CORTEX LOGIC LTD

Jacques Ludik LUDIK

October 1966

Disqualified from being a director because of their conduct for the period of

3 Years 6 Month(s)

Disqualification starts from

7 November 2022

Improper conduct which resulted in their disqualification

From at least 7 February 2020 onwards, Jacques Ludik (“Dr Ludik”) failed to ensure that Cortex Logic Ltd (“Cortex”) met its obligations to submit VAT returns and payments to HMRC, and caused or allowed Cortex to trade to the detriment and at the risk of HMRC, in that: • Cortex was registered for VAT with effect from 5 June 2019, and failed to submit any VAT returns to HMRC. • Cortex incurred VAT liabilities of at least £108,421.83 for the periods between 1 October 2019 and 30 September 2020. Cortex’s VAT return and payment for the period 1 October 2019 to 31 December 2019 fell due on 7 February 2020. • On 13 November 2019, Cortex received its first income, being £90,000. On 19 November 2019, Cortex transferred £80,000 to a connected company, leaving insufficient provision for VAT. At no point thereafter did Cortex retain sufficient funds to pay its VAT liability. • Between 15 November 2019 and 24 November 2021, Cortex had total outgoings of £654,204.11, of which £650,371.24 was paid to the connected company (between 19 November 2019 and 28 September 2020), and no payments were made to HMRC. • Cortex’s statement of affairs, signed by him on 7 December 2021, records that Cortex had total liabilities of £114,038.00, comprising £109,034.00 VAT, £4,800.00 claimed by him, and £204.00 owed to the accountant.