I think you're on the right track, but not quite correct....

I think you're on the right track, but not quite correct. Quarters of available funding remaining is a mechanism in quarterly 4Cs, not Appendix 4D (half year) or 4E (full year). The alternative - and potentially accurate - explanation, is that the Appendix 4D and 4E require audited accounts, i.e. auditor sign-off. Thus, if the failure to lodge on time (even given the extra day of the leap year!) is due to solvency concerns, it'll likely be the auditors refusing to sign off the accounts. Either that, or very slack management (particularly given it's not the first time!) Either way, it's terrible...