Name: Adrian Meehan

Name: TOOLSHEDMUSIC LTD

Date of Birth: 24 / 9 / 1972

Date Order Starts: 16 / 2 / 2024

Disqualification Length: 8 Years 0 Month(s)

CRO Number: 07601433

Last Known Address: 179 Covington Way, , , , LONDON, SW16 3AH

Conduct: On 28 December 2020 Adrian Meehan (“Mr Meehan”) caused Toolshedmusic Ltd (“Toolshedmusic”) to make a Bounce Back Loan (“BBL”) application for £40,000, when he knew or ought to have known that Toolshedmusic was not eligible to a BBL of this amount. As a result, Toolshedmusic received more BBL funds of £24,115 more that it was not entitled to and 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 was self-certified by the application. 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 annual turnover from the date that the business was started. The BBL should only be used to provide an economic benefit to the business and not for personal purposes. Toolshedmusic was incorporated on 12 April 2011. On 28 December 2020 Mr Meehan signed a BBL agreement on behalf of Toolshedmusic for an amount of £40,000 declaring that its turnover was £350,000. Accounting information provided by Toolshedmusic’s accountant and Toolshedmusic’s bank account record an estimated turnover to be £63,539 for the period 01 January 2019 to 31 December 2019 and therefore Toolshedmusic was entitled to a maximum BBL of £15,885. By making the BBL application to borrow £40,000 Toolshedmusic received £24,115 more than it was entitled to. On 29 December 2020 Toolshedmusic received the BBL funds of £40,000 into its bank account. Toolshedmusic entered creditors voluntary liquidation on 19 October 2022. At liquidation a liability of £27,622 was the amount owed in respect of the BBL. 

This information is correct as at 29 / 1 / 2024

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