Cornelius O’Grady, 51, of Polar Scaffolding (Bristol) was disqualified from acting as a director for six years for failing to keep adequate records.

His scaffolding firm entered voluntary liquidation two years ago with no assets and liabilities of just over £143,000.

Investigations by the firm’s liquidator and then the Insolvency Service were not able to confirm what had happened to over £150,000 of the company’s assets, or verify between the last accounts and the liquidation whether O’Grady received the £70,000 the company owed him.

O’Grady did not dispute that he had failed to make sure that the firm preserved and produced adequate accounting records.

Robert Clarke, head of Insolvent Investigations North at the Insolvency Service,  said: “Without a full account of transactions it is impossible to determine whether a director has discharged his duties properly, or is using a lack of documentation as a cloak for impropriety,”

“This Director has paid the price for failing to do that, as he cannot now carry on in business other than at his own risk.”