Bradley Malone was the director and majority shareholder of Onenetprint Ltd, based in London. The firm was established in March 2012.

Malone applied for a £50,000 taxpayer-backed Bounce Back Loan (BBL) on 17 June 2020 and stated that Onenetprint’s annual turnover was £200,000.

The loan was paid into the company’s account on 18 June 2020.

The terms of the BBL support for small businesses during the pandemic allowed businesses to borrow a minimum of £2,000 and up to £25% of a firm’s turnover in calendar year 2019.

However, the Insolvency Service said that professionally prepared financial statements for the financial year ending 31 March 2019 showed the firm’s actual sales were just £94,867, while bank statement analysis for calendar year 2019 showed sales of £90,246.

Based on that figure the maximum BBL entitlement for Onenetprint would have been £22,561.

“Mr Malone has overstated the company turnover on the application form resulting in Onenetprint receiving at least £27,438 in BBL proceeds that it was not entitled to receive,” the report stated.

Malone has been disqualified from being a director for ten years, with the banning order effective from today (17 July 2023).

Onenetprint went into liquidation on 22 February 2022. The £50,000 BBL made up most of its estimated total deficiency of £67,499.

Malone was born in March 1966 and his last known address was on Palmers Road, Bethnal Green, London.