Kedros Formations

RebekahR

Anyone heard of these guys?

Sign up and become director of a company for £75 for one month then it gets sold on?!

I just can't get my head round this one and it really seems too good to be true ...

tykesi

RebekahR wrote: »

and it really seems too good to be true ...

And you know what they say when that's the case?

Goodbye £75

MissPop

RebekahR wrote: »

Anyone heard of these guys?

Sign up and become director of a company for £75 for one month then it gets sold on?!

I just can't get my head round this one and it really seems too good to be true ...

So a pyramid scheme then, yeah?

RebekahR

That's not the big that scares me tbh! The bit that scares me is that you own some company that then gets sold to someone else. What if they get into debt etc etc can't they come back at you? I just can't see in any way how it could be legit and risk free. It's just mad!

djdandew

RebekahR wrote: »

Anyone heard of these guys?

Sign up and become director of a company for £75 for one month then it gets sold on?!

I just can't get my head round this one and it really seems too good to be true ...

Well done Rebekah for starting a thread on this Kedros need exposing and shutting down fast as 100's if not 1000's of stay at home mums are being targeted on faceboolk and signing up

djdandew

This is what i posted on facebook

I was questioning if to post this or not but i will not apoligise for protecting my network and the wider networking community
PLEASE be careful of a company called Kedros Formations. They are paying £75 to people to use thier details to become Nominee Director of a limited company and registering it for VAT and Payee they are claiming then to sell onto someone else and evidence suggests that the new owners are non UK citizens.I have suspected that somthing very dodgy is going on here and at very least is very very risky,

After further research and speaking to a accountant and solicitor this is my understanding of what Kedros Formations are actually doing.

kedros formations are classing themselves as Company formation agents and are paying people £75 to become Nominee Director's
Company formation agents are quite common practice and offer help and support to new business startups from admin duties and accounts.

Howether most formation agents will not offer a Nominee Director service as it is to much of a high risk for both Nominee Director and Real company owner.

Becoming a Nominee Director is not illegal Howether is classed as a grey area and very high risk as it is open to abuse from scammers, tax evaders and money laundering.

Also note UK Law does not recognize the position of Nominee Director. and the person who's name is used to set up the company at companies house is the Director and holds full Director responsibility for that company within the UK
Nominee Director's are often used to hide the real identity of the person in charge and they are classed as a shadow director, again this is not illegal but high risk as the shadow director is often someone outside of the UK.

UK law and companies house do not recognize the position of shadow director and the shadow director would have a hard job to prove he is actually the real company owner, which is where this becomes complicated as it is the director that is listed on companies house that holds sole responsibility in making sure his UK company is being run legally and that all relevant documentation like accounts and tax returns are submitted on time, even if that person resigns as the director they can still be held legally liable for the company and accounts.

This is the service that kedros formations.are providing and anyone that signs up as a director with them can be held accountable for the action from a shadow director even if they resign as director and ecidence sugests that Kedros Formations are leaving the original director as majority shareholder and the preson with control over the company.

Also worth noting that HMRC have a list of authorized Company formation agents That have passed HMRC checks and you will notice that kedros formations are not on the list

I hope you can see why I belive that people should be very Wary about kedros formations and it is not something that should be seen as easy money without understanding all the implications and risks that this could have on you. I would urge anyone that has signed up to seek legal advice from a solicitor and to request a copy of your credit file to make sure no applications have been made so that the overseas director has a UK bank account in your name.

If you have been involved and would like to speak to me in confidence then please feel free to pm me, but please do not defend this company unless you can back it up with legal evidence.
https://www.gov.uk/…/company-formation-agents-and-secretari…
Discussion thread about Kedros http://www.quatloos.com/Q-Forum/viewtopic.php?f=52&t=11257

djdandew

And some reserch reveals

Kedros Formations What You Need To Know!

Kedros Formations was setup on 6 January 2016 by Annabel McLaughlin who remained the director until Sep 2016 at which point Joe Butterworth took over as director.

Annabel McLaughlin is also listed as director/Secretary for several other businesses owned by Gary Butterworth along with michael mclaughlin and Ukpa Limited that was setup by Melissa Lianne Woods and is co owned by Annabel McLaughlin,

Gary Butterworth who is listed as living in the UK for some of his companies and the Philippines for others owned 2 companies and 1 umbrella company that have Ukpa Limited as Secretary, a 16 month Investigation was launched into these companies and resulted in 2 being forces to close down for Tax Avoidance read more here

http://www.lancashiretelegraph.co.uk/news/11676927.East_Lancashire_firms_told_to_close_over_tax_avoidance/

http://www.recruiter.co.uk/news/2014/12/zeva-businesses-apus-and-vela-deemed-not-fit-and-proper-by-gla-will-cease-trading/

There is more people i can link back to Kedros but i don't think i need to to be honest I have seen enough that if you follow the trail all theses companies are intertwined in a web of a thinly disguised network of people leading back to Gary Butterworth. I will be submitting a report to action fraud, trading standard's and hmrc. Looks like work from home mums are being exploited don't you think? (Please Note The Above Information Is All In The Public Domain)

DevilsRainMan

I also noticed on the website there is a very risky security flaw, I registered with a link that I found to be hidden and I can now see other peoples Driving Licence/Passports and other documents.

As this registration link is hidden and a really big security risk I will not post the link here.

So I am now classed as a admin on the website for Kedros, I am wondering who could I report this to?

djdandew

DevilsRainMan wrote: »

I also noticed on the website there is a very risky security flaw, I registered with a link that I found to be hidden and I can now see other peoples Driving Licence/Passports and other documents.

As this registration link is hidden and a really big security risk I will not post the link here.

So I am now classed as a admin on the website for Kedros, I am wondering who could I report this to?

Wow that is not good I will try and replicate that so that i can warn the support group i am running

DevilsRainMan

djdandew wrote: »

Wow that is not good I will try and replicate that so that i can warn the support group i am running

Have you got a group for this Support Group that I may be allowed access

djdandew

DevilsRainMan wrote: »

Have you got a group for this Support Group that I may be allowed access

Yeah do a search on facebook for Kedros Formations Help Group