fortherecord

Just wondering how her director's loan account could show deficits of £12,503 in 2010, £39,969 in 2011 and £57,742 in 2013 yet she/her accountant did nothing about it. Looks very much like she was trading while insolvent, which is an offence, but a very good way of gaining goods and services from unsuspecting local suppliers and businesses. http://companycheck.co.uk/director/913389468/AMANDA-JANE-PERRY/financial-accounts

Yes, clearly there is money to be made from this lark. The law of unintended pre-pack consequences enables directors of failed companies to 'change the name and do it again' conveniently walking away from their debts whilst the companies they appoint to liquidate them get rich on the assets that should be available to creditors and suppliers to recoup some of their losses. It stinks.

Interesting comments about HMRC asking for payment on account from pre-pack pheonix businesses to avoid being stung in the future. Similarly, the moral of the story for local suppliers must be to ask for payment up front before they supply goods and/or services. The problem of course is spotting such businesses before they do it the first time. Especially those that seem so good at generating positive PR spin and hype.

Spare a thought for the other local businesses and suppliers who won't have been paid, but presumably supplied goods and services to Fancie in good faith. I hope none of them lose staff or go under as a result of not being paid. If the debts Fancie have walked away from amount to £189K, as reported in The Star, then those debts can't have accrued overnight. I wonder how many suppliers were asked to supply even when Fancie knew they were unable to pay them? It seems grossly unfair that directors can do a pre-pack deal behind closed doors, sell the assets to a new company, switch company names, walk away from their debts and then carry on as if nothing had happened. They don't even have to change the signage on the shop front - how very convenient

Washing up at the Grindleford cafe, which gave me dermatitis! (Yes, I know the Grindleford isn't in Sheffield, but it was my first job having come to live in Sheffield, so I'm claiming it). Dear old Phil, still miss him when I go in there, although it's nice to see 'little Philip' making a good go of the place.

In the world of insurance it definitely seems to be the case that you cannot rely on any assumption that you are covered. Rather, it is safer to assume you are NOT covered unless the type of cover you require/wish to claim for is specifically stated in your policy. We have fallen foul of this kind of assumption with a policy taken out with....the AA, so play safe and read your policy! If it doesn't state you are covered for what you think you are, then you AREN'T! Incidentally, we recently renewed our household & contents cover. A quick online search using a well-known insurance comparison website saved us over £100 - the policy was with the same insurers AND we upped the level of cover on our policy! Shopping around can be a bore, but it can save you dosh.