A Swindon town centre business has gone into liquidation owing more than £12,000.
Fraser Smith Construction & Management Services Ltd, which was based at 30 Commercial Road and incorporated in 2019, has filed a formal statement of affairs ahead of being wound up.
The document reveals that the company owes far more than it owns and that HM Revenue & Customs is its only significant creditor.
According to the summary of assets, the company – which carried out engineering-related activities - has no property or assets subject to fixed or floating charges.
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The liabilities schedule shows that HMRC is owed £13,875.15, which is listed as a secondary preferential and unsecured non‑preferential claim.
The firm’s only recorded asset is cash at bank of £1,258, and once that is paid to the taxman, it will still owe £12,617, meaning there will be no return for shareholders and only a small part of the tax debt can be recovered.
No consumer creditors are listed.
The only shareholder recorded is director Fraser Smith, holding one ordinary share fully paid up.
As a result of the insolvency, his investment will be lost.
The decision to wind up the company was made on July 17 and liquidators have since been appointed.
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