Name: Ionut  BADEA

Name: JOHNNY&B LTD

Date of Birth: 17 / 8 / 1983

Date Order Starts: 1 / 4 / 2024

Disqualification Length: 9 Years 0 Month(s)

CRO Number: 10750396

Last Known Address: 87 Oakleigh Avenue,, , , , EDGWARE,, HA8 5DS

Conduct: Ionut Badea (Mr Badea) caused Johhny&B Limited (J&B) to apply for a Bounce Back Loan (BBL) of £50,000 on 09 May 2020 using overstated turnover figures in the BBL application form. Consequently, J&B received more monies than it was entitled to from the BBL scheme, in that: 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 1 January 2019 it is their estimated turnover. J&B was incorporated on 03 May 2017. On 09 May 2020 Mr Badea applied for a BBL of £50,000 on behalf of J&B declaring that its turnover was £200,000. On 12 May 2020 the BBL of £50,000 was paid into J&B’s Bank Account. Accounting records show that J&B’s turnover for YE 31 December 2019 was £39,918. Bank Records Show J&B’s turnover for YE 31 December 2019 was £42,774. The amount of BBL that J&B could have applied for was at most £10,694. J&B therefore received at least £39,306 more than it was entitled to under the BBL scheme. On 14 March 2023 J&B entered Creditors Voluntary Liquidation with total liabilities of £46,244 the entirety of which relates to the outstanding BBL. ? 

This information is correct as at 12 / 3 / 2024

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