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[UPDATE 03.09.25] Can things get even worse for UK plc that is already bust?

 Oh yes. The incompetence of the Regulators - ICAEW, SRA and FCA knows no bounds. And that is not my opinion:  https://taxpolicy.org.uk/2025/09/02/axiom-ince-a-64m-failure-a-4300-penalty/ Do follow the replies to Dan's blog from so many ICAEW "disgusted of Tunbridge Wells" members who forget that ICAEW states it exists to "protect the shiny badge".  And then ask yourselves whether the Department of Trade (or whatever it calls itself these days!) should be axing its staff (  https://www.politico.eu/article/uk-government-trade-department-20-percent-workforce-cut/ ) when it really needs to double the headcount in Cardiff which would be self financing.  ............................................ [UPDATE 03.09.25] I forgot the link to Dan's weekly list of miscreants (PLCs only!) some of whom are FCA authorised. NB Companies House states that fines for late filing can't be raised until accounts are actually filed - you really couldn't make that up. Welco...

And now The Association of Investment Companies is guilty of breaches of The Companies Act ...... no surprise there then.

"DYOR"..............With 12% of their members being VCTs ("Voracious Crooks & Thieves") it should come as no surprise that any entity that appoints Will Fraser-Allen or Patrick Reeve as a Director is incapable of complying with Company Law Compliance - if they can't even get their own VCT investments to comply, why would they get their Association to do so? Lot's more to come....

Yet again...ICAEW confirms its members do not need to comply with Companies Act disclosures

 Received late Friday. https://vctponzi.blogspot.com/2025/08/albion-capital-group-and-howard-kennedy.html All documents available on request.

[UPDATE 3 Aug] Now we have Howard Kennedy llp (in the person of Mrs Nikki Anne Edwards SRA no:396207) today serving notice of deliberate breach of Solicitors Undertakings given by her through Counsel in the face of the Court (aided, abetted, counseled and/or procured by the Directors of Albion Enterprise VCT plc)

The leading case is "Harcus" [ UKSC/2019/0098]  in which I made written appearances in the lower courts, not least because the defunct Harcus Sinclair firm includes the son of a Judge who, together with his colleagues, misused Client Accounts of Harcus Sinclair llp in direct money laundering that the SRA is "still" investigating. And all done to protect Howard Kennedy's gravy train of VCT fees and Solicitors and others who are Directors of the Albion VCTs. "Company Law Compliance" .... the Gift that keeps on giving. Going to be an interesting few weeks as this is "serious **** ". Patrick Reeve FCA of Albion Capital Group llp and then a Director of Albion Enterprise VCT llp, the party before the Court, is the person present in the Courtroom who personally instructed Mrs Edwards at the hearing. His professional qualifications now hang by a thread. ................................................................... [UPDATE 3 AUGUST] Heaven help ...

Company Law Compliance failures lead to exposure of outright fraud and Market Abuse on LSE listed shares

https://albionvct2025agm.blogspot.com/ Using different valuations of the same thing and peddling share sales and buy-backs on LSE Listed companies based on those differences is fraud on shareholders. (see Asil Nadir and Polly Peck, and so many other scandals). Should come as no surprise to anyone familiar with Perfidious Albion and its lying and tax evading Designated Members, Will Fraser-Allen, Patrick Reeve and Vikash Hansrani.

UPDATE 15 JULY [Expletive deleted] ...........

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  UPDATE 15 JULY. Do read yet another corrective filing today. Only 2 more to do.  A nyone else looking at the ARR per employee against the industry stats? Not promising for a double unicorn valuation.  .............................................  Is there anyone at Quantexa who is even half competent at adding up? Certainly not Ed Lascelles the Albion appointed Director. Yet another try at getting things right filed this morning - and this where the Secretary of State has a "controlling" stake and runs Companies House and all Company Investigations.  What hope is there for the UK unless Real rather than Artificial replaces the "Intelligence" at Quantexa and the Department of Business and Trade? Anyone care to write to the SEC and tell them that Richard Seewald, Director of Quantexa, is still lying through his teeth even though he has £gazillions of UK taxpayer money given to him by the Secretary of State?  Well at least they no longer say that the Unp...

[STOP PRESS: 11 JULY: SERIES F SHARES ISSUED FOR £0.001 -yes One penny! ] [FURTHER UPDATE 10 JULY 2025: QUANTEXA ADMITS MAKING FALSE RETURNS TO COMPANIES HOUSE] [UPDATE 9 JULY 2025: NO RESPONSE RECEIVED so now it is down to QUANTEXA to COMPLY WITH THE FORMAL s116 REQUEST or apply to the High Court] Response due from Ed Lascelles of Albion Capital Group llp by 16.00hrs Wednesday 9 July 2025 failing which it leaves the High Court as Quantexa's only option. That will look good in IPO documents.

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STOP PRESS 11 JULY MORE SERIES F SHARES ISSUED : CONFIRMS (?) QUANTEXA ENTERPRISE VALUE AT 50% OR LESS https://find-and-update.company-information.service.gov.uk/company/10045407/filing-history/MzQ3MzMyNDQwN2FkaXF6a2N4/document?format=pdf&download=0 ------------------------------------------------------------------------------ Even new trainees at The Institutes of Chartered Accountants in Scotland, England & Wales should be able to work this one out:  50% overnight devaluation of Quantexa shares- just like Trump's new 50% tariff on Copper  "The Articles of Faith" https://find-and-update.company-information.service.gov.uk/company/10045407/filing-history/MzQ2MTQ1ODIyOWFkaXF6a2N4/document?format=pdf&download=0 DEFINITIONS Series F Exercising Investor has the meaning given in Article 10.21; Series F Investor Majority means, subject to Articles 7.6 and 7.7, the holders of more than 50% of all Series F Preference Shares in issue from time to time; Series F Preferen...

"Today Balham, (prison?) tomorrow...?" Looks as though Quantexa is in really deep mire... perhaps all companies should have to file warrants issued at Companies House at the time they are issued (25th March in this case... see Articles of Association)

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When you have read today's hype.. https://www.thetimes.com/business-money/companies/article/today-balham-tomorrow-the-world-says-south-london-boss-of-ai-unicorn-wjb9nmhhr View.. https://www.youtube.com/watch?v=Wss4dnOFE2E Last financial year ended 31 March 2025 Falling client NRR $120m ARR. Follows consistent pattern of falling year on year growth.  If it looks like a dog, walks like a dog and barks like a dog..... Where this leaves all the Albion VCTs .... heaven only knows. AND LOOK WHAT THE ROYAL MAIL HAS JUST TOLD ME: BAKER MCKENZIE REFUSE TO ACCEPT POST FOR CLIENTS TO WHICH THEY PROVIDE REGISTERED OFFICE SERVICES. Perhaps Vishal Marria should stop eating so many of "..   the most expensive sausage and egg McMuffin you’ll ever eat,.." and try to comply with the laws of the UK. Perhaps Ed Poulton, senior partner of Baker McKenzie in London will provide explanations following my complaint to him.

Perhaps the tide really is turning - MP for Basildon guilty of multiple Company Law Compliance failures and what looks like outright fraud.

  https://www.thetimes.com/uk/politics/article/reform-mp-james-mcmurdock-suspended-after-sunday-times-investigation-ljh7rtprd Automated compliance check by simply looking at the lack of loans on the one set of accounts actually filed and the British Business Bank's records would have picked this up a long time ago. The other is just the usual reliance on Companies House striking off non-filing companies which is the subject of High Court proceedings for declaratory relief to put an end to the Secretary of State's nonsensical position.  What chance prosecution? Probably Nil or they would also have to deal with the fabuously wealthy Beckwith family scams and false accounting highlighted by Bloomberg. Just a shame that no-one prosecuted Nadhim Zahawi and let him ride off into the sunset when compelled to resign for appalling breaches of disclosure obligations. 

[UPDATE 4 JULY] Today's Financial Times "Reform of Companies House to be shelved ...". leaving Perfidious Albion (c/o 1 Benjamin Street London EC2) still run by crooks and fraudsters.

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  https://www.ft.com/content/9d8fbbaa-b7e8-4b0b-bc92-9b7f24caaa3a Wake up QUANTEXA! You have until 4.00pm Friday to tell the truth.  [UPDATE 4 JULY] DEADLINES HAVE PASSED without response ("Silly Billies" as a former Chancellor took up for his own purposes).  FURTHER ACTION HAS THEREFORE BEEN TAKEN. ...... and even the Americans are now recognising that the entire Private Equity and all Investment Managers  need to be properly investigated and held to account.   Clue: start with Richard Seewald, Director Quantexa Ltd and his endless lies to the SEC directly supported and promoted by The Bank of England and FCA with more than £70m of your money thrown at him.   https://adviserinfo.sec.gov/firm/summary/319748  (Sch D para 1.M)