Name: Mohammed Saqib

Name: Posh Hair & Beauty Limited

Date of Birth: 30 / 1 / 1978

Date Order Starts: 29 / 1 / 2024

Disqualification Length: 9 Years 0 Month(s)

CRO Number: 06732358

Last Known Address: 1 LIMBOURNE AVENUE, , , , DAGENHAM, RM8 1HU

Conduct: Mr Mohammed Saqib (“Mr Saqib”) caused Posh Hair & Beauty Limited (“PHB”) to breach the terms of the Bounce Back Loan (“BBL”) scheme by providing inaccurate information on the BBL application. Because of his actions, PHB received BBL funds of £40,513 that it was not entitled to. In that: • The BBL scheme allowed businesses to apply for a BBL if they were engaged in trading or commercial activity in the UK at the date of the application, were carrying on business on 01 March 2020 and had been adversely affected by Covid. A business could receive a loan of up to 25% of their annual turnover for the 2019 calendar year, which the applicant would self-certify when completing the BBL application. • PHB was incorporated on 24 October 2008. • The company accounts for period ending 31 October 2019 declare a turnover of £34,016. • The company accounts for period ending 31 October 2020 declare a turnover of £34,502. • The company bank statements show income of no more than £37,951.86 was received into the company account over the 2019 calendar period. • As a result the maximum loan, PHB was entitled to was £9,487. • PHB received a BBL of £50,000 to which it was not fully entitled to, after Mr Saqib declared in the BBL application that the turnover for the 2019 calendar year was £200,000. • At liquidation, the company owed £60,463.57, £49,967.14 of which was owed to the Bank in respect of the BBL. 

This information is correct as at 9 / 1 / 2024

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