REACT GLOBAL LTD

Jess David THOMPSON-HUGHES

March 1966

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

10 Years 0 Month(s)

Disqualification starts from

16 March 2023

Improper conduct which resulted in their disqualification

On 25 August 2020, Jess David Thompson-Hughes (“Mr Thompson-Hughes”) caused react Global Ltd (“React”) to provide misleading information to a bank, to obtain a Bounce Back Loan (“BBL”) of £50,000 when he knew or ought to have known that “React” was not eligible for a loan of that amount. In that: • He was the sole director of “React” from incorporation on 6 March 2012. • “React” traded from 2012 until liquidation. • Bank statements confirm receipt of a BBL of £50,000 on 26 August 2020. • Accounts for the year ending 31 March 2019 show turnover as £76,510, and for year ending 31 March 2020 turnover was £82,300. • BBLs were limited to 25% of 2019 ‘calendar year’ turnover. Using 3/12ths of 2019 turnover and 9/12ths of 2020 turnover this would suggest a turnover for the 2019 calendar year of £80,852. Using this extended period, React would have been eligible for a BBL of no more than £20,713. • In the BBL application dated 25 August 2020, he was asked ‘what is your annual turnover….’. He declared a turnover of £210,000, when he knew, or ought to have known, that this was incorrect. • The application also asked ‘please confirm this is equal to or is less than 25% of annual turnover for 2019…’ he confirmed ‘Yes’ • By providing the misleading information, “React” obtained a BBL of £50,000, at least £29,287 in excess of the BBL amount that it was eligible for. • Creditors at liquidation total £56,002 including the BBL of £50,000.