I have heard/read that one of our major creditors is/was Central Government - is this true?? and what the chuff is that about???!??!?!

I think they're the people you pay taxes to.

Adey will be able to confirm.

HMRC.

Easily the biggest creditor. As we all knew.

A bit of Modmerging required?

In fact Her Majesty's Revenue & Customs to be precise. The old-co would have owed £250k in VAT re the Lease sale and maybe a couple of month's PAYE/NI deductions - so in total about £450k to £500k I would think.

You could probably also include the £45k of unpaid NNDR which, although collected by the local authority, is ultimately due to the government.

I was under the impression that the 4 major creditors are -

1. HMRC
2. Tong School
3. CENTRAL GOV
4. NAK - Hoods IT Co?

Why Taxman twice??

Sort of wrong. But not quite as wrong as first appears:

1. HMRC £503k
2. Integrated Bradford LEP 186k (the landlord of the Tong facility - NOT Tong School)
3. NAK Corporate World 68k
4. The Insolvency Service 60k (redundancy payments assumed by HMG under the legislation)
5. Bradford Council 45k (Business Rates)

Items 4 & 5 total £105k, and are collectively due to HMG (and probably a few small bits too).

So in fact, with only minor corrections, your gist was correct.

Something extremely curious about the HMRC figure - which is stated as £252k VAT and £251k PAYE - in that there seems to be an omission...

Image rights ? EBT's ? Have they been quantified yet ?

Leases normally give the landlord prompt recourse in the event of late payment so surprised we were allowed to run up such a bill re Tong, someone not doing their job there from LEP's credit control point of view.

NO EBT liability. Bulls stated ages ago they never used EBTs.

We were told the image rights liability (which would potentially be classified as a PAYE liability) was c. 250k - I think I read somewhere 251k. And had been agreed (and negotiated down from £500k) and was being paid over 36 monthly instalments.

Which raises the question of what the PAYE liability on the list comprises, and whether it is complete?

Given a landlord is able to distrain for unpaid rent, the amount seemed to me doubly-surprising.

Just a question. Didn't the Bulls have some sort of facilities at Woodhouse Grove school, training grounds and gym, or is this what you are referring to as Tong school?