Name: Sami  Mahfouz

Name: GLUT LTD

Date of Birth: 4 / 7 / 1994

Date Order Starts: 1 / 10 / 2025

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 11529553

Last Known Address: Sun Trap,, Church Hill,, Forest Hill, ,, , OXFORD, OX33 1EG

Conduct: On 04 June 2020 Sami Mahfouz (‘Mr Mahfouz’) caused Glut Ltd (‘Glut’) to obtain a second Government-backed Bounce Back Loan (‘BBL’) when he knew or ought to have known that Glut was not entitled to under the terms and conditions of the BBL Scheme as only one BBL was permissible per business. In that: • The BBL scheme permitted one loan of up to 25% of a business’ turnover in the calendar year 2019 up to a maximum of £50,000; • Accounts for the period ended 30 December 2019 recorded turnover of £323,407, which was sufficient for Glut to be eligible for a single BBL of £50,000; • On 04 May 2020 Glut obtained a BBL of £50,000 from its bank, Bank A, which was paid into Glut’s account with Bank A on 05 May 2020; • On 04 June 2020 Mr Mahfouz applied to another bank, Bank B, for a second BBL, of £50,000; Mr Mahfouz declared on the application form that; “I/We confirm that this is my/our only application for a Bounce Back Loan for this business and I am/we are not part of a wider group which is in the process of applying for or has already received a Bounce Back Loan”. • On 25 June 2020 the second BBL was paid into Glut’s account with Bank B; • In applying for a second BBL Glut obtained £50,000 in Covid-support funding that it was not entitled to; • At the liquidation date Bank A was owed £51,355 and £51,267 was outstanding to Bank B; the banks were the majority creditors in the liquidation. 

This information is correct as at 11 / 9 / 2025

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