The Department for the Economy (the Department) has accepted a disqualification undertaking from the director of a plumbing and heating installation company.
The undertaking was received for eight years from Kevin Patrick McLaughlin (58) of Newline Road, Limavady, County Londonderry in respect of his conduct as a director of KPM & Son Contracts Ltd (“the Company”).
The Company carried on the business of plumbing and heating installation from Newline Road, Limavady, County Londonderry and Glen Road, Belfast and went into liquidation on 1 May 2014 with estimated total assets available for creditors of £nil and liabilities to unsecured creditors of £204,744 and an estimated deficiency as regards creditors of £204,744. After taking into account the losses incurred by members (the shareholders) of the Company, the estimated total deficiency was £204,746
The Department accepted the disqualification undertaking from Kevin Patrick McLaughlin on 24 June 2016 based on the following unfit conduct which solely for the purposes of the disqualification procedure was not disputed:
- Causing and permitting the Company to retain £196,754 properly due to the Crown consisting of £42,847 in respect of PAYE for the tax years 2012/13 and 2013/14; £43,643 in respect of NIC for the tax years 2012/13 and 2013/14 and £110,264 in respect of VAT for the tax years 2010/11 to 2013/14; during which time the Company made payments of at least £974,675.34 to trade creditors;
- Failure to have adequate financial controls in place thereby causing and permitting the Company to misuse the company bank account;
- Without the leave of the High Court he acted as a director of the Company whilst he was an undischarged bankrupt;
- Displaying a want of commercial probity in bringing the Company into disrepute by making false claims which may have misled customers and in so doing failed in his duty to promote the success of the Company;
- Failure to file Annual Returns for the periods ended 30 April 2010 and 30 April 2011 within the prescribed periods;
- Causing and permitting the Company to fail to file annual accounts for the periods ended 30 April 2010 and 31 March 2012 within the prescribed periods and failure to file annual accounts for the period ended 31 March 2013.
The Department accepted eleven Disqualification Undertakings and the Court made two orders disqualifying directors in the financial year commencing 1 April 2016.