Is this company OK financially? I mean the OVERDUE bit.
From Companies House data:
Accounting Reference Date: 30/11 Last Accounts Made Up To: 30/11/2003 (TOTAL EXEMPTION FULL) Next Accounts Due: 30/09/2005 Last Return Made Up To: 14/11/2003 Next Return Due: 12/12/2004 OVERDUE
One of my companies is overdue with filing - but financially we are OK. In fact we are doing quite well - the fines are being promptly paid etc.
To a banker,
this is unacceptable
why should anybody believe and/or trust the management of a firm whose directors fail to meet their legal obligations?
The Co. may well be financially OK, but it is undoubtedly poorly run.
The directors have also committed a criminal offence by being 9 months late in filing - why would you trust them?!
MC
Just to point out that it is the annual return which is late. Most ltd cos do a shuttle return which is a pre-printed bit of paper listing company address, directors etc which you sign and return. I tend to agree with you that that company must be poorly run because this is a simple thing to complete and return and a large fine if you are late.
As for accounts - it often takes a long time to get these done, respond to auditors questions, get the extra paperwork they require and despite having many months to complete it can often be a rush to get these signed off and filed, especially if you are running a busy and vibrant business.
David
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