MR PETER MAXWELL STEWART

Disqualified from

2026-05-21

Date of birth on record

June 1980

On 18 May 2020, Peter Stewart Sanderson (“Mr Sanderson”) caused Whitesands Property Services Limited (“WPS”) to obtain a £41,000 Bounce Back Loan (“BBL”) by overstating WPS’ turnover, when he knew or ought to have known that WPS was not eligible for this amount. As a result, WPS received £41,000 more than it was entitled to. 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 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 01 January 2019, an estimated turnover could be used. • WPS was incorporated on 01 August 2014 and started trading before 01 January 2019 and was therefore not entitled to estimate WPS’ turnover for the purpose of the BBL application. • On 18 May 2020, Mr Sanderson made an application to obtain a £41,000 BBL on behalf of WPS, declaring that its turnover for the calendar year 2019 was £167,000. The funds were credited into WPS’ bank account the following day. • Unaudited Financial Statements prepared for accounting years ending 30 Aug 2019 and 30 Aug 2020 show WPS had Nil turnover. • Analysis of its bank account shows that between 01 January 2019 and 31 December 2019, WPS received sales income totalling £4,445.71. • Based on the income received in its bank account during calendar year 2019, WPS was not entitled to a BBL of any amount. • The overstatement of turnover meant that WPS received £41,000 more than it was entitled to from the BBL scheme. • WPS entered liquidation on 15 February 2024 with liabilities totalling £ 58,605.90 of which £39,055.52 relates to the amount owed in respect of the BBL.