Name: Robert John COATES

Name: Novavapes Eliquid Ltd

Date of Birth: 9 / 11 / 1993

Date Order Starts: 9 / 9 / 2025

Disqualification Length: 8 Years  Month(s)

CRO Number: 10022234

Last Known Address: 14 Barton Crescent, , , , Billingham, TS22 5HJ

Conduct: Robert Coates (“Mr Coates”) caused Novavapes Eliquid Ltd (“Novavapes”) to access loans from government Covid support schemes, being a Bounce Back Loan (“BBL”) and a Coronavirus Business Interruption Loan Scheme (“CBILS”), in a combined sum of £109,000 which Novavapes was not eligible to receive, and caused Novavapes to breach the terms of the CBILS, in that • The terms of the BBL scheme stated that the maximum loan available was 25% of the Company’s turnover for 2019, up to a maximum of £50,000. • The maximum CBILS loan available to the company was 25% of the Company’s turnover for 2019, up to a maximum of £5 million. As any outstanding BBL had to be repaid under the terms of the CBILS scheme, the maximum CBILS loan amount available to the Company was therefore also the maximum Covid loan facility that was legitimately available to the Company through these combined schemes. • The Company Novavapes obtained a BBL of £50,000 on the 11th of May 2020. • The Company Novavapes obtained a CBILS loan of £59,000 on the 1st of December 2020 and failed to use some of those funds to repay the whole of the existing BBL. • The Company Novavapes therefore obtained a combined loan facility of £109,000 • Novavapes’ turnover for the calendar year 2019 was £268,723 so the maximum CBILS loan facility that it was entitled to through the loan provider was £67,181. • The terms of the CBILS loan application stipulated that “The Borrower represents and warrants that:… the Borrower … does not have an existing loan under the Bounce Back Loan Scheme (BBLS), … or, if it does, this CBILS Loan will be used to repay the whole of any existing BBLS, ...” • In failing to use part of the CBILS to repay the BBL immediately the Company Novavapes retained £41,819 of Coronavirus loan funding that it was not entitled to. • Only 6 capital repayments totalling £3,452 were ever made in respect of the BBL. At liquidation on 26/05/23, £47,180.70 of the BBL remained outstanding. • Only 3 capital repayments totalling £1,489.74 were ever made in respect of the CBILS. At liquidation on 26/05/23, £57,510.26 of the CBILS remained outstanding. • At the point of liquidation the Company had therefore retained £36,877 in excess of its legitimate Covid support scheme entitlement. 

This information is correct as at 19 / 8 / 2025

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