Name: Michala Drake

Name: GOLD STANDARD ESTATES LIMITED

Date of Birth: 19 / 9 / 1968

Date Order Starts: 7 / 7 / 2026

Disqualification Length: 7 Years  Month(s)

CRO Number: 12165061

Last Known Address: 38b, Church Hill, LOUGHTON, , , IG10 1 LA

Conduct: Michala Drake (“Ms Drake”) caused Gold Standard Estates Limited (“Gold Standard”) to apply for a government-backed Bounce Back Loan (“BBL”) of £50,000 using overstated estimated turnover figures, when she knew, or ought to have known, that Gold Standard was entitled a BBL for at least £3,778, in that: • Under the BBL scheme a business was able to borrow up to 25% of its turnover in calendar year 2019, up to a maximum of £50,000 and, if the business was established after 1 January 2019, it was to apply the 25% limit to its estimated annual turnover from the date it started. The turnover figure was self-certified by the applicant. • Gold Standard was incorporated on 20 August 2019 and undertook activities commensurate with preparing to trade from that date. • On 29 June 2020, Ms Drake applied for a BBL of £50,000 on behalf of Gold Standard, stating in the loan application that Gold Standard’s relevant turnover was £200,000. • Company bank statements for the period 13 September 2019 (first date available) to 28 June 2020 show trading turnover of £0. • On 29 June 2020, funds of £50,000 were credited to Gold Standard’s bank account. • Company Accounts for the Year Ended 31 August 2020 declared turnover of £15,111. • Gold Standard therefore received BBL funds of at least £46,222 more than it was entitled to. • Gold Standard made repayments of £10,087.43 • At the date of the liquidation on 21 March 2024, the Statement of Affairs shows that total liabilities amounted to £45,068, of which £42,788 was in respect of the BBL. 

This information is correct as at 19 / 6 / 2026

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