Palace confident club will not be dissolved despite overdue accounts
Companies House has given Palace two months to file the accounts and issued an ‘active proposal to strike off’ CPFC 2010 Ltd if they are not.
Crystal Palace are confident the club will not be dissolved after Companies House gave them two months to file their overdue accounts.
The accounts of the company which owns Palace, CPFC 2010 Ltd, for the 12 months until June 30, 2017 remain outstanding. They were due by March 31 and no explanation for the delay has been provided.
Companies House is seeking to ensure compliance and issued a gazette notice on Tuesday, giving Palace two months to file the accounts.
The Companies House website, which posts accounting details, shows under ‘Company Status’ an ‘active proposal to strike off’ CPFC 2010 Ltd, which is registered at Palace’s Selhurst Park home.
However, any threat of being wound up – a potential consequence of late filing – is a “technicality” which Palace expect to overcome, Press Association Sport understands.
Palace expect the matter to be resolved and the accounts to be published by Companies House in the next few days.
The draft accounts have already been presented to the Premier League, according to a source close to the club.
The accounts are expected to show the pay-offs levied to Alan Pardew and Sam Allardyce, who left the club in December 2016 and May 2017, respectively.
All limited companies must, by law, file accounts to Companies House within nine months of the end of their designated financial year.
Companies House said in a statement: “Every company is required to file their accounts annually, and a penalty is applied for late filed accounts.
“If they fail to do so, we have an active pursuit process to secure the filing of the overdue documents.
“Our main aim is to secure compliance and to bring filing records up to date.
“If we’re unable to achieve this, we will take appropriate action.”
Palace have missed the deadline by more than two months and face a fine of £375 if they file by the end of June.
Should there be a further delay the fine will double to £750, regulations on the Companies House website show.
Palace are owned by chairman Steve Parish, plus Joshua Harris and David Blitzer, the US investors who took a large stake in the club in December 2015.