MR ALEKSAS GERT

Disqualified from

2020-09-08

Date of birth on record

November 1977

Between 9 December 2015 to 7 July 2017, the date of Administration, Mr Gert failed to ensure that Monarch kept and maintained adequate accounting records relating to Monarch; or in the alternative failed to preserve and deliver up all accounting records as were maintained to the Joint Administrators. As a result, the Joint Administrators have been hampered in their administration in that they have not been able to: • Establish the intercompany position between Monarch and associated companies; • To verify an amount of £783,804 shown as due under a shareholder loan in Monarch’s financial statements at 31 March 2016, to determine the identity of that shareholder or to determine what if any balance was outstanding at the date of Administration; • Establish, in the absence of valid invoices or vouching documentation, whether payments made to connected company of £606,087.45 for the period 9 December 2015 to the date of administration, were legitimate; • Establish, in the absence of valid invoices or vouching documentation, whether payments made to a further connected company, Monarch Extraction Ltd (In liquidation) of £407,350 and USD$12,200 for the period 9 December 2015 to the date of administration, were legitimate; • Establish, in the absence of valid invoices, employee and payroll records or other supporting documentation whether payments made to Mr Gert of £39,432 for the period 9 December 2015 to the date of Administration, were legitimate, or to establish the true position of Mr Gert’s Director’s loan account at the date of Administration; • Identify the recipients of payments made by Monarch totalling £65,407 and the source of receipts totalling £840,839.90 between 4 April 2016 and 9 June 2017 posted to Monarch’s Sage electronic records, some of which are not shown on Monarch’s bank statements, conversely Monarch’s bank statements show other unidentified payments and receipts which are not posted to Monarch’s Sage records; • Establish, in the absence of sufficient books and records, the full extent of creditors or liabilities of Monarch, or ascertain what has happened to Monarch’s assets and liabilities; • Deduce, in the absence of original sales invoices, supporting records for the Director’s loan account and intercompany accounts, the source and full extent of Monarch’s income; • Establish, in the absence of employee records, who was employed by Monarch to verify redundancy and employee liabilities; • Establish, in the absence of employee and payroll records, and/or evidence of registration with HM Revenue and Customs, the amounts properly due to HM Revenue and Customs in respect of PAYE/NIC; • Verify the reason for Monarch’s insolvency; and • Establish the accuracy of the Statement of Affairs sworn by Mr Gert dated 15 September 2017.