Name: Olufemi Adekoya

Name: M4CUBE LIMITED

Date of Birth: 17 / 7 / 1969

Date Order Starts: 19 / 12 / 2025

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 08817201

Last Known Address: 92 Redbourne Drive, , , , LONDON, SE28 8RX

Conduct: Mr Olufemi Adekoya (“Mr Adekoya”) breached the terms of the Bounce Back Loan Scheme by causing M4CUBE Limited (“M4CUBE”) to overstate its turnover on its application for a Bounce Back Loan (“BBL”) resulting in the company receiving a BBL of £49,625 when he knew or ought to have known that M4CUBE was only eligible for a loan to a maximum value of £18,904. Furthermore, Mr Adekoya failed to ensure the BBL funds were used for the economic benefit of M4CUBE Limited, in that: • The BBL scheme rules allowed businesses to receive a loan of up to 25% of their annual turnover for the 2019 calendar year, which those businesses would self-certify when completing the BBL application • The BBL scheme required the funds to only be used to provide economic benefit to the business. • M4CUBE was incorporated on 17 December 2013. • M4CUBE annual accounts for the financial years ending 31 March 2019 and 31 March 2020 shows the company achieved a turnover of £96,750 and £55,237 respectively. • Statements for M4CUBE’s bank account from 07 January to 31 December 2019 record income paid into the account totalling £75,616. Based on this figure, the maximum amount of BBL M4CUBE was entitled to was £18,904 • On 08 September 2020, M4CUBE applied for a BBL of £49,625, stating a company turnover of £198,500. The application was signed by his co director. • On 09 September 2020, the £49,625 BBL funds were paid into M4CUBE’s bank account. • On 15 September 2020, £49,000 was transferred out of M4CUBE’s bank account to an unknown bank account. No evidence has been provided to show the funds were used for the benefit of M4CUBE. • At liquidation, the company owed £120,808 of which £48,000 was owed to a Bank in respect of the BBL and £72,808 to HMRC. 

This information is correct as at 1 / 12 / 2025

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