Case details for JENNIFER HOLT



Date of Birth: 2 / 5 / 1974

Date Order Starts: 27 / 11 / 2018

Disqualification Length: 3 Years 6 Month(s)

CRO Number: 06361827

Last Known Address: 27 SUNNYSIDE ROAD, , , , LIVERPOOL, L23 3AY

Conduct: 1. Between 11 November 2016 and 12 January 2017, Jennifer Holt (“Mrs Holt”) allowed Arrowmix to pay her co-director a net amount of £58,164, (“Transactions”), at a time when she was aware or ought to have been aware that Arrowmix was insolvent and which transactions were to the detriment of creditors.

  • As a consequence of the Transactions, monies which ought to have been available for distribution to creditors by the Liquidator were not so available. Insolvency
  • Accounts filed for the years to 30 September 2013, 2014 and 2015 show Arrowmix to have net liabilities of £40,147, £35,794 and £34,219 respectively. The accounts for the year to 30 September 2015 were signed off by co-director on 06 November 2015.
  • Between March 2016 and September 2016 HMRC served written demands on Arrowmix, attempted to contact co-director by telephone and to gain access to Arrowmix’s site in respect of outstanding tax arrears.
  • From 01 June 2016 until liquidation, Arrowmix’s bank account was perpetually overdrawn without exception. In this time, Arrowmix also breached its agreed overdraft limit for 7 non-consecutive days.
  • In September 2016, Arrowmix fell into arrears on payments owed to one of its trade creditors.
  • On 07 November 2016, Arrowmix fell into arrears on payments owed to another of its trade creditors.
  • On 08 November 2016, HMRC issued Arrowmix with a 7 day demand letter for payments of its outstanding tax liabilities.
  • On 22 November HMRC petitioned for Arrowmix’s compulsory winding up. That petition was served personally on co-director on 16 December 2016.
  • On 30 December 2016, co-director signed off accounts filed for the year to 30 September 2016 that show Arrowmix to have had net assets of £394 on that date.
  • On 20 January 2017, co-director made representations to HMRC stating that £50,000 was available with which to pay the majority of Arrowmix’s tax liabilities, and he was working to secure the further £28,000 to pay HMRC in full. In making these representations, co-director was told that if he were to seek an adjournment of the winding up proceedings, HMRC would not object.
  • On 23 January 2017, co-director obtained a 12 week adjournment and was told by HMRC that Arrowmix must satisfy the tax liability in full within 12 weeks. No payments were made to HMRC. Detriment
  • On 11 November 2016, Arrowmix had PAYE and NIC liabilities of at least £56,759, and had VAT liabilities of at least £20,363. On 24 March 2017, Arrowmix had PAYE and NIC liabilities totalling £77,942, and had VAT liabilities totalling £30,108. According to the Statement of Affairs, at liquidation Arrowmix had trade creditor liabilities of £27,767. 2. Between 30 January 2016 and cessation of trading on 24 March 2017 (“the Period”), co-director allowed Arrowmix Ltd (“Arrowmix”) to trade to the detriment of HM Revenue & Customs (“HMRC”) in respect of Pay As You Earn (“PAYE”) and National Insurance Contributions (“NIC”) whilst maintaining payments to other creditors. PAYE and NIC
  • On 30 January 2016 Arrowmix had PAYE and NIC liabilities totalling £22,385. During the Period, no payments were made by Arrowmix to HMRC in respect of its PAYE and NIC liabilities. On 24 March 2017, Arrowmix’s PAYE and NIC liability was £77,942. Differential Treatment
  • During the Period, Arrowmix made 321 payments to its six largest trade creditors totalling £501,793, 70 cheque payments to trade creditors totalling £90,952, and net payments to her of £9,610.
  • Between 30 January 2016 and 10 November 2016, Arrowmix also made net payments to co-director totalling £155,924. From 11 November 2016 further net payments were made to co-director totalling £58,164.
  • Accounts for the year to 30 September 2015 show trade creditor liabilities of £41,530 and tax liabilities of £20,104. Accounts for the year to 30 September 2016 show trade creditor liabilities of £36,465 and tax liabilities of £74,723. HMRC has submitted a proof of debt of £129,619 in the liquidation of Arrowmix, whereas trade creditors are owed £27,767 in the liquidation, of which the Liquidator has received proofs of debt for £14,515. 

    This information is correct as at 15 / 11 / 2018

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