Here are the details of this case involving a Barclays Bounce Back Loan.
On 12 August 2020, Melhony Elizabeth Whitty (“Ms. Whitty”) caused Boulevard Enterprises Limited (“Boulevard”) to apply for a Coronavirus Bounce Back Loan (“BBL”) of £30,000 and overstate Boulevard’s turnover, when she knew or ought to have known that Boulevard was not eligible for that amount.
As a result, Boulevard received BBL funds that it was not entitled to
In that:
- The BBL scheme terms allowed businesses to receive a loan of up to 25% of their annual turnover for the 2019 calendar year, which the applicant would self-certify when completing the BBL application.
- The turnover figure required was that for the calendar year 2019 or where a business was established after 1 January 2019 it is their estimated turnover.
- Boulevard was incorporated on 27 November 2013, and was therefore obliged to use turnover for the full calendar year of 2019. Boulevard’s professionally prepared accounts for year ending 30 November 2019 and subsequently filed at Companies House showed a turnover of £7,700.
- Boulevard’s professionally prepared accounts for year ending 30 November 2020 and subsequently filed at Companies House showed a turnover of £74,358.
- On 12 August 2020, Ms. Whitty applied for a BBL of £30,000 on behalf of Boulevard.
- The minimum 2019 turnover required would be £120,000.
- The annual turnover Ms. Whitty declared that Boulevard’s turnover was £200,000 for the calendar year of 2019.
- Total liabilities at Liquidation amount to £24,501 of which £24,500 relates to the amount owed in respect of the BBL.
