The Department of Enterprise, Trade and Investment (the Department) has accepted a disqualification undertaking from a director of a Derry payroll and accounts company.
Stacey Watson (25) of Stoney Path in the Waterside was disqualified for seven years in respect of her conduct as a director of Interactive Payroll Management Limited (“the Company”).
Proceedings are continuing against another director.
The Company carried on the business of preparing VAT returns, payroll and accounts from Precision Park, Springtown Industrial Estate, Derry and went into liquidation on 23 April 2009 with no estimated assets of, liabilities to non-preferential creditors of £147,663, and an estimated deficiency as regards creditors of £147,663.
After taking into account the losses incurred by members (the shareholders) of the Company the total estimated deficiency was £147,763.
The Department accepted the disqualification undertaking from Stacey Watson on 29 August 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 misapply £24,283 of client monies to the detriment of the client;
causing and permitting the Company to fail to maintain / preserve / or deliver up accounting records to the Official Receiver;
causing and permitting the Company to fail to pay a total of £24,079 due to the Crown consisting of £10,757 in respect of PAYE and £11,117 in respect of NIC for the years 2007/08 and 2008/09; and £2,205 in respect of VAT for the year 2008/09;
causing and permitting the Company to fail to pay a total of £5,720 due to the Department of Finance and Personnel;
failing to file Annual Accounts for the Company for the year ended 31 October 2007;
causing and permitting the Company to fail to ensure that the Annual Return for the year ended 10 October 2007 was filed within the prescribed time period with Companies House and to fail to file the Annual Return for the year ended 10 October 2008.
The Department has accepted 55 Disqualification Undertakings and the Court has made six orders disqualifying directors in the financial year commencing 1 April 2013.
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