Name: Arash Sharafzadeh

Name: BSG Bolton Ltd

Date of Birth: 14 / 12 / 1992

Date Order Starts: 14 / 4 / 2026

Disqualification Length: 8 Years  Month(s)

CRO Number: 10867375

Last Known Address: 68 Hereford Road,, , , , BOLTON, BL1 4NJ

Conduct: On 04 September 2020, Arash Sharafzadeh (“Mr Sharafzadeh”) caused BSG Bolton Ltd (“BSG”) to breach the terms and conditions of the Bounce Back Loan (“BBL”) scheme by overstating BSG’s turnover when applying for a BBL. As a result, BSG received a £50,000 BBL when Mr Sharafzadeh knew, or ought to have known, that BSG was not eligible for a BBL of 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, an estimated turnover could be used. • BSG was incorporated on 14 July 2017and Mr Sharafzadeh states that the company began trading on the same day. • On 04 September 2020, Mr Sharafzadeh applied for a £50,000 BBL on behalf of BSG, declaring that its turnover for calendar year 2019 was £210,566. • Funds of £50,000 were credited into BSG’s bank account on 08 September 2020. • Accounts for year ending 31 July 2020 show that BSG had a turnover of £76,915 for the year ending 31 July 2019, and £82,104 for the year ending 31 July 2020. • Analysis of company bank statements shows that between 01 January 2019 and 31 December 2019, BSG’s gross sales totalled £94,160.42. Meaning that BSG was entitled to apply for a BBL of up to £23,540. • The overstatement of turnover meant that BSG received at least £26,460 more than it was entitled to from the BBL scheme. • On 27 February 2025, BSG entered Creditors’ Voluntary Liquidation with liabilities totalling £107,774, of which £41,152 was owed in respect of the BBL. 

This information is correct as at 26 / 3 / 2026

If you believe this page contains any errors, please email legalservices@insolvency.gov.uk with details of the error that you have found.