Luton Borough Council's housing company in hot water after failing to file accounts
Luton Borough Council's flagship development company has landed in hot water after failing to file its accounts with Companies House.
Foxhall Homes Ltd is behind the majority of the council's own developments, including recently approved plans for 60 new homes on Wandon Park.
The company has now been issued with a first notice for a compulsory strike-off order in the London Gazette.
The council claims "uncertainties around the pandemic" as well as an "administrative error" were to blame for the company's failure to file its accounts.
A Luton Borough Council spokesman said: "There has been a regrettable delay in finalising Foxhall Homes’ accounts and filing them at Companies House due to uncertainties resulting from the pandemic.
"Due to an administrative error, we had failed to advise Companies House of this delay.
"On behalf of the directors of Foxhall Homes, the council has now written to Companies House, apologising for this and giving assurances that the accounts will be presented shortly, whilst at the same time requesting a short period of deferral of any further action."
Cllr David Franks, leader of the Liberal Democrat opposition group on the council, said: "Seven months after they were due, the council’s housing company accounts have not been filed with Companies House.
"Is this because of incompetence by Labour councillors who control the company? Or are they trying to hide some unwelcome news about the financial affairs of the company?
"Either way, millions of pounds of taxpayers money has been pumped into Foxhall Homes Ltd and those taxpayers are entitled to know what is the financial state of the company they own.
"We are entitled to the answers to three key questions. What is the true financial state of the company? Have the accounts been signed off by the company auditors? Why have they not been filed at Companies House?”
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