MR SIMON SIGITAS STEPSYS

Disqualified from

2020-12-07

Date of birth on record

May 1967

Mr Simon Sigitas Stepsys (“Mr Stepsys”), failed to ensure that SIMON STEPSYS SUCCESS INTERNATIONAL LIMITED (“SSSIL”) maintained and/or preserved adequate accounting records for the period 30 June 2016, (the date of the last year end accounts), to 26 June 2019, (the date of the Winding Up Order), or in the alternative, following liquidation, failed to deliver up to the Official Receiver such records as were maintained and/or preserved. As a result of these failures it has not been possible to establish: 1) SSSIL bank details. Mr Stepsys claims SSSIL banked with a particular bank, however, that bank has confirmed that they have no knowledge of SSSIL and that it held no accounts with them; 2) The extent of SSSIL’s sales between 30 June 2016 and liquidation, and book debt position at liquidation. The last accounts record book debts of £81,502 at 30 June 2016; 3) The level of purchases SSSIL made and whether they were made to its own benefit; 4) If SSSIL had any assets at liquidation and how £199,229 cash, recorded in the last accounts, was used between 30 June 2016 and cessation of trading; 5) If the director operated a loan account and if he did, the balance of that at liquidation; 6) If SSSIL had any other liabilities at liquidation in addition to the liability of £171,059 due to HM Revenue and Custom; 7) How SSSIL’s business model operated. In July 2015 SSSIL was subject to an adjudication by the Advertising Standards Agency that ruled that their advertisements must not appear again in their current form, to ensure that they did not make earnings claims unless they could be substantiated, and not to claim that selling was not involved in an opportunity if that was not the case. In the absence of accounting records it is not possible to establish if SSSIL complied with the findings of that adjudication.