Name: GABRIEL TIMIRCAN

Name: GTS FACILITY MANAGEMENT LTD

Date of Birth: 20 / 3 / 1985

Date Order Starts: 24 / 1 / 2024

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 11390612

Last Known Address: 118 Grove Road, Sparkhill, , , BIRMINGHAM, B11 4DD

Conduct: On 16 and 25 June 2020, Gabriel Timircan ("Mr Timircan") caused GTS Facility Management Ltd ("GTS") to apply for 2 Government backed Bounce Back Loans ("BBL") totalling £100,000 which it was prohibited from doing under the terms of the BBL scheme. Further, Mr Timircan provided inaccurate information in the BBL applications relating to turnover. These actions led to GTS receiving at least £97,056 more than that to which it was entitled. In that: • The BBL application scheme entitled businesses established prior to 01 January 2019 to apply for a BBL in the sum of up to 25% of its turnover in the calendar year 2019. The BBL scheme application provided that only one BBL could be obtained per business and required the applicant to declare that no other BBLs had been applied for or received. The BBL Scheme required the applicant to declare that the BBL funds would be used for the economic benefit of the business, and not be used for personal benefit. • GTS was incorporated on 31 May 2018. • On 16 June 2020, on behalf of GTS, Mr Timircan applied for BBL1 in the sum of £50,000 from Bank A. Mr Timircan completed the application forms for BBL1 and declared that GTS' annual turnover totalled £255,000. BBL1 was subsequently received into GTS' Bank A bank account on 17 June 2020. • On 25 June 2020, on behalf of GTS, Mr Timircan applied for a second BBL2 in the sum of £50,000 from Bank B Mr Timircan completed the application form for BBL2 and declared that GTS' annual turnover totalled £225,000. Mr Timircan failed to declare in the completed application form for BBL2 that GTS had previously applied for and obtained BBL1. BBL2 was subsequently received into GTS' Bank B bank account on 01 July 2020. • GTS' accounts for the accounting period ended 31 May 2019 record that its turnover for the previous 12 month period totalled £3,218. • GTS' Bank A bank account records receipts into that bank account during calendar year 2019 in the sum of total £11,670.66. GTS' Bank B bank account records receipts into that bank account during calendar year 2019 in the sum of total £105.68. On this basis, the maximum level of BBL to which GTS was entitled was £2,944 based on the level of receipts totalling £11,776.34 during calendar year 2019. However, GTS received BBLs totalling £100,000 - £97,056 more than it was entitled to receive. • Between 17 June 2020 and 27 June 2020, £43,970 from BBL funds were paid to Mr Timircan’s personal bank account. • GTS entered Creditors Voluntary Liquidation on 21 May 2021. No repayments were made towards BBL1 or BBL2 and both BBL1 and BBL2 remained outstanding in full at liquidation. 

This information is correct as at 4 / 1 / 2024

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