The Department of Enterprise, Trade and Investment has accepted disqualification undertakings for five years from the directors of a Draperstown-based fencing company.
The disqualification undertakings were accepted from Charles Joseph Rogers (otherwise known as Cathal Rogers), 56, and Geraldine Rogers, 56, both of Ballyleagry Road, Limavady, in respect of their conduct as directors of Roger’s Fencing Systems Ltd.
The Company carried on the business of the manufacture, supply and erection of fence and gate entry systems from Derrynoid Road, Draperstown, Co. Derry and went into administration on 24 June 2011 with estimated total assets available for preferential creditors of £778,144, liabilities to preferential creditors of £6,569, liabilities to floating charge holders of £376,736, liabilities to non-preferential creditors of £1,288,527, and an estimated deficiency as regards creditors of £893,688.
After taking into account the losses incurred by members (the shareholders) of the company the total estimated deficiency was £1,051,183.
The Department accepted the disqualification undertaking from the directors on 7 November 2013 based on the following unfit conduct which solely for the purposes of the disqualification procedure was not disputed:
causing and permitting the Company to fail to pay a total of £190,908 of monies due to Her Majesty’s Revenue and Customs consisting of £24,837 in respect of PAYE, £25,587 in respect of NIC and £70,140 in respect of VAT for the years 2010/11 and 2011/12; and £70,344 in respect of Corporation Tax for the year 2011/12;
causing and permitting the Company to fail to supply goods to a third party which Charles Joseph Rogers had guaranteed with a vesting certificate;
failing to maintain the Company’s fixed asset register;
causing and permitting the company to provide a directors loan, which was not repaid, with a value of £312,525 and/or, in the alternative, preferring Charles Joseph Rogers to the general body of creditors by attempting to offset this debt against monies owed to Charles Joseph Rogers;
causing and permitting the company to fail to comply with legislation in that the Annual Returns for the years ended 24 May 2008, 24 May 2009 and 24 May 2010 were not filed within the prescribed period.
The following additional matter of unfit conduct alleged by the Department in relation to Charles Joseph Rogers and not disputed was: submitting a materially inaccurate Statement of Affairs.
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