MP’s concerns over firms worth billions of pounds registered to Bolton terraced house
There are four active businesses registered at the Chorley Old Road address, as stated on Companies House.
Eight companies, now dissolved, have also been registered to the address since 2014.
The terraced house on Chorley Old Road has multiple businesses, allegedly worth billions, registered. (Image: Leah Collins) One of the businesses registered at the address is “1 Stallion Limited” and is listed on Companies House as a part of the “oil and gas exploration sector”.
The company, which was incorporated in March 2021, has a registered £4bn of assets, a £12.5bn turnover and offices on four continents, state documents available on Companies House website.
The website for the business, registered to the same Bolton address, describes it as a “financial intermediary offering investment management, financial planning, and risk management”.
At the time of writing, the website for 1 Stallion Limited is listed as being “under construction”.
The government website also revealed that around £1.5m was outsourced in 2023 for “staffing costs”.
A second company named Avantulo SA Ltd, also registered to the terraced house on Chorley Old Road, filed accounts claiming a £26m of turnover and a £12.5m share capital in 2023.
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Registered to the same address was a third company, a banking business, by the name of “E-bank Ltd” which claimed to make a £957m turnover in 2022.
A fourth company by the name of “Stallion Payroll Services Limited” is also registered to the same terrace house.
According to the Financial Conduct Authority, which banks in the UK are required to register with to ensure that certain standards are met, there are no records of a company by such name on the register.
Account audits for 1 Stallion LTD, from Companies House. (Image: Companies House) A retrospective plan was submitted to use the house as a six-bedroom house in multiple occupation which was approved on February 21 of this year.
When The Bolton News visited the house there did not appear to be any signs of business activity and residents appeared to be unaware the building is being used for business purposes.
Bolton West MP Phil Brickell said: “Having spent a decade fighting economic crime and corruption in the financial sector, I have longstanding concerns around the integrity of our Companies House register.
“It’s clear to me that this case should have raised numerous red flags. This is just another egregious example of how our company register is not fit for purpose.
“We need a transparent, accurate and well-policed register to prevent dodgy company registrations which serve no proper purpose, and which are all too often, are used to carry out fraud and evade taxes.”
Inside the terraced house, residents were not aware of any business activity on the premises, (Image: Leah Collins)The Bolton News contacted Companies House about the address and registered business, as well as putting Mr Brickell’s comment to it.
In response, a spokesperson from Companies House said: “We take fraud against the register seriously and all allegations are fully investigated.
“Since March 2024, we have been using our new powers to crack down on the misuse of the register by querying information provided by companies.
“Where incorrect, suspicious, or fraudulent filings are made, we will take appropriate action. We proactively share information with other relevant government agencies and law enforcement.
“We are developing systems and processes to enable more checks to determine the accuracy of information delivered to us before it is placed on the register.”
The Bolton News attempted to contact the businesses and auditors but could not get through.
Source – INDIA TV
