Name: Ashfaq Shaikh

Name: DOUBLE ANCHOR LIMITED

Date of Birth: 19 / 10 / 1989

Date Order Starts: 27 / 6 / 2025

Disqualification Length: 10 Years Years 0 Month(s)

CRO Number: 11835382

Last Known Address: 29 Peninsula Court, 2 Montford Place, , , LONDON, E15 2QW

Conduct: Ashfaq Shaikh (Mr Shaikh) caused Double Anchor Limited (Double) to apply for a Bounce Back Loan (BBL) of £50,000 on 28 January 2021 using an overstated turnover figure in the BBL application form. Consequently, Double 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 annual turnover from the date the business started. • Double was incorporated on 19 February 2019 and began trading on 29 February 2020. • On 28 January 2021 Mr Shaikh applied for a BBL of £50,000 on behalf of Double declaring that its estimated turnover was £210,000. As the company had traded for nearly 12 months at this date, its actual annual turnover would have been known from available company records at the date of the BBL application. • On 29 January 2021 the BBL of £50,000 was paid into Double’s bank account. • Accounting records show that Double submitted Dormant Accounts for YE 28 February 2020. Accounts submitted for YE 28 February 2021 show a turnover of £3,199. • Business records show that Mr Shaikh expected Double to have further income of £9,500 in February 2021. • Bank records show that first income other than BBL received into company bank account was on 17 November 2021. • Mr Shaikh states that the company received an income of £6,000 between 29 February 2020 and 28 January 2021 when he made the BBL application, though no evidence has been provided of this. • Therefore, based on a projected turnover of £12,699, the maximum amount Mr Shaikh could apply for on behalf of Double was £3,175. Double therefore, received £46,825 more than it was entitled to under the BBL scheme. • On 16 August 2023 Double entered Creditors Voluntary Liquidation with total liabilities of £72,995 of which £43,667 relates to the outstanding BBL. 

This information is correct as at 10 / 6 / 2025

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