Case details for James Gormley

Name: James Gormley

Name: STONE DESIGN & CONSTRUCTION LTD

Date of Birth: 6 / 6 / 1941

Date Order Starts: 1 / 12 / 2023

Disqualification Length: 5 Years 6 Month(s)

CRO Number: 08548416

Last Known Address: 2 HAMILTON ROAD, COCKFOSTERS, , , BARNET, EN4 9EU

Conduct: From 1 October 2020 to 11 May 2022, the date of liquidation, James Anthony Gormley (“Mr Gormley”) failed to ensure that Stone Design & Construction Ltd (“SDC”), formerly known as Gormley Stone Marble & Granite Ltd, maintained and/or preserved adequate accounting records, or in the alternative he failed to deliver up such accounting records as were maintained or preserved to the Liquidator. As a consequence of this failure, it has not been possible to determine: • The purpose of 40 payments from the bank account totalling £190,128.67 to 3rd parties between 1 October 2020 and 17 August 2021. • The purpose of 3 payments from the bank account totalling £34,000.00 to ‘JA Gormley’ between 23 July 2021 and 29 July 2021 and determine the amount of remuneration and benefits received by Mr Gormley and if any taxes are owed by SDC for that remuneration and benefits. • The source of 9 credits in the bank account between 28 October 2020 and 6 October 2021 totalling £152,432.30 and if the bank credits related to legitimate business income. • Whether 5 credits paid into the bank account from HMRC for the Coronavirus Job Retention Scheme (“CJRS”) totalling £10,180.00 from 8 March 2021 to 6 July 2021 are legitimate as no payments appear to have been made to staff employees from the bank account since 1 October 2020. • Establish that all of SDC’s assets were disclosed in the Statement of Affairs and in particular, to determine what, if any, stock, office equipment, plant and machinery was owned by SDC at the date of liquidation, and the full and true value of any items transferred or otherwise disposed prior to liquidation. • Determine when the company ceased trading. • Establish the accuracy of the statement of affairs sworn by Mr Gormley. In particular o Book debts of £2,500,000 declared at liquidation, as the last set of accounts to 30 September 2020 show debtors of £131,459 down from £3,003,283 the previous year. o Counter claim of £1,260,528.57 that was dismissed in Court on 9 February 2022. James Anthony Gormley (“Mr Gormley”) failed to ensure that Stone Design & Construction Ltd (“SDC”), formerly known as Gormley Stone Marble & Granite Ltd complied with its statutory obligations to settle all its HMRC liabilities as and when due and caused SDC to trade to the detriment of HMRC in respect of PAYE and SDC’s landlord in respect of rent from at least 22 April 2020 to 11 May 2022, the date of liquidation. In that: • For the year ending 5 April 2020 SDC incurred an outstanding balance of PAYE/NIC of £170,561.20 including interest and penalties. • For the year ending 5 April 2021 SDC incurred an outstanding balance of PAYE/NIC of £394,431.58 including interest and penalties. • For the year ending 5 April 2022 SDC incurred an outstanding balance of PAYE/NIC of £359,385.17 including interest and penalties. • For the year ending 5 April 2023 SDC incurred an outstanding balance of PAYE/NIC of £37,000.98 including interest and penalties. • Between 22 April 2020 SDC made payments of £61,413.38 to HMRC in respect of PAYE/NIC. • SDC’s landlord petitioned for the company’s liquidation on 17 March 2021. Within the petition it is stated that £471,500 was owed to the landlord up to 23 March 2020. No payments were made to the landlord after this date and at liquidation the statement of affairs sworn by Mr Gormley stated the amount owed was £917,996. • At liquidation, according to the statement of affairs, the outstanding liabilities to HMRC and the landlord combined was £1,670,753 and the total liabilities were £2,962,814. • The company bank statements show that between 22 April 2020 and 11 May 2022 sums totalling £444,649.14 were paid into and £424,444.78 were paid out of the bank account. Of the £424,444.78 paid out, £39,744.64 was listed as being paid to HMRC, and nil to the company’s landlord. 

This information is correct as at 14 / 11 / 2023



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