Derwent

Ian Thomas used to say if you are officially making money as a promoter then you're not doing it right 😀

If a company doesn’t file their Corporation Tax return, VAT or PAYE return then HMRC actually have the legal authority to issue an assessed/estimated bill for payment based on the average bills of similar sized companies. But this is not HMRC who have closed the company. For them to do so requires them to submit a Winding Up Petition to the High Court and then obtain a Winding Up Order. All of which has to be published in the London Gazette records which are publicly available online. Nothing has been published to that effect. It is the Registrar of Companies who has had the company struck off and so it no longer exists as a legal entity. So anything that the company did that requires legal entity status it is now unable to do - they can’t hold a speedway licence, can’t employ people, can’t be the employer sponsor for work visas etc etc

Accounts filed at Companies House are not what HMRC use for tax purposes. Every company has to file a return called a CT600 directly with HMRC each year to show the calculation of any corporation tax owed. This is because a company can make a profit in its accounts but not owe any tax if they had losses from previous years to offset it.

They don’t necessarily owe anybody any money. The issue is they have not filed accounts since 2022 despite warnings from Companies House, who are a separate organisation to HMRC. Eventually their patience has run out and they have got a court order to close the company down.

He is not listed as being a director of any other active company. This is all a matter of public record.

So it turns out that the company has indeed been dissolved as Bona Vacantia. The warning to the company is now published on Companies House. For those who don’t realise, this means that anything and everything owned by the company is now the property of HM Treasury. This means the stadium, track prep equipment and all other assets have been seized. Any bank accounts will have been frozen as well. This is not an “admin error” no matter what Steve Lawson says. They will have had 3 written warnings from Companies House plus a notification of the court hearing to wind up and strike off the company. They have ignored all of them it seems. Anyone who thinks they can get this resolved quickly is in fantasy land. It’ll take several weeks just to get a preliminary hearing at the High Court to try and reinstate the company never mind a full hearing.

Looking at Companies House and the London Gazette it seems the company was subject to a mandatory winding up by the Registrar of Companies as they hadn’t filed any accounts since 2022. The problem when that happens is that all assets of the company - physical assets, bank accounts, anything with a saleable value - is declared by the court to be “Bona Vacantia” I.e. property with no owner. So legal ownership passes to the Crown (or in other words the government). Bank accounts will be closed and any cash transferred to HM Treasury and physical assets seized for auction. Property can be reclaimed by either going to court and having the company reinstated on the register or providing evidence that any assets seized were owned by someone else.

She had her knockers....

Maybe they’ve worn the wrong suits ?

He was knocked unconscious in his fall on Sunday. He has posted on social media that he has had bad concussion/headaches all week and has absolutely no memory of the meeting at all.

I was at Odsal a couple of weeks ago watching rugby league and the place is in an absolutely terrible state. It is literally falling to pieces with the terracing badly cracked and crumbing. It would cost hundreds of thousands of pounds to bring it up to a condition where you could even think about holding a GP there.

Nope, just the land right next door is. All of the fields to the south and west of the stadium are owned by Kurdi’s company KP Stadium Ltd.

Someone should ask Semore Kurdi if he’s interested. Already owns 2 sports clubs in Newcastle Falcons RU and Newcastle Thunder RL. Owns Kingston Park stadium and 37 acres of land surrounding it so plenty of space for a speedway track.

Matt Ford was on C4 yesterday afternoon doing up his chateau in France.

Yeah I think Tatum was wrong. Although of course transponders don’t necessarily tell you who has finished ahead. It is theoretically possible for a rider to actually be beaten technically (ie his wheel doesn’t touch the line first) but have a quicker time than the other guy in a tight finish and be awarded the placing. It’s possible for someone to be finishing faster than someone else and although his wheel isn’t first to the line his transponder could cross the line first if he’s accelerating quicker.