Case details for Sameh FATHY MAHMOUD MASSOUD

Name: Sameh FATHY MAHMOUD MASSOUD

Name: Island Cafe Ltd

Date of Birth: 4 / 12 / 1983

Date Order Starts: 17 / 11 / 2023

Disqualification Length: 9 Years 0 Month(s)

CRO Number: 09730308

Last Known Address: Flat 2,, Buttermere,, Augustus Street,, , LONDON,, NW1 3TE

Conduct: On 9 June 2020, Sameh Fathy Mahmoud Massoud (“Mr Massoud”) caused Island Café Ltd (“ICL”) to make a Bounce Back Loan (“BBL”) application of £50,000 when he knew or ought to have known that ICL made a wrongful declaration by overstating its turnover. As a result, ICL received BBL funds of £17,379 that it was not 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 application. The turnover figure required was that for the calendar year 2019, or where a business was established after 1 January 2019 it is their estimated turnover. ICL was incorporated on 12 August 2015 On 9 June 2020 a former director of ICL applied for a BBL of £50,000 on behalf of ICL declaring that its turnover for the calendar year 2019 was £220,000. Bank statements show that £130,484 was credited to ICL’s bank account in the 2019 calendar year. Therefore, ICL was entitled to make application to borrow no more than £32,621. Accounts for ICL record turnover for the period ending 31 August 2019 as £107,413. By making application to borrow £50,000, the company borrowed at least £17,379 more than it was entitled to. On 10 June 2020 ICL received the BBL funds of £50,000 into its bank account. ICL ceased trading on 15 August 2021 and entered creditors voluntary liquidation on 13 September 2022. Total liabilities at liquidation amounted to £73,629, of which £50,000 related to the total amount owed in respect of the BBL. No assets were scheduled in the liquidation. 

This information is correct as at 30 / 10 / 2023



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