Name: Shmail Sattar Shahid

Name: NEST PS LTD

Date of Birth: 29 / 6 / 1986

Date Order Starts: 18 / 8 / 2026

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 10491807

Last Known Address: 81 Hillesden Avenue, Elstow, , , BEDFORD, MK42 9AJ

Conduct: Shmail Sattar Shahid (“Mr Shahid”) caused Nest PS Ltd (“Nest”) to breach the terms of the Bounce Back Loan (“BBL”) scheme by i) applying for a BBL of £44,000 on or around 04 May 2020 and ii) applying for a BBL top-up of £1,000 on or around 11 November 2020, when he knew, or ought to have known, that the company was not entitled to a BBL. Furthermore, Mr Shahid failed to ensure the funds were used for the economic benefit of Nest, in that: • Under the BBL scheme, businesses could apply for a BBL of between £2,000 and £50,000 subject to a maximum of up to 25% of their 2019 turnover, if it was carrying on business on 01 March 2020, engaged in trading or commercial activity in the UK at the date of the application, and had been adversely affected by the Covid pandemic. Businesses incorporated after 01 January 2019 were asked to estimate their turnover from the date the business started. • Nest was incorporated at Companies House on 22 November 2016. • Dormant accounts were filed for the years ended 30 November 2017, 30 November 2018, and 30 November 2019. • On or around 04 May 2020, Mr Shahid applied for a £44,000 BBL on behalf of Nest, declaring its turnover as £180,000. • On 06 May 2020, Nest received the £44,000 BBL funds into its bank account, bringing the account balance to £43,977. • On or around 11 November 2020, Mr Shahid applied for a £1,000 top-up BBL on behalf of Nest. • On 11 November 2020, Nest received the £1,000 top-up BBL funds into its bank account, bringing the account balance to £1,626. • The bank statements for Nest show that no trading income was received from 01 January 2019 to 10 November 2020, with the only receipts being loans from Mr Shahid, bank account interest, and the BBL funds. • Therefore, Nest was not carrying on business on 01 March 2020 and was not eligible to receive any BBL funds. • The BBL scheme required the funds to only be used to provide economic benefit to the business and not for personal purposes. • On 07 May 2020, £40,000 was transferred out of Nest’s bank account with the description “Director Loan” and £3,000 was transferred out as an international money transfer. Mr Shahid has failed to evidence that these funds were used for the economic benefit of Nest. Nest was wound up on 10 September 2025 with liabilities of £47,273, of which £45,939 related to the BBL. 

This information is correct as at 29 / 7 / 2026

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