The Department for the Economy, formerly the Department of Enterprise, Trade and Investment, has accepted nine disqualification undertakings from the directors of a quarrying business near Strabane.
Undertakings were received for six years from Anthony Harley (69) and Dermot Harley (37), in respect of their conduct as directors of Tony Harley & Sons Ltd at Urbalreagh Road, Victoria Bridge.
The Company went into liquidation on February 25, 2011, with estimated total assets available for creditors of £13,003, liabilities to unsecured creditors of £570,223 and an estimated deficiency as regards creditors of £557,220. After taking into account the losses incurred by members (the shareholders) of the Company the estimated total deficiency was £557,222.
The Department accepted the disqualification undertakings on April 28 this year, based on unfit conduct, namely causing and permitting the Company to retain £362,319 properly due to the Crown consisting of £18,513 in respect of PAYE for 2008/09 to 2010/11; £24,125 in respect of NIC for 2008/09 to 2010/11; £78,911 in respect of VAT for the tax years 2009/10 and 2010/11 and £240,770 in respect of Aggregates Levy for the tax years 2004/05 to 2010/11 thereby funding substantially the company’s period of insolvent trading with the revenues so retained and failure to ensure that annual accounts for 30 April 2006 to 30 April 2009 were filed within the prescribed time period.
Causing and permitting the Company to fail to ensure that the annual return for the year ended 15 April 2009 was filed within the prescribed time period.
The Department accepted nine Disqualification Undertakings and the Court made two orders disqualifying directors in the financial year commencing April 1, 2016.