Printing and Allied Industries: suppliers and customers ‘spooked’ as YM Group blame Companies House for delays to publishing their accounts; plus a list of who has gone bust recently

Printing and Allied Industries: suppliers and customers ‘spooked’ as YM Group blame Companies House for delays to publishing their accounts; plus a list of who has gone bust recently

Print Week’s Jo Francis has reported on the YM Group and the reason why their accounts are overdue. She wrote: “The £117.6m turnover business was due to file its accounts for the financial year ending 31 May 2020 by the end of May 2021, having used the filing extension granted to all businesses because of the Covid-19 pandemic. The accounts have been flagged as overdue at Companies House since early last month.”

It can be a serious offence if the filing of accounts is deliberate with fines running to thousands of pounds depending on how late they are. It is a criminal offence if a firm fails to file accounts with Companies House and directors or LLP designated members could be personally fined in the criminal courts.

Companies House states on their website: “Failing to pay your late filing penalty can result in enforcement proceedings. Any criminal proceedings for not filing confirmation statements, annual returns or accounts is separate from (and in addition to) any late filing penalties issued by Companies House against the company. There’s no penalty for filing your confirmation statements or annual returns late - but the registrar could take steps to strike off your company.”

Francis wrote: “Filings made online at Companies House usually appear within 24 hours. If the accounts were filed on paper it can take up to a week to process and sometimes longer at peak times. The late filing has caused the business issues, with suppliers and customers questioning YM’s financial position.”

She added: “An industry source commented: ‘People are very spooked that they haven’t put their accounts in.’”

A year ago the print outfit made large scale redundancies as the slump in newspaper and magazine sales speeded up as the first lockdowns took effect. Concerns have been raised as the company filed accounts for the 2018-2019 financial year per-tax losses were over £6 million. Print Week also reported YM were in the running for the Associated Newspaper contract which is currently up for grabs.

Meanwhile more printing firms and those related and allied to the trade continue to hit the buffers.


Runners and Riders

Below is a collated list taken from the Government’s London Gazette of allied businesses who are experiencing problems in the last few weeks.

Administrators Meetings Para 51
Monument Paper Bag Company Limited (The)    00481099
Creditors’ Voluntary Liquidation Deemed in Consent Meetings
Premium Brand Management Limited    07252881
Ipex Communications Limited    12109835
Liquidators Appointed
Clarendon Press Gloucestershire Limited    05144567
Crawford Shopfitters Limited    11217755
Devon Paper Bedding Limited    08858005
Doublesix Digital Publishing Limited    06429398
Kedoku Limited    09945999
Samantha Maria Limited    09226756
SK Publications Limited    034988366
Reevo Media LIMITED    11378857
RPW Design Limited    09073948
The Branding Team Limited    06594483
The Office Product Network Limited    06904772
The Shopfittings Store London Limited    11211206
TLS Marketing Limited    12341983
Members Voluntary Liquidations
Buzzword Media Limited    09072793
CJ Design Consultancy Limited    08351069
DQH Design Limited    08242731
Expression Marketing Limited    08141812
Griffin Design Consultancy Limited    07600568
Larkmoor Advisory Limited    11390206
Smudge Media Limited    10251647
Tech & Media Group Limited    10414860
Petitions to Wind Up
Aequitas Packing (UK) Limited    08913537
SGK Interiors Limited    09450679

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