Freehold owned by Company, Leaseholders own Company
A micro company that I am a one third shareholder of has filed accounts showing a deficit on P & L of £2,571. Previous period deficit was £613. The note shows:,Balance at 1 April 2009 £(1,098), Loss for the period £(754), Movement during the period £(719), Balance at 31 December 2009 £(2,571) Yes Opening balance is not what is on face of Balance Sheet I have challenged these figures (as well as others) as not being compliant with FRSSE.The response was “We can provide you with a more detailed breakdown of this figure if you would like it. Potentially this extra detail can be added to the published accounts to make it explicit but this seems pointless as the accounts have been filed and accepted by Companies House and only affect yourself and the two Directors who are happy with the accounts.” The Company owns the freehold of a house that has been converted into flats. Each leaseholder owns one share. From 1983 to 2007 the company made no surplus or deficit. Since then the current Directors (subsequent leaseholders) have incurred expenses that they are aware cannot be paid. I assume that the current creditors are the Directors who have paid for these costs and charged them to the Company. The only asset is the freehold. This is likely to continue. Any suggestions as to what I can do.