C AND S DEVELOPMENTS {YORKSHIRE } LTD

Stuart James CLAYTON-EDWARDS

October 1978

Disqualified from being a director because of their conduct for the period of

5 Years 6 Month(s)

Disqualification starts from

22 October 2021

Improper conduct which resulted in their disqualification

Stuart James Clayton-Edwards (“Clayton-Edwards”) applied for a £35,000 Bounce Back Loan (BBL) on behalf of C & S Yorkshire Developments (Yorkshire) Limited (C&S) and the company received the funds on 29 June 2020. Between 17 July 2020 and 14 September 2020 he caused funds from the loan totalling £13,177 to be used contrary to the terms of the bounce back loan scheme by making payments for his own personal benefit to his personal account and for no economic benefit to the company in that :- • The company lost its primary revenue stream in late 2019 and was left without work, quotations were issued for new work in January 2020 but lockdown conditions meant works did not start. The company ceased trading on 31 July 2020. • C&S secured a BBL of £35,000 on 29 June 2020. • He paid the following sums to himself: 17 July - £600, 29 July - £500, 6 August - £5,000 and 19 August, £5,000 • In addition, after first approaching the Liquidator on 11 September and paying their fees on14 September a further £1,900 was paid to him. • He has stated that some of these funds were used to repay personal credit cards, which had been used for company expenditure. No records have been provided to support this explanation. • The company accountant converted the amounts paid to him into a Director’s Loan account which remains unpaid. • At liquidation Yorkshire’s liabilities total £105,886 including £35,000 in respect of the bounce back loan.