Name: KRISTIYAN BOGDANOV

Name: MOVE AHEAD LTD

Date of Birth: 14 / 2 / 1991

Date Order Starts: 6 / 12 / 2022

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 11420762

Last Known Address: 73a Norman Road, , , , , SM1 2TB

Conduct: Kristiyan Bogdanov (“Mr Bogdanov”) caused Move Ahead Ltd (“Move Ahead”) to act in breach of the terms of the government-backed “bounce back loan” (“BBL”) scheme by overstating its turnover in order to obtain the maximum loan of £50,000, which was £42,730 more than it was entitled to. In addition, funds of at least £20,000 from the BBL were not used for the economic benefit of the company, in that: The conditions of the BBL scheme provided that the business was eligible for a loan to a maximum of £50,000 which is up to 25% of the company’s turnover in the calendar year 2019. Therefore, the company’s turnover should have been at least £200,000 in the year 2019 to be entitled to a £50,000 BBL. Mr Bogdanov’s BBL application for Move Ahead was signed and dated on 16 July 2020. On the BBL application, Move Ahead’s turnover was stated to be £200,000 and a loan of £50,000 was requested. Mr Bogdanov ticked the box to confirm that this was equal or less than 25% of annual turnover for 2019. On 17 July 2020, BBL funds of £50,000 was received into Move Ahead’s account. Bank statements show that from 01 January 2019 to 31 December 2019, Move Ahead’s turnover totalled £29,079. The maximum loan eligibility at 25% would only have been £7,270. The £50,000 BBL obtained by Move Ahead was £42,730 more than it was entitled to. Between 30 July 2020 and 05 October 2020, payments from the BBL funds totalling at least £20,000 were made to Mr Bogdanov. No evidence has been provided to show that these payments were used for the economic benefit of the company. By the date of liquidation, the creditors totalled £52,551 of which £50,000 was owed to the bank under the BBL 

This information is correct as at 15 / 11 / 2022

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