Ferguson Marine shipyard warned as it misses deadline to file accounts

The ferries are years late and millions over budget

The firm is building the two overdue and over-budget ferries the Glen Sannox and as-yet-unnamed Hull 802, which are set to be delivered by May of this year and March of next, which is five and six years later than planned.

Its accounts were due by the end of December, and the firm has said it expected them to be submitted by the end of March.

However, Companies House has now issued a public notice warning that it could strike off the firm if it fails to file its them.

CEO of Ferguson, David Tydeman said: “We have been in communication with Companies House since missing the deadline and have explained the reasons for the delay that is currently beyond the directors’ control.

"We have been assured that Ferguson Marine will not be removed from the register provided we meet the undertakings we have given on filing by the end of March. As I made clear earlier today, we expect the accounts to be filed by end March, following adoption and approval by the Scottish Parliament, planned for mid-March.

"The directors and management team remain fully committed to delivering the two hulls currently under construction and winning new contracts to secure the yard’s future. This short term issue does not affect our ability to keep trading and continue the work in progress.”

It is understood the issue relates to discussions with the Scottish government and the public spending watchdog Audit Scotland as the accounts require the approval of MSPs before being submitted to Companies House.

Last month, Deputy First Minister John Swinney said he hoped payments made to Ferguson Marine for the completion of the ferries would be the last.

The vessels have been a long-running sore for the Scottish Government, which brought the Port Glasgow yard into public ownership in 2019, with two committees and the Auditor General launching inquiries into the procurement and construction of the ships.

The Government allocated £60.9 million to the shipyard in its 2023-24 draft budget to finish the vessels, but appearing before the Economy and Fair Work Committee, Mr Swinney could not give his assurance this funding will be the last.

“I certainly hope that is it, yes,” he said in response to questioning from Scottish Conservative transport spokesman Graham Simpson.

When pressed on the issue, with Mr Simpson saying his response was “not a commitment”, Mr Swinney added: “I’m required to give the committee honest answers, and I hope that is the last that we have to contribute for the construction of 801 and 802.

“Let me be absolutely crystal clear about this, that’s what I hope… the assessment from the yard of what they require is what I’ve provided for both in the additional commitment of around £15 million that I’ve allocated in this current financial year and the sum that’s provided for in the budget for 23-24.

“I am responding to the plans put to me by the yard, and obviously the Government looks very closely and scrutinises those propositions put to us, so I hope that is the last of the contributions that we have to make.”