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I have been in dispute with this lender for some 6 years during this time I challenged their respectability and began my own personal investigation into the Business Operations and Business Plan.
I began looking into their audited accounts and by some simple “Sums” I discovered the following discrepancies in the way their whole group have presented their accounts and had them audited by KPMG ( world known accountancy firm).
I discovered the following.
The Ultimate parent company of this group of 11 companies is Kestrel Holdings Ltd.
Each year each individual company submits their own yearly accounts to Company House.
The Accounts submitted by Kestrel Holdings is an amalgamation of all the company’s financial accounts.
This set of accounts should tally/match the total of each individual company accounts with of course a small degree of slight error(s).
However with this particular group this “appears” not to be so. These accounts are in the public domain for anyone to check and carry out their own little sums as I have done.
Below you will see why I say something serious is wrong with these accounts and I believe it should be brought to the Publics attention in general and the question should be asked how is this allowed to happen?
Company House say that it is not their responsibility to check accounts for accuracy only to ensure that they are filed correctly and on time.
These findings are my personal findings and are not official ……BUT …anyone can check to see if I am wrong or right I believe I am right in my sums.
I believe the public should be made aware of this as the loans that these accounts relate to affect a lot of members of the public who have borrowed money from them.
There “ Appears” that fraud is taking place which affects a fairly large section of the public.
Kestrel Holdings Ltd Account 2007 to 2008 are the amalgamated accounts of The Two Fully Active Kestrel Companies and Swift 1st Ltd and Swift Advances PLC
Briefly the main run down points are as follows.....this what Kestrel Holdings Ltd Accounts say.
New Loans are stated as…………………………………………………..£369. Million.
Total Loan Book is stated as……………………………………………....£776. Million
Turn over………………………………………………………………....£129.2 Million
Wages and Salaries
( does not include Directors fee and emolments)………………………£5,095.487 Million
DWP Costs……………………………………………………………..£ 528.899
Private Pension Contributions …………………………………………...£ 210.959
But when each individual Companies accounts on these figures are checked and amalgamated manually as I have done, …….this is what shows up
Total New Loans are stated as………………………………………………….£ 662.0 Million
Total Loan Book is stated as……………………………………………............£ 957.5 Million
Turn over…………………………………………………………………............£ 145.5 Million
Wages and Salaries……………………………………………………............£5,583.206 Million
DWP Costs………………………………………………………………........£ 579.708
Private Pension Contributions……………………………………………..........£ 230.611
Notice the differences in heavy red highlight.
There is about 300 Million that is missing in the loan records not accounted for,...... that I have always claimed, these accounts cannot be altered and furthermore every single account after this wouold appear to be false also and KPMG the auditors are as much to blame ….if I can pick it all up so should they …….
These are all done by simple basic sums from the figures shown in all their accounts, I have not carried out the analysis on the figures of the previous year ..its a lot of headwork .....maybe someone else could check them out, I have taxed my brain enough I think.
But I am certain they will be out also
Sparkie
I began looking into their audited accounts and by some simple “Sums” I discovered the following discrepancies in the way their whole group have presented their accounts and had them audited by KPMG ( world known accountancy firm).
I discovered the following.
The Ultimate parent company of this group of 11 companies is Kestrel Holdings Ltd.
Each year each individual company submits their own yearly accounts to Company House.
The Accounts submitted by Kestrel Holdings is an amalgamation of all the company’s financial accounts.
This set of accounts should tally/match the total of each individual company accounts with of course a small degree of slight error(s).
However with this particular group this “appears” not to be so. These accounts are in the public domain for anyone to check and carry out their own little sums as I have done.
Below you will see why I say something serious is wrong with these accounts and I believe it should be brought to the Publics attention in general and the question should be asked how is this allowed to happen?
Company House say that it is not their responsibility to check accounts for accuracy only to ensure that they are filed correctly and on time.
These findings are my personal findings and are not official ……BUT …anyone can check to see if I am wrong or right I believe I am right in my sums.
I believe the public should be made aware of this as the loans that these accounts relate to affect a lot of members of the public who have borrowed money from them.
There “ Appears” that fraud is taking place which affects a fairly large section of the public.
Kestrel Holdings Ltd Account 2007 to 2008 are the amalgamated accounts of The Two Fully Active Kestrel Companies and Swift 1st Ltd and Swift Advances PLC
Briefly the main run down points are as follows.....this what Kestrel Holdings Ltd Accounts say.
New Loans are stated as…………………………………………………..£369. Million.
Total Loan Book is stated as……………………………………………....£776. Million
Turn over………………………………………………………………....£129.2 Million
Wages and Salaries
( does not include Directors fee and emolments)………………………£5,095.487 Million
DWP Costs……………………………………………………………..£ 528.899
Private Pension Contributions …………………………………………...£ 210.959
But when each individual Companies accounts on these figures are checked and amalgamated manually as I have done, …….this is what shows up
Total New Loans are stated as………………………………………………….£ 662.0 Million
Total Loan Book is stated as……………………………………………............£ 957.5 Million
Turn over…………………………………………………………………............£ 145.5 Million
Wages and Salaries……………………………………………………............£5,583.206 Million
DWP Costs………………………………………………………………........£ 579.708
Private Pension Contributions……………………………………………..........£ 230.611
Notice the differences in heavy red highlight.
There is about 300 Million that is missing in the loan records not accounted for,...... that I have always claimed, these accounts cannot be altered and furthermore every single account after this wouold appear to be false also and KPMG the auditors are as much to blame ….if I can pick it all up so should they …….
These are all done by simple basic sums from the figures shown in all their accounts, I have not carried out the analysis on the figures of the previous year ..its a lot of headwork .....maybe someone else could check them out, I have taxed my brain enough I think.
But I am certain they will be out also
Sparkie
Hi again I have phoned Swift Advances. They said the amount owen is right? They said I am paying £89 pm for intrest. They said the futher I go into the loan the amount will go down. They said not to worry everything is fine with them. The loan was for £9000 over 25 years? The loan rate is varaible (did I spell that right) Ingrid
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