Name: azhar Shafiq

Name: BUY1248 LIMITED

Date of Birth: 15 / 4 / 1983

Date Order Starts: 29 / 4 / 2025

Disqualification Length: 9 years Years 0 Month(s)

CRO Number: 11989733

Last Known Address: 150 Eton Road, , , , Ilford, IG1 2UJ

Conduct: On 11 May 2020 Azhar Ali Shafiq (Mr Shafiq) caused Buy1248 Ltd (Buy1248) to apply for a Bounce Back Loan (“BBL”) of 50,000 using overstated turnover figures, which resulted in Buy1248 obtaining a BBL that was £47,124 more than it was entitled to. 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 1 January 2019 it is their estimated turnover. • Buy1248 was incorporated on 10 May 2019. Mr Shafiq stated it commenced trading on the same date. Therefore estimated turnover for the first 12 months of trading was required. • On 11 May 2020, Mr Shafiq applied for a BBL of £50,000 on behalf of Buy1248 declaring that its turnover was £300,000. • An analysis of bank statements from 11 May 2019 to 10 May 2020 showed bank income (excluding JRS payments) totalled £11,502. • Buy1248 received the BBL funds of £50,000 on 12 May 2020. • Total liabilities at liquidation amount to £70,079 of which £43,717 relates to the amount owed in respect of the BBL. 

This information is correct as at 10 / 4 / 2025

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