Post by Jon on Feb 28, 2017 0:57:00 GMT
Despite all that nonsense Dave Phillips was spouting about "the cost of a detached house", we now have official confirmation that Clarke Osborne's Riviera Stadium Limited obtained Plainmoor Limited's controlling interest in TUFC Ltd for the princely sum of £1. It also seems that Osborne has got his hands on 100% of Plainmmor Limited's shares in the club for his £1 - i.e. the 80% owned by the old board and Thea's 20% too.
The above comes from Plainmoor Limited's accounts for the year ending 31 May 2016 which were filed just within the nine month deadline.
Resignations as directors of the Balsons, the Kerswells and Angela Richards have now been recorded - dated from December 19. This leaves David Phillips (with two LLs) as the only director. If, as seems to be the case, the TUFC shares have gone straight to RSL, I would imagine that Plainmoor Limited will be wound up pretty soon as it now serves no purpose.
As well as writing off the investment, the £3m+ loan due from TUFC seems to have been written off - resulting in a "loss" for the year for Plainmoor Limited of £3,728,617!!!
Expect a huge "profit" in TUFC Ltd's accounts due in a month's time as the loan liability disappears.
The debt at 31/5/16 due both from and to Plainmoor Limited is £166,653.
Is this the money lent to Plainmoor Limited by Phillips, Balson, Kerswell and Richards? Remember they paid nothing for their shares.
Or could it include money lent from GI to Plainmoor and then on to TUFC Ltd?
Or are there other creditors in the total?
Some or all of it may have been written off since May 2016 or may still be a liability of the football club.
The above comes from Plainmoor Limited's accounts for the year ending 31 May 2016 which were filed just within the nine month deadline.
Resignations as directors of the Balsons, the Kerswells and Angela Richards have now been recorded - dated from December 19. This leaves David Phillips (with two LLs) as the only director. If, as seems to be the case, the TUFC shares have gone straight to RSL, I would imagine that Plainmoor Limited will be wound up pretty soon as it now serves no purpose.
As well as writing off the investment, the £3m+ loan due from TUFC seems to have been written off - resulting in a "loss" for the year for Plainmoor Limited of £3,728,617!!!
Expect a huge "profit" in TUFC Ltd's accounts due in a month's time as the loan liability disappears.
The debt at 31/5/16 due both from and to Plainmoor Limited is £166,653.
Is this the money lent to Plainmoor Limited by Phillips, Balson, Kerswell and Richards? Remember they paid nothing for their shares.
Or could it include money lent from GI to Plainmoor and then on to TUFC Ltd?
Or are there other creditors in the total?
Some or all of it may have been written off since May 2016 or may still be a liability of the football club.
