A DIRECTOR of an Accrington nightclub which failed in 1999 with debts of more than £150,000 has agreed to be disqualified from being a company manager for five years.

James Wood, who ran Churchills nightclub in Cannon Street, Accrington was director of Gamebell Ltd which owned the nightclub, its only asset, up to April 1999.

Mr Wood has agreed with the Secretary of State for the Department of Trade and Industry not to hold directorships or take part in any company management for five years.

Gamebell Ltd was placed into compulsory liquidation by order of the Leeds District Registry on July 25 2000 on the petition of H M Customs and Excise for £147,638 owed in unpaid VAT from May 1996 to October 1997.

The company has an estimated total deficiency of £151,795.

Unfit conduct by Mr Wood found by the receivers was that he caused Gamebell Ltd to fail to file VAT returns on time between July 1996 and April 1998.

And when these returns were submitted in June 1999 they did not declare the correct amount of VAT due.

Mr Wood, of Higher Market Street, Kearsley, Bolton, also failed to preserve the company's accounting records.

This resulted in the Official Receiver being unable to properly determine whether the amounts distributed from the proceeds of the sale of Churchill's nightclub, in April 21 1999 for £430,000, were to the detriment of Customs and Excise.

In addition Mr Wood transferred the liability for repaying an outstanding director's loan of £180,000 to the purchaser on the nightclub Baden Investments Ltd.