Blues warned after missing accounts deadline

[OldBlueLady]

Well, yesterday's Echo actually, but surprised no-one picked up on it. Page 8 of the edition I got,

"Southend United say they are about to file accounts for last year, after receiving an official warning. The club, who have weathered a number of financial storms over the past 18 months, should have filed accounts for 2009/10 by April 30. Companies House, the Government register of limited companies, has written to the club giving it 28 days to provide details of its financial affairs between July 2009 to 2010. A Companies House spokesman said: "A letter has been sent. If a company does not file within 28 days we will write a final letter giving a further 28 days, and if it still did not comply, we would instigate strike-off proceedings with an advert in the London Gazette."

If a company was dissolved its assets would be seized by the State. However the club are confident this will not happen. A spokeswoman (so we can guess who that is!) said: I have been advised the audit should be finalised next week. Sometimes these things take longer that the time permitted." She said the accounts should then be filed soon after.

The club have fended off seven attempts, including five by the taxman, to wind them up or put them into administration due to unpaid debts over the last 18 months. The last set of accounts filed by the club were for 2008/9, which were several weeks late last year, showed losses of more than £2 million and debts of nearly £8 million. The club have managed to clear several of their debts with the help of Sainsbury's, which wants to redevelop Roots Hall when the Blues move to a planned new stadium."

 

[Firestorm]

Last years accounts were lodged in May with no problem

Its poor reporting. The deadline is 10 months after the end of the accounting period, the accounts are to 31/7 therefore the deadline is 31/5

the letter is a reminder that there is only 1 month left. Missing the deadline is an automatic penalty and I m sure the Echo would not have missed that opportunity for a headline.

 

[Its Only A Game]

Last years accounts were lodged in May with no problem

Its poor reporting. The deadline is 10 months after the end of the accounting period, the accounts are to 31/7 therefore the deadline is 31/5

The filing deadline actually came down to 9 months a while ago, so they are technically late but I've never come across Companies House hassling a company when accounts are literally a week late.

 

[The Scribe]

At the AGM Ron made some mention of a problem with the company who does the clubs accounts. They had gone out of business or something so perhaps thats the reason for the delay.

 

[ldnfatso]

Vantis did indeed go out of business but the SUFC are now serviced by WMT in St Albans. Other than this, there really was no change. I know this because my company used Vantis also and was transfered to WMT seamlessly.

Incidentally this is from Companies House website

Name & Registered Office:
SOUTHEND UNITED FOOTBALL CLUB LIMITED(THE)
TORRINGTON HOUSE
47 HOLYWELL HILL
ST ALBANS
HERTFORDSHIRE
AL1 1HD
Company No. 00089767





Status: Active
Date of Incorporation: 03/08/1906

Country of Origin: United Kingdom

Company Type: Private Limited Company
Nature of Business (SIC(03)):
9261 - Operate sports arenas & stadiums

Accounting Reference Date: 31/07
Last Accounts Made Up To: 31/07/2009 (FULL)
Next Accounts Due: 30/04/2011 OVERDUE
Last Return Made Up To: 02/05/2010
Next Return Due: 30/05/2011

 

[Hotman]

Last years accounts were lodged in May with no problem

Its poor reporting. The deadline is 10 months after the end of the accounting period, the accounts are to 31/7 therefore the deadline is 31/5

the letter is a reminder that there is only 1 month left. Missing the deadline is an automatic penalty and I m sure the Echo would not have missed that opportunity for a headline.

That's poor posting - the deadlines have changed, so it isn't just a reminder. And yes, it is an automatic penalty, hopefully we can afford £150.

 

[Beefy]

Since when did companies get hit with striking off notices for late filing of accounts? Late filing of returns, yeah, but accounts is just a fine I thought...?

 

[Firestorm]

That's poor posting - the deadlines have changed, so it isn't just a reminder. And yes, it is an automatic penalty, hopefully we can afford £150.

No, its poor research, I thought it was 10 months , checked it on the HMRC website and found a reference to 10 months and took it as confirmation.
That obviously referred to returns and not the accounts......

 

[class]

That's poor posting - the deadlines have changed, so it isn't just a reminder. And yes, it is an automatic penalty, hopefully we can afford £150.

Plus they were late last year, so the fines are in fact doubled!!

 

[pringlejon]

Plus they were late last year, so the fines are in fact doubled!!

Don't worry though, I have it on good authority that the club are asking the trust for half the money to pay these fines, so we should be ok.

 

[CAPTAIN BIRDSEYE]

firestorm gets something wrong relating to southends accounts "shock horror" next in this thrilling instalment, he final admits that southend utds accountancy might be a bit snow white and the 7 dwarfs.

 

[Hotman]

No, its poor research, I thought it was 10 months , checked it on the HMRC website and found a reference to 10 months and took it as confirmation.
That obviously referred to returns and not the accounts......

No, because HMRC tax returns for companies are due after 12 months #firestormgetsitwrongagain :smiles:

 

[Mick]

firestorm gets something wrong relating to southends accounts "shock horror" next in this thrilling instalment, he final admits that southend utds accountancy might be a bit snow white and the 7 dwarfs.

... or more like Pinocchio ?

 

[Firestorm]

No, because HMRC tax returns for companies are due after 12 months #firestormgetsitwrongagain :smiles:

Fair call...

I think I will leave commenting on the accounts to those qualified to do so, so the next debate is does CIMA count ?

 

[Hotman]

Fair call...

I think I will leave commenting on the accounts to those qualified to do so, so the next debate is does CIMA count ?

Not now they've left the CCAB, so no better than AAT or any other mickey mouse qualification :whistling:

 

[Rusty Shackleford]

Fair call...

I think I will leave commenting on the accounts to those qualified to do so, so the next debate is does CIMA count ?

ACA from Big 4 or nothing.

 

[Tangled up in Blue]

ACA from Big 4 or nothing.

Also true for a BA(Hons)Politics Degree presumably?:winking:

 

[Rusty Shackleford]

Also true for a BA(Hons)Politics Degree presumably?:winking:

Nothing wrong with that if it's from a decent University, but hardly qualifies you to be signing off on some accounts. Or are you just repeating (again) that you have a degree in Politics, because we know already Barnaby.

 

[Tangled up in Blue]

Nothing wrong with that if it's from a decent University, but hardly qualifies you to be signing off on some accounts. Or are you just repeating (again) that you have a degree in Politics, because we know already Barnaby.

No.Just that I know quite a few accountants in the UK but I have no idea where they got their qualifications from.

 

[Hotman]

Also true for a BA(Hons)Politics Degree presumably?:winking:

Not worth a ****