Home Business NewsTech News #fail! Twitter-owned TweetDeck at risk of being struck off

#fail! Twitter-owned TweetDeck at risk of being struck off

by LLB Editor
14th Jan 13 11:12 am

Twitter’s UK firm Tweetdeck might be forced to close over repeated failures to file financial accounts, Sky News has reported.

Tweetdeck Ltd, a London based start-up acquired by Twitter for £25m in 2011, missed its deadline for filing accounts twice – once in September and once in December.

Both times, the company was fined £375. If accounts aren’t filed immediately, TweetDeck may have to fork out £1,500, face court action and be struck off.

A Companies House spokesperson told Sky News: “This is a non-compliance issue and a compulsory strike-off action has commenced.

“TweetDeck is still yet to file. That means they have 99 days to file up-to-date accounts or face being dissolved and struck-off the register.”

No Tweetdeck accounts were lodged with Companies House since Tweetdeck founder Ian Dodsworth resigned in July, 2011.

According to Twitter UK’s accounts released last week, the company made a £16,500 profit on a total income of £484,723 between June 1 and December 31, 2011.

Maung Aye, corporate solicitor at Mackrell Turner Garrett, told Sky News: “It is particularly important for globally recognised companies to ensure that members of their group comply with any requisite filing deadlines set by the Companies Act 2006 and any other relevant legislation, to the extent it applies to them.

“What can be perceived by the directors as a relatively minor issue such as the late filing of a company’s accounts, can potentially have very serious consequences including the directors of the offending company being prosecuted and ending up with a criminal record and the company being subject to a fine.

“Ultimately, the Registrar of Companies has the power to strike a company off the register if he believes it is no longer in business.”

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