Name: Stuart Hughes

Name: SH SAFETY CONSULTING LIMITED

Date of Birth: 13 / 1 / 1979

Date Order Starts: 19 / 12 / 2022

Disqualification Length: 7 Years 6 Month(s)

CRO Number: 10782728

Last Known Address: Woolverton Villa,, Woolverton,, , , BATH,, BA2 7PR

Conduct: Between 04 May 2020 and 21 May 2020, Stuart Peter James Hughes (“Mr Hughes”) caused SHSC to breach the conditions of the Bounce Back Loan Scheme by applying for two Bounce Back Loans of £50,000 each and removing those funds for his personal benefit which was not for the economic benefit of SHSC. Furthermore, Mr Hughes failed to disclose the existence of the Bounce Back Loans to the Liquidator as liabilities in the liquidation proceedings. In that: Bounce Back Loan Scheme conditions state that a business should not apply for a loan if it is already in the process of applying for, or has already received, a Bounce Back Loan Scheme facility, the exception being a top-up if they originally borrowed less than the maximum amount (£50,000) available. The funds are to be used for the economic benefit of the business; On 04 May 2020, Mr Hughes applied for a Bounce Back Loan of £50,000 on behalf of SHSC; On 08 May 2020, funds of £50,000 were credited to SHSC’s current bank account 1; Between 09 May 2020 and 14 May 2020, funds of at least £50,000 were transferred from SHSC’s account 1 to Mr Hughes’ personal bank account; On 21 May 2020, Mr Hughes applied on behalf of SHSC for a second Bounce Back Loan of £50,000 with a different financial institution; Also, on 21 May 2021, funds of £50,000 were credited to SHSC’s current bank account 2. On the same day, an amount of £50,000 was transferred to Mr Hughes’ personal bank account; On 05 June 2020, and following advice from SHSC’s accountant, Mr Hughes instructed the Insolvency Practitioner to commence the liquidation proceedings. Mr Hughes then failed to schedule both loans as liabilities in the signed Statement of Affairs; At the date of the Liquidation on 16 June 2020, a total of £161,552 was owed to creditors, of which at least £59,152 was owed to HMRC in respect of CT and VAT, £100,000 in respect of the Bounce Back Loans and £2,400 to trade creditors. 

This information is correct as at 28 / 11 / 2022

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