A MOTOR trader registered in York has gone into liquidation owing almost £1 million.
JP Commercial Vehicles traded mainly in Doncaster but was also registered at Equinox House, Clifton Park, Shipton, York, according to Companies House.
The business was incorporated in May 2026 and went into a creditor voluntary liquidation on June 30 following a vote to voluntarily wind-up the business.
The liquidator is Seneca IP Ltd of Derbyshire.
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A report known as a Statement of Affairs says JP Commercial Vehicles had estimated assets to realise of £7,306.96.
This £7,306.96 is available to preferential creditors, those who are paid first, namely five employees owed £4,000 between them, leaving a surplus of £3,306.96.
The report said JP Commercial Vehicles had secondary preferential creditors - those paid next- who were owed a total of £60,739.63.
These were made up of VAT and Construction Industry Scheme payments of £39,042.00 and employee PAYE/ National Insurance/ Student Loan payments of £21,697.63.
This gave total deficiency or shortfall regarding secondary preferential creditors of £57,432.67.
The Statement of Affairs also lists unsecured creditors - those who are paid last- who were owed a total of £924,876.07.
This included 16 trade and expense creditors owed £324,076.97 between them. There were 28 consumer creditors owed £292,850.95 between them.
Five employees were owed £5 between them. A director was owed £292,971.78 and HMRC was owed £14,971.37 in PAYE.
Altogether, this gave an estimated shortfall or deficiency of £982,308.74. With issued or called up capital of £1, this gave a total deficiency or debt of £982,309.74, the report added.
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