Name: Mohammed  Iftikhar

Name: Spicy Pizza Idle Limited

Date of Birth: 8 / 6 / 1951

Date Order Starts: 8 / 7 / 2025

Disqualification Length: 10 Years Years 0 Month(s)

CRO Number: 12050478

Last Known Address: 135 Wilmer Road, , , , BRADFORD, BD9 4AG

Conduct: Mohammed Iftikhar (“Mr Iftikhar”) breached the terms of the Bounce Back Loan (“BBL”) scheme by causing Spicy Pizza Idle Limited (“SPI”) to overestimate its turnover when applying for a BBL. As a result, SPI received a £50,000 BBL when Mr Iftikhar knew, or ought to have known, that SPI was not eligible for a loan of any amount, and failed to use the entirety of the BBL for the economic benefit of SPI, 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 from the date trade commenced. The terms and conditions of the BBL stated that the loan was to be used to provide economic benefit to the company, wholly for business purposes and not personal purposes. - SPI was incorporated on 14 June 2019. - SPI filed dormant accounts for the periods ending 30 June 2020, 30 June 2021, and 30 June 2022. - On 17 June 2020, Mr Iftikhar applied for a £50,000 BBL on behalf of SPI declaring that its estimated annual turnover was £205,000. The BBL funds were paid into SPI’s bank account the following day.     - Analysis its of bank statements shows that SPI did not receive any trading income prior to obtaining the BBL, and that the BBL was the first transaction on the bank account. - Based on the income received during the first 12 months following incorporation (14 June 2019 to 13 June 2020), SPI would not have been entitled to a BBL of any amount. - The overestimation of turnover meant that SSI received £50,000 more than it was entitled to from the BBL scheme. - Following the obtention of the BBL, between 18 June 2020 and 01 March 2021, a total of 202 cash withdrawals were made from SPI’s bank account, totalling £49,715. - Accounting records have not been provided by Mr Iftikhar to explain how the turnover figure was estimated, or how the use of the BBL monies was for the economic benefit of SPI. - SPI entered liquidation on 04 April 2023 with liabilities totalling £58,874.91 of which £45,569.35 was owed in respect of the BBL. 

This information is correct as at 19 / 6 / 2025

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