GLENN GARDNER

Disqualified from

2024-10-02

Date of birth on record

November 1959

On 30 July 2020 Mr Glenn Gardner (“Mr Gardner”) breached the terms of the Bounce Back Loan (“BBL”) scheme by causing Hydrate Ltd (“Hydrate”) to overstate its turnover on its application for a BBL, resulting in the company receiving a BBL of £35,000 when he knew, or ought to have known, that Hydrate was not entitled for a loan of that value, in that: The BBL scheme terms allowed businesses to receive a loan of up to 25% of their annual turnover for the 2019 calendar year, which the applicant would self-certify when completing the BBL application. If a company was established after 01 January 2019, they were allowed to estimate the company turnover from the date the company started to trade. Hydrate was incorporated on 26 October 2018. Mr Gardner declared on the company’s BBL application form a turnover of £140,000, and consequently, on 31 July 2020, Hydrate received a £35,000 BBL. Annual accounts for the year ending 31 October 2019 show a turnover of £21,682. Bank statements for the period 01 November 2019 to 31 December 2019 show total receipts of £3,334.11 attributable to business income. This would have meant the company would have been entitled to apply for a BBL of £6,255 The overstatement of turnover totalling £114,983 meant that Hydrate received £28,745 more than it was entitled to from the BBL scheme. Hydrate entered Creditor’s Voluntary Liquidation on 25 October 2022. Hydrate made BBL repayments of £5,205.59 At liquidation, Hydrate had liabilities totalling £51,917, of which £30,118.69 was owed to the bank in respect of the BBL.