I am afraid your assumption about acceptance is wrong, sorry to have to say it. Any Out-of-Time declaration to TEC (Statutory Declaration, or Witness Statement), can be opposed by the enforcing authority, who invariably do object to its acceptance. If they object, your OOT will be declined. The problem is one of your own making, being failure to keep your V5C up-to-date, indeed two years out-of-date, I believe.
Anyway, let us know how you get on, you could get lucky !