§ Captain Kerby
asked the Minister of Technology in view of the fact that the Beagle Aircraft (1968) Limited went into liquidation before that company's first annual accounts were finalised, why certified accounts cannot be completed in 505W the normal manner; and when the examination of this company's transactions from the date of its incorporation to the date of its bankruptcy, currently being investigated by Messrs. Price Waterhouse and Company, will be completed.
§ Mr. Carmichael
As my right hon. Friend explained in answer to the hon. Member for Scarborough and Whitby (Mr. Michael Shaw) on 16th March, there are technical reasons which make it impracticable for certified accounts to be completed in the normal way; these are connected with the difficulties of valuation on a going concern basis for balance sheet purposes of the assets of a company now in liquidation.
The examination of the company's transactions being carried out by Messrs. Price Waterhouse & Co. will be completed as expeditiously as possible.—[Vol. 798, c. 5.]