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BuzzFeed UK insists late accounts will be filed by the end of the year

The online media business is already more than two months late and risks fines unless it files its 2018 financial information soon.

BuzzFeed UK has been told it will be dissolved in two months if it fails to file its accounts with Companies House (BuzzFeed/PA)
BuzzFeed UK has been told it will be dissolved in two months if it fails to file its accounts with Companies House (BuzzFeed/PA)

By Simon Neville, PA City Editor

BuzzFeed UK has said it will file its accounts, which are more than two months overdue, by the end of the year.

The online media organisation was handed a notice from Companies House on Monday warning that it will be dissolved in two months if the financial data is not submitted.

On Monday, BuzzFeed UK said it would file its accounts “soon”, and this was followed on Tuesday by a fuller statement saying this will take place before the end of the year.

A spokeswoman said: “BuzzFeed UK Ltd will be filing our 2018 financials by the end of the year.

“Earlier this quarter we concluded the global audit of BuzzFeed Inc on time with no unusual findings.

“We have great confidence in our global operations and are extremely pleased with the contribution they make to our wider company. This year saw us diversify our revenue, putting us in an even better position than ever.”

Experts have said previously that “First Gazette” notices are not uncommon, but, without a clear reason behind them, they could be a sign of problems.

In 2017 BuzzFeed UK made a pre-tax loss of £1.9 million on turnover of £33.4 million, although the accounts said it continues to be financially supported by its US parent company.

In 2016 it made a pre-tax loss of £3.3 million on revenues of £20.5 million.

PA

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