Architects leave debts of almost £500k

AN award-winning Plymouth architecture company has left debts of nearly £500,000 after collapsing, it can be revealed.

- WILLIAM TELFORD

Millbay-based firm ADG, which designed some of the city's most eye-catching buildings over the past 40 years, ceased trading and went into liquidation last month.

Now documents filed at Companies House show ADG Consultancy Ltd left assets of £48,202 but large amounts owed in unpaid taxes, to its bank and to employees in unpaid redundancy money - most of which won't get paid.

The assets will pay the £33,462 owed to 12 workers in wages and holiday pay, but they will be short of £141,935 in redundancy and cash in lieu of notice, for which they are classed as unsecured creditors.

With just £14,739 left after paying staff, it will only cover a small portion of the £142,031 owed to HM Revenue and Customs in unpaid VAT and Income Tax.