Belfast Telegraph

Thursday 31 July 2014

Boardroom ban for Ulster electrical firm bosses who left £1m debt

Two directors of a Maghera electrical subcontracting firm have been banned from acting as company directors.

The Department of Enterprise, Trade and Investment (DETI) said Anthony Vincent O'Doherty (39) of Cherry Hill, Maghera, has agreed not to act as a director for nine years while his father Colm O'Doherty (57) of Glenview, Maghera, has accepted a director's ban of three years.

The move is in respect of the pair's conduct as directors of TOD Electrical Services which carried out commercial electrical subcontracting and labour supply before going into liquidation in December 2009.

At the time the company had debts of nearly £1.1m, most of which was owed to Her Majesty's Revenue and Customs (HRMC) and assets of just under £3,500.

Aside from withholding payment of VAT and other taxes to HRMC for the 2007/2008 and 2009/2010 financial years, the former directors were also charged with failing to file annual returns within the prescribed time for the period ending July 2007, July 2008 and July 2009. They were also said to have failed to file annual accounts for the same periods.

DETI said Colm O'Doherty also "failed to address adequately" the affairs of the firm and "allowing himself to be recorded as a director without undertaking the duties which such a position entails".