Case details for Mirel Constantin Georginel Teodorescu

Name: Mirel Constantin Georginel Teodorescu


Date of Birth: 24 / 10 / 1994

Date Order Starts: 19 / 12 / 2022

Disqualification Length: 7 Years 0 Month(s)

CRO Number: 10211457

Last Known Address: 132 Gipsy Lane,, , , , WILLENHALL,, WV13 2HG

Conduct: 1. Mr Teodorescue failed to ensure that Mirel Resources Limited (“Mirel”) maintained and/or preserved adequate accounting records, or alternatively, he has failed to deliver up to the Official Receiver as Liquidator such records as were maintained. Due to the inadequate accounting records for the period from 02 June 2016, until liquidation on 12 December 2018, it has not been possible to ascertain and verify the income, expenditure, assets and liabilities of Mirel. Consequently, it has not been possible to: 1.1. Establish the purpose of cash withdrawals made from Mirel’s bank account totalling £45,434 between 23 September 2016 and 14 October 2017. 1.2. Verify, in the absence of any sales records, whether payments into Mirel’s bank account totalling £1,269,730 constituted all of the company’s sales and therefore determine whether there are any outstanding book debtors. 1.3. Determine, in the absence of any purchase records, whether payments out of Mirel’s bank account totalling £1,269,730 which were comprised of £45,434 cash withdrawals and £1,224,296 electronic payments, were for the company’s benefit. 1.4. Determine whether there were any assets at or prior to liquidation. 1.5. Determine Mr Teodorescue’s remuneration and any other benefit he derived from Mirel, and the position of any Director’s Loan Account at liquidation. 1.6. Verify the accuracy of the Statement of Affairs. 1.7. Verify the reasons for Mirel’s insolvency and the date it ceased to trade. 1.8. Ascertain Mirel’s liabilities to HMRC and verify the assessments raised by HMRC in the absence of any returns for Value Added Tax (“VAT”), Pay As You Earn (“PAYE”) and Construction Industry Scheme (“CIS”) Income Tax. Mirel failed to make PAYE, CIS and VAT returns for the entire period it traded. HMRC submitted a final claim in the liquidation totalling £375,541 made up of PAYE, VAT, CIS and penalties. 

This information is correct as at 1 / 12 / 2022

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