Companies House issued 'strike-off' deadline for Swindon Town company

A compulsory strike-off notice was given to Seebeck 87 Limited, which holds all shares in the football club and owns half the County Ground stadium.

Companies House has not confirmed why the First Gazette notice was issued on August 29.

But Seebeck 87 has not filed its accounts for a while and the notice is a typical action after nine months of not filing them.

It means the company has two months to do so or potentially face being struck off as a business.

In response, owner Clem Morfuni said the accounts had just been signed off this week and was 'likely just an oversight'.

Strike-off notices for late accounts do often happen in businesses, and it is unlikely the company will be struck off at the end of it as Mr Morfuni, as director, can ask for a suspension of the strike-off or resolve it by filing the accounts.

In theory, a struck-off company could have all its assets seized by the Crown, but in practice, it is more likely that it would undergo a formal process of liquidation.

Seebeck 87 Limited accounts for the period up to May 31, 2022, were supposed to be filed by February 28, 2023. Companies House's deadline is Tuesday, October 24.

STFC owner Clem Morfuni is the sole director of Seebeck 87 Limited, which falls within a complicated ownership structure.

Seebeck 87 is owned wholly by Swinton Reds 20, which itself is owned by Axis Football Investments LTD and two women who have a total of 22 per cent share ownership.

All of these companies are directed by Clem Morfuni and each one (with the exception of Swinton Reds 20) is owned entirely by the company above it.

Mr Morfuni addressed the issue during a recent Q&A on Wednesday, September 21, where he said "The accounts have been done because I signed them off last night.

"I don't believe that Seebeck does own STFC but I'd have to check, but the accounts have been done, I signed them off last night, probably is just an oversight."

In a statement provided on Friday, September 22, a spokesperson for Swindon Town Football Club added: "We’ve acknowledged that the files were missed by the nine-month filing deadline, this is an oversight, and the files have all been signed off and sent back to the accountants for them to file with Companies House today, which hopefully they should do today."

Compulsory Strike Off notice for Seebeck 87 Limited (Image: Companies House)

Shortly after Mr Morfuni took over Swindon Town Football Club, he committed to a Memorandum of Understanding with the supporter's trust, and part of that was a commitment to 'File full (as opposed to abbreviated) annual accounts on time.'

A TrustSTFC spokesperson said: “The Trust believes it is vital that the club and its holding companies make all statutory filings on time.

"The club has confirmed that it will be filing Seebeck’s accounts shortly and we understand that this will lead to the withdrawal of the strike-off proposal.”