Name: Chase Marco MCGUINNESS

Name: SOCIALIS LIMITED

Date of Birth: 17 / 10 / 1986

Date Order Starts: 4 / 11 / 2026

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 11935553

Last Known Address: 44 Rosebury Road, , , , LONDON, SW6 2NG

Conduct: On 04 September 2020, Chase Marco McGuinness (“Mr McGuinness”) caused Socialis Ltd (“Socialis”) to breach the terms and conditions of the Bounce Back Loan (“BBL”) scheme by obtaining a BBL of £50,000 which he knew or ought to have known that Socialis was not entitled to and failed to use the entirety of the BBL for the economic benefit of Socialis. In that: • Under the BBL scheme, businesses could apply for one 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 applicant. The turnover figure required was that for the calendar year 2019, or where a business was established after 01 January 2019, an estimated annual turnover could be used from the date the business started. • The applicant also had to declare that the business was carrying on its business on 01 March 2020, that it was engaged in trading or commercial activity in the UK as at the date of the application, and that the business had been adversely impacted by COVID-19. The loan was to be used to provide economic benefit to the business and not for personal purposes. • Socialis was incorporated on 09 April 2019 and filed accounts for a dormant company for accounting year ending 30 April 2020. • On 04 September 2020, Mr McGuinness submitted an application and signed an agreement to obtain a £50,000 BBL on behalf of Socialis, declaring that its estimated annual turnover from the date the business started was £400,000. On 07 September 2020, BBL funds of £50,000 were credited into Socialis’ bank account, being the first recorded transaction in the bank account. • Mr McGuinness has failed to provide documentary evidence to show how he estimated Socialis turnover to be £400,000 as declared in the BBL Application. • There is no evidence that Socialis was eligible for a BBL as it was not carrying on its business on 01 March 2020, engaged in trading or commercial activity in the UK as at the date of the application or been adversely impacted by COVID-19. • Between 29 October 2020 and 11 November 2020, four payments totalling £41,470 were made to connected third parties using funds obtained via the BBL scheme. Mr McGuinness has failed to provide documentary evidence to show how the payments totalling £41,470 were used to provide economic benefit to Socialis and were not used for personal purposes. • On 05 September 2024, Socialis entered Creditors’ Voluntary Liquidation with liabilities totalling £184,266.45, of which at least £46,286.30 was owed in respect of the BBL. 

This information is correct as at 15 / 10 / 2026

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