A TAX lawyer has revealed that Brewdog is over a month late filing its accounts, stating that the error is a “sign of something very wrong”.
Dan Neidle discovered that the Scots booze company and pub chain is currently 43 days late filing its accounts yesterday after an initial search on Companies House.
Brewdog’s latest accounts cover up to December 2022, with accounts covering the period up to December 2023 due.
The Scottish beer firm has far surpassed its deadline for filing its accounts though, which were due on 30 June 2024.
The company is now nearly two months overdue filing their accounts with the Government and could face penalty fees of increasing amounts the longer it fails to file.
Dan has now claimed that the failure to do so is a “sign of something very wrong”, theorising that it could be down to “poor management” or “an audit problem of unknown significance”.
Whilst plenty of other public limited companies (PLC) are guilty of the same thing, Dan claims Brewdog is “the most famous” and has now called for penalties for large companies missing their deadling to be increased.
Brewdog has faced fierce criticism in recent years over a number of incidents, including an open letter from over 100 former employees in 2021 criticising the firm’s treatment of its employees, citing a “culture of fear” that the company created.
Brewdog also faced a backlash earlier this year when it announced that it would no longer pay the “real living wage”.
Dan shared Brewdog’s Companies House page to social media yesterday, writing: “Brewdog is now 43 days late filing its accounts. It’s not alone.
“Why does this matter? Because incorporation is a privilege. Directors and shareholders are protected from liability.
“But there’s a quid pro quo – you have to file accounts and other documents with Companies House. Too many companies take this lightly.
“It’s forgiveable when a small company fails to file its accounts on time. Everyone makes mistakes.
“But for a large business, and particularly a listed business? It’s the sign of something very wrong.
“So, it’s unfair that the penalties are pretty serious for a small company, but irrelevant for a large company. Which is why so many PLCs just ignore the rules.
“Time to increase the penalties for large companies, unless they’ve a really, really good reason for filing late.”
The post has since received over 5,100 likes and more than 105 comments from social media users.
One user said: “If their books are anything like there lager it’s best avoided then, dreadful it is.”
Another added: “They feel a bit like Icarus, flying very close to the sun.”
A third replied: “I can understand why you’re going after them, their beer is terrible.”
Another claimed: “It’s because they are spending beyond their means and trying to find a way to pay taxes.”
A fifth wrote: “Too busy working out ways to pay their staff even less perhaps?”
