Case details for GEORGE DAVID LACEY

Name: GEORGE DAVID LACEY

Name: GDL INSTALLATIONS LIMITED

Date of Birth: 22 / 7 / 1990

Date Order Starts: 4 / 12 / 2023

Disqualification Length: 10 Years 0 Month(s)

CRO Number: 11639514

Last Known Address: 21 Storer Drive, , , , WELLING, DA16 1AA

Conduct: George Lacey (“Mr Lacey”) breached the terms of the Bounce Back Loan (“BBL”) Scheme by causing GDL Installations Limited (“GDL”) to overstate its turnover on its application for a BBL resulting in the company receiving a BBL of £50,000 when he knew or ought to have known that GDL was only eligible for a loan to a maximum value of £14,970 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.?? GDL was incorporated on 24 October 2018.? Mr Lacey declared on the company’s BBL application form an actual annual turnover of £200,000 for 2019, and consequently on 15 June 2020 GDL received a £50,000 BBL, the maximum loan amount possible under the BBL scheme. ?? Accounts for the accounting period ended 31 October 2019 show turnover of £51,084. GDL bank statements for the period 01 January 2019 to 31 December 2019 show bank receipts totalling £59,876.25 meaning GDL was only eligible to apply for a BBL of £14,970. The overstatement of turnover totalling £140,123 meant that GDL received £35,030 more than it was entitled to from the BBL scheme. At liquidation, GDL had liabilities totalling £56,788, of which £50,288.21 was owed to the bank in respect of the BBL. 

This information is correct as at 15 / 11 / 2023



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