Victor Ronald Bilkey, 51, a director of Relay Carpets UK Limited, based in Benfleet, has been disqualified from acting as a company director for seven years for failing to maintain proper records for his company after giving an undertaking to the Secretary of State for Business, Innovation and Skills.

The disqualification follows an investigation by the Insolvency Service and means Mr Bilkey may not be a director of a company or be involved in the management of a company in any way for the duration of his disqualification.

Relay Carpets UK Limited traded as flooring contractors. The company became insolvent in November 2013 owing money to HMRC. In giving his undertaking, Mr Bilkey admitted that he did not maintain and / or preserve or deliver up to the liquidator sufficient accounting records for the period of trade of the company as he is required to do as a director.

Without proper accounting records for the company it was not possible to establish a number of matters, including:
the reasons for payments out of the company bank account, including cash withdrawals of 538,078, international payments of 25,000 and payments of 170,628 that appeared to be for personal benefit or to associated parties
the true level of assets and liabilities (including tax liabilities) of the company

Commenting on the disqualification, Mark Bruce a Chief Investigator with the Insolvency Service said:

The period of disqualification contained in the undertaking signed by Mr Bilkey, sends a clear message to him and to other company directors: If your company becomes insolvent and you have failed to maintain proper records that explain sufficient all the transactions of the business you run the risk of being removed from the business environment.