Was this document necessary?

[Globe Trotter]

Hello,
Greetings of the day!

For my first extension application, I had given all the necessary documents related to my company - ABC ltd.

I had also submitted the "Management Accounts" of the company - XYZ ltd, to which I had given unsecured director's loan.

My query is:
1- Was it necessary to send the "Management Accounts" of the company - XYZ ltd, to which I had given unsecured director's loan?

2- Will I be again required to send the "Management Accounts" of the company - XYZ ltd, at the time of ILR (as I have already submitted it during my first application?

Many thanks,
Globe Trotter

[marcnath]

1. You had to send one set of accounts which could have been the management accounts
2. You don't need it at ILR

[Globe Trotter]

Many thanks Marcnath for your prompt response.

Regarding your answer "You had to send one set of accounts which could have been the management accounts", may I know this should be of which company? My own company's management account or that company's management account to which I had given unsecured director's loan?

Kind regards,
Globe Trotter

[moongesture]

If you are applying for a second extension or ILR and already had submitted the company accounts to show the mandatory investment in previous successful application than you don't need to show it again.

[marcnath]

Many thanks Marcnath for your prompt response.

Regarding your answer "You had to send one set of accounts which could have been the management accounts", may I know this should be of which company? My own company's management account or that company's management account to which I had given unsecured director's loan?

Kind regards,
Globe Trotter

Company accounts is a specified document only for evidence of investment. So, you need the accounts of the company you have made the investment in (given DL)

[Globe Trotter]

"So, you need the accounts of the company you have made the investment in (given DL)"

Dear Marcnath, from your above quote do you mean that I need to submit the management accounts of the company to which I had submitted Unsecured Director' Loan?

Sorry for repeating the question but I am a bit confused.

Many thanks,
Globe Trotter

[marcnath]

"So, you need the accounts of the company you have made the investment in (given DL)"

Dear Marcnath, from your above quote do you mean that I need to submit the management accounts of the company to which I had submitted Unsecured Director' Loan?

Sorry for repeating the question but I am a bit confused.

Many thanks,
Globe Trotter

Yes, but I thought that is what you submitted anyway. What other documents related to XYZ did you submit ?

Looking at your initial post - you mentioned "my company - ABC Ltd"

So, is XYZ Ltd not your company ? What is your relationship with that company ?

[Globe Trotter]

Dear Marcnath,
XYZ is a profitable company that does not belong to me.

I had just given it an 'Unsecured Director's Loan'. Though I am on board of directors of this company, I am not a stakeholder or partner.

Of this XYZ company, I have just submitted the Management Accounts.

My query is:
1- Was it necessary to submit these "Management Accounts"?

2- And as I have already submitted this, will I be required to resubmit it at the time of going for my ILR?

Many thanks for your time and patience Marcnath.

Regards,
Globe Trotter

[marcnath]

Dear Marcnath,
XYZ is a profitable company that does not belong to me.

I had just given it an 'Unsecured Director's Loan'. Though I am on board of directors of this company, I am not a stakeholder or partner.

Of this XYZ company, I have just submitted the Management Accounts.

My query is:
1- Was it necessary to submit these "Management Accounts"?

2- And as I have already submitted this, will I be required to resubmit it at the time of going for my ILR?

Many thanks for your time and patience Marcnath.

Regards,
Globe Trotter

Ok. This is back to your original question which I answered - uk-tier-1-entrepreneur-visas/was-this-d ... l#p1581150

To repeat, the answer to the Q1 is YES. and to Q2 is NO.

It will help to understand why you are so concerned. You have already submitted that and you can't withdraw documents, so not sure why this is a concern for you.

More importantly, you did not answer the other question I asked - What other documents related to XYZ did you submit ?

[Globe Trotter]

Many thanks Marcnath for the time given to this query.

I just submitted the 'Management Accounts' of XYZ.

But of my own company ABC, I submitted all the documents mentioned in the guidelines, for e.g. Management Accounts, Bank statements, payslips of 2 employees, etc, etc..

I hope I am on the right track.

[marcnath]

Many thanks Marcnath for the time given to this query.

I just submitted the 'Management Accounts' of XYZ.

But of my own company ABC, I submitted all the documents mentioned in the guidelines, for e.g. Management Accounts, Bank statements, payslips of 2 employees, etc, etc..

I hope I am on the right track.

Unfortunately you are not.
Recheck the evidence needed for investment. Accounts alone are not sufficient.
For investment as Director loan you need:
- Accounts
- Director Loan agreement
- Business Bank statements showing transfer of funds
- Proof that the business is a UK business. Documents to show

• UK address

• Bank Account

• Tax registration

[marcnath]

As it stands you are almost guaranteed a rejection of your investment.
You need to urgently send in the additional documents.

[Globe Trotter]

Thanks Marcnath for the detailed mail.

I have submitted all these documents that is related to my own business - ABC ltd.

I was just worried about the "management accounts" that I had submitted of the company - XYZ ltd, to which I had given unsecured directors loan.

[marcnath]

Thanks Marcnath for the detailed mail.

I have submitted all these documents that is related to my own business - ABC ltd.

I was just worried about the "management accounts" that I had submitted of the company - XYZ ltd, to which I had given unsecured directors loan.

Clearly there are things here that I don't understand. Can you clarify a few things:
1. How much did you invest in company ABC, if any ?
2. Was the investment into ABC by Director Loan or Share Capital
3. How much did you give as Director Loan to XYZ ?
4. Lastly and most importantly, what exactly is your worry about the management accounts of XYZ ?

[marcnath]

By the way, I was just looking through some of your older posts.

Has your extension already been approved or are you still waiting ? If it has been approved, all of this discussion is irrelevant.

[Globe Trotter]

Dear Marcnath,
Apologies for not making myself clear.
Here are the answers to your questions:
1. How much did you invest in company ABC, if any ?
150K
2. Was the investment into ABC by Director Loan or Share Capital
Share Capital
3. How much did you give as Director Loan to XYZ ?
50K
4. Lastly and most importantly, what exactly is your worry about the management accounts of XYZ ?
As my bank accounts show the loan being given to XYZ, was it necessary to submit the 'management accounts' of XYZ?

I am still awaiting the results and hoping for the best.

Regards,
Globe Trotter

[marcnath]

Ok, so you definitely need the investment to XYZ to be recognised to get your points for the investment attribute.

As I mentioned in the earlier post, you need to provide the specified documents for investment.

And that is needed for EVERY SINGLE pound that makes up your 200K.

Right now, if HO processes your application, they will only recognise 150K of the investment, which means you will not get any points for investment and your extension will be rejected.

You are lucky that your application has not been decided yet - you can still send in the additional documents TODAY and hope it gets to the CW before your application is taken up for processing.

Good luck.

[Globe Trotter]

Thanks Marcnath for your valuable advice.
Shall definitely do it.