CompaniesInTheUK

MR OLUFEMI ADEKOYA

1 current appointment

Director disqualification 1

A record on the Insolvency Service's register of disqualified directors matches this person's name and date of birth. Companies House publishes no reliable person identifier, so confirm on the official register before relying on it.

Olufemi Adekoya

11 Years 0 Month(s)
Same month of birth Name matched
Disqualified from
2025-12-19
Date of birth on record
July 1969

Mr Olufemi Adekoya (“Mr Adekoya”) breached the terms of the Bounce Back Loan Scheme by causing M4CUBE Limited (“M4CUBE”) to overstate its turnover on its application for a Bounce Back Loan (“BBL”) resulting in the company receiving a BBL of £49,625 when he knew or ought to have known that M4CUBE was only eligible for a loan to a maximum value of £18,904. Furthermore, Mr Adekoya failed to ensure the BBL funds were used for the economic benefit of M4CUBE Limited, in that: • The BBL scheme rules allowed businesses to receive a loan of up to 25% of their annual turnover for the 2019 calendar year, which those businesses would self-certify when completing the BBL application • The BBL scheme required the funds to only be used to provide economic benefit to the business. • M4CUBE was incorporated on 17 December 2013. • M4CUBE annual accounts for the financial years ending 31 March 2019 and 31 March 2020 shows the company achieved a turnover of £96,750 and £55,237 respectively. • Statements for M4CUBE’s bank account from 07 January to 31 December 2019 record income paid into the account totalling £75,616. Based on this figure, the maximum amount of BBL M4CUBE was entitled to was £18,904 • On 08 September 2020, M4CUBE applied for a BBL of £49,625, stating a company turnover of £198,500. The application was signed by his co director. • On 09 September 2020, the £49,625 BBL funds were paid into M4CUBE’s bank account. • On 15 September 2020, £49,000 was transferred out of M4CUBE’s bank account to an unknown bank account. No evidence has been provided to show the funds were used for the benefit of M4CUBE. • At liquidation, the company owed £120,808 of which £48,000 was owed to a Bank in respect of the BBL and £72,808 to HMRC.

Details

Occupation
CONSULTANT
Nationality
BRITISH
Country of residence
UNITED KINGDOM
Date of birth
July 1969
Correspondence address
92 REDBOURNE DRIVE, BEXLEY, LONDON, SE28 8RX

Appointments 1

Why these appointments?

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Records that may be the same person 2

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