Overstated turnover

Duo disqualified over BBL

Firm went into liquidation in 2022

Two directors of a graphic design, marketing and print business have been barred for abusing the Bounce Back Loan scheme.

Andrew Drury and Keith Mason were the directors and co-owners of Kent-based AK Creation Ltd. The company offered a range of service including graphic design for web and print, social media marketing and SEO.

The Insolvency Service report into the duo’s conduct found that on 21 May 2020, Drury breached the terms of the BBL scheme by overstating AK Creation’s turnover on his application for a £50,000 loan.

He said that the firm’s turnover was £200,000 when a subsequent profit and loss report showed turnover of £106,920 in the period from 1 January 2019 to 31 December 2019.

“The overstatement of turnover totalling £93,079.73 meant that AK received £23,269 more than it was entitled to from the BBL scheme,” the Insolvency Service stated.

AK Creation went into creditor’s voluntary liquidation on 14 September 2022. At liquidation, the firm had liabilities totalling £55,433.41, of which £40,749.76 was owed to HSBC bank in respect of the BBL.

Drury has been disqualified from acting as a director for 10 years, effective today (14 April).

His month of birth is September 1979 and last known address was in Meopham, Kent.

Mason has been banned for nine years, also effective from 14 April.

His month of birth is November 1978, and last known address was in Billericay, Essex.

Note: AK Creations based in Harwich is not connected to AK Creation Ltd.