Case details for Iain Potter

Name: Iain Potter

Name: IPCON LIMITED

Date of Birth: 14 / 2 / 1979

Date Order Starts: 25 / 12 / 2024

Disqualification Length: 6 years Years 0 Month(s)

CRO Number: SC544971

Last Known Address: 18 Albert Park,, , , , CARLUKE,, ML8 4RZ

Conduct: In the period from 1 July 2020 and 7 September 2022, the date of liquidation, Mr Potter failed to ensure that IPCON Limited (“IPCON”) maintained and/or persevered adequate accounting records, or in the alternative failed to deliver up adequate accounting records, such that it has not been possible to verify the following: • Whether payments totalling £2,978,831 reflect the total of all business expenditure from the company bank account. An analysis of the incomplete company records disclose purchase invoices totalling £1,020,098 over the period between 1 November 2021 to September 2022, of which £338,599 can be reconciled to IPCON bank account. • Whether the payments from the company bank account were all made for the economic benefit of IPCON • Whether income totalling £2,978,831 reflects the true position of all sales made, including the sum of £110,000 paid into the company bank account 7 days prior to liquidation. An analysis of the incomplete company records discloses sales receipts between 1 December 2021 and 22 August 2022 totalling income of £1,927,332 of which £618,810 can be reconciled to the IPCON bank account. • What the nature and purpose of the payments to a connected company totalling £430,580 were, all of which have been expended in the period between November 2020 and December 2021 or whether these payments were for the benefit of IPCON. • What the purpose and nature of payments to a second connected company totalling £418,105 were, all of which have been expended in the period between August 2020 and Nov 2020 or whether these payments were for the benefit of IPCON. • Analysis of the incomplete records disclosed purchase invoices from Suppliers to the second connected company between 16 March 2020 and 19 January 2022 in sums totalling £95,811. Of these invoices, £13,909 has been paid from the IPCON bank account and not by IPC. • What the nature of the transfers totalling £41,836 to a third connected company in the period from November 2020 to March 2021 were, and whether these were for the benefit of IPCON. • Whether the debtors totalling £44,997 at 30 June 2020 have been collected for the benefit of IPCON. • Whether the claims received at liquidation reflect the total of all sums due at that date. • What the true financial position of the company is between a July 2020 and the date of liquidation. 

This information is correct as at 5 / 12 / 2024



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