Name: Micheal Clay

Name: ELITE RENTIER LTD

Date of Birth: 2 / 7 / 1945

Date Order Starts: 6 / 8 / 2026

Disqualification Length: 9 Years 0 Month(s)

CRO Number: 09570059

Last Known Address: 18, Vale Close, Mansfield, , , NG18 4HR

Conduct: In May 2020, Michael Clay (“Mr Clay”) caused Elite Rentier Ltd (“Elite”) to breach the terms and conditions of the Bounce Back Loan (“BBL”) scheme by overstating Elite’s turnover when applying for a BBL. As a result, Elite received a £50,000 BBL when Mr Clay knew, or ought to have known, that Elite was not eligible for a BBL of any amount. In that: • Under the BBL scheme, businesses could apply for one loan of between £2,000 and £50,000 subject to a maximum of up to 25% of turnover. The turnover figure was self-certified by the applicant. The turnover figure required was that for the calendar year 2019, or where a business was established after 01 January 2019, an estimated annual turnover could be used. • Elite was incorporated on 30 April 2015, started trading before 01 January 2019, and was therefore not allowed to estimate its turnover when applying for a BBL. • In May 2020, Mr Clay applied for a £50,000 BBL on behalf of Elite, declaring that its annual turnover for the calendar year 2019 was £200,000. Mr Clay signed the BBL agreement on 22 May 2020, and BBL funds of £50,000 were credited into Elite’s bank account on the same day. • Accounts prepared for the accounting year ending 30 April 2020 show that Elite had turnover classed as “Other income” of £7.00 during accounting year ending 30 April 2019, and nil turnover during year ending 30 April 2020. • Based on the turnover shown in the year-end accounts, Elite was not eligible to apply for a BBL of any amount and therefore Elite received £50,000 more than it was entitled to from the BBL scheme. • On 08 November 2023, Elite entered Liquidation with liabilities totalling £721,464.26, of which £43,275.96 was owed in respect of the BBL. 

This information is correct as at 7 / 8 / 2026

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