Simply HIP went into liquidation owing AHIPP£9,000
News Category: Industry News
Published: 02-Jul-2010
Creditors of Simply HIP include the Association of Home Information Pack Providers, of which Simply HIP boss Ashley King was chairman. His firm owed AHIPP £9,000.
It is listed among the creditors, who are nearly all estate agents. The biggest single creditor is PSS (Yorkshire), owed £27,438, which is a provider of search information, EPC and other HIP information.
Another creditor is the print firm Ravensworth, owed £9,281.
Not listed individually are the 2,700 members of public, owed £150,000.
Apart from members of the public and trade creditors, the taxman is also owed £394,461, whilst 38 members of staff are listed as being creditors to the tune of £97,177.
Altogether, creditors are owed £838,918. With assets worth £264,377, the liquidators – David Rubin & Partners LLP – say that the actual deficit is £575,542.
The liquidators also report that in the year to April 30, 2010, Simply Group Holdings – which consisted of both Simply HIP and its sister company Simply Conveyancing and which had started to trade on July 1, 2009 – had revenue in excess of £9m.
Out of its turnover of £9,317,719, it made a gross profit of £1,605,300, according to the company’s own financial statement.
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