13,613.81 between them.

In addition a bank/ institution creditor was owed £7,624.38 and HMRC was owed a further £89,876.00. This gave a total of unsecured creditors of £111,114.19.

A overall list of 24 creditors says they were owed £162,846.39 in total.

Among them, HMRC was owed £89,876.00 in corporation tax, plus £47,859.67 in VAT and £3,8742.48 in National Insurance. Santander was owed £7,624.48 as a Bounce Back Loan.

The other debts were relatively small, 16 of them under £1,000.

Altogether, with regards to creditors, this left an estimated shortfall owed to them of £155,046.34. With the business having issued and called up capital of £1,000, this gave a total deficiency of £156,046.34 owed.