Case details for Yousif Ibrahim

Name: Yousif Ibrahim


Date of Birth: 29 / 5 / 1979

Date Order Starts: 21 / 11 / 2023

Disqualification Length: 10 Years 0 Month(s)

CRO Number: 08908214

Last Known Address: FLAT 1, 8 PEMBROKE CRESCENT, , , HOVE, BN3 5DH

Conduct: Mr Yousif Ibrahim (“Mr Ibrahim”) breached the terms of the Bounce Back Loan (“BBL”) Scheme by causing Holiday Time Ltd (“HTL”) 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 HTL was only eligible for a loan to a maximum value of £22,331 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.?? • HTL was incorporated on 24 February 2014.? • Mr Ibrahim declared the company turnover as £265,000 within the BBL application. • On 11 June 2020 HTL received a £50,000 BBL, the maximum loan amount possible under the BBL scheme. ?? • Annual accounts for financial year ending 28 February 2019 show the company declared a turnover of £42,472. • Annual accounts for financial year ending 28 February 2020 show the company declared a turnover of £46,850. • Based on the annual accounts for both years, the maximum turnover of the company for 2019 would have been £89,322. Meaning that HTL was eligible to apply for a BBL of £22,331. • The overstatement of turnover totalling £175,678 meant that HTL received £27,669 more than it was entitled to from the BBL scheme. • At liquidation, HTL had liabilities totalling £52,248.70 of which £48,532.21 was owed to the bank in respect of the BBL. 

This information is correct as at 2 / 11 / 2023

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