Case details for Marcio Barreto

Name: Marcio Barreto

Name: AUTOMOBILE SOLUTIONS LIMITED

Date of Birth: 23 / 10 / 1979

Date Order Starts: 2 / 1 / 2025

Disqualification Length: 8 years Years 0 Month(s)

CRO Number: 11195348

Last Known Address: 55 The Lawns, Lee Terrace, , , LONDON, SE3 9TD

Conduct: On or around 04 May 2020 Mr Marcia Barreto ("Mr Barreto") caused Automobile Solutions Limited ("Automobile") to apply for the Government backed Bounce Back Loan Scheme ("BBL") after Automobile had ceased to trade and without the intention to repay the BBL, in contravention of the BBL agreement, with the result that Automobile obtained a BBL in the sum of £20,000 to which it was not entitled. Mr Barreto also provided false or inaccurate information to Automobile's bankers about Automobile's turnover when applying for the BBL, and Mr Barreto used £6,000 of the loan monies obtained under the scheme for his personal benefit and not for the economic benefit of Automobile, in contravention of the BBL scheme. In that: • Under the 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 was self-certified by the applicant. 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. Businesses were required to have been trading at 1 March 2020 and at the date of the BBL application in order to be eligible to access the BBL scheme. Businesses were required to use the loan only to provide economic benefit to the business, and not for personal purposes and confirm they have understood the costs associated with repayment of the loan and that they are able and intend to complete timely repayments in future. • Automobile was incorporated on 08 February 2018 and commenced trading on or shortly after incorporation. • Automobile ceased trading on or around February 2020 according to information Mr Barreto supplied to The Insolvency Service. • Mr Baretto signed a notice DS01 Voluntary Striking off Application on 27 March 2020. • On or around 04 May 2020 Automobile applied to its bankers for a BBL of £20,000. Mr Baretto declared on the BBL application that Automobile's turnover for the 2019 calendar year was £80,000. • Between 01 January 2019 and 31 December 2019, income into Automobile's bank account totalled £43,910. Automobile's turnover was stated as £24,215 according to accounts filed at Companies House for year ended 29 February 2020. • On 05 May 2020 Automobile received £20,000 in respect of the BBL. • On 06 May 2020, a payment of £6,000 was made to Mr Baretto which does not appear to have been made for the economic benefit of Automobile. • The Voluntary Striking off Application dated 27 March 2020 was received at Companies House on 26 May 2020. • Automobile was subsequently dissolved on 06 October 2020 owing £20,000 to its bankers in respect of the BBL. 

This information is correct as at 17 / 12 / 2024



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