Two York building firms liquidated with combined debts of over £64,000

Summarised from 3 outlets · 4 reports · Updated 1 Nov, 04:56 · Archive

Two York building companies have gone into liquidation with significant debts.

Two York-based building companies have gone into liquidation with significant outstanding debts. Virtue Developments, registered at Foxwood Lane, was incorporated in April last year and was wound up on 30 September. The company, which operated as a specialist construction business, had directors Jake Michael Andrew Calam and Reef Karl Wilson. Insolvency One of Leeds were appointed liquidators.

Virtue Developments had realisable assets of £2,500 in motor vehicles but faced a total shortfall of £64,971.29. The company owed HMRC £3,500 in PAYE and had unsecured creditors owed £63,971.29 between them. These included trade and expense creditors owed £7,922.29, a director's loan account of £34,353.14 and banks or institutions owed £21,695.86.

Separately, AG Construction and Developments Ltd of Front Street, Acomb, went into liquidation on 29 October. The company was incorporated in December 2018 with Graham Walker as sole director. Parker Walsh of Stockport was appointed liquidator. AG Construction reported debts topping £500,000.

AG Construction had employed 11 staff and showed a turnover of £978,955 in the year ended 31 March 2025, with pre-tax profit of £69,740. This represented growth from the previous year's turnover of £698,052 and profit of £21,271. However, the company's difficulties were attributed to cost increases in materials, a general decline in turnover over a significant period, and jobs being delayed or running over expected completion times.

In August, it became apparent AG Construction could not settle its debts. The company sought advice from Parker Walsh in September before the liquidator was formally appointed. The statement of affairs recorded bank assets of £9,025.67 on 16 October.

How it is being reported

• Reported debts at liquidated York building firm top £500,000York-based construction company AG Construction and Developments Ltd has gone into liquidation with reported debts topping £500,000.The Press (York) · 1 Nov, 04:00
• Reported debts at liquidated York building firm top £500,000York-based construction company AG Construction and Developments Ltd has gone into liquidation with reported debts topping £500,000.Gazette & Herald (Malton) · 1 Nov, 04:00
• York building company liquidated with debts topping £64,000York building company Virtue Developments has gone into liquidation with debts topping £60,000.Gazette & Herald (Malton) · 30 Oct, 12:13
• York building company liquidated with debts topping £64,000York building company Virtue Developments has gone into liquidation with debts topping £60,000.York Press · 30 Oct, 12:13

In this story: Virtue Developments · AG Construction and Developments Ltd · York · Jake Michael Andrew Calam · Reef Karl Wilson · Graham Walker

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