Case details for Joseph Oliver

Name: Joseph Oliver

Name: YOUR PERSONAL TRAINING UK LIMITED

Date of Birth: 19 / 5 / 1983

Date Order Starts: 28 / 3 / 2022

Disqualification Length: 7 Years 0 Month(s)

CRO Number: 06764323

Last Known Address: 11 Back Green,, Outlane,, , , HUDDERSFIELD,, HD3 3YT

Conduct: From 20 March 2020 Mr Joseph Henry Oliver (Mr Oliver) caused Your Personal Training UK Ltd (YPTU) to make transactions to the detriment of creditors and to his own benefit totalling £233,150. The company was placed into non-compulsory liquidation on 3 September 2020 with debts of £638,454, in that: Your Personal Training UK Ltd was incorporated in December 2008 and traded profitably providing training and support services for personal trainers in the fitness industry. Due to the Coronavirus pandemic all gyms were forced to close on 20 March 2020 and at this point the company had to stop trading. On 20 March 2020 the balance in the company bank account was £161,375 and total company creditors were £252,294. Net position -£90,919 Between 20 March 2020 and 18 May 2020 the company received trading income of £1,954 and a payment of £6,657 under the HMRC Job Retention Scheme (JRS). Between 20 March 2020 and 18 May 2020 the company refunded all clients at a cost of £47,647, made payments totalling £12,935 to staff and paid £45,300 to Mr Oliver for his own benefit. Mr Oliver has been asked for his explanation but has failed to account for these transactions to his benefit. This increased the position of insolvency to - £188,190. On 19 May 2020 Mr Oliver obtained a Funding Circle loan of £250,000 intended to provide financial support to the company through the Coronavirus pandemic. In a questionnaire he completed on 9 April 2021 he stated his intention for the loan funds was to pay: ‘creditors, salary top ups from 80% furlough, NI payments, living expenses’ Between 19 May 2020 and liquidation the company received trading income of £2,454 and 3 payments totalling £17,234 under the HMRC Job Retention Scheme (JRS). Between 19 May 2020 and liquidation payments of £16,770 were made to staff and £177,850 was paid to Mr Oliver for his own benefit. Mr Oliver has been asked for his explanation but has failed to account for the transactions to his benefit. Mr Oliver sought financial advice for the first time on 16 July 2020. Included in the figures above are transfers totalling £2,500 into his personal bank account and £11,880 to an associate made on that day. Mr Oliver decided the company would no longer trade on 23 July 2020 after which date he spent £3,415 on electrical products, transferred £11,170 into his personal bank account, withdrew £1,500 cash, and continued to use the company bank account for personal on-line activity at a cost of £5,411. So in total from the date the company ceased trading on 20 March 2020 the bank account shows £233,150 was paid for the benefit of Mr Oliver. Between 20 March 2020 and liquidation the deficiency regarding creditors of the company increased from £90,919 to £638,454 

This information is correct as at 8 / 3 / 2022



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