People's Energy - next to go?

Scott787

It seems the Companies Registrar is planning to strike them off the register due to non-filing of statutory accounts.

The company numbers are SC522897 and 09844617.

I'm wondering why my old supplier hasn't closed my account 3 weeks after I moved to PE.

I hope it's not because they're knackered.

System

Scott787 wrote: »

It seems the Companies Registrar is planning to strike them off the register due to non-filing of statutory accounts.

The company numbers are SC522897 and 09844617.

I'm wondering why my old supplier hasn't closed my account 3 weeks after I moved to PE.

I hope it's not because they're knackered.

Hi - welcome to the forum. It might be because your new supplier has to use an industry partner to validate your opening meter readings: a process that usually takes 10 to 14 days. The losing supplier has 6 weeks from the date of actual transfer to raise a Final Bill. I suspect that a lot of them are playing the 6 week rule to the day.

wavelets

Scott787 wrote: »

It seems the Companies Registrar is planning to strike them off the register ....

Where did you get this information from, as the Companies House website does not seem to have any indication of this currently?

HampshireH

I imagine its from this;

https://beta.companieshouse.gov.uk/company/SC522897

But may be wrong.

HampshireH

27 Nov 2018 First Gazette notice for 0compulsory strike-off

This document is being processed and will be available in 5 days.

The above is listed on there under the filing info section.

Scott787

@HampshireH - you're exactly right.

There's no excuse for not filing accounts when they have 9 months to do it.

Companies House get quite brutal if statutory filings are not made on time.

They normally give 2 months notice of dissolution.

PE's creditors will likely know about this too - that will not help matters.

antrobus

Companies House says;

Next accounts made up to 31 December 2017 due by 30 September 2018

So the accounts are late. Hence the First Gazette notice for compulsory strike-off. This is what is commonly known as a kick up the harris.

Curiously enough their website (see the Full Monty) publishes the minutes of their Advisory Board meetings. The minutes for 20 August 2018 state;

Our appointed accountants, Johnston Carmichael, are currently working through our accounts, to be able to post our financial accounts by end of October 2018.

At which point, had I been present at the meeting, I'd have piped up to say something like, 'oi, you stupid twonks, they're due by the end of September, get those ****** accountants to get a ****** move on'.

Major administrative incompetence.

The same minutes also say that;

our hedging strategy and partnership with a large wholesaler, means that we are secure for the winter months, as we have agreed the purchasing price for the energy needed for our customers right into Q2 of 2019.

Which should at least provide some reassurance.

That doesn't guarantee that they won't go pop of course.

wavelets

Thanks everyone, but I only looked at the details of this company mentioned in the OP

“People’s Energy” / “People’s Energy Group” means People’s Energy [Supply] Limited (a company registered in Scotland under Company Number 09844617 whose registered address is Kemp House, 152-160 City Road, London, England, EC1V 2NX)

What does the
THE PEOPLE'S ENERGY COMPANY LIMITED
Company number SC522897
relate to?

System

If I recall, PE's start up was people funded. I wonder if this investment is covered by the Consumer Levy?

wavelets

HampshireH wrote: »

27 Nov 2018 First Gazette notice for 0compulsory strike-off

This document is being processed and will be available in 5 days.

The above is listed on there under the filing info section.

Sorry, but today is only the 25th November, and so yesterday when you this thread was started was only 24th November.

Anyone got a new flux capacitor I can borrow? :rotfl:

wavelets

Hengus wrote: »

If I recall, PE's start up was people funded. I wonder if this investment is covered by the Consumer Levy?

Which Consumer Levy are you referring to?

"Investment" is defined as follows by MSE

What is an investment?



An investment – or investing – is a long way from putting your cash in a bank account where it sits to earn interest. An investment is a gamble: instead of the security of guaranteed returns, you're taking a risk with your money. The hope is that you make a lot more than you put in (a juicy profit), but there's the possibility you end up with less (a nasty loss).

https://www.moneysavingexpert.com/savings/investment-beginners/