My thanks to a loyal reader who pointed out a rather interesting note within the March 2010 accounts of Mike Falvey Associates (this being the same Mike Falvey who is Chief People Officer of HMRC).
On page 3 the note about turnover makes specific reference to "service contracts". Whilst the accounts show no turnover for year ending March 2010 the reference is interesting.
Falvey was Director General of Human Resources and Business Change in the Department of Communities and local Government from September 2007 to February 2010 (ie he was a civil servant for 2.5 years yet his company still refers to "service contracts").
The same applies to the accounts for the company year ending March 2011, when he was working for HMRC.
Why have such a note about service contracts if you do not intend to make use of it one day?
I should note that Falvey's accounts are abbreviated accounts, these put less information in the public domain.
Whilst the accounts must contain an abbreviated balance sheet and notes to the abbreviated accounts, they do not have to disclose turnover. In other words the fact that Falvey Associates did not disclose turnover does not necessarily mean that there was no turnover.
Tax does have to be taxing.
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