GMB London has called on auditor KPMG to clarify why accounts for Be First Regeneration are late as fears grow about losses in the accounts for March 2018
GMB, the union for staff at Barking and Dagenham Council, has written to auditors KPMG asking for clarification as to why the accounts for Be First Regeneration Ltd for March 2018 are late in being filed at Companies House as required by law.
This is amid concerns that Be First Regeneration Ltd will show a loss of taxpayers and council taxpayers funds in the accounts for March 2018.
Last month GMB called on Barking and Dagenham Council, who 100% own Be First Regeneration Ltd, on why the company faced the first step to being struck off the register for failing to file accounts in November last year as required by law. The council told the media that the delay arose in completing their audit of the yet unpublished accounts.
Separately Barking and Dagenham council and councillors have faced calls to account for the very low proportion of social housing in the 9,700 homes planned by 2023.
Warren Kenny, GMB London Regional Secretary says in the letter to KPMG: “There are concerns that Be First Regeneration Ltd are funded by taxpayers and council taxpayers and that it will show a loss of £130,000 in the accounts for the period to end March 2018.
“We would be grateful therefore if you could confirm that the failure of Be First Regeneration Ltd to submit annual accounts to Companies House is in fact due to the audit being undertaken by KPMG. We would also be grateful for an explanation of the cause of the delay in KPMG completing its audit.”