London Capital & Finance - Late Accounts Filing Breach for Companies House
So it's the moment of truth for London Capital & Finance. They've failed to publish their long overdue accounts for 2018 that were originally meant to be submitted to Companies House in Oct 2018. They previously used a loophole that they've found to enable them to delay this submission which means the accounts were due yesterday, 17th January 2019.
Some people don't seem to believe some of the facts published about London Capital Finance but this is a matter of public record shown on Companies House. They have not filed their accounts as required - check this link to view details.
If this is correct LCF are now in breach of the Companies Act reporting requirements and will be fined depending how late they file although with the FCA investigating them it may be the least of their worries
If you have any questions about this or any other posts please a comment below this blog
Last year they used the loophole twice to delay publication until Feb 2018 possibly publishing them when there was quite lot of negative publicity for them on Money Saving Expert about it
LCF published an update on their website yesterday that said there was no news. They failed to say that their accounts being due was a significant piece of news for investors/bondholders in finding out how many borrowers they have and importantly if the company is still solvent.
LCF had one of these options to choose to go for:
With the spotlight on them you might expect option 1 but if they feel they have nothing to lose then it looks like they've plumped for option 3. They can no longer delay the date using option 2 as they have missed the deadline.
Some people don't seem to believe some of the facts published about London Capital Finance but this is a matter of public record shown on Companies House. They have not filed their accounts as required - check this link to view details.
If this is correct LCF are now in breach of the Companies Act reporting requirements and will be fined depending how late they file although with the FCA investigating them it may be the least of their worries
If you have any questions about this or any other posts please a comment below this blog
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| Will they or won't they? London Capital & Finance Accounts for 2018 |
LCF published an update on their website yesterday that said there was no news. They failed to say that their accounts being due was a significant piece of news for investors/bondholders in finding out how many borrowers they have and importantly if the company is still solvent.
LCF had one of these options to choose to go for:
- Submit accounts today
- Change accounting date again to give themselves more time
- Breach Companies House regulations by failing to submit accounts
With the spotlight on them you might expect option 1 but if they feel they have nothing to lose then it looks like they've plumped for option 3. They can no longer delay the date using option 2 as they have missed the deadline.
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