Monday, 14 November 2016

Dine In Collapse a great example of the dreadful mess at HMRC

Dine In liquidation shows filed accounts were inaccurate

As yet another liquidation following funding on Crowdcube, draws to an unsatifactory conclusion - it has been stated that the accounts filed by the directors of Dine In were inaccurate. 

Baker Tilley LLP's final report to creditors shows that filed accounts had missed off shareholder funds - thereby presumably making the filed balance sheet as worthwhile as a Trump tax return. As usual nothing will be done about this - its fine apparently to file incorrect accounts at CH. We wrote about this here

What's more, this liquidation has resulted in the director being able to purchase the 'code' that the company had invested in, for just £12k. According to the report this is a fair price given it is midway between expert's figure of £7k to £35k. You do the math!

So anyway, now we have caste iron proof of what we have been saying since we started - you cannot rely on any information at CH. It's a mess that needs sorting. 

1 comment:

  1. The trouble with 'app' companies is that the 'app' itself really isn't worth much.
    It is the network that is in place with suppliers and the number of people using the app.

    I think this is called intangibles or goodwill
    That is hard to judge.

    So 12k may well be overpaying for the app.