Case details for Jason Richard MEADS

Name: Jason Richard MEADS

Name: Hodl Clothing Limited

Date of Birth: 8 / 3 / 1989

Date Order Starts: 31 / 10 / 2022

Disqualification Length: 10 Years 0 Month(s)

CRO Number: 11314684

Last Known Address: Flat 3/A, 7 Lennox Mansions,, , , , Clarence Parade,, PO5 2HZ

Conduct: Jason Richard Meads (“Mr Meads”) caused Hodl Clothing Limited (“Hodl”) or (“the Company”) to apply for two Bounce Back Loans (“BBL”) totalling £37,500 using overstated turnover figures in the application forms. Consequently, Hodl received £37,500 more monies than it was entitled to from the BBL scheme. Furthermore, he failed to ensure that the BBL funds were used for the economic benefit of the Company, in that: • A business could apply for a BBL of between £2,000 and £50,000 subject to a maximum of up to 25% of its turnover in 2019. • In the first BBL application, Hodl’s turnover for 2019 was stated to be £150,000. • Financial Statements detail that Hodl achieved zero turnover in the years ended 30 April 2019 and 30 April 2020 respectively. • Hodl’s bank statements show total credits of £40,044.40 in the 2020 calendar year, of which £37,500 was received from the BBL scheme. • On 02 July 2020 and 29 December 2020, Hodl obtained £33,000 and £4,500 respectively from the BBL scheme. Hodl received £37,500 more monies than it was entitled to. • Between 03 July 2020 and 14 September 2021 bank statements show that £36,420 from the BBL funds were transferred to him and he has provided no evidence to show that these funds were used for the economic benefit of the Company. • On 29 October 2021, Hodl entered into Creditor’s Voluntary Liquidation with total liabilities of £38,509.50 of which £36,959.50 was the BBL. 

This information is correct as at 13 / 10 / 2022

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