Marie Louise Hopkins has been disqualified from acting as a director for 9 years for failing to maintain, preserve and deliver up accounting records after a company was placed into Liquidation.
Ms Hopkins disqualification follows an investigation by the Insolvency Service.
CS Solutions (UK) Limited was incorporated in March 2011 and started trading shortly after. The company carried out market research and customer satisfaction surveys for Local Authorities, including the London Borough of Southwark. The work was performed by telephone and in face-to-face meetings with customers. In March 2013 the contract with Southwark ended. CS Solutions was unable to secure another contract so it ceased trading in December 2013 and was placed into Liquidation in January 2014.
The Insolvency service investigation found that Ms Hopkin had failed to ensure that CS Solutions (UK) Limited maintained and/or preserved adequate accounting records, or, that she had she failed to deliver up accounting records to the liquidator.
As a consequence it has not been possible to:
establish the accuracy and amounts of employee claims in the Liquidation totaling 77,292
explain the difference between activity on the bank account, and turnover and expenses in the accounts
account for income and expenditure of the Company between March 2013 and December 2013
verify a claim in the Liquidation for 127,646 made by Ms Hopkins
determine the liability to HMRC in respect of VAT, PAYE/NIC
At the date of Liquidation CS Solutions (UK) Limited had no assets and estimated liabilities of 311,015. Commenting on the disqualification, Cheryl Lambert, Chief Investigator at the Insolvency Service, said:
Directors have a duty to maintain and preserve adequate accounting records. They must also deliver these records up to a Liquidator if the company is placed into Liquidation. Directors who do not comply with this can expect to be investigated by the Insolvency Service and enforcement action taken to remove them from the market place.
Ms Hopkins has failed to keep records and as consequence employee claims cannot be verified and income and expenditure cannot be accounted for. Taking action against Ms Hopkins is a warning to directors to seriously consider their duties and obligations.