John Charcol has admitted it will have to file its latest set of accounts over three months late due to a number of directorate changes.
The firm’s last set of accounts filed at Companies House were for the 14-month period ending December 31, 2005. It has yet to file its latest accounts which were due for submission on October 31, 2007.
Head of communications Drew Wotherspoon says the firm has one outstanding set of accounts due for last year and plans to file in the first week of February. John Charcol put itself up for sale last week with an estimated price tag of £50m after getting expressions of interest.
The firm’s last set of accounts reveal it made a consolidated loss after tax of £4,712,459 for the financial period ending December 31, 2005. Turnover was £17.4m but the firm had to pay out £22m on administrative expenses.
Wotherspoon says: “When John Charcol was sold back from Bradford & Bingley, we found it was quite cost-heavy. We have had 18 months of cost-cutting and quite a few redundancies. We have been driving back business in profit.”