Name: BABOUCAR Jack

Name: ESSENTIALS TRADING UK LTD

Date of Birth: 19 / 3 / 1958

Date Order Starts: 17 / 3 / 2025

Disqualification Length: 10 years Years 0 Month(s)

CRO Number: 12154142

Last Known Address: Flat 25, 83 Little Gearies, Cranbrook Road,, , , , ILFORD,, IG6 1GT

Conduct: On 09 May 2020 Baboucar Jack (“Mr Jack”) caused Essentials Trading UK Ltd (“Essentials Trading”) to breach the terms and conditions of the Bounce Back Loan (“BBL”) scheme by overestimating its turnover on a BBL application resulting in Essentials Trading 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 applicant. 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. • Essentials Trading was incorporated on 13 August 2019 and was therefore able to use estimated turnover. • On 09 May 2020 Mr Jack applied for a BBL of £50,000 on behalf of Essentials Trading declaring its estimated turnover was £600,000. • Mr Jack has provided no evidence to support the basis of this turnover declared on the BBL application. • Essentials Trading’s accounts as at 31 August 2020 record turnover of £4,879. • From 23 August 2019, the date of the first transaction on Essentials Trading’s bank account, to the date of the BBL application on 20 May 2020 there were receipts totalling £26,412. • On 11 May 2020 Essentials Trading received the BBL funds of £50,000 into its bank account. At this date the balance on the account was £275. • Between 22 May 2020 and 31 December 2020 Essentials Trading received £22,176 into its bank account. • Based on the total income received into the bank account between 23 August 2019 and 31 December 2020 Essentials Trading was entitled to a maximum of £12,147 and therefore received £37,853 of BBL funds to which it was not entitled. • Essentials Trading entered Creditors Voluntary Liquidation on 23 August 2022. Total liabilities at liquidation amounted to £51,428, of which £50,000 related to the amount owed in respect of the BBL. 

This information is correct as at 25 / 2 / 2025

If you believe this page contains any errors, please email legalservices@insolvency.gov.uk with details of the error that you have found.