Fresh heartache for Kate Garraway as her TV company plunges £165k into debt amid £800k tax bill fight
Kate Garraway’s telly firm has plunged £165k into the red – after three other firms she held with late husband Derek Draper ran up debts of £2M.
The TV presenter has endured a torrid few years and was left owing £800k for the care of Derek, who tragically died from Covid complications in January after a four-year battle at the age of 56.
Now her firm Praespero 100 Ltd has gone from profit to huge losses in the space of 12 months.
According to recently filed accounts, the company was £165,011 in deficit as at 30 November 2023.
The previous year the firm was sitting on a moderately healthy £36,888 in reserves.
The business owes £208,002 to creditors.
In an interview earlier this year Kate said she didn’t receive any help for Derek’s Covid recovery, saying: “Derek’s needs were clearly so great, yet he didn’t warrant funded care — so you think, ‘If he isn’t getting it, then who is?'”
She further added: “It’s supposed to be a system that’s meant to catch you if you fall.
“But actually, it feels like it’s trying to catch you out.
“You feel like you’re in the dock answering questions about things that will literally mean life or death to someone you love.”
Derek’s psychotherapy firm Astra Aspera Ltd – which was jointly controlled with Kate – is currently going through liquidation with £913,370 worth of debts. Creditor claims of £716,822 from the HMRC and £196,548 from four other creditors including a £50,000 bank loan, reported during the insolvency.
There are creditor claims of £716,822 from the HMRC and £196,548 from four other creditors including a £50,000 bank loan.
In 2012, two other firms jointly controlled by Derek and Kate went bust.
Fulfill Media Ltd reported debts totalling £917,907 , which included £88,486 owed to HMRC, £90,882 to trade creditors, and £462,808 in ’”third party loans”.
At the same time, Countrymouse Media Ltd, was liquidated owing £184,221, which included £98,944 to the taxman and £48,000 on an overdrawn directors loan account. Derek and Kate were both personally owed £24k each by the business.
Derek and Kate were both personally owed £24k each by the business.
In January, it was reported that Kate may have to sell the home to repay the debts with one source saying: “It is so sad for Kate.
“Not only has she had to watch her beloved husband suffer for almost four years but her financial worries have never been far away from her thoughts.
“It has cost hundreds of thousands of pounds to look after Derek and do everything she could to get him better but it’s left her struggling.
“The house is about all she has left financially and she is now facing up to the fact it might have to be sold.
“It’s where she and Derek were so happy and also where her two children grew up – but bills are bills and they have to be paid.
“It’s dreadful for Kate.”