Name: Harry Alexander BARCLAY

Name: MORSE STREET DEVELOPMENTS LTD, PNX LIMITED

Date of Birth: 16 / 7 / 1979

Date Order Starts: 8 / 12 / 2022

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 10988988, 08244401

Last Known Address: Aldwych House,, Winchester Street,, , , ANDOVER,, SP10 2EA

Conduct: On 11 May 2020 Harry Alexander Barclay (“Mr Barclay”) caused Morse Street Developments Limited (‘Morse Street’), to fraudulently apply for a £50,000 Government backed Bounce Back Loan (‘BBL’) by including false information relating to the level of turnover as of 30 September 2019 and failed to ensure that the BBL funds were used for the economic benefit of the Company, in that: • Morse Street was incorporated on 29 September 2017. • The BBL criteria allowed a business to borrow between £2,000 and up to 25% of the company turnover (up to a maximum of a £50,000 loan). For a company to be eligible for a BBL of £50,000, an annual turnover of £200,000 was required, the turnover figure concerned being that for the calendar year 2019; • The application for the BBL recorded a turnover of £790,000 and the maximum of £50,000 was advanced on 12 May 2020. • The company’s accounts for the year ended 30 September 2019 declares turnover at £47,968. Based on the 2019 turnover the maximum BBL loan Morse Street was entitled to was £11,992. Therefore, Morse Street was not eligible for £38,008 of the BBL received. • On 13 May 2020, a payment of £50,000 was paid to his personal account to reimburse him in part for expenses he had occurred on behalf of the company. This payment breached the terms of the BBL which states that its intended purpose was to provide economic benefit to the business and not for personal purposes. • On 23 March 2022 Morse Street went into liquidation following a winding up petition. At liquidation Morse Street had outstanding liabilities of at least £1,368,037 including the BBL which remained unpaid at liquidation. 2. On 11 May 2020 Harry Alexander Barclay (‘Mr Barclay’) caused PNX Limited (‘PNX’), to fraudulently apply for a £47,000 Government backed Bounce Back Loan (‘BBL’) by including false information relating to the level of turnover as of 30 April 2019 and failed to ensure that the BBL funds were used for the economic benefit of the Company, in that: • PNX was incorporated on 08 October 2012. • The BBL criteria allowed a business to borrow between £2,000 and up to 25% of the company turnover (up to a maximum of a £50,000 loan). For a company to be eligible for a BBL of £50,000, an annual turnover of £200,000 was required, the turnover figure concerned being that for the calendar year 2019; • The application for the BBL recorded a turnover of £325,000 and £47,000 was advanced on 12 May 2020. • The company’s accounts for the year ended 30 April 2019 declares turnover at £88,033. Based on the 2019 turnover the maximum BBL loan PNX was entitled to was £22,008. Therefore, PNX was not eligible for £27,992 of the BBL received. • On 13 May 2020, a payment of £48,000 was paid to his personal account. This payment breached the terms of the BBL which states that its intended purpose was to provide economic benefit to the business and not for personal purposes. • On 11 May 2022 PNX went into liquidation following a winding up petition. At liquidation PNX had outstanding liabilities of at least £214,276 including the BBL which remained unpaid at liquidation. As director of PNX Limited (‘PNX’), between 01 August 2021 and 31 October 2021, Harry Alexander Barclay (‘Mr Barclay’) caused PNX to submit false VAT repayment claims totalling £247,833, in that: • PNX submitted VAT returns for period ending 08/21, 01 August 2021 to 31 August 2021, reclaiming VAT totalling £83,340. • PNX submitted VAT returns for period ending 09/21, 01 September 2021 to 30 September 2021, reclaiming VAT totalling £85,215. • PNX submitted VAT returns for period ending 10/21, 01 October 2021 to 31 October 2021, reclaiming VAT totalling £79,277. • On 11 May 2022, PNX went into liquidation following a winding up petition. At liquidation PNX had outstanding liabilities of at least £214,276 including £26,036 in HMRC liabilities. • On 13 May 2022, HMRC notified PNX that checks had been completed on the claims for VAT repayments for periods ending 08/21, 09/21 and 10/21. They stated that invoices and bank statements supplied in support of these claims appear not to be for genuine supplies. • They state that checks made to contracts and planning documents supplied as supporting evidence for the projects the company claimed to be working on during these VAT period appear not to be for genuine projects for this company. • On 16 June 2022, HMRC issued amendments to the amounts claimed on VAT returns. The VAT claims totalling £247,833 were adjusted to £0. 

This information is correct as at 18 / 11 / 2022

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