Case details for Salah  Yamani

Name: Salah  Yamani

Name: INV7126637 - LAND CONSTRUCTION LTD

Date of Birth: 2 / 10 / 1974

Date Order Starts: 23 / 12 / 2024

Disqualification Length: 10 years Years 0 Month(s)

CRO Number: 09030398

Last Known Address: 4 Bittacy Road,, , , , , NW7 1BP

Conduct: On 02 June 2020 Salah Yamani (“Mr Yamani”) caused Land Construction Ltd (“Land”) to overstate its turnover to obtain a Government-backed Bounce Back Loan (“BBL”) of £50,000 to which it was not entitled to. Furthermore, Mr Yamani failed to use the BBL funding for the economic benefit of the Company, contrary to the terms of the BBL scheme. In that: • The BBL scheme permitted a loan of up to 25% of a business’ turnover in the calendar year 2019 (or estimated annual turnover if it had been established after 01 January 2019), to a maximum of £50,000. The BBL funds were to be utilised for the economic benefit of the company. • Land was incorporated on 08 May 2014. Mr Yamani was appointed as the sole director throughout trading. • Accounts for the year ending 30 May 2020 show turnover of £60,540. Bank statements for the calendar year 2019 show income of £72,625. • On 02 June 2020, Mr Yamani applied on behalf of Land for a BBL of £50,000 stating the annual turnover was £200,000. Mr Yamani also confirmed that the business was impacted by Covid and that the information contained in the application form was complete and accurate. • On 03 June 2020, the BBL proceeds of £50,000 were credited to Land’s account, this was an additional £31,844 more than Land was entitled to. • Prior to receipt of the BBL funds, Land’s bank account was £1,866 in credit. • Between 03 June 2020 and 20 July 2020, the only credit into Land’s bank account was £60.00. • On 20 July 2020, the sum of £42,000 was transferred to a connected party with the narrative ‘gift’ quoted on the bank statement. At least £40,000 of the payment to the connected party was funded by the BBL. • Mr Yamani provided an invoice stating that this payment was for “services rendered by connected party”, which were due for payment by 21 May 2020, however the accounts for the year ending 31 May 2020 make no reference to any sums due, • According to the signed report to creditors dated 15 August 2022, Land’s accounts for the year ending 31 May 2021, there was an outstanding debtor ledger of £49,639. Mr Yamani confirmed that the debts arose from “the utilisation of company funds for the benefit of an associated company” • Land entered Creditors’ voluntary liquidation on 29 August 2022 • Two repayments were made totalling £1,515.34 towards the BBL, leaving £49,514.42 outstanding at liquidation. 

This information is correct as at 3 / 12 / 2024



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