Name: Leigh Pendleton

Name: DYNAMIC BUYS LTD

Date of Birth: 26 / 2 / 1986

Date Order Starts: 23 / 4 / 2025

Disqualification Length: 10 years Years 0 Month(s)

CRO Number: 12242528

Last Known Address: 12 Balfern Grove, , , , London, W4 2JX

Conduct: Mr Leigh Andre Pendleton (“Mr Pendleton”) caused Dynamic Buys Limited (“DB”) to breach the terms & conditions of the Bounce Back Loan (“BBL”) scheme by applying for a BBL of £50,000 to which it was not entitled. Consequently, DB received monies that it was not entitled to from the BBL scheme. Furthermore, funds received from the BBL totalling were not used for the economic benefit of DB in that: • The Bounce Back Loan (“BBL”) criteria allowed a company to borrow between £2,000 and a maximum of £50,000 based on 25% of the company’s turnover for the 2019 calendar year. The eligibility criteria were that a business was established and actively trading at 01 March 2020. Where the business was established after 1 January 2019, an estimate of turnover could be used with the applicant required to apply the 25% limit to the estimated annual turnover calculated from the date they started the business • DB was incorporated on 03 October 2019 and commenced trading around April 2020. • In the BBL application form completed by Mr Pendleton on 27 May 2020, DB’s turnover was stated to be £200,000. • Analysis of DB’s bank statements indicates that the first purchase of stock was on 30 April 2020. DB’s Financial Statement for the period 03 October 2019 to 31 October 2020 indicates that DB had turnover of £359 for this reporting period. Analysis of DB’s bank statements indicates this turnover was received on 26 May 2020. As such prior to the BBL application DB’s income was £359. • Mr Pendleton stated in respect of the turnover figure used on the BBL application, ”The projected turnover of £200,000 was based on a business plan replicating a successful strategy from a related company …. This projection was made in anticipation of securing contracts and scaling operations, which unfortunately did not materialize due to the economic downturn caused by the COVID-19 pandemic.” • On the basis of the above information DB was not eligible for a BBL. • The BBL Scheme required the applicant to declare that the BBL funds would be used for the economic benefit of the Company. • The BBL of £50,000 was paid into the company bank account on 29 May 2020. • The balance on DB’s bank account prior to receipt of the BBL was £359.10. • Between 06 July 2020 and 26 May 2021, DB made payments totalling £39,650 to connected third party company as intercompany loans. • DB’s Financial Statements for the period ended 31 October 2020 and year ended 31 October 2021 and analysis of the Company’s bank statements show that in the period 06 July 2020 to 26 May 2021 the company received no turnover. • Payments totalling £14,696 have subsequently been received to reduce the balance of the intercompany loans to £24,954. • There is no evidence to show these payments were for the economic benefit of the business. • DB entered liquidation on 13 December 2023. The BBL lender is a creditor in the liquidation for £48,491 in respect of the BBL. 

This information is correct as at 4 / 4 / 2025

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