Bangor restaurateurs banned for under-declaring sales

Two restaurateurs in Bangor, have been banned for under-declaring sales and failing to account for cash, according to the Department for Economy of North Ireland.

Paul Stephen O’Kane (49) of Clifton Gate, Bangor and Amanda O’Kane (42) of Dunkeld Chase, Bangor, have been disqualified as a result of their “conduct” as directors of D&L Platinum (NI) Limited.

The company operated licensed restaurants from both Donaghadee Road, Groomsport and Main Street, Groomsport and went into liquidation on 21 March 2016 owing creditors over £408,000.

The Department for the Economy accepted disqualification undertakings of 10 years from Paul Stephen O’Kane and six years from Amanda O’Kane on 30th May 2019.

The disqualifications were due to the directors “failing” to account for cash amounts of at least £651,890 in the books and records of the company and for diverting cash from the company to their personal bank account.

During the period of trading the directors also understated sales revenue which resulted in a loss to Her Majesty’s Revenue and Customs in respect of taxes due of £322,613.47. The Department also deemed that the directors had failed to keep accurate accounting records in breach of the Companies Act 2006.

A statement by the Department for Economy read: “Their disqualification means that both will be banned from acting as company directors and from being involved either directly or indirectly in the promotion, formation or management of a limited company.

“The Department has accepted four Disqualification Undertakings in the financial year commencing 1 April 2019.”

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