Name: Brandon Paul SMITH

Name: 1st Choice Scaffolding (Isle Of Wight) Limited

Date of Birth: 6 / 3 / 1966

Date Order Starts: 11 / 10 / 2022

Disqualification Length: 4 Years 6 Month(s)

CRO Number: 11102928

Last Known Address: 87a West Street,, , , , RYDE,, PO33 2NN

Conduct: Brandon Paul Smith (“Mr Smith”) failed to ensure that 1st Choice Scaffolding (Isle of Wight) Ltd (“1st Choice”) maintained and / or preserved adequate accounting records from 01/04/2019 onwards or alternatively he failed to deliver up adequate accounting records to the Joint Administrators. He has also failed to fully cooperate with the Joint Administrators and explain or provide assistance to them and as a consequence of this and the lack of records and other documentation, the Joint Administrators have been unable to deal with the following matters: • Identify the whereabouts of £165,000 of company assets identified in the accounts to 31 March 2019. • Realise £81,545 of book debts, along with a claim identified by the Joint Administrators against a debtor for £157,168. • An analysis of the company’s bank account by the Insolvency Service for the period 01/04/19 – 24/08/20 shows payments into the account totalling £1,107,234 and payments out of the account totalling £1,130,112, which he has failed to explain. The bank transactions show the following which the Insolvency Service has not been able to verify or explain: Inputs into the account: i) 26 transactions from a third party totalling £756,347. ii) 34 transactions from him totalling £116,290 titled “loan from B Smith”. iii) 37 various payments into the account totalling £52,481. iv) 3 transactions from Company T totalling £47,245. v) 5 cheques totalling £34,640. vi) 2 bank giro credits totalling £10,014. Outputs out of the account: i) 251 payments to him totalling £538,711 titled “Loan Re”. This amount exceeds the £116,290 paid into the account by him and the purpose of the withdrawals is not known. Furthermore, the filed accounts dated 31/03/19 show that he owed the company £32,684 at that date. ii) 164 various payments out of the account totalling £200,822. iii) 308 card payments totalling £43,024. iv) A Government’s £50,000 Bounce Back Loan was received on 23/06/20 and a payment of £25,000 was made to a 3rd party on 24/06/20, 9 days before the company was placed into Administration on 03/07/20. v) 3 payments totalling £24,500 titled “Marco Loan Repa”. vi) 39 cash withdrawals totalling £16,382. • Establish the full nature of 1st Choice’s trading activities during the period 01/04/19 – 24/08/20 and whether these were connected with genuine trading purposes. • Establish the level of remuneration and other benefits taken by him as the sole director of 1st Choice and any related tax implications. He made significant withdrawals from the company’s bank account and it is not known if they were in respect of legitimate business expenditure or used for his personal benefit. 

This information is correct as at 7 / 12 / 2022

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