YB's Questions to be Answered on Fossets and safeguarding the future of SUFC

[Yorkshire Blue]

Irate Ian has had his questions, J has had his meeting and Cricko seems to eavesdrop the lot, so I'm feeling a little left out....

In all seriousness, I think there are a number of pertinent questions still to be asked regarding the development of the new stadium which directly impact on the football club. Some of them are going to be quite technical and quite a few will lead to further supplementary questions. I don't mind who gets the questions answered, it is the answers I'm interested in.

I think J has already demonstrated the importance of being thoroughly prepared and that without understanding the background you aren't going to able to ask the right questions, so before I kick off, can someone please confirm the corporate structure of SUFC.

Martin Dawn PLC
. |
. 100%?
. |
South East Leisure Limited
. |
majority shareholding in
. |
The Southend United Football Club Limited
. |
the entity that we know and love as SUFC


I can't get it to format properly to show it, but SEL also, I think, own Roots Hall Limited, who own Roots Hall (charged to the Banks).

 

[Cricko]

Irate Ian has had his questions, J has had his meeting and Cricko seems to eavesdrop the lot, so I'm feeling a little left out....

In all seriousness, I think there are a number of pertinent questions still to be asked regarding the development of the new stadium which directly impact on the football club. Some of them are going to be quite technical and quite a few will lead to further supplementary questions. I don't mind who gets the questions answered, it is the answers I'm interested in.

I think J has already demonstrated the importance of being thoroughly prepared and that without understanding the background you aren't going to able to ask the right questions, so before I kick off, can someone please confirm the corporate structure of SUFC.

Martin Dawn PLC
. |
. 100%?
. |
South East Leisure Limited
. |
majority shareholding in
. |
The Southend United Football Club Limited
. |
the entity that we know and love as SUFC


I can't get it to format properly to show it, but SEL also, I think, own Roots Hall Limited, who own Roots Hall (charged to the Banks).

Why are you not emailing Ron with these questions ?

 

[Yorkshire Blue]

Why are you not emailing Ron with these questions ?

I no doubt will, but in order to formulate sensible questions and extract meaningful answers I need to ensure I fully understand the current situation so that I ask the right questions. By posting questions on here I hope to help shape a meaningful and informed discussion and avoid bombarding Ron Martin with questions that he's already satisfactorily answered.

Can anyone comment on the accuracy of the corporate structure that I have outlined?

 

[Hotman]

do a company search on companies house, the annual returns should give you info in the public domain.

Don't email RM for it, he'd no doubt be frustrated about answering questions that could be answered for approx £10 and time on co's house!

www.companieshouse.gov.uk :)

 

[Yorkshire Blue]

do a company search on companies house, the annual returns should give you info in the public domain.

Don't email RM for it, he'd no doubt be frustrated about answering questions that could be answered for approx £10 and time on co's house!

www.companieshouse.gov.uk :)

Thanks, I'd already actually checked the names of the companies on Companies House. In any case Companies House won't show me the details of any overseas companies (I seem to recall some sort of BVI company involved somewhere?). Companies House records are also often out of date and at best it gives you a historical snapshot, although I note that SUFC's accounts aren't actually overdue.

 

[Hotman]

Thanks, I'd already actually checked the names of the companies on Companies House. In any case Companies House won't show me the details of any overseas companies (I seem to recall some sort of BVI company involved somewhere?). Companies House records are also often out of date and at best it gives you a historical snapshot, although I note that SUFC's accounts aren't actually overdue.

Within the accounts there is a requirement to disclose the ultimate controlling party, which IMO should include BVI companies.

 

[Irate Ian]

Irate Ian has had his questions, J has had his meeting and Cricko seems to eavesdrop the lot, so I'm feeling a little left out....

In all seriousness, I think there are a number of pertinent questions still to be asked regarding the development of the new stadium which directly impact on the football club. Some of them are going to be quite technical and quite a few will lead to further supplementary questions. I don't mind who gets the questions answered, it is the answers I'm interested in.

I think J has already demonstrated the importance of being thoroughly prepared and that without understanding the background you aren't going to able to ask the right questions, so before I kick off, can someone please confirm the corporate structure of SUFC.

Martin Dawn PLC
. |
. 100%?
. |
South East Leisure Limited
. |
majority shareholding in
. |
The Southend United Football Club Limited
. |
the entity that we know and love as SUFC


I can't get it to format properly to show it, but SEL also, I think, own Roots Hall Limited, who own Roots Hall (charged to the Banks).

Just to confirm Mr Cricko was not present at my meeting with RM 6.3.08 [the decision date by The Planning Inspectorate for FF]

Persons Present:-

Ronald Martin
Irate Ian
Adult Son of Irate Ian
The Flying Scotsman

 

[Irate Ian]

Within the accounts there is a requirement to disclose the ultimate controlling party, which IMO should include BVI companies.

Yes but many offshore companies rules do not require shareholders and in some/many cases even directors do not need to be notified.

So if for example a company called Jetbury registered in say Cyprus were in the chain of ownership of either FF or RH , the determination of the ultimate and actual owners of either would be nigh impossible to identify [or be non transparent].

If this were purely for tax haven reasons, one is lead to reasonably question why disclosure should be such a problem.