Case details for Arnas TIMONIS

Name: Arnas TIMONIS

Name: AZ FLOORING LIMITED

Date of Birth: 10 / 6 / 1970

Date Order Starts: 6 / 6 / 2019

Disqualification Length: 4 Years 0 Month(s)

CRO Number: 07643037

Last Known Address: 56 Otley Drive,, , , , ILFORD,, IG2 6SN

Conduct: Mr Arnas Timonis ('Mr Timonis') caused AZ Flooring Ltd ('AZF') to trade to the detriment of HM Revenue & Customs ('HMRC') from at least 22 April 2013 when CIS tax for 2012/13 fell due for payment, to AZF's cessation in December 2017. As a consequence HMRC has submitted a claim in the liquidation of 300,174. In that:

  • AZF commenced trading in May 2011 and ceased around December 2017;
  • Accounts show that it incurred losses throughout and its net liabilities increased from 5,875 as at 31 May 2012 to 181,676 by 31 May 2017;
  • AZF had a deficiency of 300,274 at liquidation; CIS
  • At the liquidation date, CIS of 23,496 was outstanding from the tax year 2012/13, which should have been settled by 22 April 2013;
  • A further 93,031 in CIS was incurred for the years 2015/16 to 2017/18, giving a total due of 116,527; VAT
  • VAT was not paid on time from at least the quarter ended August 2012, which was not settled until August 2013;
  • At the liquidation date, VAT of at least 161,538 was outstanding, dating from VAT quarter 08/14; Comparative treatment
  • Accounts for the years 31 May 2015 to 31 May 2017 disclose no trade and expense creditors; in this period the amount due to HMRC increased from 106,732 to 215,551;
  • Bank statements show payments from the account of 156,076 from 01 June 2017, of which: o nothing was paid to HMRC; and o 31,199 was paid to him
  • At the liquidation date, HMRC was the only creditor, and was owed 300,174; 

    This information is correct as at 17 / 5 / 2019



    If you believe this page contains any errors, please email civil.proceedings.team@insolvency.gov.uk with details of the error that you have found.

  •