Name: Mace Al Nakeeb

Name: Riverside Delight Ltd

Date of Birth: 26 / 11 / 1981

Date Order Starts: 13 / 3 / 2024

Disqualification Length: 9 Years 0 Month(s)

CRO Number: 11508409

Last Known Address: 66 Walwick Fell,, , , , NEWCASTLE UPON TYNE,, NE15 6BT

Conduct: Mrs Mace Al Nakeeb (“Mrs Nakeeb”) caused Riverside Delight Ltd. (“Riverside”) to breach the terms and conditions of the Bounce Back Loan (“BBL”) scheme by overestimating its turnover on the BBL application. As a result, Riverside received more funds than it was entitled to from the BBL scheme, 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, it was their estimated turnover.?? • Riverside was incorporated on 09 August 2018.? • On 5 May 2020, Mrs Nakeeb applied for a BBL of £25,000 on behalf of Riverside declaring that its turnover for the calendar year 2019 was £120,000. • Riverside’s accounts for the period 09 August 2018 to 31 August 2019 show turnover of £20,932, and for the period ending 31 August 2020 show a turnover of £43,849. • Riverside’s bank statements show credits to the account from 01 September 2019 to 31 December 2019 totalling £12,126 (not including loans made to Riverside). Based on the turnover shown in the 2019 accounts and the bank credits Riverside would have been entitled to apply for a BBL of £8,265. • Mrs Nakeeb has not provided any documentary evidence to show what the stated turnover figure of £120,000 was based on or that Riverside was entitled to apply for a BBL of £25,000. • Riverside received the BBL funds of £25,000 on 11 May 2020. • The overstatement of turnover meant that the Riverside received at least £16,735 more than it was entitled to from the BBL scheme. ? • On 31 October 2022, Riverside entered Creditor’s Voluntary Liquidation with total liabilities of £63,003 of which £24,402 was owed in respect of the BBL. 

This information is correct as at 22 / 2 / 2024

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