Mr Martin’s disqualification follows an investigation by the Insolvency Service which found that he had treated HMRC detrimentally by paying trade creditors of D&S Poultry ahead of VAT between April 2009 and February 2012.
The investigation also found that Mr Martin had failed to account for or deliver up assets to the Liquidator with an estimated value of at least £18,314, comprising monies owed to D&S Poultry, cash and a motor vehicle. The disqualification order means that Mr Martin is not allowed to act as a director or take part in the management or control of any limited company until 2022, without leave of the court.
D & S Poultry Limited was placed into Liquidation on 10 February 2012 with an estimated deficiency to creditors in excess of £100,000 and an outstanding VAT bill of £60,000.
Commenting on Mr Martin’s disqualification, Robert Clarke, Group Head of Insolvency Investigations North at the Insolvency Service said:
Directors have a duty to ensure that their companies maintain proper accounting records, and, following insolvency, deliver them to the office-holder in the interests of fairness and transparency.
Without a full account of transactions it is impossible to determine whether a director has discharged his duties properly, or is using a lack of documentation as a cloak for impropriety.
Notes to editors
D & S Poultry Limited (CRO No. 06666153) was incorporated on 6 August 2008. The company’s registered office was Astute House, Wilmslow Road, Handforth, Cheshire SK9 3HP.
D & S Poultry Limited was subject to Creditors’ Voluntary liquidation on 10 February 2012.
Darryl Glyn Martin is of Flint, Clwyd and his date of birth is 10 August 1972.
A disqualification order has the effect that without specific permission of a court, a person with a disqualification cannot:
- act as a director of a company
- take part, directly or indirectly, in the promotion, formation or management of a company or limited liability partnership
- be a receiver of a company’s property
In addition that person cannot act as an insolvency practitioner and there are many other restrictions are placed on disqualified directors by other regulations.
Further information on director disqualifications and restrictions can be found here.
The Insolvency Service administers the insolvency regime, investigating all compulsory liquidations and individual insolvencies (bankruptcies) through the Official Receiver to establish why they became insolvent. It may also use powers under the Companies Act 1985 to conduct confidential fact-finding investigations into the activities of live limited companies in the UK. In addition, the agency authorises and regulates the insolvency profession, deals with disqualification of directors in corporate failures, assesses and pays statutory entitlement to redundancy payments when an employer cannot or will not pay employees, provides banking and investment services for bankruptcy and liquidation estate funds and advises ministers and other government departments on insolvency law and practice.
Further information about the work of the Insolvency Service, and how to complain about financial misconduct, is available.