SDL HOME IMPROVEMENTS & MAINTENANCE LIMITED

Samuel Lee

March 1988

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

8 years Years 0 Month(s)

Disqualification starts from

5 December 2024

Improper conduct which resulted in their disqualification

On or around 18 May 2020, Samuel Lee (“Mr Lee”) caused SDL Home Improvements & Maintenance Limited (“SDL”) to apply for a Bounce Back Loan (“BBL”) of £50,000 using overstated turnover figures, which resulted in SDL obtaining a BBL that was £16,905 more than it was entitled to. • 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. • SDL was incorporated on 23 February 2016. • On or around 18 May 2020, Mr Lee applied for a BBL of £50,000 on behalf of SDL declaring that its turnover for the calendar year 2019 was £230,000. • Accounts dated 31 March 2019 show turnover of £132,377. • Accounts dated 31 March 2020 show turnover of £117,804. • SDL received the BBL funds of £50,000 on 18 May 2020. • Total liabilities at liquidation amount to £42,591 of which £39,680 relates to the amount owed in respect of the BBL.