STOP PRESS Leytonstone’s E11 BID Co. Ltd. threatened with prosecution

As this blog has demonstrated at length, Leytonstone’s E11 BID Co. Ltd. has become a byword for bad management, and a ‘couldn’t care less’ attitude to the norms of polite society.

Slipshod book-keeping, failure to pay taxes, accrual of large debts, late filing of accounts, adverse County Court Judgements, insouciance about explaining how it has spent its money – the E11 BID Co. Ltd.’s litany of oversights and misdemeanours tells its own reprehensible story.

And to add insult to injury, when aggrieved traders, who after all still continue to pick up the bill for this charade, have asked for help from the higher echelons of LBWF, they have been met with indifference.

Nobody has wanted to know.

But interestingly, there are signs that Companies House, at least, is beginning to loose patience.

An inquiry about what action Companies House is contemplating in relation to the E11 BID Co. Ltd.’s failure to submit its 2016-17 accounts by the specified deadline of 31 March 2018 has been answered thus:

‘Thank you for your email dated 20/08/2018 regarding the above company.

[A] Letter sent…on 27/07/2018 notified the directors of our intention to instigate prosecution action against the director [sic] for not [sic] compliance with the companies act. This action was deferred for 28 days from the date of that letter.

The case will shortly be passed to the prosecuting solicitors to instigate court proceeding, this could result in fines of up to £5000 pounds and a possible criminal record,

I should also note that late filing penalties are accruing and will be levied when the accounts are filed’.

According to the government website, Companies House penalties are as follows:

So since the E11 BID Co. Ltd was also late with filing its 2015-16 accounts (and on that occasion was subject to £750 in penalties), it currently owes £750 doubled, i.e. £1,500, a sum that in two months will jump to £3,000.

And when it is recalled that the E11 BID2 Ltd, run by essentially the same crew, has also filed late this year, and as a result currently owes an additional £750, when totalled together that’s quite a lot of money to throw down the drain.

Anyway, there are many who hope that Companies House now proceeds with court proceedings, and the buffoons who are responsible for the debacle of the last few years finally find themselves held to account.