Name: ISAAC STROM

Name: TEA FOODS LIMITED

Date of Birth: 3 / 7 / 1978

Date Order Starts: 29 / 1 / 2024

Disqualification Length: 7 Years 0 Month(s)

CRO Number: 06034706

Last Known Address: 154B Osbaldeston Road, , , , LONDON, N16 6NJ

Conduct: Isaac Strom failed to ensure that Tea Foods Limited (“Tea Foods”) maintained and/or preserved adequate accounting records or, in the alternative, failed to deliver up to the Liquidator such records as required, for the period following the last set of filed accounts made up to 31 December 2018 to liquidation on 23 February 2022. As a consequence, it is not possible to determine: Tea Foods’s receipts, its turnover and debtor position and explain the purpose receipts into Tea Foods’ first bank account between 24 February 2019 to 05 August 2020 totalling £966,282 and receipts into Tea Foods’ second bank account between 26 February 2019 to 22 March 2021 totalling £2,840,900. the whole of Tea Foods’s expenditure and establish that all expenditure related to genuine company expenses. Payments out of Tea Foods’ first bank account between 24 February 2019 to 05 August 2020 totalled £1,180,913. Payments out of Tea Foods’s second bank account between 26 February 2019 to 22 March 2021 totalled £2,853,970. Tea Foods’s profit & loss and balance sheet position after the financial year ended 31 December 2018. No other draft or management accounts after the financial year have been produced or if so produced, these have not been made available to the Liquidator. Tea Foods’ true asset position at liquidation. Tea Foods last filed accounts made up to 31 December 2018 show fixed assets of £304,976, stocks of £385,000 and debtors of £450,270. These assets are unaccounted for and the realisable assets at liquidation are estimated at £Nil. Tea Foods’ true tax liability to HM Revenue and Customs. the exact amounts paid to the directors of Tea Foods by way of remuneration and other benefits and whether such sums were subjected to proper taxation. the position of any loan accounts, if any. if the Bounce Back Loan funds received by Tea Foods of £50,000 were used for the economic benefit of the company. when Tea Foods ceased trading and the reason for its failure. 

This information is correct as at 10 / 1 / 2024

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