Name: Sevil Shakir

Name: Ovo Hire Ltd

Date of Birth: 12 / 5 / 1984

Date Order Starts: 15 / 2 / 2024

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 09944053

Last Known Address: 49A BURLEIGH GARDENS, , , , LONDON, N14 5AJ

Conduct: On 10 June 2020 Mr Sevil Shakir (‘Mr Shakir) caused Ovo Hire Ltd (“Ovo”) to provide false or misleading information when applying for a £46.000 Government-backed bounce back loan (‘BBL’). Ovo therefore received £35,452 more than that it was entitled to. Furthermore, Mr Shakir failed to use the BBL in its entirety for the economic benefit of Ovo, contrary to the terms and conditions of the BBL scheme, in that: • Ovo was incorporated on 11 January 2016. • The terms of the BBL scheme were such that an applicant company could obtain a loan of up to 25% of its turnover for the 2019 calendar year, to a maximum value of £50,000. Any BBL provided was to be used wholly for the benefit of the applicant company. Applicants were permitted to obtain one BBL only. • Ovo filed accounts at Companies House for year ending 31 January 2019 on 30 September 2019, no turnover was specified in these accounts. • The Report to Creditors completed at liquidation, states turnover for year ending 31 January 2019 was £40,277 and for year ending 31 January 2020 was £37,921. • Analysis of Ovo’s bank statements for the calendar year 2019, indicates turnover of £42,193. • Based on income into Ovo’s bank account during 2019, Ovo was eligible for a maximum BBL of £10,548. • Ovo received more than £35,452 in BBL funding than it was eligible for. • On 10 June 2020 Mr Shakir applied for a BBL of £46,000 stating that Ovo’s annual turnover for 2019 had been £195,000. The BBL application was signed by Mr Shakir. • Ovo received the BBL monies of £46,000 into its bank account on 12 June 2020. • Prior to receipt of the BBL, OVO’s bank account was in credit by £751 • Between the 12 June 2020 and 28 August 2020 a total of £42,395 was paid from Ovo’s bank account to Mr Shakir. • During this period, Ovo was in receipt of HMRC Job retention grant of £1,695 • No other income had been received into Ovo’s account in the intervening period • No evidence has been provided to show that these payments to Mr Shakir were for the sole economic benefit of Ovo and therefore this is contrary to the purpose of the Covid support scheme. • Ovo made repayments of £3,266 towards the BBL • Ovo entered Creditors’ Voluntary Liquidation on 23 December 2021 • At Liquidation, £ 42,735 was outstanding in respect of the outstanding BBL 

This information is correct as at 25 / 1 / 2024

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