SportPesa’s UK subsidiary saved from dissolution
Companies House revokes strike-off action following undisclosed explanation for operator’s failure to publish accounts
SportPesa’s UK-registered subsidiary has been saved from dissolution following a verdict from Companies House.
SPS Sportsoft had been handed a two month notice on 14 September by Companies House to explain the failure to publish its accounts covering the period up to 31 December 2019.
The accounts were due by 31 December 2020.
In the initial statement, Companies House said SPS Sportsoft would be struck from the register and dissolved, with all assets moving into possession of the Crown, if it failed to show cause for not publishing its accounts.
However, on 15 September, Companies House noted action had been temporarily suspended after receiving an objection from SPS Sportsoft relating to the matter.
On 23 September, Companies House then released a statement revealing just cause had been made evident and therefore saving the company from dissolution.
The notice read: “Cause has been shown why the above company should not be struck off the register and accordingly the Registrar is taking no further action.”
Despite SPS Sportsoft failing to submit its 2019 accounts, the firm confirmed a change of address to Liverpool from its previous London base in March, as well as directorial changes in the same month.
In its 2018 accounts, SPS Sportsoft posted a post-tax profit of £11.9m and £8.5m in creditor liabilities, which would have been dissolved should the company have been struck from the register.
The news will come as welcome relief for SportPesa which has been involved in a string of regulatory conflicts in recent months.
In July, the Kenyan Rugby Union filed a compensation claim against the operator worth £2.7m over the decision to terminate its sponsorship with the sporting body in January 2018.
In December 2020, SportPesa was raided by police and the Betting Control and Licensing Board (BCLB) according to reports from local media outlets.