Case details for WILLIAM JOHN PRESTON

Name: WILLIAM JOHN PRESTON

Name: PURPLE BUG SALES LIMITED

Date of Birth: 4 / 10 / 1990

Date Order Starts: 27 / 11 / 2023

Disqualification Length: 8 Years 0 Month(s)

CRO Number: 11690153

Last Known Address: Lake Farm,, Wyndbrook Lane,, Redmarley,, , GLOUCESTER,, GL19 3LF

Conduct: Mr William John Preston (“Mr Preston”) failed to ensure Purple Bug Sales Limited (“PBSL”) maintained and/or preserved adequate accounting records from date of incorporation on 21 November 2018 to the date of liquidation on 15 April 2020 (“the period”) or in the alternative, following liquidation he failed to deliver up to the Liquidator when required such records as were maintained and/or preserved. As a result, it has not been possible to: determine, in the absence of sales records or bank statements, the total sales made by PBSL during the period or if there were any book debts outstanding at liquidation. verify what purchases were made from any sales proceeds, or if they were for the benefit of the company. verify the extent of the HMRC liabilities which, based on assessments due to no returns being made, total £716. identify what assets PBSL owned and sold. PBSL sold agricultural machinery, equipment and supplies but without records it is not possible to verify where any such assets were purchased from, the value of the stock or the details of any sales of such items. Information received from 16 customers of PBSL’s shows that goods they purchased from PBSL between 07 January 2019 and 16 December 2019 for a total of £114,845, were defective or not as advertised. In the absence of adequate records, it has not been possible to verify why the reasons the customers received defective goods or items that weren’t those advertised. verify if a company Mr Preston was a director of bought assets from PBSL on 14 April 2020 for £2000, based on a valuation by an independent agent, the nature of any assets sold, or whether that sale, if it took place, comprised all of PBSL’s assets at that time. verify the reasons for insolvency and the date PBSL ceased to trade. 

This information is correct as at 9 / 11 / 2023



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