Case details for Kieran Noor

Name: Kieran Noor

Name: READY MOVE PROPERTY GROUP LTD

Date of Birth: 4 / 8 / 1996

Date Order Starts: 3 / 5 / 2022

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 11734851

Last Known Address: 9 Marlborough Road, Castle Bromwich, , , BIRMINGHAM, B36 0EH

Conduct: Kieran Noor (“Mr Noor”) caused Ready Move Property Group Limited (“Ready Move”) to wrongly apply for and obtain a Bounce Back Loan (“BBL”) of £50,000 at a time when there is no evidence that Ready Move was trading and when he knew or ought to have known that Ready Move was not eligible for that loan because it did not meet the turnover requirements for the BBL scheme. Further, Mr Noor has failed to provide accounting records evidencing that BBL funds totalling £43,134 were used for the economic benefit of Ready Move, which was a requirement of the BBL scheme, in that: 1. On 14 July 2020, Mr Noor applied for a BBL of £50,000 on behalf of Ready Move. In the BBL application form, Mr Noor declared that Ready Move’s turnover in the calendar year 2019 was £244,000. 2. The BBL scheme allowed businesses affected by the Coronavirus pandemic to apply for a government backed loan of between £2,000 and £50,000, up to a maximum of 25% of turnover in the calendar year 2019. 3. No sales invoices have been delivered up to the Liquidator. However, total customer receipts into Ready Move’s bank account in the calendar year 2019 were £7,281. The last customer receipt shown in the bank statements was on 11 September 2019. Mr Noor has failed to provide evidence that Ready Move continued to trade after that date. 4. This was below the turnover level of £8,000 that was required to obtain the minimum BBL of £2,000 and so Ready Move was not eligible for the BBL scheme. 5. On 11 September 2020, following £50,000 credited to Ready Move’s bank account in respect of the BBL the total balance of the account was £50,000. 6. Between 13 September 2020 and 15 September 2020, following receipt of the BBL funds, Mr Noor received payments from Ready Move totalling £19,700. Mr Noor stated that he was owed this money by Ready Move, but he has failed to provide any evidence in support of that. Consequently, it has not been possible to verify that the payments made to Mr Noor were for the economic benefit of Ready Move. 7. Between 13 September 2020 and 10 December 2020, Ready Move’s bank statements show cash withdrawals totalling £22,045. Mr Noor has stated that the cash was used for business expenses. Mr Noor has provided receipts and purchase invoices dated between 28 September 2020 and 09 December 2020 showing payments for property repairs and improvements totalling £17,914. Mr Noor has stated that Ready Move traded as a serviced apartment provider. 8. However, abbreviated accounts filed at Companies House for the year ended 31 December 2019 and approved by Mr Noor on 16 November 2020 state that Ready Move had no assets. The Statement of Affairs signed by Mr Noor on 21 April 2021 listed the only asset to be cash at bank. There is therefore no evidence that Ready Move had any leasehold, freehold or any financial interest (whether by legal title or beneficial interest) in any properties. 9. Mr Noor has failed to provide any evidence of any contract or other agreement requiring Ready Move to pay for property repairs and improvements on properties in which Ready Move did not have an interest. In the absence of any such evidence, it has not been possible to verify that the cash withdrawals of £22,045 were used for the economic benefit of Ready Move. 10. Between 17 September 2020 and 26 October 2020, Ready Move’s bank statements show further payments out of the bank account totalling £1,389. No evidence has been provided showing that these payments were for the economic benefit of the company. 11. The bank statements show that £6,766 was paid to the liquidator in March 2021 and the balance on the bank account at the date of liquidation was £100. 12. On 24 April 2021, Ready Move went into liquidation. 13. According to the Statement of Affairs dated 21 April 2021, £50,000 remained outstanding at that time in respect of the BBL. 

This information is correct as at 13 / 4 / 2022



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