LOGISTICAL SUPPORT LIMITED

BEVERLEY JOAN LLOYD

April 1954

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

7 Years 0 Month(s)

Disqualification starts from

14 June 2021

Improper conduct which resulted in their disqualification

From at least 30 September 2018 to liquidation on 20 June 2019, Beverley Joan Lloyd (“Mrs Lloyd”) failed to ensure that Logistical Support Limited (“LSL”) maintained and/or preserved adequate accounting records or, in the alternative, has failed to deliver up to the joint liquidators such records as were maintained. In that: LSL’s trading and accounts • LSL’s business was that of delivery motor vehicles, freight and commercial clothing sales; • LSL ceased to trade on 24 September 2018; • Accounts for LSL’s trading for the year ended 30 September 2018 show the following: o Assets of £609,617 comprising: ? Book debts of £567,078, which were subject to a fixed charge in favour of a finance company; ? Cash at bank and in hand of £42,539. o Liabilities of £566,285 comprising: ? Trade creditors of £291,768; ? Taxation and social security costs of £106,896; ? Other creditors of £167,621, which comprise the secured creditor of £162,730 and Mrs Lloyd’s loan account with LSL of £4,891. o Called up share capital of £100. o A surplus of £43,232. Deficiencies in the accounting records As a result of the deficiencies in the accounting records of LSL that have been delivered up to the joint liquidators it is not possible to: • Explain the source of credits totalling £563,732 (excluding credits from the finance company of £490,266 and bank interest of £173) to LSL’s bank accounts in the period 01 October 2018 to 19 June 2019; • Explain LSL’s expenditure from its bank accounts totalling £1,254,738 (excluding payments to HM Revenue & Customs (“HMRC”) of £10,582 and bank charges of £134) in the period 01 October 2018 to 11 June 2019, namely: o Miscellaneous payments of £908,234; o Payments to Mrs Lloyd of £186,205; o Payments to an associated company of £137,440; o Cash withdrawals of £12,000; o Payments to Mrs Lloyd’s co-director of £8,372; o International payments of £2,486. • Verify the accuracy of £403,555 of the amount shown as creditors in LSL’s accounts for the year ended 30 September 2018 and the movements in those claims to liquidation on 20 June 2019, comprising: o Trade creditors of £291,768: ? The statement of affairs that Mrs Lloyd lodged in the liquidation does not disclose any trade creditors. o Taxation and social security costs of £106,896: ? The statement of affairs that Mrs Lloyd lodged in the liquidation showed HMRC as a creditor for £700 in respect of corporation tax (“CT”). ? HMRC have lodged a claim in the liquidation for PAYE income tax & national insurance contributions of £2,842 and value added tax of £2,705, a total of £5,547. ? A total of £10,582 was paid to HMRC in the period 13 November 2018 to 18 February 2019. o The credit balance on Mrs Lloyd’s loan account with LSL of £4,891: o A total of £186,205 was paid to Mrs Lloyd in the period 04 October 2018 to 16 May 2019. Mrs Lloyd is not scheduled as a debtor or creditor at the date of liquidation.