Name: Richard DWYER

Name: REYWOOD HOLDINGS LTD

Date of Birth: 22 / 6 / 1977

Date Order Starts: 25 / 2 / 2025

Disqualification Length: 8 Years 0 Month(s)

CRO Number: 11263586

Last Known Address: C/O C20, G BLOCK ROAD,G BLOCK BKC,, BANDRA , KURLA COMPLEX, BANDRA EAST, , Mumbai, 400051

Conduct: Mr Richard Dwyer (“Mr Dwyer”) breached the terms of the Bounce Back Loan (“BBL”) scheme by causing Reywood Holdings Ltd (“RH”) to apply for a BBL when it was not eligible to do so, in that: • When applying for a BBL companies had to sign a declaration confirming that the Company was not part of a wider group which was in the process of applying for or had already received a BBL. • On 23 September 2020 Mr Dwyer received a BBL for an associated company, of which he was the sole director and Reywood was the owner of 100% of the shares for this company. • By signing the declaration on the BBL for RH on 29 September 2020, Mr Dwyer gave false information. • By falsely declaring that RH was not part of a wider group which was in the process of applying for or had already received a BBL, Mr Dwyer caused RH to apply for a BBL of £50,000 that it was not eligible for. Furthermore, Mr Dwyer caused RH to overstate its turnover on the application for a BBL, resulting in the company receiving a BBL of £50,000 when he knew, or ought to have known, that RH was not eligible for a loan of that value. In addition Mr Dywer failed to ensure that RH used the funds from the BBL for the economic benefit of the company. In that: • The BBL scheme terms allowed businesses to receive a loan of up to 25% of their annual turnover for the 2019 calendar year, which the applicant would self-certify when completing the BBL application.   • If a company was established after 01 January 2019, they were allowed to estimate the company turnover from the date the company started to trade. • RH was incorporated on 20 March 2018 and dormant accounts were filed up to 31 March 2020. It was eligible to estimate turnover should it have been trading at the date of the BBL application on 29 September 2020. • Mr Dwyer declared on the company’s BBL application form an annual turnover of £240,000, and consequently on 30 September 2020 RH received a £50,000 BBL, the maximum amount available. • The overstatement of turnover meant that RH received £50,000 more than it was entitled to from the BBL scheme. • The terms of the BBL scheme stated that the BBL was to be used only for the economic benefit of the business and used wholly for business purposes. • On 05 May 2021, Mr Dwyer caused RH to make a payment of £51,421 to a connected company. • Of the £51,421 paid to the connected company, at least £44,248 came from BBL funds. • The payment made to the connected company was not for the economic benefit of RH and was contrary to the terms of the BBL scheme. • RH entered Creditor’s Voluntary Liquidation on 24 August 2022. • At liquidation, RH had liabilities totalling £50,497 of which £49,538.14 was owed to the bank in respect of the BBL.  

This information is correct as at 4 / 2 / 2025

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