GMB ask Barking and Dagenham auditors why delay arose
GMB call on auditor KPMG to clarify why accounts for Be First Regeneration Ltd are late as fears grow about losses in the accounts for March 2018
There is concerns that Be First Regeneration Ltd are funded by taxpayers and council taxpayers and that it will show a loss of £130,000 in the accounts for the period to end March 2018, says GMB London
GMB, the union for staff at Barking and Dagenham Council, has written to auditors KPMG asking for clarification as to why the accounts for BeFirst Regeneration Ltd for March 2018 are late in being filed at Companies House as required by law.
This is amid concerns that Be First Regeneration Ltd will show a loss of taxpayers and council taxpayers funds in the accounts for March 2018.
Last month GMB called on Barking and Dagenham Council, who 100% own Be First Regeneration Ltd, on why the company faced the first step to being struck off the register for failing to file accounts in November last year as required by law. The council told the media that the delay arose in completing their audit of the yet unpublished accounts. [See notes to editors for the GMB press release on this.]
Separately Barking and Dagenham council and councillors have faced calls to call in the plans of the council owned Be First Regeneration Ltd on account of the very low proportion of genuinely social housing in the 9,700 homes planned by 2023. [See two separate GMB press releases on this.]
Warren Kenny, GMB London Regional Secretary says in the letter to KPMG:
Dear Mr Thomas
Audit of accounts: Be First Regeneration Ltd (Registration No: 10635656)
We understand from Companies House that the first set of annual accounts for Be First (Regeneration) Ltd are now long overdue. Furthermore, we also understand, from our enquiries to London Borough of Barking & Dagenham (LBBD) that this delay has been caused by KPMG undertaking an audit of the company.
As I am sure you will appreciate, given its ownership and legal status, the failure of Be First Regeneration Ltd to comply with its legal obligations is clearly a matter of public interest and, as a Council owned company, Be First Regeneration Ltd is subject to the same rules of scrutiny and transparency as any other publicly owned body.
There are concerns that Be First Regeneration Ltd are funded by taxpayers and council taxpayers and that it will show a loss of £130,000 in the accounts for the period to end March 2018.
We would be grateful therefore if you could confirm that the failure of Be First Regeneration Ltd to submit annual accounts to Companies House is in fact due to the audit being undertaken by KPMG. We would also be grateful for an explanation of the cause of the delay in KPMG completing its audit.
Our work within the local community has highlighted that LBBD residents are extremely concerned about the failure of Be First Regeneration Ltd to comply with its legal duties and that they would welcome a full and transparent account of the current situation and cause of these delays.
Contact: Gavin Davies 07930 983376 or Tony Warr 07710 631336 or GMB London Press Office 0758 3039451
Notes to Editors
Links to the previous three press releases on this.
Previous GMB Press Releases
1] 16% social housing in Barking and Dagenham council not good enough
2] GMB slam Barking and Dagenham Council for approving tower block development with no social housing
3] GMB call on Barking and Dagenham Council to explain Be First (Regeneration) Ltd’s failure to file accounts
4] GMB support pickets against auction of social housing