Name: Nicos Loizos

Name: Little Nicks Barbers Limited

Date of Birth: 5 / 7 / 1976

Date Order Starts: 6 / 3 / 2024

Disqualification Length: 9 Years 0 Month(s)

CRO Number: 10062519

Last Known Address: 17 Bulrush Close,, Brownhills,0, , , WALSALL,, WS8 6DB

Conduct: Mr Nicos Loizos (“Mr Loizos”) breached the terms of the Bounce Back Loan (“BBL”) scheme by causing Little Nicks Barbers Limited (“LNB”) to overstate its turnover on its application for a BBL. As a result, LNB received BBL’s of £25,000 and £9,500. when Mr Loizos knew or ought to have known that LNB was not eligible for loans totalling that amount, in that. • Under the BBL scheme businesses could apply for a loan of between £2,000 and £50,000 subject to a maximum of up to 25% of turnover. The turnover figure was self-certified by the applicant. The turnover figure required was that for the calendar year 2019 or where a business was established after 01 January 2019 it was their estimated turnover from the date the business started. • LNB was incorporated on 14 March 2016 and started trading immediately. • Mr Loizos applied for a BBL disclosing turnover as £138,000. • On 05 May 2020 LNB received BBL funds of £25,000. • On 18 November 2020 LNB received BBL funds of £9,500. • LNB’s accounts for the year ending 31 March 2019 shows turnover of £66,241. • LNB’s accounts for the year ending 31 March 2020 shows turnover of £70,475. • Based on LNB’s accounts for the year ending 31 March 2020. LNB was eligible to apply for a BBL of a maximum of £17,619. • The overstatement of turnover meant the LNB received £16,881 more than it was entitled to from the BBL scheme. • Total liabilities at liquidation were £59,708, including £32,411 in respect of the BBL obtained. 

This information is correct as at 15 / 2 / 2024

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