Name: WADOOD ANWAR

Name: IBRITE LTD

Date of Birth: 18 / 10 / 1981

Date Order Starts: 3 / 1 / 2023

Disqualification Length: 10 Years 0 Month(s)

CRO Number: 09419547

Last Known Address: 47 Avenue Court, Broadway, , , ILFORD, IG5 0LJ

Conduct: Mr Wadood Anwar (“Mr Anwar”) caused Ibrite Ltd (“Ibrite”) to apply for a Government backed Bounce Back Loan ("BBL") on 02 September 2020 totalling £50,000 for which it was not eligible for, by including false information relating to its turnover. Consequently, Ibrite received £45,062 more than it was entitled to from the BBL scheme. In that: Mr Anwar applied for, and Ibrite received on 02 September 2020, a BBL of £50,000; The BBL criteria allowed a business to borrow between £2,000 and up to 25% of the company turnover (up to a maximum of a £50,000 loan). For a company to be eligible for a BBL of £50,000, an annual turnover of £200,000 was required, the turnover figure concerned being that for the calendar year 2019; In the BBL application, Mr Anwar stated that Ibrite had a turnover of £255,000. However Ibrite’s financial statements show turnovers of £19,749 and £67,487, respectively, for the years ended 28 February 2019 and 28 February 2020; Based on Ibrite’s turnover for the year ended 28 February 2019, the largest BBL the company was entitled to receive was a loan of £4,938; Ibrite entered liquidation on 19 October 2021 with outstanding liabilities of £53,878, including the bank for the full amount of the BBL. 

This information is correct as at 13 / 12 / 2022

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