Collapsed Cotswolds car firm’s over £250K debts revealed

A statement of affairs has been published by liquidators BTG Begbies Traynor about Woodstock-based company Cotswolds Cars Ltd.

Within the document, it is revealed that the business has creditors worth over £250,000, more than in its latest accounts which was to August 31, 2024.

READ MORE: Cotswolds car company to be liquidated amid £111,000 debts

Of the £255,798.49 it owes, £188,317.03 is to the taxman HM Revenue and Customs.

In addition, £43,389.46 is to IWOCA, which is based in London and offers business loans, and £24,092 is to Funding Circle, another business loan company.

This comes after it went into voluntary liquidation on July 13, with a resolution to wind-up the business having been passed on the same day.

Woodstock town square (Image: Oxford Mail)

A statement in the Gazette said “that the Company be wound up voluntarily and that Andrew Hook (IP No. 26150) and Julie Anne Palmer (IP No. 008835) both of BTG Begbies Traynor (Central) LLP, Units 1-3 Hilltop Business Park, Devizes Road, Salisbury, Wiltshire, SP3 4UF be and are hereby appointed Joint Liquidators of the Company”.

This was “for the purpose of the voluntary winding up, and any act required or authorised under any enactment to be done by the Joint Liquidators may be done by all or any one or more of the persons holding the office of liquidator from time to time”.

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On the government website, Cotswolds Car Ltd’s nature of business was listed as ‘other passenger land transport’.

This covers non-urban, non-taxi land transport, including airport shuttles, motor coach with driver, sightseeing buses,  and passenger transport by animal-drawn vehicles.

Roma Gill was the director of the company which now is in the process of being liquidated.