Christianson Property Capital was founded in 2014 and offers unregulated bonds paying 10% per annum for ten years. (Or previously offered; it is unclear whether the company is accepting new investment.)
The company has been overdue with its accounts to Companies House since January 2018.
As a result of Christianson’s continued failure to file accounts as legally required, Companies House filed a notice to strike the company off the register on 3 April 2018.
If Christianson continues to fail to file accounts, and nobody makes a valid objection to the striking off, all the assets of Christianson Property Capital Limited will be forfeited to the UK Government. This would include its subsidiaries, Victory House Group Limited, Victory House 1 Limited, Victory House 2 Limited and Victory House 3 Limited.
This naturally will be of serious concern to any investors in Christianson Property Capital. Assuming Christianson was accepting investment in its bonds from 2014, investors have at least 6 years of their investment left to run.
The good news is that Companies House will often suspend a strike-off if creditors object, which they can do by emailing
[email protected] with supporting evidence. However, if Christianson continues to fail to file accounts, the strike-off process will likely be resumed at a later date. Christianson’s directors also risk a criminal prosecution.
Update 18/04/2018: Christianson Property Capital Limited finally filed accounts on 17 April, and the strike-off has been suspended.
The position has changed. Micro accounts filed (17 April 18) and strike off discontinued (11 April 18). However, the micro accounts and last years accounts to April 2016 don’t match imho. I can’t make head nor tail of it. What happened to the £6.9m current assets in last years accounts?
Thanks for the tip Stephen.
It’s not uncommon for a company to revise previous figures in its accounts, but that said, to go from £6.9 million current assets as at 30 April 2016 according to the 2016 accounts, and then change this to £4.3 million according to the 2017 accounts, is a significant revision.
A note in the 2016 accounts (which were more detailed) suggests that the current assets consisted almost entirely of “amounts owed to group undertakings” (I assume they meant by). Not sure how you can manage to get the amount your own group businesses owe each other quite so wrong.
As the accounts are micro-entity and don’t require audit, Christianson has no legal obligation to provide anyone with an explanation.