Case details for LOUISE WILLETT

Name: LOUISE WILLETT

Name: LHD SOLUTIONS LIMITED

Date of Birth: 20 / 12 / 1974

Date Order Starts: 19 / 4 / 2019

Disqualification Length: 6 Years 0 Month(s)

CRO Number: 08590351

Last Known Address: 120 GRANTHAM ROAD, BOTTLESFORD, , , NOTTINGHAM, NG13 0EG

Conduct: 1. Mrs Louise Willett ('Mrs Willett') failed to ensure that LHD Solutions Ltd ('LHD') maintained adequate accounting records for the period 01 August 2014 to its liquidation in September 2017, or if such records were maintained, she has failed to preserve and/or deliver them up. In that:

  • LHD was incorporated in July 2013 and filed accounts for the period to 31 July 2014;
  • No records have been delivered up for any period after July 2014;
  • Without full records it is not possible to: o Verify what happened to stock and cash shown in the accounts, totalling 77,879 and confirm that LHD received the benefit of these; o Explain the change in LHD's financial position from net assets of 311 to net liabilities of 38,629 at the liquidation date; o Determine if monies shown as due to her in the accounts of 67,731 have been repaid as no debt was disclosed to her in the liquidation; o ascertain if the receipts into the bank account totalling 57,665 from June 2016 were all the monies due to the Company and determine whether any debtors should have been disclosed in the liquidation o explain transfers into the account from associated companies totalling 29,099; o account for expenditure of 90,995 from June 2016, of which: ? 16,049 was in cash withdrawals; ? 9,455 appears to be personal spending; and ? 29,840 was transferred to associated companies; o verify that all monies paid from the bank account were legitimate company expenditure (or were accounted for in a director's loan account) and confirm that all creditors have been disclosed in the liquidation; o ascertain if assessments for VAT raised by HMRC are reasonable; o verify the reason for LHD's failure; o confirm the date that LHD ceased trading. 2. She failed to ensure that LHD dealt properly with its tax affairs and as a consequence caused it to trade to the detriment of HM Revenue & Customs ('HMRC') throughout. As a consequence HMRC have submitted a claim in the liquidation of 38,628. In that:
  • LHD registered for VAT from 01 August 2013;
  • VAT returns were submitted up to June 2014, albeit late, HMRC raised assessments thereafter;
  • No payments were made for VAT during LHD's trading and VAT of 32,222 accrued;
  • HMRC requested information regarding the returns submitted, this was not received and HMRC raised an Officer's Assessment of 1,299 together with penalties for inaccurate returns;
  • Accounts to July 2014 show no trade creditors and 8,587 owed to HMRC;
  • By the liquidation date HMRC was the only creditor, claiming 38,628;
  • Bank statements show payments of 90,995 from June 2016, none of which was paid to HMRC. 

    This information is correct as at 1 / 4 / 2019



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