Case details for JACK CHRISTOPHER HAZELDINE

Name: JACK CHRISTOPHER HAZELDINE

Name: Hazeldine Engineering Limited

Date of Birth: 23 / 4 / 1989

Date Order Starts: 16 / 6 / 2022

Disqualification Length: 4 Years 0 Month(s)

CRO Number: 10352083

Last Known Address: 131 Thames View,, , , , ABINGDON,, OX14 3ZD

Conduct: On 27 May 2020 Jack Christopher Hazeldine (“Mr Hazeldine”) caused Hazeldine Engineering Limited (“the Company”) to apply for a Government-backed Bounce Back Loan (“BBL”) totalling £25,000 using overstated turnover figures in the loan application form. Consequently the company received more monies than it was entitled to from the BBL scheme. He did not use the money obtained in compliance with terms of the scheme as it was not used for the economic benefit of the company. In that: Overstatement of turnover • He declared that the Company’s estimated turnover was £100,000 within the BBL application. • The Company’s turnover for the year ended 31 August 2019 was £17,500 as stated in the Company’s trading accounts. • Financial statements lodged at Companies House for the year ended 31 August 2019 asserted turnover was £60,202. • The Company’s turnover for the year ended 5 April 2020 was £20,000 as stated in the Company’s trading accounts. • A Company is entitled to apply for a BBL of up to 25% of its turnover under the BBL scheme, as such the Company was eligible for a BBL of no more than £5,000 per the Company’s trading accounts and bank statements, and no more that £15,050 per the Financial Statements lodged. • The Company’s turnover was insufficient to be eligible to receive a BBL in the sum applied for and obtained, being £25,000. Misuse of BBL funds obtained • On 28 May 2020 £25,000 was received in the Company’s bank account, being the proceeds of the BBL. • On the same day as the BBL was paid into the Company’s bank account, the sum of £24,000 was transferred to him directly. • The terms of the BBL stated that its intended purpose was to provide economic benefit to the business and not for personal purposes. • When asked what the BBL was used for he said that 50% of the bounce back loan was used to re-invest in the company and some was used on personal financial payments. • The BBL was paid directly to him for his benefit. There is no evidence to demonstrate that 50% of the BBL was used for business expenditure and economic benefit of the Company. • At the date of the liquidation, the only creditor was the BBL provider for £25,000. 

This information is correct as at 26 / 5 / 2022



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