Case details for STEFAN SEEGAR

Name: STEFAN SEEGAR

Name: SOUTH WEST SIGNALLING LIMITED

Date of Birth: 26 / 11 / 1974

Date Order Starts: 9 / 1 / 2024

Disqualification Length: 10 Years 0 Month(s)

CRO Number: 12131814

Last Known Address: 35 The Ham,, , , , WESTBURY,, BA13 4HD

Conduct: Mr Stefan Seeger (“Mr Seeger”) caused South West Signalling Limited (“SWS”) to breach the terms and conditions of the Bounce Back Loan (“BBL”) scheme by overestimating its turnover on the BBL application, as a result SWS received more funds than it was entitled to from 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 where a business was established after 01 January 2019, was its estimated turnover. • Businesses established after 01 January 2019 should have applied the 25% limit to its estimated annual turnover from the date the business was started.  • SWS was incorporated on 31 July 2019. SWS’ accountant stated that it commenced to trade on 13 September 2019. • SWS filed accounts for the period ending 31 July 2020 which showed turnover of £27,313. The accounts were approved by Mr Seeger on 15 September 2020. • On 29 October 2020, Mr Seeger applied for a BBL of £50,000 on behalf of SWS declaring that its estimated turnover was £221,000. • SWS received the BBL funds of £50,000 on 03 November 2020. • Based on the turnover figure of £27,313 for the period from 13 September 2019 to 31 July 2020, a reasonable estimate of annual turnover would be £31,045.21. SWS would therefore have been entitled to apply for a BBL of £7,761.30. Therefore, SWS has received BBL funds of £42,238.70 that it was not entitled to. • Mr Seeger has not provided any evidence to show how the estimated turnover was determined. • On 13 March 2023, SWS entered Creditor’s Voluntary Liquidation with total liabilities of £51,717.99, of which £50,949.23 was owed in respect of the BBL. 

This information is correct as at 20 / 12 / 2024



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