The Insolvency Service undertook an investigation into Crownsbury Limited finding that company director John Thomas Hanbury failed to ensure the business had adequate accounting records. This included a sum of £520,000 for which they could not determine the reason for this receipt going into Crownsbury’s bank account.
John Hanbury was appointed a director of Crownsbury Limited in January 2016 and the company went on to operate a payroll processing bureau, which it had not done before his appointment. The business went into Administration on 18th July 2016. The Insolvency Service found that he not only failed to keep proper books and records but he also failed to provide adequate accounting records to the Joint Administrators when required to do so. Therefore, the Insolvency Service has been unable to verify what the company’s income and expenditure was after 3rd May 2016 which was when the company bank account was closed.
John Hanbury put forward a ‘Disqualification Undertaking’, which was accepted by the Secretary of State On 7th August 2018. The ban is effective from 28th August 2018 and lasts for 7 years. A person with a disqualification cannot act as a director of a company, nor take part, directly or indirectly in the promotion, formation or management of a company or limited liability partnership or be a receiver of a company’s property.
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