Tomato Energy (Electric Only Supplier) - Too Good To Be True ?

lohr500

matt_drummer said:

Senapt Limited has never needed to file audited accounts and never has by the looks of it. None of the filed accounts were audited.

There is no requirement to file accounts when you plan to have the company struck off.

It doesn't need to file audited accounts in any case unless something has changed, it is not big enough or the type of company that requires an audit.

Are these 2023 reports something else? They were independently audited by Deloitte's 

https://find-and-update.company-information.service.gov.uk/company/10508789/filing-history/MzQ3NTk0ODIzOGFkaXF6a2N4/document?format=pdf&download=0

masonic

matt_drummer said:

Senapt Limited has never needed to file audited accounts and never has by the looks of it. None of the filed accounts were audited.

There is no requirement to file accounts when you plan to have the company struck off.

It doesn't need to file audited accounts in any case unless something has changed, it is not big enough or the type of company that requires an audit.

In 2023 they had a turnover of £66m and 72 employees. According to https://www.gov.uk/audit-exemptions-for-private-limited-companies that puts them above the audit exemption limit.

Is it likely they'd have shrunk as Tomato grew in 2024 and 2025?

matt_drummer

lohr500 said:

matt_drummer said:

Senapt Limited has never needed to file audited accounts and never has by the looks of it. None of the filed accounts were audited.

There is no requirement to file accounts when you plan to have the company struck off.

It doesn't need to file audited accounts in any case unless something has changed, it is not big enough or the type of company that requires an audit.

Are these 2023 reports something else? They were independently audited by Deloitte's 

https://find-and-update.company-information.service.gov.uk/company/10508789/filing-history/MzQ3NTk0ODIzOGFkaXF6a2N4/document?format=pdf&download=0

I missed those, sorry.

In my defence, I am at work.

They are the only ones that were audited tough, it was never big enough before.

They still don't need to file accounts.

Fines only come when you actually file the accounts.

Accounts or financial information may be required by HMRC but it doesn't look like any further accounts will be submitted as the company will not survive.

masonic

matt_drummer said:

Accounts or financial information may be required by HMRC but it doesn't look like any further accounts will be submitted as the company will not survive.

Perhaps that is the "not good" to which MWT was referring.

I think you are probably right that this signifies the parent company is also throwing in the towel.

MWT

masonic said:

matt_drummer said:

Accounts or financial information may be required by HMRC but it doesn't look like any further accounts will be submitted as the company will not survive.

Perhaps that is the "not good" to which MWT was referring.

I think you are probably right that this signifies the parent company is also throwing in the towel.

Exactly, just for clarity:

In August this year Senapt Limited filed their audited group accounts, covering about 9 companies if I recall correctly.

We will see the reasons given by the auditors in due course, but it seems likely they should have been needed for 2024 filings at least, but we will see soon enough...

matt_drummer

MWT said:

masonic said:

matt_drummer said:

Accounts or financial information may be required by HMRC but it doesn't look like any further accounts will be submitted as the company will not survive.

Perhaps that is the "not good" to which MWT was referring.

I think you are probably right that this signifies the parent company is also throwing in the towel.

Exactly, just for clarity:

In August this year Senapt Limited filed their audited group accounts, covering about 9 companies if I recall correctly.

We will see the reasons given by the auditors in due course, but it seems likely they should have been needed for 2024 filings at least, but we will see soon enough...

They do not need to submit accounts if `they are done'

They don't even need to if they are not.

Why spend money producing accounts you don't need?

It's over, which I think you know.

There will be no reasons for the resignation. It's just a form giving their name and the date they cease to act.

It's not like resigning from a job and setting out what you are unhappy about.

They just no longer act for their client.

They were doomed from the start.

Many factors sealed their fate but the 'icing on the cake' are the compensation payments.

Customers not happy with cheap energy but feel the need to punish them too.

Every man for himself as usual.

matt_drummer

Chrysalis said:

I have told Ofgem they are complicit as a sort of legal threat after I got a reply that even I thought they wouldnt have the balls to send, although I am not sure if its possible to take legal action against a regulator.

So I emailed Ofgem informing them I was in the process of using the ombudsman to get my £80 fine which I have the right to under their own late final bill rules.  Pretty much told them their rules are a failure, inadequate, they should police themselves, and asked them to send a reply on when they plan to consult on changes to the process, to stop people like me losing their compensation.

Got a reply telling me how to use the ombudsman, how to complain to the supplier, no recognition that the supplier is in a state of winding up, and no recognition of the points I made in the email including that I already had made a complaint and already started the ombudsman process, they really are in their own little world and just refuse to acknowledge systemic problems in the system they reside over.

Here's a good example, picked only because it is one I remember.

My £80 fine.

Well, I doubt Tomato made £80 from that customer.

There's no understanding, no chance for them to find their feet, just a disgruntled customer after money that although they are entitled to under the rules, the supplier is just punished.

Things like this seal their fate, they are doomed before they start unless they are perfect from day one.

In the end, individuals benefit but as a whole, we lose.

A sense of entitlement just because somebody makes a mistake, like we all do, but now it has a cost.