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Interesting to read through the accounts for the last few years and some unusual movements of personnel and assets. Directors come, leave to form a partnership then rermerge as directors. Partnerships are formed, goodwill is transferred at a disputed value then sold back to the company at the same value it was originally sold. Presumably partners in a partnership are responsible for the debts of the partnership but shareholders of a limited company are only liable for the share capital which for this company was a paltry £100. In the last couple of years assets have been substantially revalued (upwards) and during this time debts have also risen drastically, presumably monies owed to sellers of cars auctioned, trade creditors and the government (you and I) for taxation, etc.
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