Tuesday 28 May 2019 7:49 am | Updated: Tuesday 18 June 2019 2:18 am

Goals Soccer Centres warns of weaker results amid accountancy blunder

Five-a-side football venue operator Goals has warned that its 2018 and 2019 performances will likely be significantly weaker than previously expected in the wake of a major accountancy error.

The embattled firm, which has been suspending its shares since March, said this morning it is forecasting both its 2018 and 2019 financial results to be "materially below expectations and historically reported financial performance".

In a trading update to the Stock Exchange, the London-listed group added it may not be in a position to complete its full year 2018 audit by the 30 June 2019 deadline set out in the AIM (Alternative Investment Market) Rules and Companies Act 2006.

In March Goals, which operates about 50 football sites in the UK and the US, admitted there had been a "a substantial misdeclaration of VAT" totalling roughly £12m, prompting a suspension in shares as "historical accounting errors" meant it could not be clear on its exact financial position.

The board also revealed today it does not expect trading to resume until it has clarity on the financial position of the company, specifically any potential liability associated with the firm's misdeclaration of VAT and the audit of the 2018 financial results is completed and published.

Earlier this month the beleaguered company was dealt a further blow when its chief executive decided to step down, departing just a little over a year after he joined.

Andy Anson, who has been in the role for a year, is set to leave the group in six months to take on the role of chief executive at the British Olympic Association (BOA).

Goals also confirmed today it remains in active dialogue with HMRC in establishing a timetable for resolving any misdeclaration.