Name: Margaret Oyewole

Name: MARGARET’S ACCOUNTING LTD

Date of Birth: 7 / 8 / 1980

Date Order Starts: 23 / 7 / 2026

Disqualification Length: 11 Years  Month(s)

CRO Number: 11701854

Last Known Address: 23 Dempster Road, , , , Wandsworth, SW18 1AS

Conduct: On 19 May 2020, Margaret Oyewole (“Ms Oyewole”) caused Margaret’s Accounting Ltd (“MAL”) to breach the terms and conditions of the Bounce Back Loan (“BBL”) scheme by fraudulently applying for a £50,000 BBL when Ms Oyewole knew, or ought to have known, that MAL was not eligible for a loan of any amount, and failed to use the entirety of the BBL for the economic benefit of MAL. 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 annual turnover could be used. The terms and conditions of the scheme stated that the BBL was to be used to provide economic benefit to the company, wholly for business purposes and not personal purposes. • MAL was incorporated on 28 November 2018, and its bank account was opened on 31 December 2018. • MAL received its first sales-related income on 21 June 2019 and was therefore allowed to estimate its turnover when applying for a BBL. • On 19 May 2020, Ms Oyewole applied for a £50,000 BBL on behalf of MAL, declaring that its estimated annual turnover was £235,000. BBL funds of £50,000 were paid into MAL’s bank account on 22 May 2020. The balance on the account prior to receipt of the BBL was £32.30. • Analysis of its bank statements shows that between 21 June 2019 and the date of the BBL application on 19 May 2020, MAL received sales-related income totalling £6,000. No further sales-related income was received for the remainder of the 12 month period ending 30 June 2020. Therefore, for the first 12 months in which trading income was received, MAL received total sales-related income of £6,000. • Based on the income received in its bank account, MAL was not entitled to apply for a BBL of any amount. By overestimating its turnover, Ms. Oyewole caused MAL to receive BBL funds of £50,000 to which it was not entitled. • Ms. Oyewole has failed to provide any contemporaneous documentary evidence to show how the turnover figure of £235,000, as declared on the BBL application, was calculated. • Following receipt of the BBL, on 27 July 2020, at least £39,988.70 of BBL funds were used to make a payment on behalf of, and for the benefit of, a third party. These funds therefore did not provide any economic benefit to MAL and were instead used for non-business purposes, contrary to the terms and conditions of the BBL scheme as declared in the application. • On 04 December 2024, MAL entered Compulsory Liquidation with liabilities totalling at least £51312.79, all of which is owed in respect of the BBL. 

This information is correct as at 2 / 7 / 2026

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