Case details for Toby Flesher

Name: Toby Flesher

Name: Flesher Lighting Limited

Date of Birth: 15 / 5 / 1973

Date Order Starts: 19 / 11 / 2021

Disqualification Length: 5 Years 0 Month(s)

CRO Number: 05848819

Last Known Address: The Little House,, Thames Street,, , , SUNBURY-ON-THAMES,, TW16 5QP

Conduct: 1. Between 01 April 2020 and 18 November 2020 (“the period”), Toby Flesher (“Mr Flesher”) breached his fiduciary duty by causing Flesher Lighting Limited (“FL”) to use £43,961 of company funds for his own benefit at a time when FL was insolvent, resulting in an increase in liabilities in the period of £27,090, in that: • On 23 December 2019, FL reached an agreement with its credit card provider to make reduced monthly payments because it was unable to make the required minimum monthly repayments. • On 06 March 2020, FL reached a time to pay arrangement with HM Revenue & Customs (“HMRC”) regarding a Corporation Tax (“CT”) liability of £9,847 that was due for payment on 01 January 2019. On 27 March 2020, Mr Flesher informed HMRC that FL had been affected by the Coronavirus pandemic and asked for the agreed weekly payments to be deferred, as FL had no work at that time. HMRC agreed to defer payments until 07 July 2020. • On 01 April 2020, FL had assets with a maximum value of £8,839, liabilities of £25,336 and a deficiency to creditors of £16,497. In addition to the assets of £8,839, Mr Flesher also had an overdrawn Directors Loan Account (“DLA”) of £14,466 listed on the balance sheet of FL’s accounts, which covered the period up to 31 March 2019. No value has been attributed to the overdrawn DLA in calculating the asset position on 01 April 2020, as Mr Flesher was unable to repay the DLA at that time. • In the period, FL had total income of £42,298 (including bounce back loan funds of £10,000) and additionally, funds loaned to FL that did not go through FL’s bank account of £1,748. Total payments out of FL’s bank account in the period were £46,941, comprising of payments for Mr Flesher’s personal benefit of £42,213, payments to HMRC of £3,498 in respect of Corporation Tax, trade and expense payments of £614 and interest and charges totalling £616. • At the date of liquidation, FL had assets of £302, liabilities of £52,426 and a deficiency to creditors of £52,124. 

This information is correct as at 1 / 11 / 2021

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