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Economy

Mike Ashley faces fine for late account filing of Mash Holdings

Mash Holdings, a company run by Sports Direct owner Mike Ashley, could be facing a fine as its accounts filings are six months late.

The company’s filings were expected on the 23 July 2018 and have currently still not been submitted according to BBC news. As such the company could be fined £1,500 by Companies House.

For a late filing of up to one month the fine is £150, between one and three months it rises to £375, and from three to six months it’s £750. Accounts more than six months late face a £1,500 fine.

A spokesperson for Companies House told the BBC: “Every company is required to file their accounts annually. If they fail to do so we have an active pursuit process to secure the filing of the overdue documents. Our main aim is to secure compliance and to bring filing records up to date.”

The accounts are for the financial year to April 2017, before Ashley’s takeover of Evans Cycles and later House of Fraser.

Retail Sector has contacted Sports Direct for comment.

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