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Undated : Tax. book keeping. audit. balance sheet. generic. free image from www.sxc.hu.

Debt behind Rockhampton accounting firm liquidation revealed

Rockhampton firm Taurus Accounting has gone into liquidation owing more than $260,000 in debts, according to official documents.

The company, which was registered to a Cambridge St, The Range, address, went into liquidation in late December.

It officially ceased trading on December 18, 2020.

Nigel Markey of Pilot Partners was appointed the liquidator.

In documents lodged this month to the Australian Securities and Investments Commission, it was stated Taurus Accounting owed $264,108 to creditors.

The document states the company has assets valued to around $190,000.

The director of Taurus Accounting has advised the reason for the business’s failure was “due to concerns about the ability of the company to pay its debts and the health of its main employee. He has noted the employee had not been well for a long time and was

struggling to handle the workload”.

Among the creditors list is leave and wage entitlements to five staff totalling about $65,000.

PRIORITY CREDITORS:

Australian Taxation Office: $53,686.64

UNSECURED CREDITORS:

Archer Springs Water, Ironpot: $456

As Required 4 Pty Ltd, The Range: $4,525.68

Australian Taxation Office: $88,921.59

EFEX Technology Managed, Gladstone: $30.16

Elantis Premium Funding: $3,436.57

Endeavour Foundation, Rockhampton: $41.50

MYOB, Victoria: $40.03

Shot Blocks Pty Ltd, The Range: $487.27

TOTAL UNSECURED CREDITORS: $122,403.55

NON-TRADE CREDITOR AMOUNTS:

Client pre-payments: $8,082.50

Superannuation payable: $53,686.64

ATO – ICA: $162,578.49

Loans: $29,841.33