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Wi-fi firm's accounts in soon
9:40am Monday 15th October 2012 in News
THE accounts for the troubled firm Digital City UK, which failed to roll-out wi-fi internet access in Swindon, are expected to be submitted by the end of the month.
Companies House, the official register of UK firms, started the process to strike off the company last August because it had breached Government rules by not filing its 2010 accounts by the May deadline. This was suspended following objections from a Government department and a third party, which Companies House will not identify.
It later transpired the company did not have enough cash to pay for an accountant to file its accounts. Swindon Council and aQovia, the technical partner and other shareholder, agreed a deal whereby the council pays to file the accounts and the other pays to maintain the Highworth infrastructure. A crunch board meeting was held recently between the firm’s remaining directors, Coun Garry Perkins, Swindon Council’s cabinet member for regeneration and culture, and Mustafa Arif, of aQovia. Coun Perkins said: “We had a board meeting on September 14 whereby the final books were agreed except for aQovia wanted one or two modifications. They wanted to modify some of the figures and wording before it went to Companies House.
“What was said at the time was I gave them until the end of October to place the figures and the accounts with Companies House. “That’s how it was left, so I anticipate it being no later than the end of October.”
Coun Perkins added that the decision about the future of the firm would be made after the accounts are filed, and depended partly on what value aQovia saw in the company.