August 1, 2019 / 8:33 PM / 3 months ago

Goals Soccer Centres to disclose decade-long accounting scandal - Sky News

(Reuters) - Five-a-side football pitch operator Goals Soccer Centres Plc (GOAL.L) will disclose on Friday that the accounting crisis ‎which caused its shares to be suspended in March dates back a decade, Sky News reported on Thursday.

The disclosure would make it almost impossible for the company to prepare audited accounts by the end of September, meaning it would face being delisted from the London stock market, Sky News said bit.ly/2KiCVWC.

An investigation by the accountancy firm BDO has uncovered evidence of apparently false profit and capital expenditure entries in company’s accounts, Sky News added.

Goals Soccer Centres did not immediately respond to a request for comment.

The company which is backed by Sports Direct’s Mike Ashley, suspended trading in its shares in March after it had identified “substantial misdeclaration” of value added tax (VAT) as part of an ongoing investigation into historical accounting errors.

Reporting by Bhargav Acharya in Bengaluru; Editing by David Gregorio

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