Case details for Gurpreet Singh Parihar

Name: Gurpreet Singh Parihar

Name: Remo Building Services Ltd

Date of Birth: 23 / 9 / 1986

Date Order Starts: 1 / 1 / 2025

Disqualification Length: 11 years Years 0 Month(s)

CRO Number: 09369429

Last Known Address: 1 Lane Road,, , , , WOLVERHAMPTON,, WV4 6NG

Conduct: 1. Mr Gurpreet Singh Parihar ("Mr Parihar") caused Remo Building Services Ltd ("Remo") to make an application for a Government backed Bounce Back Loan ("BBL") in the sum of £50,000 with the Company's Bank which was signed by Mr Parihar on 20 May 2020. The £50,000 BBL was received by Remo on 22 May 2020. Remo did not have the necessary turnover to qualify for a BBL of £50,000. In the absence of adequate books and records, it is not possible to determine if the BBL was expended in its entirety for the economic benefit of Remo. In that: • Remo was incorporated on 30 December 2014. Remo is stated in the Report to Creditors that it "provided building construction and small repairs services for residential customers". Remo has filed accounts at Companies House for the periods ending 31 December 2015 to 2020. • The BBL Scheme allowed businesses to borrow between £2,000 up to 25% of a business' turnover with the maximum loan available being £50,000. To qualify for a £50,000 BBL, the BBL application would have stated that Remo's turnover was £200,000 or more. Remo was not permitted to estimate its turnover as it was established before 1 January 2019. • The BBL application, which was signed by Mr Parihar on 20 May 2020, stated Remo's turnover was £245,000. • Remo's accounts for the period ending 31 December 2019 record turnover was £43,168. Remo's accounts for the period ending 31 December 2020 recorded turnover was £790. • The total receipts into the Bank account in the 2019 calendar year were £36,084.19. • Total payments out in respect of business expenditure after receipt of the BBL on 22 May 2020 to liquidation were in excess of £98,000. Trading income received was nil. • It is not known whether the payments made from the company account were for the economic benefit of Remo.. • A total of £4,666.86 (9 payments of £518.54) were made towards the BBL. The Bank have filed a proof of debt in the liquidation in the sum of £46,284.75. 2. Mr Parihar has failed to ensure that Remo accounted for income from trade. In that: • Mr Parihar did not deliver up any books and records to the Liquidator. Remo's Accountants state they have delivered up all records which were in their possession to the Liquidator (which the Liquidator describes as "minimal"). • Mr Parihar has stated that invoices were lost when his car was stolen on the night of 27/28 April 2022 (which was after the date of liquidation). However, the theft of the car was not previously mentioned to the Liquidator until 21 March 2023 or to the Secretary of State until 18 May 2023. • According to Remo's accounts for the periods ending 31 December 2019 and 2020, Remo's turnover was £43,168 and £790 respectively. The £50,000 BBL was received on 22 May 2020. Between 6 May 2020 and 29 September 2021, Remo received Job Retention Scheme ("JRS") payments which totalled £39,631.58 and made payments of wages of a total of £54,573.26. • Only £790 apparent trading income was paid into Remo's bank account in 2020 (which accords with the turnover in the 31 December 2020 accounts). Remo's bank account does not show any income receipts from trade in 2021 and 2022. • During 2020, 2021 and 2022, there were payments out of Remo's bank account to building suppliers and to other business expenses. On an annual basis, the total of the payments to building suppliers and other business expenses were £26,523.81 in 2020, £17,359.76 in 2021 and £310.00 in 2022 (total £44,193.57). The majority of these payments were to building suppliers. The last payment to a building supplier was on 15 July 2021. The last payment of which included the reference "Wage" was made on 01 December 2021. On balance, it is likely that that the last payment of wages was on 01 March 2022. • In the absence of a substantive response from Mr Parihar, it is inferred that the building supplies which were purchased during the period from 2020 up until liquidation were used to provide "building construction" or "small repairs for residential customers". However, save for the £790 trading income which was paid into Remo's bank account in 2020, the Bank account does not record any receipts from any work undertaken. Mr Parihar has not provided details of any other bank account held by Remo or details of where any income was paid. 

This information is correct as at 11 / 12 / 2024



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