Ballymoney directors agree to disqualification

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News

The Department of Enterprise, Trade and Investment accepts disqualification undertakings from two directors of a kitchen manufacturing company.

The undertakings, for eight years from Wesley Alexander McAuley (48), and for two years from Helen McAuley (49) both of Bann Road, Ballymoney, were in respect of their conduct as directors of McAuley Kitchens Limited (“the Company”).

The Company carried on the business of kitchen manufacture from 1 Market Street, Ballymoney and 10 Boucher Road, Belfast and went into liquidation on 4 October 2011 with estimated total assets available for preferential creditors of £35,050, liabilities to preferential creditors of £15,154, liabilities to a floating charge holder of £508,919, liabilities to unsecured creditors of £2,180,088 and an estimated deficiency as regards creditors of £2,669,111. After taking into account the losses incurred by members (the shareholders) of the Company the estimated total deficiency was £2,669,311.

The Department accepted the disqualification undertaking from Wesley Alexander McAuley on 15 April 2015 based on the following unfit conduct which solely for the purposes of the disqualification procedure was not disputed:

* Causing and permitting the Company to misuse a commercial finance invoice discounting agreement resulting in a loss to the bank in the sum of £560,044 by, inter alia, failing to pay £161,397 relating to payments made by debtors which could not be identified by or were not received by the bank; by misallocating £482,723 of debtor receipts; and by notifying and receiving advances on £271,870 of debts relating to either work not started or incomplete; and

* Causing and permitting the Company to fail to pay £198,831 due to the Crown consisting of £95,970 in respect of PAYE and £45,613 in respect of NIC for the years 2009/10 to 2011/12; and £57,248 in respect of VAT for the quarterly periods 09/2010 to 12/2011.

The Department accepted the disqualification undertaking from Helen McAuley on 15 April 2015 based on the following unfit conduct which solely for the purposes of the disqualification procedure was not disputed:

* Failure to adequately address the affairs of the Company and allowing herself to be recorded as a director without undertaking the duties which such a position entails.