MR KEITH MASON

Disqualified from

2025-04-14

Date of birth on record

November 1978

On 21 May 2020, Mr Keith Mason (“Mr Mason”) breached the terms of the Bounce Back Loan (“BBL”) scheme by causing or allowing AK Creation Limited (“AK”) to overstate its turnover on its application for a BBL, resulting in the company receiving a BBL of £50,000 when he knew, or ought to have known, that AK was not eligible 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. • AK was incorporated on 03 July 2015. • Mr Mason’s co-director declared on the company’s BBL application form an annual turnover of £200,000, and consequently, on 28 May 2020, AK received a £50,000 BBL. • A Profit and Loss report produced by the company accounting system shows that the company achieved a turnover of £106,920.27 in the period 01 January 2019 – 31 December 2019. • This would have meant the company would have been eligible to apply for a BBL of £26,731. • The overstatement of turnover totalling £93,079.73 meant that AK received £23,269 more than it was entitled to from the BBL scheme. • AK entered Creditor’s Voluntary Liquidation on 14 September 2022. • At liquidation, AK had liabilities totalling £55,433.41, of which £40,749.76 was owed to the bank in respect of the BBL.