Companies House

Yeah, well, let's face it.

So first of all, what's been announced is the filing of profit and loss accounts to Companies House, which we got told earlier this year, they aren't going to postpone it, but they are going to allow you to opt out of it.

Well, they've now postponed it indefinitely.

No dates.

I don't know where they've got that number from, but we're still creating these accounts.

They've not turned around and said, you don't need to do a profit and loss anymore, guys.

You just don't need to file it to Companies House, which you haven't had to do anyway up until next year.

Yeah, it's more spin and marketing than it is anything actually useful.

this to be, you know, nailed by now and a matter of public record.

And, you know, my business team that I work with in my own stuff, you know, I get companies house alerts on an hourly basis on various competitors and people I'm watching.

One of them is West Ham because I want to know when this new shareholding arrangement is legal.

And I want to know that.

He can get someone else to do it.

But nobody in the club is communicating with a fan base at the moment.

no um i think actions are going to be the first thing so at the moment until unless and until those uh you know the shareholding issues are registered companies house and lockdown uh we won't hear anything from anybody now you know where are we now in november next week so this should all be have been done and dusted some time ago Let's be patient a little bit more, but I can tell you now that we can't just keep waiting, hoping that this 46% is going to be registered at the company's house.

Look, as long as that's sorted out, I don't mind.

Because if they don't understand it, they will send it to their lawyer or their accountant who does understand this.

And if it's not done properly and in the right order, if your limited company number is not in there correctly, if you aren't on Companies House as a company already...

That accountant straight away will go, or the lawyer, no, don't touch them.

They don't know what they're doing.

Not quite.

HMRC and Companies House look at dormancy in different ways.

HMRC is mostly interested in whether the company is still trading or receiving taxable income.

Companies House, however, focuses on whether significant accounting transactions are taking place.

And that's an important distinction.

A company can stop trading but still create obligations if transactions continue.

Obviously weigh that up against the interest that you're going to lose out.

Now small detail but probably big consequences.

and that the the bosses admit challenging macroeconomic environment has had an impact so again it's i mean you get these size and scales of these operations but when times are tough it doesn't half it that bottom line doesn't it

yeah and so car dealer has been pouring over the um The accounts that were recently filed at Companies House and on top of what you've already covered, the slump comes amid rising costs across the business with the account showing that 16.5 million pounds was spent on restructuring activity while also booking impairment charges of 17.4 million pounds.

The year saw Group 1 also announce its decision to ax JLR from its brand partners, which contributed to the firm's dealer network shrinking from 114 sites to 109 overall.

But despite this, turnover actually rose, aided by increased new and used car sales.

While the full details of the red tape cutting measures will not be released until the budget on 28 October, the government offered some insights.

For example, the statement revealed that the requirement for companies to file profit and loss statements with Companies House, which was due to start in April 2028, is being paused in line with the Tell Government Once principle.

It also confirmed that businesses operating as part of a wider national group were set to benefit from reduced reporting requirements by up to £20,000 a year.

Meanwhile, small firms bidding for public contracts will find it simpler thanks to standardised requirements.