donald
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Post by donald on Oct 8, 2016 10:29:58 GMT
It appears that Lendy Ltd's accounts are overdue at companies house beta.companieshouse.gov.uk/company/08244913 As someone with over £50k invested, this has caused me enough concern to make an account on this forum. Although I suspect there is an innocent explanation (and the company is hopefully not on the verge of bankruptcy and putting off publishing their accounts!), it does make one slightly concerned as to their accounting system and records. There's over ten thousand investors and hundreds of millions invested, their accounting needs to be top notch and certainly submitted on time. If their current accountant is not up to the job, they need a new one. |
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Post by chrisuk on Oct 8, 2016 11:05:03 GMT
I'm not too concerned at the moment although SS should be aware that this sort of thing could affect 'consumer confidence'.
I stand to be corrected but I believe most of our loans are 'separate' to Lendy. I think this means that if Lendy collapsed our loans would continue as normal. We just wouldn't have the opportunity to invest in new loans. Also, our 'credit' is held in a separate bank account and is protected.
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mikes1531
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Post by mikes1531 on Oct 8, 2016 12:28:09 GMT
I stand to be corrected but I believe most of our loans are 'separate' to Lendy. I think this means that if Lendy collapsed our loans would continue as normal. The loans might continue as 'normal' but SS wouldn't be there to act as go-between. AIUI, in order to obtain their P2P licence, platforms are supposed to have a 'disaster plan' in place -- with funding arranged in some way -- so that the loans can continue to be monitored, borrowers chased, and investors repaid as payments come in. But we'll only find out how well these plans have been organised if/when disaster strikes. In the meantime, I'm not sure we can do any more than cross our fingers. PS. Returning to the original topic, has anyone pointed out to savingstream that CH is showing the accounts to be overdue and asked about the actual state of the accounts?
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Post by savingstream on Oct 8, 2016 13:58:59 GMT
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Post by savingstream on Oct 8, 2016 14:00:05 GMT
"Friday, 7th October 2016
The Directors
Lendy Limited,
Dear Sirs,
CONFIRMATION OF FILING OF AUDITED ACCOUNTS
We hereby confirm as Lendy Limited’s statutory auditors that the accounts for the year ended 31st December 2015 have been filed with Companies House.
Companies House has confirmed receipt of the completed audited accounts on the 30th September 2016. They have confirmed that they will correct the company’s record accordingly in due course.
If you require any further information or reassurance please contact us.
Yours faithfully,
Rothmans"
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trevor
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Post by trevor on Oct 8, 2016 15:26:07 GMT
Could we have a summary of the accounts SS?
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Oct 8, 2016 16:08:38 GMT
Could we have a summary of the accounts SS? Now the most profitable platform in a parallel universe as well :-D
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mikes1531
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Post by mikes1531 on Oct 8, 2016 17:09:24 GMT
"Companies House has confirmed receipt of the completed audited accounts on the 30th September 2016." Talk about waiting for the last moment! Perhaps CH just can't keep up with the flood of filings that come in on the popular due dates.
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sam i am
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Post by sam i am on Oct 8, 2016 20:46:43 GMT
It may well be around the end of the year before the accounts are available on the CH website. We provided our company accounts in June and they weren't on the website until mid September.
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Oct 8, 2016 20:55:17 GMT
Great to see that lendy rep can answer inside 4 hours on this forum. Shame its taken 7 days so far, and still no response, to concerns re Hull and rxxxxx exxxx loans sent ON THE PLATFORM contact form.
Sort it out Lendy. Worse than banks performance!
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