MR IAN ROBERT JONES

Disqualified from

2025-12-16

Date of birth on record

March 1965

In May 2020, Ian Fisher-Jones (“Mr Fisher-Jones ”) caused L31 Ltd to apply for and receive a £27,500 Bounce Back Loan (“BBL”) which he knew or ought to have known was a larger amount than the company was eligible for, and in July 2020 he caused L31 to breach the terms and conditions of the BBL facility by applying for and receiving a BBL of £40,000 when he knew or ought to have known that L31 was not entitled to that loan as the company had already received a BBL from another financial institution. In that: • 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 its turnover for the calendar year 2019. The turnover figure was self-certified by the applicant. The BBL scheme eligibility criteria allowed for businesses to only receive one BBL with the applicant declaring that the company was not in the process of applying for or had already received a Bounce Back Loan. • L31 Ltd operated two bank accounts, one with Bank A and one with Bank B. • On 05 May 2020, L31 Ltd received a £27,500 BBL from Bank A. • On 14 July 2020, L31 Ltd received a £40,000 BBL from Bank B. • Mr Fisher-Jones breached the terms of the BBL scheme by obtaining the second BBL. • When applying for the loans, Mr Fisher-Jones stated that the company’s annual turnover for 2019 was £110,000 to Bank A and £160,000 to Bank B. • Accounts show that the company turnover for the period ended 31 August 2019 was £76,104, and for the period ended 31 August 2020, £38,990. • L31 Ltd, was therefore not eligible to receive the loan from Bank A in the amount that it did, and not eligible for the second loan at all. • At liquidation on the 12 October 2022, there was £27,263 outstanding to Bank A and £40,501 outstanding to Bank B in respect of the BBLs.