Companies House published the long overdue Annual Return for The Rangers Football Club Ltd (previously Sevco Scotland Ltd) today. Although only received by Companies House yesterday (12 Sep 13) it was dated 29th May 2013, however, the submission was incomplete.
A company is required to detail all their shareholders since their previous Annual Return (or as in this instance, since formation). Companies House say the Annual Return must detail “the name of every shareholder (or joint-shareholders) who has ceased to be a shareholder since the made-up date of the previous annual return (or in the case of a first return, since the incorporation of the company)”.
The only shareholder detailed on this Annual Return is Rangers International Football Club PLC (RIFC PLC). RIFC PLC was not formed until 16 November 2012, nearly four months after Sevco Scotland Ltd was formed, so could not have been a founding shareholder.
And there’s more…….
The Rangers Football Club Ltd issued a Statement of Capital to Companies House, dated 31 October 2012, showing the same number of shares in issue as this Annual Return (33,415,200), some two weeks before Rangers International was formed. The Statement of Capital was submitted by Caroline Nicholls of Field Fisher Waterhouse LLP, who should be in a position to assist the directors.
I’d never really given any consideration to who owned Sevco Scotland Ltd prior to the shares being consumed by Rangers International, but this omission is curious. The story will move on now with auditors Deloittes taking centre stage. They have plenty on their plate prior to signing off the PLC’s accounts so may be happy to turn a blind eye to the reporting requirements of a subsidiary company. Companies House already have an active issue over submissions for Sevco 5088 Ltd, it remains to be seen whether this one passes below the radar.
This is all so unnecessary as I am sure the correct information would be perfectly appropriate and in good order.
Can you imagine what we would be doing if our ‘club’ was being run in this manner? This story is being played out while all those who should be asking questions are being distracted by a player betting against his own club!
In the grand scheme of things it doesn’t matter if Ian Black hedges against himself, or what embarrassingly light punishment he receives. The real story is so much bigger, it is being written in large type, visible from the moon landings, but the football authorities appear happy to stand back and let events take their course.
No looks of surprise next time around – from anyone.
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I just logged on to online tickets and bought a three match CL package at 11:13, even though it says they are sold out . They literally in row Z , but the views no that bad. I signed in as a season book holder
Listening to ETims podcast this morning and a good case was made for the theory that the Rangers Old Guard were amassing a big enough points lead in the league to have another administration and work a CVA paying creditors 2 pence in the pound.
Then go into liquidation for the Rangers Old Guard of McLelland, Paul Murray, etc take over the club and the spivs move on. All of this while SDM sits in the South of France stroking his white Persian cat or some other pussy.
Is it too far-fetched to think that this was all planned?
Even the Blue Knights with Walter riding to the rescue just too late but knowing they would get the club for nothing next time around?
mickbhoy1888
11:54 on
13 September, 2013
Who really gives a flying f@@k what they do anymore
——————-
Have they been “punished enough?”
greendreamz
I disagree with one of your points. Someone will put cash into them when they reach the SPFL Premiership. A fool and his money are easilly parted. Someone will see an opportunity to make a fast buck.
LB
I have no doubt as happened on a couple of occasions last season that a fair amount of sponsors seats will remain unoccupied on match nights
I see Glenn loovens ( the Dutch Derek whyte ) is available as he is a free agent. Daft for us not to pick him up for back up for a while
“it should nevertheless
not be overlooked that a modern professional football club is not a “club”, in the sense of
an unincorporated association of members who join together in pursuit of a common
purpose, but a commercial enterprise whose function is to generate profits for its
shareholders.”
From UT procedural decision, available at:
http://www.bailii.org/uk/cases/UKUT/TCC/2013/B6.pdf
I enjoyed reading that :-)
GREENDREAMZ
The argument that time and hubris will do for them eventually is one with which I tend to agree.
But there’s always that nagging doubt that somehow they’ll get outa this.
I don’t want them to be able to say it was our fault when it happens,and point to examples of where we made their re-emergence difficult (by demanding,for example,that rules be applied properly) but I sure wish they’d do the decent thing PDQ and curl up and die.
With life there is hope,and I wish Rangers neither.
Geordie
punishment he receives. The real story is so much bigger, it is being written in large type, visible from the moon landings, but the football authorities appear happy to stand back and
Big Nan
They may get the “club” for nothing but what price or lease deal will the Spivs offer them .
Asset stripping spivs dont do “walking away” when there is still marrow left in the carcass(IMHO).
Big Nan:
There are a couple of problems with the scenario, most notably that it will annihilate their financial credibility now and forevermore. The only way they can rebuild it is to run that place right this time, and get it on the straight and narrow.
I think it’s more likely than not that another bunch of spivs would simply ride in and repeat the feat all over again.
I think by this time next year they’ll be on the verge, but only, as Paul has said, after they’ve signed the sale and leaseback deal on the stadium and training ground. That will keep them afloat … for a while at least.
If this board runs them into the rocks, the share price will tank. The playing squad will be decimated all over again, leaving another rebuilding job to do.
So I think they will survive … for this season anyway.
But the future is not looking bright for them.
Paul 67, Fellow CQN’ers Et Al,
To me the pertinent point :-“The story will move on now with auditors Deloittes taking centre stage. They have plenty on their plate prior to signing off the PLC’s accounts so may be happy to turn a blind eye to the reporting requirements of a subsidiary company. ”
This statement sums up the whole saga. With a few vilified exceptions, everyone and anyone dealing with the dead club have been turning a blind eye. Hopefully the Jim Spence scenario will prove an own goal for the deluded 400 and refocus all parties who have turned the blind eye.
Reading back, there was robust debate posted on the last article. One positive to the reduced crowds and demise of the traditional supporters busses is the news today that after large queues formed at unsociable hours, all CL tickets have been sold.
There will be continued debate on the method of ticket sales, however the fact is that if the product is right then demand will outstrip supply. Great news going forward.
It was interesting reading about the Stranglers, I have had the pleasure of following them for many years and have seen them in Glasgow over the last few years ( When I have been home ). Great seeing the same people, although getting less every gig. Old punks grow old disgracefully and never die. Roll on the next 40 years.
“Moon Landings” are us——-not.
HH, Always in Celtic.
Blin walking away ?
WHITEDOGHUNCH
It wasn’t The Eight Bells beside Chelsea Bridge,was it?
Still got a photie of me holding him up after a sesh wi my Dad in Detroit in 79.
Damn,he was a good-looking fella….
Livibhoy
Our American friend Bill Miller said it didn’t make sense to invest in newco as the returns weren’t there given the investment that was necessary. He was under the opinion newco would be parachuted into the top flight and he still held this opinion. I wouldn’t be confident of any serious investment. They’re a dead duck.
hamiltontim is praying for oscar
11:28 on 13 September, 2013
Dens park riot on Boxing Day ? Was at that game can’t remember a riot.
johann murdoch
12:02 on 13 September, 2013
Ahm no really interested I can do a lot more productive things with my time rather than constantly looking over my shoulder to see what they are up to
Good evening/afternoon and greetings from the Gold Coast.
I am back home and well on the road to recovery.
Got home about 10am but have been asleep most of the day and still a bit shaky on my feet, but in good spirits.
The op went pretty much as planned on Monday morning. On Tuesday and Wednesday I had a high temperature spike which resulted in a course of IV antibiotics and a chest x-ray as pneumonia was a high risk option. On Thursday I was given the all-clear on that and told I’d be going home Friday if no more temperature spikes.
So here I am. A bit sore and having to get used to the catheter at home. I have an appointment to have it removed on Monday week and see how that goes. I will also find out the outcome of the op from the pathology results. The surgeon told me the cancer was extensive but confined to the prostate and that we had hopefully caught it in time. The pelvic lymph nodes were also removed and these are what are being analysed. If either of these reveal any sign of the disease, I will require further treatment, so I am not quite out of the woods just yet
However, I am staying positive and concentrating on being given a clean bill of health.
Looking forward to watching the game tomorrow night from Tynecastle.
Hail Hail and thanks again for all the messages of support which Summa sent on to Tracey.
SydneyTim
12:03 on
13 September, 2013
I see Glenn loovens ( the Dutch Derek whyte ) is available as he is a free agent. Daft for us not to pick him up for back up for a while
Why? Can’t play in CL, not good enough first time round, not needed for SPFL and would only stop one of our youngsters getting a chance.
Great news about the demand for CL tickets. Buy your season ticket and you are guaranteed these amazing games, the added bonus you can buy additional packages. I don’t see anything wrong in Celtics strategy.
Always be watching bournesouprecipequicknews, as I managed to get 5 tickets for the Spartak game last season and because of the location, we even had the added bonus of being able to stand through the whole game. One of the best games ever for many reasons and all because BSR posted up, that there were additional tickets available.
I will need to plan my days off work very carefully this year. :))
Good Morning.
Now isn’t this an interesting wee day?
According to Companies House, Charles Green never owned a share in Sevco Scotland Ltd, and there has never been a return for Sevco 5088 Ltd.
Therefore any examination of those companies per Companies House would show that Charles Green was a director but never a shareholder of either.
So– who was he working for then?
And just how did the SFA or anyone else decide that whoever owned these companies was a fit and proper person to run a football club?
Who did they grant Associate Membership to and what statements were made in support of the application to join — statements about who owned the club and who was behind the application?
Maybe Green didn’t actually exist at all?
Tom McLaughlin
Welcome home :)))
I seen moon landings mentioned in the leader
So some charity is a score etter off
Tom McLaughlin:
Excellent news mate. Glad you’re up and about again.
Fingers crossed and prayers planned for you.
FAO Margaret McGill
colum mccann @mccanio 13h
2 bhoys outside Celtic ticket office queuing for champions league tickets #legends pic.twitter.com/BzuVl9l4X7
TOM McLAUGHLIN
Welcome home!
Bestaluck on your recovery,mate.
Now it actually is a fiasco. One of my colleagues just got 2 packages online.
An Dun
They will be afforded every chance to bend and break the rules to ensure they are given as much chance as anyone to succeed. Once they hit the SPFL Premiership there will be money to be made.
Sevco is the 2nd force in Scotland already and they are two leagues below the Premiership. They would beat every team in Scotland except Celtic with the players they have now.
They have yet to be punished for anything. I doubt they ever will!
LB
gerryguk7
Aye, but ain’t it the case Rangers ceased to be a professional football club when Craig Whyte liquidised the company (with the aid of the SFA and Tims in HMRC), but Mr Green transferred the club into an incubator to preserve the history and dignity. That’s why they remain the same dignified and continuous CLUB ?
I probably won’t make Barca match so I’d be happy to forward the ticket on, no point in leaving the seat empty.
When I’m 100% certain I can’t make it, I’ll let be on here to offer the ticket. Anyone interested, let me know.
Good to hear Tom.
Could be a day for someone getting throne down the ole marble staircase.
Dick Byrne an the ole Zips – Burn’s Howff
Tom. Relax. You have done the hard work. Looking forward to that beer sometime
CLINK\o/
Good point- I thought the deal was for moon landing AND Zadok the Priest.
But the original offer was for moon landings only.
Well done,PAUL67
What is this word “formation”.
FAO Margaret McGill
https://twitter.com/celticfc/status/378434546016198656/photo/1
https://twitter.com/celticfc/status/378438965612642304/photo/1
An Dun
I would take it!