Name: FERNANDO PAULO

Name: F&P Courier Ltd

Date of Birth: 4 / 10 / 1984

Date Order Starts: 14 / 12 / 2022

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 11649551

Last Known Address: Flat 9, Jennings House, 1c Shorts Road, , , CARSHALTON, SM5 2PB

Conduct: Fernando Joao Paulo (“MR PAULO”) caused F&P COURIER LIMITED (“F&P”) to apply for a Bounce Back Loan (“BBL”) totalling £50,000 that MR PAULO knew or ought to have known that F&P was not eligible for. The BBL funds obtained were not entirely used for the economic benefit of the company. MR PAULO was a director of F&P. MR PAULO applied for a BBL of £50,000 on behalf of F&P that was received into F&P’s bank account on 13 July 2020. The loan terms allowed F&P to apply for a loan up to 25% of the annual turnover of the company, up to a maximum loan amount of £50,000. Accounts produced for F&P for the year ended 31 October 2020 showed turnover of £88,164 and accounts for the period ended 31 October 2019 showed turnover of £21,437. This was not sufficient turnover to make F&P eligible for a BBL of £50,000. The bank account that the BBL was credited to had not been used until the BBL monies were received. The balance of the account on 13 July 2020 after the BBL was credited to the account was £50,000. After 13 July 2020 the next £50,000 of expenditure included £32,656 paid to MR PAULO including £5,000 on 13 July 2020 and £15,000 on 18 July 2020. The BBL funds obtained were not entirely used for the economic benefit of the company. At the date of liquidation the BBL remained unpaid. 

This information is correct as at 24 / 11 / 2022

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