Nancy Georgeson (54) of Mallaig, has been disqualified for seven years for failing to maintain adequate company records, register her company for VAT, submit annual accounts and pay Corporation Tax and PAYE.
Ms Georgeson was the director of NJMAC Enterprises Limited which traded as the Marine Hotel, Station Road, Mallaig.
On 14 November 2016, the Secretary of State accepted a disqualification undertaking from Nancy Georgeson effective from 5 December 2016 for 7 years.
The disqualification prevents her from directly or indirectly becoming involved in the promotion, formation or management of a company for the duration of the term.
Matters of unfitness, which Ms Georgeson did not dispute in the Disqualification Undertaking included that:
for the period 1 October 2012 to 1 January 2014, she failed to ensure that NJMAC Enterprises Limited maintained and/or preserved adequate accounting records, or in the alternative, she failed to deliver up such records as were maintained/ preserved to the Liquidator.
As a consequence of the absence of adequate accounting records it is not possible to account for the company?s assets, income or expenditure, determine the level of director?s remuneration or assess the extent to which the company had liabilities to HMRC
Ms Georgeson failed to comply with the statutory obligation to register NJMAC for VAT with HMRC, submit annual accounts to Companies House, submit Corporation Tax returns/payments to HMRC or submit PAYE/NIC returns/payments to HMRC.
Commenting on the disqualification, Robert Clarke, Investigations Group Leader at The Insolvency Service said:
Directors have a duty to ensure that their companies maintain proper accounting records, and, following insolvency, deliver them to the office-holder in the interests of fairness and transparency.
Without a full account of transactions it is impossible to determine whether a director has discharged duties properly, or is using a lack of documentation as a cloak for impropriety. Ms Georgeson has paid the price for failing to do that, as she cannot now carry on in business other than at her own risk.