The director of a child casting agency had borrowed £45,000 from the business when it went bust, records published this week show.
Happy House Productions Limited told clients it was going into liquidation in the summer, shortly after Equity, the actors’ union, warned members not to engage with or accept new work from it.
Documents published on Companies House this week show that when it went bust, it owed more than £67,000 to the taxman, £4,400 to its four employees and more than £130,000 to other creditors.
According to a statement of affairs produced by Molly Monks at Parker Walsh Corporate Recovery and signed by Happy House’s sole director Edward Lightfoot, 44, it only had £475 in the bank.
The statement also says it is uncertain whether the £45,572 withdrawn from the business by Mr Lightfoot can be realised to repay creditors.
The company traded as Lucy Harrison Casting. Another company owned by Mr Lightfoot, Happy House Media, is still trading.
In August, Equity said: “Equity has been supporting members with issues of non-payment in the run up to and aftermath of Lucy Harrison Casting going into liquidation, securing payment for the majority of members who got in touch before the company’s liquidation.
“Lucy Harrison Casting (LHC) is a large agency representing models and actors, booking jobs on a range of big brand commercials and other work. Equity issued concerns about the agency in May and has since been warning members not to engage with or accept new work from the agency, as it became clear there was a serious problem affecting multiple members.
“Equity’s agents team managed to secure full payment of earnings for almost all members who got in touch with us prior to LHC’s liquidation, which took place at the end of June. As a trade union, we are not able to take on case work for non-members.”
Although the companies are registered to an address in London, Brighton and Hove News understands Mr Lightfoot lives in Hove, which is the registered address of three other companies he owns and runs.
Company law especially around liability and insolvency need reforming in this country. Directors should be held personally responsible for debts to the public purse. HMRC will unlikely recover outstanding VAT and tax although it will probably been deducted already. In the USA you would be serving serious jail time.
It’s why it’s called a limited liability company. If the directors break the law they can be prosecuted. Otherwise it is up to the individuals or businesses who lend or give them money.
£67k owed to the taxman and likely they stopped contributions from their employees wage cheques. Don’t see any debts outstanding to the directors. Limited liability should not apply to debts owed to the public purse and the people running the company, ie the board and shareholders, should be held personally liable for that. It’s called speculation for a reason.
Must have borrowed the money a long time ago to have been paid in obsolete coins
If you have any bags of these coins, I will take them they are all legal tender.