Never hire a skeleton to do your accounts, they can’t.
Plexus Law, the personal injury firm, has insisted it is in ‘financially sound’ after it emerged its accounts were nearly a year past due.
The firm, which is registered at Companies House as Plexus Legal LLP, employs over 180 solicitors in 11 offices across the north of England. The deadline for filing its accounts for the financial year ended March 31, 2020 expired on March 31, 2021.
Plexus has been even more relaxed with accounts from Plexus Law LLP, the firm’s holding company. They should have been filed by February 19 of last year and are now nearly 11 months late.
Companies House imposes fines on companies that do not file their accounts on time. Last year, Plexus passed the threshold for the maximum penalty of £1,500 imposed on companies that are more than six months late.
More seriously, as any corporate lawyer will advise their client, failure to submit accounts is a criminal offence, which means that Plexus associates could be personally fined in criminal courts.
However, in a statement, the company told RollOnFriday that “we can confirm that our FY20 accounts are signed and will be filed shortly with Companies House.”
Plexus declined to explain why its accounts were so late, but said there was nothing to worry about. Its 2020 results “should show that the business is in good financial health, with a strong balance sheet and cash reserves, and continues to grow in fiscal 21,” the company said.
The optimism is slightly at odds with the wave of layoffs within the company, as revealed by RollOnFriday, but Plexus’ financial success will set him apart from fellow punchers PI Slater and Gordon. Slaters recorded a pre-tax loss of £19.5million for the year ending December 31, 2020, which it blamed on everyone being unable to put each other’s cars on the road back because they were blocked.
Plexus emerged from the wreckage of 2014’s Golden Turd, Parabis, when the biggest company was broken up and sold at a sellout in 2015. Could 2022 be the year Plexus gets the stinky title in its own right? ? It all depends on how its workforce votes.
Everything going well in your office? Take the poll and let RollOnFriday know – results next Friday.