Name: Felix Mckeown Gibson

Name: I802 LIMITED

Date of Birth: 11 / 10 / 1957

Date Order Starts: 7 / 7 / 2026

Disqualification Length: 10 Years 0 Month(s)

CRO Number: SC639581

Last Known Address: 35 Wood Street, , , , COATBRIDGE, MLS 1 LY

Conduct: On 22 May 2020, Mr Felix Mckeown Gibson (“Mr Gibson”), caused I802 Limited (“I802”) to breach the terms and conditions of the Bounce Back Loan (“BBL”) scheme by applying for a BBL when he knew or ought to have known that I802 was not eligible for a BBL of £50,000, resulting in I802 receiving BBL funds that it was not entitled to. Furthermore, Mr Gibson failed to ensure that the funds obtained from the BBL scheme were used for the economic benefit of I802, 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, it was their estimated annual turnover from the date the business was started.  • The company had to be carrying on its business on 01 March 2020, be engaged in trading activity at the date of the application and adversely impacted by COVID-19. • I802 was incorporated on 22 August 2019. Therefore, if eligible, the turnover figure stated on the BBL application form should have been I802’s estimated annual turnover from the date the business started trading.  • On 22 May 2020, I802 applied for a BBL of £50,000 declaring that its estimated turnover was £345,000. I802 received BBL funds of £50,000 on 27 May 2020. • I802’s bank account was opened on 18 September 2019 with the first transaction being the receipt of the £50,000 BBL funds on 27 May 2020. • Bank statements indicate that there was no trading income on the account in the period 18 September 2019 to 26 May 2021. Accounts prepared for I802 for the period ending 31 August 2020 show that there was no turnover. • Based on the above, I802 would not have been eligible to apply for a BBL of any amount as it was not carrying on its business on 01 March 2020 and not engaged in trading activity at the date of the application. I802 therefore received BBL funds of £50,000 to which it was not entitled. • Mr Gibson has not provided any documentary evidence to support the estimated turnover figure of £345,000 or to show that I802 was entitled to apply for a BBL of £50,000. • Between 26 May 2020 and 26 May 2021, the £50,000 BBL funds were expended from the bank account of I802, a period in which the bank account did not receive the proceeds of any trading. • Mr Gibson has not provided any evidence that the £50,000 BBL funds were used for the economic benefit of I802. • I802 made repayments of £1,775 to the BBL • On 17 May 2024, I802 entered Creditor’s Voluntary Liquidation with total liabilities of £48,598, all of which was owed in respect of the BBL. 

This information is correct as at 25 / 6 / 2026

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