A MAN has been banned from being a director for seven years after he failed to keep proper accounts of his fish pedicure business.
Bradley Carter, 44, from South Ockendon, owned a chain of stores called Dr Spafish - a walk-in pedicure business where fish nibbled dead skin from a customer’s feet.
The company, which sold franchises, was formed on February 27, 2009 - at the height of the fish pedicure craze - and went into voluntary liquidation on November 28, 2011.
But an investigation found that Dr Spafish’s accounts had been poorly managed. Due to a lack of records, it was impossible to find out:
*what the company’s turnover was
*who benefitted from cheques and cash worth £181,953 withdrawn from the company’s bank account.
*what happened to £68,100 received as part payments for franchises Due to incomplete payroll records, it was also impossible to establish who was employed by Spafish, what they were paid and whether tax had been paid to HM Revenue and Custom.
Now, Carter has promised the secretary of state for business, that he will not form, promote or manage any company until 2020.
Mark Bruce, a Chief Examiner at the Insolvency Service said: “Company directors must keep sufficient financial records that show and explain the company’s transactions. This director failed to do this and there remain a large number of unexplained transactions, representing significant amounts, over the company’s trading period.
“The Insolvency Service will take action against directors who fail to meet these obligations and remove them from the business environment as has happened to Mr Carter.”