Name: Brendan Michael GAUGHAN

Name: GAUGHAN GROUP LIMITED

Date of Birth: 11 / 11 / 1982

Date Order Starts: 27 / 10 / 2022

Disqualification Length: 12 Years 0 Month(s)

CRO Number: SC655799

Last Known Address: 1 Calico Road,, , , , Newton Mearns,, G77 6GA

Conduct: Gaughan Group Limited (“GGL”) On 6 May 2020, Brendan Michael Gaughan (“BMG”) caused Gaughan Group Limited (“GGL”) to apply for a Bounce Back Loan (“BBL”) for the amount of £50,000 and did not use the funds for the economic benefit of GGL when he knew or ought to have known that GGL was not eligible for the loan in that: • Under the BBL scheme businesses could apply for a loan of between £2,000 and £50,000 subject to a maximum of up to 25% of turnover. The turnover figure required was that for the calendar year 2019 or where a business was established after 1 January 2019 it is their estimated turnover. The business should be engaged in trading or commercial activity in the UK at the date of the application, carrying on business on 1 March 2020 and have been adversely affected by coronavirus and use funds for the economic benefit of the company. • GGL was incorporated on 26 February 2020. • On 6 May 2020 BMG applied for a BBL OF £50,000 and BMG has confirmed he declared a turnover of £250,000 in the application. A review of the company bank statements and accounting records reveals a zero turnover. • On 18 March 2021 the company filed dormant accounts, at Companies House, for the period to 28 February 2021. • On 14 May 2020 £50,000 of BBL funds were paid into the company account. On the 1 June 2020 these funds were transferred to an associated company. • On 11 October 2021 the company entered liquidation with liabilities of £50,425 owed for the BBL only. Gaughan Property Limited (“GPL”) On 6 May 2020, BMG caused Gaughan Property Ltd (“GPL”) to apply for a Bounce Back Loan (“BBL”) for the amount of £50,000 and did not use the funds for the economic benefit of GPL when he knew or ought to have known that GGL was not eligible for the loan in that: • Under the BBL scheme businesses could apply for a loan of between £2,000 and £50,000 subject to a maximum of up to 25% of turnover. The turnover figure required was that for the calendar year 2019 or where a business was established after 1 January 2019 it is their estimated turnover. The business should be engaged in trading or commercial activity in the UK at the date of the application, carrying on business on 1 March 2020 and have been adversely affected by coronavirus and use funds for the economic benefit of the company. • GPL was incorporated on 27 February 2020. • On 6 May 2020 BMG applied for a BBL of £50,000 and BMG has confirmed he declared a turnover of £250,000 in the application. A review of the company bank statements and accounting records reveals a zero turnover. • On 18 March 2021 the company filed dormant accounts, at Companies House, for the period to 28 February 2021. • On 14 May 2020 £50,000 of BBL funds were paid into the company account. On the 1 June 2020 these funds were transferred to an associated company. • On 11 October 2021 the company entered liquidation with liabilities of £50,524 owed for the BBL only. Rentl Property Limited (“RPL”) On 6 May 2020, BMG caused Rentl Property Ltd (“RPL”) to apply for a Bounce Back Loan (“BBL”) for the amount of £35,000 and used the funds for his personal benefit when he knew or ought to have known that RPL was not eligible for the loan in that: • Under the BBL scheme businesses could apply for a loan of between £2,000 and £50,000 subject to a maximum of up to 25% of turnover. The turnover figure required was that for the calendar year 2019 or where a business was established after 1 January 2019 it is their estimated turnover. The business should be engaged in trading or commercial activity in the UK at the date of the application, carrying on business on 1 March 2020 and have been adversely affected by coronavirus and use the funds for the economic benefit of the company. • RPL was incorporated on 27 February 2020. • On 6 May 2020 BMG applied for a BBL of £35,000 declaring a turnover of £178,000 in the application. A review of the company accounting records reveals a turnover of £4,327 whilst the bank statements reveal business income of £140,350. • Between 19 May 2020 and 13 August 2020 £159,299 was transferred to a solicitor with regard to the purchase of properties. o On 26 March 2021, upon sale of the property, £140,350 was paid into the RPL bank account. • On 26 March 2021 £100,750 was paid to BMG from the company bank account. • On 1 April 2021 BMG used £29,465 to purchase the rights to a private registration from BMG. The Liquidator has had this independently valued at £11,000 whilst BMG has made an offer of £3,000. • On 11 October 2021 the company entered liquidation with liabilities of £33,851 owed for the BBL only. 

This information is correct as at 6 / 10 / 2022

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