MICHELLE Mone has quit as a director of her controversial diet pill firm leaving her with just one active business despite her role as the UK Government's new entrepreneurship czar.

The 44-year-old Tory peer, who has been touring the country advising on business start ups, left the loss-making TrimSecrets last month.

Baroness Mone, who is due to be introduced to the House of Lords today, now has only one directorship in a company that is not dormant – the year-old Ubeauty. It has never filed any accounts.

The Herald revealed yesterday the remains of the lingerie firm she founded with her husband posted yet more losses.

Baroness Mone resigned as a director of lingerie company Ultimo Brands in August this year after gradually reducing her stake.

Accounts published this week showed it recorded a retained loss of £388,000.

The firm is so small it only reveals abbreviated accounts.

However, a spokesman for the peer insisted that she still had a number of business interests.

He said: "Lady Mone retains a growing portfolio of business interests as well as her work on the report for the government on how to help entrepreneurs behind their own start-up businesses in deprived areas."

"Her work for the government is being done on a voluntary and unpaid basis."

There was no response to a request for further details of the portfolio cited by the spokesman.

But Baroness Mone's high profile activities include inspirational speaking, has appeared on television and has recently marketed jewellery on a shopping channel.

Companies House currently lists Baroness Mone as a director of UBeauty, set up last year and believed to be a vehicle for her fake tan business, and of MJM Media, a dormant firm.

Senior business leaders have questioned Baroness Mone's suitability for her role and her credentials as an entrepreneur.

Several, including prominent Scottish unionists, had lobbied the office of Prime Minister David Cameron asking for her to not to be ennobled.

She was expected to take her place in the House of Lords on Thursday.

Labour MSP Neil Findlay said: "With each day I become less convinced that Michelle Mone is the right person to give advice to the next generation of businessmen and businesswomen.

“It appears she has very little left to offer by way of business acumen. David Cameron should reconsider her appointment.”

Baroness Mone claimed that TrimSecrets, which she set up with the well known Scottish-based naturopath and homeopath Jan de Vries, who died in July, helped her to lose six stones and keep her weight down.

However, scientists have previously questioned the value of the product.

Professor Mike Lean, chairman of Human Nutrition at the University of Glasgow, said: "If people have lost weight while taking TrimSecrets pills, it is because they have been eating less calories than they are using up. I take a very dim view of people taking advantage of others." Aisling Pigott, a spokeswoman for the British Dietetic Association, this summer said that from a scientific perspective, TrimSecrets - which cost £15 for two weeks' supply - amounted to "snake oil".

She added: "If she [Ms Mone] is to be seen as a public figure, how ethical is it to be selling a magic answer to weight loss when we know it's not that simple?"

A spokesman for Baroness Mone previously said that TrimSecrets tablets were legal and had never been specifically marketed as a diet pills.

The company last filed abbreviated accounts dated up to April 2014 showing a net deficit of £6,491 on assets of under £20,000.

Ms Mone's daughter Rebecca, 23, already a TrimSecrets shareholder, has taken her place on the board.