Council fails to correct wrong accounts
Last summer, using a Freedom of Information request, The Leveller® obtained full accounts for Elleston Services Limited. The company is a subsidiary of South Somerset District Council (SSDC). It has only filed one set of accounts, to 31 March 2020. And, it will surprise our readers to know, they are wrong.
We pointed this out last summer when the accounts were filed at Companies House. All the numbers in the filed accounts are expressed in £. Which would be fine if it were not for the fact that they should have been in £’000s. This is a pretty embarrassing howler. One which we have pointed out to both SSDC and Companies House. The former have done precisely nothing to put things right. More surprisingly, Companies House have taken no interest either.
Other errors in the accounts include a failure to disclose the ultimate holding company. And a failure to state why the company is a going concern despite showing net liabilities of £29,000.
These days Companies House, the guardian of filed accounts are pretty much happy for any rubbish to be filed. They simply don’t take action. Even when it is pointed out to them. The bottom line appears to be, as long as accounts are filed, accuracy and completeness are someone else’s problem.
Since the accounts were filed, directors Pestell, Cooper and Seal have all resigned. That leaves G N Cole, J Divall and D N Norris. They remain on the hook for filing wrong accounts. And indeed for taking no action when it was pointed out the accounts were wrong.
These three directors may also be liable for late filing penalties. Directors can be fined for not preparing and filing accounts within 9 months of the company year end. The last year end was 31 March 2021 and as of today (5 February) no accounts have been filed.
You can read the full set of accounts for Elleston Services Limited below above the accounts that were filed at Companies House: