Name: Shahid Ahmed

Name: ELM RESOURCES LTD

Date of Birth: 4 / 4 / 1974

Date Order Starts: 22 / 12 / 2025

Disqualification Length: 10 Years 0 Month(s)

CRO Number: 09870821

Last Known Address: Norton House Farm, Woodbury Lane, Norton, , WORCESTER, WR5 2PT

Conduct: On 05 May 2020, Shahid Ahmed (“Mr Ahmed”) caused Elm Resources Ltd (“Elm”) to apply for a government backed Bounce Back Loan (“BBL”) of £50,000 when it was not eligible for a loan of that amount, by providing information to the lender which he knew or ought to have known was inaccurate, in that: • A business could apply for a loan between £2,000 and £50,000 subject to a maximum of 25% of turnover. When a company was established before 01 January 2019, the turnover figure required was that for the 2019 calendar year. Elm was incorporated on 13 November 2015. • A letter from the BBL provider to the liquidator, dated 13 October 2023, stated that the BBL application was signed by “Mr Shahid Ahmed”, and the annual turnover stated was £203,000. • In the BBL facility letter dated 05 May 2020 and addressed to Mr Ahmed, the requested loan amount is stated as £50,000. • Elm received £50,000 into its bank account on 06 May 2020. • Analysis of Elm’s bank statements for the calendar year 2019 shows receipts of £68,261. Based on this figure, Elm would have been eligible for a BBL of £17,065 and therefore received £32,935 more than the company was entitled to. Further to this, the filed accounts for year ended 31 March 2020 show turnover of £65,466. • At liquidation on 10 October 2023, £48,414.45 of the BBL remained outstanding. 

This information is correct as at 2 / 12 / 2025

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