§ Mr. RedmondTo ask the President of the Board of Trade what was the cost to his Department of the advertising campaign on Classic FM regarding the submission of company accounts; and at whose instigation the campaign was undertaken.
§ Mr. Neil HamiltonResponsibility for the subject has been delegated to the chief executive of Companies House, for which my Department is responsible. I have, therefore, asked Mr. David Durham to arrange for a reply to be given.
Letter from David Durham to Mr. Martin Redmond, dated 14 January 1994:
On 12 January you tabled the following Parliamentary Question:
"To ask the President of the Board of Trade what was the cost to his department of the advertising campaign on Classic FM regarding the submission of company accounts, and at whose instigation the campaign was undertaken."
513WFollowing the answer given by the President of the Board of Trade, I am replying as Chief Executive of Companies House Executive Agency.
In the current financial year, Companies House has spent £47,000 on radio advertising with Classic FM with a further £23,500 committed.
This figure includes VAT and covers radio advertising paid for directly by Companies House. The campaign was instigated by Companies House.
The introduction of Late Filing Penalties in July 1992 has provided a major boost to the completeness of the company register. However, many companies appear to remain unsure of their filing obligations and continue to file late. Companies House recognises that awareness of the legal obligations, which include dates by which company accounts must be filed, is an important aspect of the process of enabling companies to meet their obligations under the Companies Acts. We see it as our duty to ensure that we use all reasonable means to make the business community aware of the deadlines for filing the accounts and the mandatory penalties which apply. Independent market research is commissioned to monitor the effectiveness of our communications.
I hope this is helpful to you.