Name: Ajefor ALI

Name: BALTIKINGSTANDING LTD

Date of Birth: 10 / 11 / 1974

Date Order Starts: 29 / 3 / 2024

Disqualification Length: 9 Years 0 Month(s)

CRO Number: 12112605

Last Known Address: 188 Villa Street,, , , , BIRMINGHAM,, B19 1QA

Conduct: On 08 June 2020, Ajefor Ali (“Mr Ali”) caused BaltiKingstanding Ltd (“BKS”) to apply for a £50,000 Bounce Back Loan (“BBL”) when he knew or ought to have known that he made a wrongful declaration by overestimating BKS’s turnover. As a result, BKS has received more BBL funds that 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, an estimated annual turnover figure could be used. ?? • BKS was incorporated on 19 July 2019 and started trading during October of the same year. • Bank statement analysis shows BKS’s first sales income was received on 01 October 2019. Between this date and 31 May 2020 (8 months), BKS received sales income totalling £19,243.44. • On 08 June 2020, Mr Ali applied for a £50,000 BBL on behalf of BKS, declaring that its estimated annual turnover was £210,000.?The BBL funds were credited into BKS’s bank account on 09 June 2020. • Between 10 June 2020 and 09 June 2021, BKS received sales income totalling £35,542.92. • BKS entered Liquidation on 05 July 2022 with liabilities totalling £63,020 of which £50,000 relates to the amount owed in respect of the BBL.? 

This information is correct as at 11 / 3 / 2024

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