Name: Shahnaz Shirazi

Name: JOLI SALON LIMITED

Date of Birth: 1 / 11 / 1970

Date Order Starts: 9 / 6 / 2025

Disqualification Length: 8 Years 0 Month(s)

CRO Number: 11866860

Last Known Address: 27 Swan Lane,, , , , LONDON,, N20 0PR

Conduct: On or before 29 May 2020 Ms Shahnaz Pashni Shirazi (“Ms Shirazi”) caused Joli Salon Limited (“JS”) to breach the terms and conditions of the government-backed Bounce Back Loan (“BBL”) scheme by overestimating its turnover on the BBL application, resulting in JS receiving more funds that it was entitled to from the BBL scheme, in that: • Under the BBL scheme businesses could apply for a loan 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 application. The turnover figure required was that for the calendar year 2019, or where a business was established after 01 January 2019 it is their estimated annual turnover from the date that the business was started. • JS was incorporated on 07 March 2019 and was therefore entitled to declare its estimated turnover from the date the business started on the BBL application. • On or before 29 May 2020, Ms Shirazi applied for a BBL on behalf of JS for the maximum amount allowable of £50,000 declaring the estimated turnover to be £250,000. • JS’ Financial Statements for the year ended 31 March 2020 show a turnover of £90,173. • Analysis of JS’ bank statements show that JS had been trading for a year prior to the BBL being applied for. The most income received by JS was in July 2019. From September 2019 to February 2020, the maximum income in to the bank account was £8,500 per month. Based on this monthly income, the company had an estimated annual income of £102,000 and would have been entitled to a maximum BBL of £25,500. • By making an application to borrow £50,000 JS received a BBL of £24,500 more than it was entitled to. • On 29 May 2020 JS received the BBL funds of £50,000 into its bank account. • Between 29 June 2021 and 30 December 2022, the total sum of £17,168.74 in BBL repayments were made to JS’ bank. • JS entered into Creditors Voluntary Liquidation with liabilities totalling £52,940 of which £33,621.48 related to the BBL. 

This information is correct as at 20 / 5 / 2025

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