Name: Adam Croft

Name: Cook & Lucas Frozen (UK) Limited

Date of Birth: 10 / 6 / 1964

Date Order Starts: 20 / 7 / 2026

Disqualification Length: 8 Years 0 Month(s)

CRO Number: 06144795

Last Known Address: 1 Louth Road, North Lincolnshire, , , GRIMSBY, DN33 2EH

Conduct: Adam Croft (“Mr Croft”) caused Cook & Lucas Frozen (UK) Limited (“C&L”), whilst he knew or ought to have known C&L was insolvent, to make payments to himself totalling £480,000 between 23 December 2022 and 10 January 2023 and to retain proceeds from the sale of an asset belonging to C&L for the total amount of £48,000. In total, Mr Croft received £528,000, more than he would have been entitled in the Administration estate had the transactions not taken place, to the detriment of the secured creditor who was owed an estimated total of £2,061,980 at the date of Administration. In that Insolvency • Analysis of C&L’s draft management accounts show C&L was owed £1,641,398 by a Holding company, of which Mr Croft was a director, at 30 September 2022 and based on this C&L appeared to be solvent. However, analysis of the Holding company accounts show it to be insolvent at 30 September 2022. C&L was therefore insolvent from this date. • From 16 November 2022 to 20 January 2023, the date of Administration, C&L’s invoice finance facility was overdrawn with estimated repayments of £930,835 and £1,352,365 required to generate availability on the respective dates. • On 29 November 2022, the company accountants stated that they were unable to sign off accounts as a going concern without further evidence. Transactions to the detriment of creditors • Between 01 December 2022 and 31 January 2023, payments owed to the invoice finance facility provider totalling £1,240,116 were made into C&L’s bank account. Other trading income between these dates totalled £499,538. • Between 23 December 2022 and 10 January 2023, payments totalling £480,000 were made from C&L’s bank account to Mr Croft which, at least in part, came from funds diverted into the company’s bank account, rather than being paid by the customers to the invoice finance facility provider. • On 15 February 2023, after C&L had gone into Administration, Mr Croft sold a vehicle belonging to C&L and proceeds of £48,000 were transferred to an account belonging to Mr Croft’s partner. Administration • On 20 January 2023, a qualifying floating charge holder appointed an Administrator. • The statement of affairs as at 20 January 2023 shows a deficiency of £2,244,811 with £2,061,980 owed to the invoice finance facility provider under a fixed and floating charge. 

This information is correct as at 31 / 7 / 2026

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