Muhammad RIZWAN

Disqualified from

2023-03-02

Date of birth on record

January 1982

1) Hafiz Muhammad Rizwan (“Mr Rizwan”) failed to ensure that BBQD Limited (“BBQD”) maintained and/or preserved adequate accounting records or, in the alternative, he failed to deliver up such records to the Liquidator as required. Due to the absence of accounting records available from 01 February 2020 to 16 July 2021, it has not been possible: • To verify Mr Rizwan’s explanation that funds of £351,381, which were received into BBQD’s business bank account, all represented genuine business income of BBQD. • To verify Mr Rizwan’s explanation that funds of £275,758, which were paid from BBQD’s business bank account, all represented genuine purchases and genuine business expenses of BBQD. • To determine that funds of £15,308, which were paid from BBQD’s business bank account, represented genuine business expenses of BBQD. • To verify Mr Rizwan’s explanation that funds of £47,879, which were paid in cash from BBQD’s business bank account, all represented genuine business expenditure. • To verify Mr Rizwan’s explanation that funds of, at least £26,775, which were paid to him in addition to his wages, from BBQD’s business bank account were to be adjusted in his director’s loan account and confirm the accuracy of his director’s loan account at the date of liquidation. • To verify Mr Rizwan’s explanation that the proceeds of a Coronavirus Bounce Back Loan of £20,000, which BBQD obtained in May 2020, was used to meet the genuine business expenses of BBQD and the economic benefit of BBQD. • Determine, based on the amount of funds being received into BBQD’s business bank account; if and when BBQD should have been registered for VAT purposes, the amounts of VAT that BBQD would have thereafter been required to account for to HM Revenue & Customs in respect of its trading activities; and the amount of any VAT liabilities that BBQD may have therefore been required pay to HM Revenue & Customs. • For the Liquidator to identify any receipts or payments that may have occurred which did not go through BBQD’s business bank account and for the Liquidator to be certain that all of BBQD’s creditors have been properly identified.