Hi all, this isn’t a strictly cooperative q but I thought you friendly people might know. We are having some accountancy delays (mainly due to sickness on our part and accountants). We technically have to have an AGM more often than every 15 months, but it looks like we aren’t gonna be able to do this because of accountanct delays. Whe are the implications/sanctions for not having an AGM on time, if any?
If you miss the deadline for filing accounts you will be fined. I would push the accountants if I were you.
Nathan’s right that you accounts need to be done by the end of your financial year otherwise you will be fined
But in terms of the AGM it’s a bit looser. If I’ve got this correct, if you don’t have your AGM within 15 months someone could report you to your registered body, FCA if you’re a coop or Community benefit society etc. The could sanction you if they thought you were breaking your rules. But if you communicate to your membership why the AGM is delayed then I think you’d be fine.
Its not advisable, but I’ve come across a few organisations that haven’t had AGMs for multiple years with no repercussions
Deadline for accounts is 7 months after year end for Societies, 9 months for Companies. Don’t forget Corp Tax returns too. Again, speak to your accountant
Blooming accountants!
Get an extension, they are usually default 3 months and automatically granted within 15 minutes of filling in the form
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