Name: Craig Rowell

Name: AKAT LOGISTICS LTD

Date of Birth: 13 / 1 / 1985

Date Order Starts: 9 / 12 / 2024

Disqualification Length: 11 years Years 0 Month(s)

CRO Number: 10500940

Last Known Address: 6 Wasdale Close,, , , , , CA28 9SZ

Conduct: On or around 15 July 2020, Mr Craig Richard Rowell (“Mr Rowell”) provided false or knowingly inaccurate information relating to Akat Logistics Ltd’s (“Akat”) application for a Government-backed Bounce back Loan (“BBL”) resulting in Akat receiving an additional £40,868 to which it was not entitled. Furthermore, not all the BBL funds were used for the sole economic benefit of Akat. In that: • A company was eligible for a BBL of 25% of its actual turnover in the calendar year 2019 or, if it commenced trading after 01 January 2019, 25% of its estimated annual turnover from the date the business was started. Any BBL provided was to be used wholly for the economic benefit of the applicant company; • Akat was incorporated on 29 November 2016 and commenced trading in the haulage trade on 12 December 2016. Accordingly Akat was eligible for a BBL of its actual turnover in the calendar year 2019; • On 06 June 2020, Mr Rowell approved Akat’s accounts for the year ended 30 November 2019 which showed turnover of £32,529 and net profit, after tax of £10,700. During that period and until January 2020, Akat had been used as a vehicle through which Mr Rowell worked, for one customer as a lorry driver; • From February 2020, Akat’s trading activities changed to that of light haulage and its accounts for the year ended 30 November 2020 showed turnover of £53,486 and a net profit after tax of £12,456; • On or around 15 July 2020, Mr Rowell made an application on behalf of Akat to its bank for a BBL of £49,000 declaring Akat’s turnover to be £325,299; • Akat received the BBL of £49,000 into its bank account on 16 July 2020 which was £40,868 more than it was entitled to based on actual turnover for the year ended 30 November 2019; Use of BBL Funds • £49,000 of BBL funding was credited to Akat’s bank account on 16 July 2020 taking the credit balance to £54,761.62; • On 20 July 2020, £48,000 was transferred to Mr Rowell; • According to Mr Rowell, the monies transferred to him were used to purchase a freehold property for £47,000 cash in the joint names of him and a third party; • £13,200 was repaid into Akat’s bank account on 21 January 2022 following the mortgage of the property on the same day • At liquidation Mr Rowell owed Akat £64,020.04, • Between 16 August 2021 and 16 December 2021, Akat made 5 repayments totalling £2,772.55 in respect of the BBL • Akat entered creditors voluntary liquidation on 04 November 2022. At liquidation £47,115.03 was owed to its bank in respect of the BBL and £32,094.52 was owed to other creditors. 

This information is correct as at 19 / 11 / 2024

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