The boss of a failed travel agency has been banned from running a company for seven years following an Insolvency Service probe.

Helen Jacobs set up ICharter Limited in Chatham, Kent in November 2014.

But the business went into liquidation in March last year after it could not pay debts of more than £127,000.

A subsequent investigation by the Insolvency Service established that Jacobs failed to maintain ICharter’s books and records from December 2015.

As a result, it has not been possible to determine whether various payments from the company’s account worth close to £400,000 were made in the normal course of business, according to the Insolvency Service.

This included £193,000 paid to Jacobs’ account and more than £186,000 in debit card transactions.

A disqualification undertaking from Jacobs for a period of seven years was accepted last month.

She is now banned from directly or indirectly becoming involved, without the permission of the court, in the promotion, formation or management of a company.

Martin Gitner, deputy head of insolvent investigations at the Insolvency Service, said: “Helen Jacobs had a vast amount of experience in the travel industry and should have know that directors have a duty to maintain and preserve a record of financial transactions.

“This seven-year ban should reinforce to company directors the importance of maintaining accurate accounts.”

Disqualification undertakings are the administrative equivalent of a disqualification order but do not involve court proceedings.

A spokesman for the Insolvency Service declined to confirm whether evidence in the case had been passed on to police.