Name: JOHN STEWART HUGHES

Name: CLAYTON STONE COMPANY LTD

Date of Birth: 15 / 3 / 1954

Date Order Starts: 23 / 1 / 2024

Disqualification Length: 10 Years 0 Month(s)

CRO Number: 09867731

Last Known Address: High Brake Hall Cottage, Stone Hey, Huncoat, , ACCRINGTON, BB5 6LZ

Conduct: 1. On or around 9 September 2020, Mr John Stewart Hughes (“Mr Hughes) caused the Clayton Stone Company Ltd (‘CSCL’) to apply for and obtain a £50,000 Government-backed Bounce Back Loan (‘BBL’) to which it was not fully entitled, by providing false or knowingly inaccurate information regarding the turnover of CSCL for 2019. In addition, Mr Hughes has failed to provide evidence that the loan was used in its entirety for the economic benefit of CSCL, contrary to the terms and conditions of the BBL Scheme, in that: CSCL was incorporated on 11 November 2015. Filed accounts for the year ended 30 November 2019 show total income of £80,232. Mr Hughes applied to CSCL’s bank for a BBL of £50,000 stating that CSCL’s turnover for 2019 was £200,000. CSCL was eligible for a BBL of no more than £20,058 based on the 2019 accounts, hence Mr Hughes obtained £29,942 more BBL funding than CSCL was entitled to. The BBL of £50,000 was received into CSCL’s bank account on 9 September 2020. Prior to receipt of the BBL, the bank account held a credit balance of just £76.57. No trading income was received between receipt of the BBL and cessation of trading. Between 10 September 2020 and 15 September 2020, three payments amounting to £11,000 were made to Mr Hughes. On 14 September 2020, £26,200 was paid to a third-party company for a motor vehicle. Cash withdrawals of £9,980 were made between 14 September 2020 and 16 July 2021. Mr Hughes has, to date, failed to provide CSCL’s accounting records to the Liquidator or any other evidence to prove that the transactions referred to above were for the economic benefit of the CSCL. The bank has submitted a claim for £50,207 in the liquidation proceedings. 

This information is correct as at 2 / 1 / 2024

Name: CLAYTON STONE COMPANY LTD

Date of Birth: 15 / 3 / 1954

Date Order Starts: 23 / 1 / 2024

Disqualification Length: 10 Years 0 Month(s)

CRO Number: 09867731

Last Known Address: High Brake Hall Cottage,, Stone Hey,, Huncoat,, , ACCRINGTON,, BB5 6LZ

Conduct: On or around 9 September 2020, Mr John Stewart Hughes (“Mr Hughes) caused the Clayton Stone Company Ltd (‘CSCL’) to apply for and obtain a £50,000 Government-backed Bounce Back Loan (‘BBL’) to which it was not fully entitled, by providing false or knowingly inaccurate information regarding the turnover of CSCL for 2019. In addition, Mr Hughes has failed to provide evidence that the loan was used in its entirety for the economic benefit of CSCL, contrary to the terms and conditions of the BBL Scheme, in that: CSCL was incorporated on 11 November 2015. Filed accounts for the year ended 30 November 2019 show total income of £80,232. Mr Hughes applied to CSCL’s bank for a BBL of £50,000 stating that CSCL’s turnover for 2019 was £200,000. CSCL was eligible for a BBL of no more than £20,058 based on the 2019 accounts, hence Mr Hughes obtained £29,942 more BBL funding than CSCL was entitled to. The BBL of £50,000 was received into CSCL’s bank account on 9 September 2020. Prior to receipt of the BBL, the bank account held a credit balance of just £76.57. No trading income was received between receipt of the BBL and cessation of trading. Between 10 September 2020 and 15 September 2020, three payments amounting to £11,000 were made to Mr Hughes. On 14 September 2020, £26,200 was paid to a third-party company for a motor vehicle. Cash withdrawals of £9,980 were made between 14 September 2020 and 16 July 2021. Mr Hughes has, to date, failed to provide CSCL’s accounting records to the Liquidator or any other evidence to prove that the transactions referred to above were for the economic benefit of the CSCL. The bank has submitted a claim for £50,207 in the liquidation proceedings. 

This information is correct as at 3 / 1 / 2024

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