Case details for HAMID REZA ABDULLAH AFSHAR

Name: HAMID REZA ABDULLAH AFSHAR

Name: H & A PRO-SERV LTD

Date of Birth: 31 / 5 / 1989

Date Order Starts: 6 / 12 / 2023

Disqualification Length: 9 Years 0 Month(s)

CRO Number: 11254354

Last Known Address: 7 Pine Walk, , , , BIRMINGHAM, B31 2JL

Conduct: On or around 18 June 2020 Mr Hamid Reza Abdullah Afshar (Mr Afshar) caused or allowed H&A Pro-Serv Limited (H&A) to overstate its turnover when applying to its bank for a Government-backed bounce back loan (BBL) in the sum of 50,000, thereby obtaining at least 17,795 to which it was not entitled. Mr Afshar further failed to use the entirety of the BBL proceeds for H&As economic benefit contrary to the terms of the BBL scheme. In that: The terms of the BBL scheme were such that an applicant company could obtain a loan of up to 25% of its turnover for the 2019 calendar year, to a maximum value of 50,000. Any BBL provided was to be used wholly for the benefit of the applicant company and not for any personal use. Professionally prepared accounts for the years ending 31 March 2019 and 2020 show H&As turnover to have been 108,650 and 110,200 respectively. Sales credits received into its bank account in the calendar year 2019 came to a total of 128,820. The maximum BBL to which H&A was entitled was therefore 32,205. On or around 18 June 2020 a BBL application was submitted to H&As bank for a BBL of 50,000, stating that H&As turnover for 2019 had been 201,024. On 22 June 2020 a BBL of 50,000 was received into H&As business current account. Prior to the receipt of the BBL the balance on H & As bank account stood at 46,145 In the period from receipt of the BBL to the closure of H&As bank account payments amounting to x were made. These payments included: 106,695.76 paid to Mr Afshar 16,212.59 paid to third parties. No evidence has been provided to show that the listed payments were applied to the economic benefit of H&A. In the period when the listed payments were made, additional income of 57,926.23 was received which mean that 18,836 of the payments listed above was funded solely from the BBL proceeds. No BBL repayments were made before H&As liquidation in which the BBL lender has filed a proof of debt claiming the full 50,000 BBL. 

This information is correct as at 15 / 11 / 2023



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