300

The one thing you would expect from a qualified accountant, at least one that is a member of an esteemed institute like the Institute of Chartered Accountants of England and Wales (ICAEW) is that he can do (very) basic arithmetic. But no.

I recently downloaded (from Companies House) a set of accounts published by Freeport Retail Ltd (no. 07337895). Checking the accounts, I noticed that they didn't even add up: the total debtors figure of £177,066 less the creditors (amounts falling due within one year) of £96,995 should have been £80,071 - not the £80,371 stated in the accounts. A difference of 300. Clearly, it seems, that the creditors figure should have been £96,695  - or so we assume.

But this is not important. At least not to the ICAEW. I showed them the accounts and they confirmed the error, but merely thought that it was "sloppy" (their word). No further action would be taken. An accountant who doesn't check his own figures! Makes you wonder what the ICAEW do consider important.

The accounts were prepared by Ian S. Anderson of Maidenhead, Berkshire. They were also (almost certainly) prepared using a Word-type programme. That is why the figures did not add up. Accountancy packages (like ProCap), which tend do be more expensive, at least make sure that all the figures agree with each other.

Not only did Ian S. Anderson not check his figures, neither did the director, Iestyn Roberts, who signed the accounts. Mr Roberts once accused two former associates of Freeport, Charles Smith and Alan Perkins, of being incompetent. He should look at himself first!