Case details for Henry Ball

Name: Henry Ball

Name: EG Garments Limited

Date of Birth: 14 / 11 / 1966

Date Order Starts: 18 / 8 / 2021

Disqualification Length: 6 Years 0 Month(s)

CRO Number: 10042481

Last Known Address: 10f Newnton Close, , , , LONDON, N4 2RQ

Conduct: Mr Henry Ball ('Mr Ball') failed to ensure that EG Garments Ltd (‘EGG’) maintained and/or preserved adequate records or, in the alternative, he has failed to deliver up any or sufficient accounting records to explain EGG's financial affairs for the period from its incorporation on 03 March 2016 to its liquidation on 12 October 2018. In that: • EGG commenced trading in March 2016 and no books and records have been delivered up in the liquidation; • EGG did not file any accounts although a profit and loss account to March 2017 was provided to the liquidator; • This account is not consistent with the information in the bank statements up to March 2017 in that: o bank receipts were £242,718 more than shown in the account for the main/only customer; o payments from the bank account were £1,284,025 more than shown in the account; o it is not possible to explain these discrepancies in the absence of full records. • Without records it has also not been possible to: o explain income of £4,216,651 paid into EGG’s bank account from March 2016 to November 2018 and verify that these were all the monies received by it; o ascertain whether any debtors were outstanding at the liquidation date; o account for expenditure of £4,116,966 of which: ? £2,198,205 was paid by cheques; ? £242,736 (net) was paid to Mr Ball; o verify that all monies paid were legitimate company expenditure (or were accounted for in a director's loan account); o confirm that the creditors shown on the statement of affairs were Company creditors and that all creditors have been disclosed in the liquidation; o explain the change in EGG’s financial position from a net profit of £510,210 in March 2017 to a deficiency of at least £576,025 at the liquidation date; o determine whether payments to named individuals were wages payments and if so, whether tax due on these payments has been correctly accounted for to HM Revenue & customs ('HMRC'); o ascertain if the assessments for VAT raised by HMRC are reasonable; Mr Ball failed to ensure that EGG complied with its statutory obligations to file VAT returns and to make payments when due to HMRC for VAT. As a consequence he caused EGG to trade to the detriment of HMRC from at least 07 October 2017 when VAT for August 2017 fell due, to its liquidation in October 2018, resulting in at least £255,083 being due to HMRC for unpaid VAT. In that: • EGG was registered for VAT from 01 April 2016; • It did not submit VAT returns on time throughout, although those for May, August and November 2016 were submitted after assessments had been raised; • The last payment made for VAT was on 08 September 2017, which was allocated to the amount due for May 2017; • At the liquidation date £32,492 remained outstanding from August 2017, which should have been settled by 07 October 2017; • HMRC is the majority creditor in the liquidation; • Bank payments of £4,116,966 were made from March 2016, of which o £162,757 was paid to HMRC; and o £242,736 was paid to Mr Ball. 

This information is correct as at 29 / 7 / 2021

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