MR TREVOR JONES

Disqualified from

2020-01-07

Date of birth on record

January 1952

Mr Trevor Richard Jones failed to ensure that Vanestone Ltd ('Vanestone') maintained and/or preserved adequate accounting records, or in the alternative, he has failed to deliver up adequate accounting records to explain Vanestone's financial affairs for the period August 2017 to November 2018. In that:<br>Vanestone commenced trading in August 2015 and its only accounts filed were to July 2016;<br>Summary information was provided to the accountant and Company Voluntary Arrangement (‘CVA’) nominee up to July 2017;<br>No records have been delivered up for the period after July 2017 to Vanestone's cessation in November 2018;<br>Without records it has been possible to: o explain income of at least £102,822 into the bank accounts from 01 September 2017; ? this is significantly less than the income for 2016 and 2017 and given the nature of Vanestone's trading it is likely that further monies, in particular cash, were received, but the extent of these cannot be determined; o account for expenditure from the bank account of at least £101,668 from 01 September 2017; ? this is significantly less than the expenditure in 2016 and 2017 and it is not possible to ascertain what other expenses have been paid, or that these were all legitimate Company expenditure; o confirm that all creditors have been disclosed in the liquidation; o establish the true amount of VAT and PAYE/NIC due to HM Revenue &amp; Customs ('HMRC') and determine the accuracy of figures provided by him for the period when no returns were submitted; o verify the figure provided for stock and cash held at cessation and confirm that Vanestone received the benefit of these; o determine the amount owed to the directors at liquidation. He failed to ensure that Vanestone Ltd (‘Vanestone’) complied with its statutory obligations to file returns and to make payments when due to HM Revenue &amp; Customs (‘HMRC’) for PAYE/NIC and VAT and as a consequence caused it to trade to the detriment of HMRC from at least April 2016 when PAYE/NIC for 2015/16 fell due, to its cessation in November 2018. In addition, Vanestone was insolvent from at least 29 September 2017 and its continuation to November 2018 was primarily to the detriment of HMRC. As a consequence HMRC have submitted a claim in the liquidation for £172,772 and is owed at least £140,638 in unpaid taxes. In that:<br>At the liquidation date PAYE/NIC totalling at least £35,881 accrued from the tax year 2015/16, which should have been settled by 22 April 2016;<br>In addition, VAT of at least £104,757 was outstanding from the quarter ended October 2016;<br>The last payment made to HMRC was in March 2017;<br>In September 2017 insolvency advice was sought and a Company Voluntary Arrangement (‘CVA’) was proposed, however this was rejected on 29 September 2017;<br>Vanestone continued trading until November 2018;<br>The accounts to July 2016 disclose trade &amp; expense creditors of £7,104 and a debt to HMRC of £18,629;<br>Summary information provided in the CVA up to July 2017 shows that Vanestone had net liabilities of £75,577 including: o £21,071 owed to trade creditors; and o £59,241 due to HMRC;<br>At the date of the liquidation trade creditors were owed £21,550 and at least £140,638 was outstanding to HMRC.<br>Bank statements show payments of £101,668 from 01 September 2017, none of which was paid to HMRC.