Name: S&A+ LTD.

Date of Birth: 14 / 12 / 1955

Date Order Starts: 26 / 1 / 2023

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 12321136

Last Known Address: 133 Bowerdean Road, , , , HIGH WYCOMBE, HP13 6AY

Conduct: On 3 August 2020 Svetlin Emilov Georgiev (“Mr Georgiev”) caused S&A+ Ltd to obtain a Bounce Back Loan (BBL) of £49,500 to which it was not entitled. From the loan proceeds received, Mr Georgiev used £42,800 of those monies in a way that was not for the economic benefit to the company. In that: The terms of the BBL scheme stated that the company must have been established and operating before 1 March 2020 and that a business could apply for a loan of between £2,000 and £50,000 subject to a maximum of up to 25% of turnover in calendar year 2019 or where a business was established after 1 January 2019 it is their estimated turnover. S&A+ Ltd was incorporated on the 19 November 2019 but there were no business transactions on the company’s bank account until after 1 March 2020, and the company did not commence trading until April 2020. Consequently, the company was not entitled to apply for a BBL of £49,500 on the 3 August 2020. The terms of the BBL also stated that its intended purpose was to provide economic benefit to the business and not for personal purposes. Having received the BBL of £49,500 on 3 August 2020, most of the funds where unused until £42,800 was paid to a third party between 11 January 2021 and 15 January 2021 after which date there were no business transactions on the company’s bank account and the company ceased trading. The amount of the payments was excessive for the services stated to have been provided. On 8 September 2021 S&A+ Ltd entered creditors’ voluntary liquidation with liabilities of £49,515 including £49,500 which is owed in respect of the BBL. 

This information is correct as at 6 / 1 / 2023

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