Hartlepool Firm Goes Bust Owing £162,000 to its Creditors....

Shoreline Fire Ltd

Hartlepool Business 'Shoreline Fire Ltd' Crashes Into Liquidation, as HMRC Chases a £100k Tax Bill

25th November 2025

A Hartlepool Business has gone bust after HMRC called in a £100k tax bill to be paid in full...

A newly-released Statement of Affairs filed at Companies House for the Hartlepool Business Shoreline Fire Ltd, shows the company was sinking under a mountain of debt — with The Teesside & Durham post understanding that total deficiencies in the business exceeded £162,000, leaving the business with no option but to call in the liquidators.

The liquidation is said to be being handled by FRP Advisory Trading Limited, with liquidators Iain Townsend and Martyn James Pullin appointed to wind up the company’s affairs.

Just £5,878 Available for Creditors

The company declared assets that, on paper, had once totaled more than £70,000, including, Motor vehicles (£6,600), Book debts (£11,756). Its also claimed A large £52,000 overdrawn director’s loan account was declared — & is now classed as “uncertain” for recovery...

According to the reports, liquidators estimate only £5,878 will be released to creditors, leaving virtually nothing for those said to be owed money from the now collapsed business.

HMRC Tops the Creditor List

Among the most significant debts is said to be HM Revenue & Customs, who were said to have been chasing a £100k debt from the business. Additionally, its claimed Lloyds Bank are owed around £40,591, as well as numerous other creditors said to be owed various sums.

In total, its claimed the company owes £155,445 to just five major creditors.

The document from the firms liquidators confirms that HMRC’s claim alone is enough to wipe out all available assets many times over. With just £5,878 available, believed to be that of a company vehicle, the shortfall facing preferential creditors stands at £94,122....

Five Employees Also Affected

The Statement of Affairs lists five employees owed a collective £12,864.42. These claims are classed as non-preferential, meaning they are unlikely to see much — if anything — returned to them.

This places workers at the back of a very long queue behind HMRC, banks, and secured lenders.

Unsecured Creditors Face a £162,431 Loss

When all liabilities are combined, the predicted deficit is stark:

• Unsecured creditors are expected to lose £162,431

• Overall deficiency for members/shareholders stands at £162,531

  
  

This essentially means the business has no recoverable value left.

Who Owned the Company?

The Business shareholder list reveals three Hartlepool-based individuals:

• Peter Boyd – 51 shares

• Dominique Boyd – 29 shares

• Mark Foxton – 20 shares

  
  

All shares are listed as having zero nominal value, meaning the owners will receive nothing from the liquidation.

Shoreline Fire Ltd’s collapse follows a pattern seen across the country: rising operational costs, HMRC pursuit of tax arrears, increasing pressure on small firms from lenders, and difficult trading conditions.

But with a £100k tax bill, a £40k bank debt, and virtually no assets, the company’s financial position appears to have been unsustainable for some time.

The firms collapse comes just days after a national Scrap metal Chain Unimetals filled for administration, the proposed closure of Peterlee firm NSK Bearings as well as the collapse of the Teesside firm Venator Materials PLC earlier this year, marking the outlook for the business sector on Teesside & County Durham to be exceptionally 'bleak', & a crucial budget set to be held tomorrow that many business leaders claim will lead to an exodus of businesses going under, especially those based in the North East....