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Post by mogzi on Oct 20, 2014 21:47:21 GMT
Not sure what I am allowed to say on here but I have just had a Creditsafe alert through for a P2P platform that I am monitoring through my business subscription with Creditsafe. I follow most platforms and businesses I deal with and get regular emails when their ratings etc change.
This particular platform has had it's rating scrapped due to what looks like late filing of accounts.
Rather worrying tbh that they can't keep their own house in order when they are dealing with hard earned client cash.
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Post by Deleted on Oct 20, 2014 22:00:44 GMT
Throw us a clue please! The worst can happen is it gets moderated. Thanks for flagging it! We're all in this together.
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mikes1531
Member of DD Central
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Post by mikes1531 on Oct 20, 2014 22:02:34 GMT
Not sure what I am allowed to say on here but I have just had a Creditsafe alert through for a P2P platform that I am monitoring through my business subscription with Creditsafe. I follow most platforms and businesses I deal with and get regular emails when their ratings etc change. This particular platform has had it's rating scrapped due to what looks like late filing of accounts. Rather worrying tbh that they can't keep their own house in order when they are dealing with hard earned client cash. Is the late filing of the accounts public info available from Companies House? If so, then that is a fact that should be reportable here along with the name of the platform involved. As an investor in a number of platforms, I'd be most interested to know which one is involved.
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Post by mrclondon on Oct 20, 2014 22:02:47 GMT
Not sure what I am allowed to say on here but I have just had a Creditsafe alert through for a P2P platform that I am monitoring through my business subscription with Creditsafe. I follow most platforms and businesses I deal with and get regular emails when their ratings etc change. This particular platform has had it's rating scrapped due to what looks like late filing of accounts. Rather worrying tbh that they can't keep their own house in order when they are dealing with hard earned client cash. Thanks for the heads up, and as you say concerning because they should know the impact on credit rating of late (or even almost late) filing. Probably worth an email to the platform with a link to this thread saying that its likely someone will out them before the weekend, do they wish to make a pre-emptive comment. [or PM me the details and I'll do so on your behalf if you prefer].
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Post by oldnick on Oct 20, 2014 22:02:56 GMT
The mods are considering the matter so hold your horses.
Cross posted with mrclondon.
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Post by mrclondon on Oct 20, 2014 22:53:13 GMT
Its worth noting that at least one platform is currently beyond the 1 year + 9 months of the last filed accounts, but in this instance they have filed a "Change of Accounting Reference Date" with companies house, so the deadline for filing has been extended to be 9 months after the new year end date. If this is the platform mogzi has been alerted about, it seems unfortunate that this credit rating agency has penalised a year end extension (possibly to match other group companies) so severely.
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Post by yorkshireman on Oct 20, 2014 22:55:56 GMT
(possibly to match other group companies) Is that a deliberate clue?
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Post by mogzi on Oct 20, 2014 22:57:56 GMT
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Post by mrclondon on Oct 20, 2014 23:15:42 GMT
For clarity, the platform referred to by missmogzi has NOT filed a "Change of Accounting Reference Date" with companies house, and is now several weeks late filing their accounts.
EDIT: See my later post with regard to the filing date
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mikes1531
Member of DD Central
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Post by mikes1531 on Oct 21, 2014 1:37:06 GMT
For clarity, the platform referred to by missmogzi has NOT filed a "Change of Accounting Reference Date" with companies house, and is now several weeks late filing their accounts.
I don't suppose it's very likely, but do Companies House ever get significantly behind in updating their records for documents received? Such that something that appears to be missing right now might appear tomorrow backdated to the actual date of receipt which could have been weeks ago?
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Post by elljay on Oct 21, 2014 6:14:36 GMT
No clues until we've had time to contact the platform and given them a chance to comment please. Thanks.
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bugs4me
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Post by bugs4me on Oct 21, 2014 7:19:49 GMT
For clarity, the platform referred to by missmogzi has NOT filed a "Change of Accounting Reference Date" with companies house, and is now several weeks late filing their accounts. I don't suppose it's very likely, but do Companies House ever get significantly behind in updating their records for documents received? Such that something that appears to be missing right now might appear tomorrow backdated to the actual date of receipt which could have been weeks ago? Not likely in my experience as most, if not all companies, do not want to be accused of late filing. We'll just have to wait and see as there may just be a plausible reason.
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Post by Come_on_Grandad on Oct 21, 2014 9:12:46 GMT
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Oct 21, 2014 9:45:43 GMT
Is there a public link to post here to allow us to look further if moderators feel direct naming of the platform may not be appropriate? As some who are more knowledgeable on these matters have indicated, companies house info is in the public domain
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Steerpike
Member of DD Central
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Post by Steerpike on Oct 21, 2014 10:47:22 GMT
I think I identified this company using my free Duedil account.
The sum I have invested here is sufficient to cause significant puckering.
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