HP Liability

Please can someone help with a HP issue....I am incredibly stuck and have been looking at this for ages and I must have missed something

A company purchases a van for £8000+1400 VAT = £9400

The company then sells the van onto a HP lender, the invoice being

VAN £8000
VAT £1400
TOTAL £9400
less deposit -1400
BALANCE £8000

So the company owe money to the HP company for the van.

SO why is the HP liability only £8000, yet the van is in the asset register at £9400?

Please help!!