This is the background that has led the Company Director named being given a 10 year ban which starts today, the 28th of June 2023
Steven Dixon (Mr Dixon) caused Breaking Addiction Limited (Breaking Addiction) to apply for a Bounce Back Loan (BBL) of £15,000 on 03 June 2020 when it did not meet the criteria for the BBL scheme and thereafter did not use the funds received for the economic benefit of the company.
In that:
- The company was incorporated on 11 January 2019.
- A business could apply for a loan of between £2,000 and £50,000 subject to a maximum of up to 25% of turnover in the calendar year for 2019.
- If established after 01 January 2019 the company could apply the 25% limit to its estimated annual turnover from the date the business was started.
- A business must be carrying on its business on 1 March 2020 and declare that it was engaged in trading or commercial activity in the United Kingdom as at the date of the application and the business had been adversely impacted by Covid-19.
- On 03 June 2020 Mr Dixon used an estimated turnover of £62,000 to obtain a BBL of £15,000.
- On 11 February 2021 the company filed dormant accounts at Companies House for the year ending 31 January 2020.
- On 08 April 2021 the company filed dormant accounts at Companies House for the year ending 31 January 2021.
- On 04 June 2020 £15,000 BBL was deposited into the company bank account.
- There was no income into the company bank account prior to the BBL funds being received.
- On 08 June 2020 £15,000 was transferred from the company bank account to Steven Dixon, Director.
- The funds were used to buy a motor vehicle not registered as a company asset.
- On 16 December 2021 Breaking Addiction entered liquidation with total liabilities of £15,001 in relation to the BBL.
