Name: Mindaugas  Kaleininkas

Name: ELASTINA TRADING LTD

Date of Birth: 14 / 11 / 1989

Date Order Starts: 16 / 5 / 2025

Disqualification Length: 10 Years 0 Month(s)

CRO Number: 11486449

Last Known Address: 22 King George Avenue,, , , , LONDON, , E16 3HP

Conduct: On 11 May 2020 Mindaugas Kaleininkas (“Mr Kaleinkas”) caused Elastina Trading Limited (“Elastina”) to apply for a Bounce Back Loan (“BBL”) of £50,000 by providing inaccurate information on the application form with the result that Elastina received a BBL totalling £50,000, which it was not entitled to. Furthermore, Mr Kaleininkas failed to use the BBL funding for the economic benefit of Elastina contrary to the terms of the BBL scheme. In that: • Businesses could apply for a BBL 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 applicant. 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. • To be eligible the business had to be engaged in trading or commercial activity in the UK at the date of the application, had to be carrying on business on 1 March 2020 and had to have been adversely affected by coronavirus (COVID-19) • Elastina was incorporated on 27 July 2018 • Mr Kaleininkas was the sole appointed director throughout trading. • Accounts for the year ending 30 June 2019 record turnover of £79,502 and accounts for the six months ending 31 December 2019 show turnover of £3,292. • Bank statements show that between 05 December 2019 and 11 May 2020, there were no credits received into the bank account. Based on this, Elastina was not entitled to a BBL of any amount as it was not carrying on business at 01 March 2020. • On 11 May 2020, Mr Kaleininkas applied to Barclays Bank for a BBL in the sum of £50,000 stating that Elastina’s turnover was £200,000. • The BBL proceeds were received into the Barclays account on 12 May 2020. • Between 27 May 2020 and 11 January 2022, the sum of £4,371 was received as income. • Between 26 May 2020 and 13 December 2022, the sum of £7,226 was paid to parties unknown and between 22 May 2020 and 22 February 2022, the sum of £23,703 was paid to Mr Kaleininkas or used for his personal benefit. • The sum of £9,200 was paid towards the BBL. 

This information is correct as at 28 / 4 / 2025

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