Former Cardiff Restaurant Company director banned
The sole director of The Cardiff Restaurant Company (CRC), the business which traded from The Old Post Office on Greenwood Lane, has been disqualified for six years after failing to pay VAT, PAYE and National Insurance contributions for almost two years.
An investigation by the Insolvency Service found that Simon Geoffrey Kealy failed to submit VAT returns to HM Revenue & Customs (HMRC) and make PAYE, VAT and National Insurance payments from September 2010 to April 2012.
It was estimated that the company had VAT liabilities of £16,962 and PAYE/National Insurance liabilities of £11,686, which were overdue from 30 September 2010 and 19 April 2011 respectively.
Failure to pay also led to additional creditor losses of at least £17,695, following the company's liquidation on 11 April 2012.
The investigation also found that Kealy continued to trade CRC with knowledge of insolvency from October 2011 to April 2012.
He was banned from being a director for six years from 19 September 2014 and was also ordered to pay costs of £4,935.
Sue Macleod, chief investigator at The Insolvency Service, said: "This is a case where the director caused the company to continue to incur liabilities so that creditors were bearing all the risk of the company’s trading, breaching his duties to both HMRC and trade creditors."