Case details for James Charles MCGUIRE

Name: James Charles MCGUIRE

Name: JCM ELECTRICAL SERVICES LTD

Date of Birth: 13 / 5 / 1993

Date Order Starts: 20 / 4 / 2022

Disqualification Length: 6 Years 0 Month(s)

CRO Number: SC601193

Last Known Address: 2 Bredisholm Crescent,, , , , Uddingston,, G71 5NH

Conduct: On 18 May 2020 James Charles McGuire (“Mr McGuire”) caused or allowed JCM Electrical Services Limited (“JCM”) to apply for a Bounce Back Loan (“BBL”) of £50,000 and used the funds for his personal benefit when he knew or ought to have known that JCM did not meet the criteria for that loan: 1. In order to be eligible for a BBL, both the Government and the Royal Bank of Scotland’s guidance stated that a company has to be established and operating before 1 March 2020 and the maximum that could be claimed is £50,000 based on 20% of the company turnover in 2019. 2. On the 18 May 2020 JCM made an application for a BBL in the sum of £50,000. Within the application a turnover of £230,000 was used. 3. Accounts to 31 May 2019 and 31 May 2020 previously submitted reveal a turnover of between £2,000 and £5,000. 4. On 20 May 2020 £50,000 was paid into the company bank account. 5. Bank accounts reveal that on 20 May 2020 he immediately withdrew £10,000 for his own use 6. Between 21 June 2020 and 28 September 2020 he withdrew a further £15,901 7. Between 20 May 2020 and 22 May 2020 £24,250 was expended through the company account to purchase Covid Personal Protection Equipment. No PPE was ever delivered. 8. Between 30 September 2020 and 18 May 2021 he withdrew additional £13,515 in salary, dividends and bank transfers. 9. At liquidation the bank where the sole creditor with a claim in the sum of £49,999. 

This information is correct as at 31 / 3 / 2022



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