Name: Leonard  Carr-Roberts

Name: LCR INVESTMENTS LTD

Date of Birth: 21 / 5 / 1973

Date Order Starts: 14 / 2 / 2025

Disqualification Length: 10 Years 0 Month(s)

CRO Number: 12244475

Last Known Address: Crawley Road,, , Crawley,, , WINCHESTER,, SO21 2PD

Conduct: 1. On 05 May 2020 Mr Leonard Carr-Roberts (‘Mr Carr-Roberts’) signed an application for LCR Investments Ltd (‘LCR’) to obtain a second Government-backed Bounce Back Loan (‘BBL’), of £50,000, contrary to the terms of the BBL scheme which did not allow for two loans to be obtained by the same business. In that: • The BBL scheme permitted a loan of up to 25% of a business’ turnover in the calendar year 2019, or estimated annual turnover if it had been established after 01 January 2019, up to a maximum of £50,000; • However only one BBL per business was permitted and there was a standard declaration on the application form that it was the only BBL applied for; • On 05 May 2020 Mr Carr-Roberts submitted an application to its bank, Bank A, for a BBL of £50,000; • On the same day Mr Carr-Roberts applied for a second BBL of £50,000 from another bank, Bank B; • On 06 May 2020 the BBL was paid into LCR’s account with Bank B and on 07 May 2020 it received an amount of £50,000 into its account with Bank A; • Although Mr Carr-Roberts has stated that the second loan was applied for in error, these monies were retained by LCR and disbursed. • At the liquidation date £35,211 was outstanding to Bank A and £32,241 to Bank B for the BBLs. 2. Mr Carr-Roberts failed to register LCR for VAT, despite its income breaching the VAT threshold by 31 December 2020 at the latest. As a consequence, at least £173,490 was retained in VAT which should have been accounted for to HM Revenue & Customs (‘HMRC’). In that: • HMRC has advised that LCR was not registered for VAT; • In 2020 the VAT threshold for registration was £85,000; • The turnover figure entered on each BBL application by Mr Carr-Roberts in May 2020 was £1.2m; • Accounts prepared for LCR for the period from incorporation to 31 December 2020 record turnover of £534,331; • Accounts for the following year disclose turnover of £802,002 • LCR’s accountant provided a figure of £173,490 for outstanding VAT as at July 2023; • LCR did not cease trading until 18 October 2023 and therefore additional VAT would have accrued up to that date; • As at 31 December 2021 Mr Carr-Roberts owed LCR £24,756 in respect of an overdrawn director’s loan account (‘DLA’); • By the liquidation date the amount owed on the DLA had increased to £120,149. • HMRC was owed a total of £296,013 at the liquidation date. 

This information is correct as at 24 / 1 / 2025

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