On Sept 14th 2010 the UK registered company GPXS Holding Ltd was struck of the register at Companies house. Why did this happen? Quite simply, for over 4 years before this date the company had failed to submit accounts to Companies house as they are required to do under UK law. The result leaves the company in a curious limbo where it and all its assets now technically belong to the Crown (i.e. effectively the UK government) and until the accounts are brought up to date and fees are paid to rescue the company, it will remain in this state.
The question is: how did this happen? More importantly, how was it allowed to happen? The annual submission of accounts to Companies House is a basic tenant of UK law. Under the Companies Act 2006 a company has 9 months from the end of their financial year to submit them and the responsibility to do so falls squarely with the Directors. For GPCS Holding Ltd the Directors are listed as being Jerome Mol and Hans Sporrel. We, who run this website, have asked them many times why they did not submit accounts and we are yet to receive a satisfactory answer.
As things stand though, due to this inaction on the part of Jerome Mol and Hans Sporrel, the shareholders of GPXS Holding have lost everything.
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How the Company Failed