Name: Hamed Abdelrahman
Name: ALJAWAL LTD
Date of Birth: 18 / 12 / 1975
Date Order Starts: 7 / 6 / 2023
Disqualification Length: 10 Years – Month(s)
CRO Number: 10105165
Last Known Address: Flat 15, Charlton Lodge,, Temple Fortune Lane,, , , LONDON,, NW11 7TY
Conduct: Mr Hamed Abdelrahman (“Mr Abdelrahman”) caused Aljawal Ltd (“Aljawal”) to breach the conditions of the Bounce Back Loan (“BBL”) Scheme, by applying for and obtaining a BBL of £40,000 when he knew or ought to have known that Aljawal was not entitled to this sum. On 06 May 2020 Mr Abdelrahman applied for a BBL of £40,000, which Aljawal received on 07 May 2020; The BBL criteria allowed a business to borrow between £2,000 and up to 25% of the company turnover (up to a maximum of a £50,000 loan). For a company to be eligible for a BBL of £40,000, an annual turnover of £160,000 was required, the turnover figure concerned being that for the calendar year 2019; Aljawal’s financial statements show turnovers of £83,084 and £81,282 respectively for the years ended 30 April 2019 and 30 April 2020. Based on Aljawal’s turnover for the year ended 30 April 2019, the largest BBL the company was entitled to receive was a loan of £20,771; Aljawal received a BBL which was £19,229 more than it was entitled to; The Liquidator has been unable to verify that BBL monies were used for the economic benefit of Aljawal’s business, as required by the conditions of the BBL scheme, as Mr Abdelrahman has failed to deliver up the company’s records; Aljawal entered liquidation on 11 October 2021 with outstanding liabilities of £69,123, including the bank for £39,659 in respect of the BBL.