Name: Mark Gerard Ritchie

Name: KIA KARS LTD

Date of Birth: 8 / 1 / 1980

Date Order Starts: 29 / 9 / 2026

Disqualification Length: 12 Years 0 Month(s)

CRO Number: 11086464

Last Known Address: 98 Gidlow Road South,, , , , LIVERPOOL,, L13 2AH

Conduct: Mark Gerard Ritchie (“Mr Ritchie”) breached the terms of the Bounce Back Loan (“BBL”) scheme by causing Kia Kars Ltd (“Kia Kars”) to overstate its turnover when applying for a BBL. As a result, Kia Kars received a £50,000 BBL when Mr Ritchie knew, or ought to have known, that Kia Kars was not eligible for a loan of that amount and failed to use the entirety of the BBL for the economic benefit of the company, in that: - Under the BBL scheme, businesses could apply for a 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 from the date trade commenced. The terms and conditions of the BBL stated that the loan was to be used to provide economic benefit to the company, wholly for business purposes and not personal purposes. - Kia Kars was incorporated on 28 November 2017 and started trading during the same month. - Mr Ritchie submitted an application to obtain a £50,000 BBL on behalf of Kia Kars, declaring that its turnover for the calendar year 2019 was £235,000. - On 28 May 2020, Mr Ritchie signed the agreement for the obtention of the BBL, and on the following day, BBL funds of £50,000 were credited into Kia Kars’ bank account. - Accounts for the year ending 30 November 2019 show that Kia Kars had a turnover of £62,309.00. - Analysis of Kia Kars’ bank account shows that Kia Kars received total incoming funds of £99,318.46 during the calendar year 2019. - Based on the income received into its bank account during 2019, Kia Kars was entitled to apply for a BBL of up to £24,829.62. - The overstatement of turnover meant that Kia Kars received at least £25,170.38 more than it was entitled to from the BBL scheme. - Between 30 May 2020 and 5 June 2020, at least £21,000 from the BBL funds was transferred to Mr Ritchie’s personal bank account and these payments were not for the economic benefit of Kia Kars. - Kia Kars entered liquidation on 15 November 2022 with liabilities totalling £58,732.46, of which at least £48,000.00 relates to the amount owed in respect of the BBL. 

This information is correct as at 10 / 9 / 2026

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