Name: Terry Drummond

Name: RESI INVENTORIES LIMITED

Date of Birth: 24 / 5 / 1965

Date Order Starts: 3 / 4 / 2026

Disqualification Length: 10 Years 0 Month(s)

CRO Number: 08502007

Last Known Address: 2 Church Cottages,, Weybridge Road,, , , ADDLESTONE,, KT15 2QX

Conduct: On 04 June 2020 Terry Drummond (“Mr Drummond”) caused Resi Inventories Limited (“Resi”) to overstate the turnover of the company to enable it to obtain a Bounce Back Loan (“BBL”) of £50,000 when he knew, or ought to have known, that the company was not eligible to apply for that amount, in that: • Under the BBL scheme, businesses could apply for a BBL of up to 25% of their 2019 turnover, from a minimum of £2,000 to a maximum of £50,000. Businesses incorporated after 01 January 2019 were asked to estimate their turnover from the date the business started. • Resi was incorporated on 24 April 2013, therefore actual 2019 turnover was to be used. • On 04 June 2020 Mr Drummond applied for a £50,000 BBL on behalf of Resi, declaring its turnover as £200,000. • An analysis of statements for Resi’s bank account for the period from 01 January 2019 to 31 December 2019, shows the company received trading income of £70,421. • Therefore, Resi was not eligible to apply for the maximum BBL amount of £50,000. • On 08 June 2020, Resi received the £50,000 BBL funds into the company bank account. • Resi entered Compulsory Liquidation on 13 July 2024 with liabilities of £284,225, of which £50,454 is the outstanding BBL. 

This information is correct as at 16 / 3 / 2026

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