Case details for RICHARD MADDISON

Name: RICHARD MADDISON

Name: RS TOTAL FITNESS LTD

Date of Birth: 24 / 6 / 1980

Date Order Starts: 30 / 10 / 2023

Disqualification Length: 10 Years 0 Month(s)

CRO Number: 08461215

Last Known Address: 44 Beadnell Drive, , , , SEAHAM, SR7 7WG

Conduct: On 14 August 2020 Richard Maddison (‘Mr Maddison’) caused RS Total Fitness Ltd (‘RS’) to breach the conditions of the Bounce Back Loan ("BBL") facility by applying for a BBL of £23,000 when he knew or ought to have known that RS was not entitled to the loan having previously applied for and received a BBL of £14,500 on 12 May 2020. In addition, Mr Maddison provided misleading information in two BBL applications, by over-estimating the turnover of RS, resulting in RS receiving £26,114 more in BBL funds than it was eligible for: ? ? Under the BBL scheme businesses were able to apply for up to 25% of their 2019 calendar year turnover, to a maximum of £50,000. Businesses which originally borrowed less than the maximum amount available to them under the Scheme were eligible to top-up their original loan, however the total loan amount was not to exceed 25% of the business’s turnover. Only one loan was available to businesses.?? Bank statements show turnover in calendar year 2019 of £45,554, meaning the maximum BBL that RS was eligible for was £11,386. ? Mr Maddison made an application for a BBL of £14,500 on behalf of RS on 12 May 2020, declaring 2019 turnover of £59,000. The BBL funds were paid into RS’ bank account on 14 May 2020.??? ? Mr Maddison made a further BBL application for £23,000 on behalf of RS on 14 August 2020, declaring 2019 turnover of £95,000.?? ? On 14 August 2020, Mr Maddison signed the declaration on the application form and BBL agreement confirming that RS had not received any other BBL.? ? Funds of £19,634 from RS’ second BBL application were paid into its bank account on 17 August 2020.? Total liabilities at liquidation amount to £72,367 of which £32,819 relates to amounts owed in respect of the 2 BBLs.?? ? 

This information is correct as at 9 / 10 / 2023



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