Scary times in Sondek land...
Posted by: Spud Chekker on 03 October 2007
Hey, Just heard from a aquisitions & mergers guy in London that Sondek land have not lodged a tax return in the UK since 2005... Fin yr end coming at the end of this month, have heard given their daily woes with the bank, they may not be in biz after christmas. Not great for the industry.
Posted on: 04 October 2007 by MichaelC
Interesting that. Prompted me to have a little look on Companies House. Accounts are overdue for filing.
COMPANY DETAILS
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Name & Registered Office: Company No.: SC052366
LINN PRODUCTS LIMITED
GLASGOW ROAD, WATERFOOT
EAGLESHAM
GLASGOW
G76 0EQ
Date of Incorporation: 19/02/1973
Country of Origin: United Kingdom
Status: Active
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Company Type: Private Limited Company
Nature Of Business (SIC(03)):
3663 - Other manufacturing
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Accounting Reference Date: 31/10
Last Accounts Made Up To: 31/10/2005 (GROUP)
Next Accounts Due: 31/08/2007 OVERDUE
Last Return Made Up To: 31/07/2007
Next Return Due: 28/08/2008
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Mortgage: Number of Charges: 7 ( 4 outstanding / 3 satisfied / 0 part satisfied )
Last members list: 31/07/2005
I won't analyse matters any further but the filing record of all documents tells a story.
Posted on: 04 October 2007 by JonR
Are they selling enough Keels, I wonder?
Posted on: 05 October 2007 by tonym
Doesn't look too good, but doesn't look terminal yet. I suspect they're going to have to do something radical to bail themselves out though.
I know! Do what Peter at Cymbiosis has been telling them to do for ages and BRING OUT A KEEL FOR THE ARO!!! End of problem!
Posted on: 05 October 2007 by TomK
For a financial ignoramus like myself, would somebody please explain what the significance of this is? Is it normally a sign of real problems when accounts are overdue, or is Ivor playing games? I presume those of you in the financial know can read between the lines here.
Posted on: 05 October 2007 by living in lancs yearning for yorks
Little if anything can be drawn from late filing of accounts - there could be all sorts of reasons and many companies file late.
Posted on: 05 October 2007 by tonym
Agreed when not viewed in isolation, but as a possible symptom of their current difficulties it has some relevance. Most likely is they're working to get the accounts to reflect the most favourable picture for their investors is my guess.
Posted on: 05 October 2007 by JamieWednesday
quote:
Most likely is they're working to get the accounts to reflect the most favourable picture for their investors is my guess
Investors?
Blimey, they're brave.
