Name: Gabriel Ghinda

Name: GMG PROJECT FLOORING LIMITED

Date of Birth: 18 / 7 / 1982

Date Order Starts: 9 / 4 / 2024

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 10290067

Last Known Address: Flat 3, 736a High Road, Goodmayes, , , Ilford, IG3 8SX

Conduct: On 16 May 2020 Mr Gabriel Ghinda (“Mr Ghinda”) applied for and obtained a Government-backed Bounce Back Loan (‘BBL’) of £50,000.00 for GMG Project Flooring Limited (“GMG”) by providing false information regarding GMG’s turnover in 2019, thereby causing it to obtain £42,728 in BBL funding to which it was not entitled 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 1 January 2019), to a maximum of £50,000.00. GMG was incorporated in July 2016 and commenced trading at the same time. Its bank statements record income of £29,087in 2019, which would have entitled GMG to a BBL of no more than £7,272 On 16 May 2020, Mr Ghinda completed an application form for a BBL from GMG’s bank, self-certifying that its turnover in 2019 was £200,000.00 and requesting a loan of £50,000.00. A BBL of £50,000.00 was received by GMG on 18 May 2020. As GMG was trading throughout 2019 it was not entitled to estimate its turnover on the application form. GMG therefore received £42,728 to which it was not entitled. GMG entered Creditors’ Voluntary Liquidation on 13 October 2021 At Liquidation, the outstanding balance on the BBL account was £50,953 Mr Ghinda failed to ensure that GMG maintained and/or preserved adequate records or, in the alternative, he has failed to deliver up sufficient accounting records to explain GMG’s financial affairs for the period from at least 18 May 2020 to its cessation in October 2021. In that: Mr Ghinda has failed to provide adequate accounting records to enable to substantiate the transactions on the account were utilised for the benefit of the Company. The Liquidator wrote to Mr Ghinda to request such records on 14 October 2021, 29 November 2021 and 4 April 2022 but Mr Ghinda failed to provide to the liquidator The lack of records has meant that the administration of the Liquidation has been hindered. The lack of records has also meant that it has not been possible to evaluate how the BBL funds were utilised and whether it complied with the terms of the BBL scheme. 

This information is correct as at 19 / 3 / 2024

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