Name: IAN LAWRENCE MARTIN

Name: OT RECRUITMENT LIMITED

Date of Birth: 10 / 7 / 1976

Date Order Starts: 2 / 2 / 2024

Disqualification Length: 10 Years 0 Month(s)

CRO Number: 09335349

Last Known Address: 4 Elmbridge Drive,, , , , RUISLIP,, HA4 7XB

Conduct: Ian Lawrence Martin (“Mr Martin”) caused OT Recruitment Limited (“OTRL”) to breach the terms and conditions of the Bounce Back Loan Scheme (“BBL”) by overstating OTRL’s turnover and obtaining a larger loan of £40,000, when he knew or ought to have known that OTRL was only eligible for a loan to a maximum of £30,113 based on accounts filed for the calendar year 2019. The entire amount of BBL funds of £40,000 were paid to Mr Martin or to his personal benefit and did not provide economic benefit to OTRL, in breach of the BBL terms and conditions. Under the Bounce Back Loan (“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. To be eligible, businesses were required to be engaged in trading or commercial activity in the UK at the date of the application, carrying on business on 1 March 2020 and be adversely impacted by coronavirus; Filed accounts for the year ended 31 December 2019 show turnover of £120,452; The BBL criteria allowed a business to borrow up to 25% of the Company’s turnover. Based on filed accounts for the year ended 31 December 2019, OTRL was eligible to borrow a maximum of £30,113; Mr Martin applied for a BBL of £40,000 on behalf of OTRL on 08 June 2020 declaring in the BBL application that OTRL’s turnover for 2019 was £160,000; On 09 June 2020 a BBL of £40,000 was credited to OTRL ’s bank account; Between 11 June 2020 and 18 June 2020 the entire amount of the BBL funds of £40,000 were transferred to Mr Martin in round sum amounts. The payments are shown on OTRL’s bank statements as dividends and were not for the economic benefit of OTRL in breach of the BBL terms and conditions; Total liabilities at liquidation amount to £128,905 which includes debts of £40,000 in respect of the BBL and £88,905 to HM Revenue & Customs. 

This information is correct as at 15 / 1 / 2024

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