Name: Ian Summerfield

Name: G.S CONSULTING (LONDON) LTD

Date of Birth: 19 / 6 / 1967

Date Order Starts: 15 / 2 / 2024

Disqualification Length: 7 Years 0 Month(s)

CRO Number: 12227762

Last Known Address: FLAT 1, CAMPDEN HOUSE COURT, 42 GLOUCESTER WALK, , LONDON, W8 4HU

Conduct: Mr Ian Summerfield (‘Mr Summerfield’) applied for and obtained a Government-backed Bounce Back Loan (‘BBL’) of £50,000 for G.S Consulting (London) Ltd (‘GSC’) and failed to ensure that the proceeds were utilised for the economic benefit of the business, as required under the terms of the BBL scheme, In that: • The terms of the BBL scheme required the proceeds of any loan obtained to be used solely for the economic benefit of the business and not for personal use; • On 11 May 2020, the £50,000 BBL was paid into GSC’s account. • Immediately before the receipt of the BBL there was a balance on the bank account of £35,073, • Between 11 May 2020 & 29 May 2020 GSC made payments amounting to £80,000, made up as follows: • £50,000 paid to a third party individual • £30,000 paid to a third party company in respect of a vehicle. • In the period between 11 and 29 May 2020 GSC received no trading income. • At least £42,166 of the BBL funds was used in making these payments, • Mr Summerfield has not provided any documentary evidence to support that the payments were for the economic benefit of GSC, • GSC entered Creditors’ Voluntary Liquidation on 24 January 2022 • At the liquidation, the full amount of the BBL remains outstanding. 

This information is correct as at 25 / 1 / 2024

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