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 love this site. So many contrasting opinions on topics which have nothing to do with Celtic, football or me and you. I enjoy reading the debate when behind the debate is intellectual and logical information available. We all have the ability to read, research and dissect information we digest. Some do it brilliantly.
Did man land on the moon? Are we slaves to the ‘government’? Is this really not butter?
Big questions. Who can answer them?
We as humans thrive on these things. It’s normal. Some reaearch heavily, others roll along life and take what means something to them and understands it fully. I, I have huge interest in many of lifes conspiracies and ‘ways’ and although I do occassionally look into these things, nothing will change how I feel towards my family, my friends and the purpose I have.
We’re all wired up different. Appreciate what you know is right and true… but respect the differing opinions of others.
I’ll finish by saying ‘Hail Hail and may life be kind to all the good folk!
Tambo
Awe naw
How about a Radio Free Europe?
Ah believe Ah am safe in Saying..
That, generally speakin’..
there ur a Loat of Celtic Fans.. who are of Irish Extraction.
so..
Mebbe, that wull Explain .. the Inordinate Number of Celtic Board Critics, who populate this Hallowed Spot oan the Blogosphere.
because of, well… that very thing.
as it is not too Much of a Stretch. tae reckon that
a Fair Number of these Celtic Board Critics are.. of..well.. Irish Extraction.
Agreed?
Anyway..
Ah have noo set the Table .. so It is time.. fur Tae Tackle.. the Dessert..
n the Desert ,today, is..
This auld Joke.. that Ah hiv Used ,in the Past..and wull, Probably, continue tae Use.. in the Future..
Wance Upon a Time.. an Irish Sailor wiz Shipwrecked oan a Desert Island.
When he reached the Beach.. and Waded oota the water..
He Called oot.. tae No one In particular..
“Hello.. any buddy Aroon? Ma Name Is Paddy Murphy and Ah hiv arrived oan yer Island.”
Suddenly, Frum oota the gatherin of Palm trees.. at the edge of the Beach..
a Number of Natives.. Shyly and Tentativiely… Showed Themselves.. in answer tae his call..
When Paddy Saw them.. he Immediately .. shouted..
“Ah am No a Threat tae any o’ You folk.. you kin hiv no fear, in that score.
But, let me set ye straight oan this. right fae the Start..
Ah hate the Authorities…and… yer Government!”
Kojo
Still, Laughin’
Hello bhoys and girls.
My old man will be in Florida for the next two weeks. Apart from being a lucky auld git he is looking for a Celtic SC In the Disneyland area to catch the hearts and AC Milan matches.
If anybody can recommend any pubs or CSC’s can you mail me on johnpaulm75@gmail.com
Thanks in advance
Paul, I am not a Season Ticket Holder, and at seventy years old and living in Yorkshire,dont know Charles Green, only get to a few games a season.
However I buy Windfall tickets every home game, been a member of the Pools since 1967,never won a penny, buy the Celtic View, buy merchandise from the super store. Bought shares whenever there has been a share issue.
I think there will be lots of fans like me,who should be given the opportunity to buy Champions League tickets following season ticket holders being given the opportunity to buy a ticket.
It is not only season ticket holders who contribute to the club.
delaneysdunky
I had a job interviee with them. Got offered it but said No
HH
Awe naw
Why did you knock them back? :-)
Springhill Bhoy 16:54 on 13 September, 2013
…..I think there will be lots of fans like me,who should be given the opportunity to buy Champions League tickets following season ticket holders being given the opportunity to buy a ticket.
———————————————–
can you provide us with your foolproof way of satisfying all types of fans
when the big games come round?
I dont know if this is a conspiracy or a fact .
Humans are aliens.
We are alien settlers on planet Earth.
That explains our distructive behavior to the environment.
We dont fit in here . Nature wants rid of us as we are polluting this planet.
Time to pack up and head back to where we came from.
What do you reckon the betting industry will make of the decision by the beaks re Black.
The sfa have opened themselfs up to a massive can of worms squirming all over the shop.
So betting against your team is a red card offence, betting on 150 matches is a censure.
The sfa have by failing to punish Black properly opened the door for betting syndicates to come in scotland and clean up.
Awe_Naw_No_Annoni_Oan_Anaw_Noo @16.52 hrs.
As you say the list is endless and some more brilliant examples.
Are Celtic colluding in this one ?
If you mean are Celtic at fault for not being more vocal in the antics of the dead club then I really don’t know. Is it better to speak out or remain silent?
The phase however springs to mind ” For evil to prosper all it needs is good men to remain silent” A bit melodramatic but the general jist is there.
Tambourine Bhoy @ 16.52 hrs. Great Post.
HH, Always in Celtic.
springhill bhoy-spot on sir.I have been lucky enough to have a ST for 26 years,i do the Home Ticket Scheme and look forward to Postman Patrick bringing my CL tickets.I posted the other day that non ST holders should have had the chance to buy CL tickets, before ST holders could get additional packages.Not everyone can afford a ST.HH
delaneysdunky
1988 …. Eastern block was toppling fast and it seemed better to stay where I was. Looking back it was the right decision
HH
Good To Hear That GCT Is On The Mend..
The Army Of Garden Gnome Sentinels Minding The White Picket Fence…
Will Raise A Lusty ‘Cheer’…..
Now That Their Boss Is Back….
Viva KevJ ..!
Bamboo
And we need clothing to survive here. Unlike all other earth’s creatures.
I see the baffoon BFSDJ wants all players who bet punished.His fat pal had a list of “over a hundred” last week,there’s his starting point.The Gang mentality again.
Looks like wishaw calling..
Suppose so?
Awe naw
Aye, that was a good decision in retrospect.
delaneysdunky
Except for the hermit crab which was once our pet ;-)
HH
Can anyone advise on how to actually buy Green Brigade merchandise as there is not a link on there page for PayPal etc???
Hail Hail in advance
BT
Friday. Wishy market ? ;-)
HH
*the king vic 67*
Get yourself arrested ;-)
HH
Kojo/Pasquale
Howzitgaun?!
I am also a firm believer in the old adage espoused by Special Agent Mulder of the FBI – ‘The truth is out there’. …and, ‘Keep watching the skies’.
Well, ok that’s two adages!
He should know – his sister was abducted by aliens after all!
HH!!
Its as clear as mud but I still say that whoever legally owns the orcs stadium, training ground and car park has a fixed charge on those assets which is held by TICKETUS….
22M advanced by TICKETUS?………it would be unpardonable folly of them not to secure their money on real assets.
As for the rest. The orcs have been investing in a brand that diminishes in value with every new revelation and incompetence disclosure.
The IPO money was raised by the football franchise I think?……not the owners of the real estate……that money is being legally consumed and spunked by the spiv’s and carpet baggers as we speak.
The orcs will never seriously challenge us again. In a relative sense these people are looking up a financial mountain at us which is many times greater than us looking up at Manchester City for example.
No one in their right mind will lend them any money at all without personal guarantees and without exception there is not a single knight of whatever colour with the sort of money that will be required to refurbish a stadium and build a team to the level we are at now…..
We need do nothing more than we are already doing….winning the league and performing in the CL each season and incrementally improving the squad as we have done. The guys we brought in for money will prove to be better than the guys we punted for excellent profit.
PL has been invited to the table because there is a recognition among the bowling club committees of the SFA that the balance of power in Scottish football has changed irrevocably.
They may not like us but the real politik of it is they have to deal with us much like any vanquished country has to deal with their victors.
The dinosaur is in the tar pit and it will surely die there…… the only question is how long will it take.
“Your Grandchildren will be Celtic supporters”
Aw Naw.
Call from oldtim. He arrived in wishaw and gave me a call..
Awe naw
Hahaha. We all can’t be happy all the time.
3. Orange Drums, Tyrone, 1966
The lambeg balloons at his belly , weighs
Him back on his haunches, lodging thunder
Grossly there between his chin and his knees.
He is raised up by what he buckles under.
Each arm extended by a seasoned rod,
He parades behind it. And though the drummers
Are granted passage through the nodding crowd,
It is the drums preside, like giant tumours.
To every cocked ear. expert in its greed,
His battered signature subscribes ‘No Pope’.
The goatskin’s sometimes plastered with his blood.
The air is pounding like a stethoscope.
Heaney on Orangemen – I went to one of his readings in Aberdeen about 25 years ago, I’ll never forget the trail of silence he left . I’d love to read what he thought of modern Scotland. Anybody understand line 4 ? I’ve been lucky never to see them !
.
Acche it was Buzz Lightyear No Buzz Aldrin l was on About..Dohh..
Wonder if the Are Related..Unusual Name..
Summa of ThereIsABUZZAbootThePlaceCSC
Tom McLaughlin.
Well done mate stay positive.
Hope your results go well for you, nice to see you posting again, but don’t get carried away and overdo things.
Easy does it old bean, think of all the drink you can have and you don’t need to get up for a pee umpteen times a night lol.
Well I have to.
Keep on keeping on, hail hail.
BT
Say hi to the guy I have heard lots about but never met. Take it easy on that knee. Streets of wishy would strike fear into most mountaineerers ;-)
HH
Springhill Bhoy
I sympathize with you,pal.
But…
Celtic, need tae Sell As Many Season Tickets as they Possibly Can.
That is where the Money Tae run the Club, Mainly Comes frum..
a Company needs a Reliable Source of Ready Funds..
And Selling Season Tickets is an Admirable way tae tap into one of those Sources.
As Ah and Ithers.. hiv Previously Pointed oot.
If Qualifiying fur Having First Dibs at buying A Much Coveted Ticket to a Mooth Watering C.L. game..is one of the
Perks, that any fan who Buys Season Ticket receives in the deal..
Then That privilege can only be An Added incentive for a Fan to Purchase a Season Ticket.
In making this a part of the dea…. Is jist Sound Business practice oan the Part of the Celtic.
Kojo
Still, Laughin’
Two interesting questions:
“Who owns the deeds?”
and
“Who owns the dieds?”
Anybody fancy a stab at that?
OK bhoys
Speak later.
KTF
Will do aw naw
Just watching Sky Sports showing consecutive interviews with Lenny and McCoist. Lenny exudes intelligence, class and respect for others, referring to Mister Trapattoni. The pieman? I wouldn’t trust him as far as I could throw him, a totally classless individual.
HM Revenue and Customs’ appeal against the
Rangers tax case will be heard in public, it has
been announced.
The tax authority is appealing the First Tier
Tax Tribunal that ruled in favour of the Murray
Group Holdings and its subsidiary, Rangers
oldco.
In the tribunal decision released last
November, a majority of two to one on the
panel found that payments made through
offshore employee benefit trusts (EBTs) to
players and staff at Rangers should be
classified as loans and did not attract PAYE
and national insurance.
There were five cases where the payments
made to employees should be classified as
wages and were taxable, the panel found.
HMRC launched an appeal against the ‘big’
tax case in the Upper Tribunal last year and it
is set to be heard on several days between
January and March 2014.
Colin Bishopp is the Upper Tribunal judge
overseeing it and his directions issued at an
earlier preliminary hearing in the case were
released on Friday.
In it, he confirmed that all further hearings in
the case will be made in public, after the
previous case was held in private.
Judge Bishopp said: “It was common ground
before me that the presumption is that tax
appeals are heard in public, and with no
concealment of identity or detail. I accept that,
in the past, there was good reason to fear that
the personal safety of certain individuals was
threatened; but the information now before me
indicates that the threats have abated and
have probably disappeared.
“Even if the identities of some individuals were
concealed in the First-tier Tribunal’s decision,
the nature of the issues was not.”
He stated that the original decision to
withhold the identities of those giving evidence
in the case came about because of the “strong
feelings” football can generate.
Judge Bishopp explained: “It is undisputed
that various threats of a serious nature have
been made, and that the Strathclyde Police
have been compelled to offer advice and
protection to several individuals involved in
RFC’s affairs. Some of the threats have come
from disappointed Rangers supporters; others
from supporters of rival teams who have
formed the opinion that RFC’s use of the EBT
gave it an unfair financial advantage.
“Largely because of those threats the hearing
before the First-tier Tribunal was held in
private. Some of the witnesses who gave oral
evidence were resident outside the jurisdiction
of the United Kingdom courts and tribunals,
and therefore could not be compelled to give
evidence; they did so only on condition that
their names were not revealed. The two HMRC
officers who had dealt with the matter, too,
were believed to be under threat and their
identities were concealed. In consequence the
decision was released in a heavily redacted
and anonymised form.”
‘No special status’
The judge also noted that many of those who
gave evidence could be identified by piecing
together their First Tier Tribunal evidence with
the findings of the independent Scottish
Premier League commission chaired by Lord
Nimmo Smith that found Rangers breached
the rules by failing to disclose EBT payments.
After the case last year, former Rangers owner
Sir David Murray stated that the decision left
the oldco, which is now in liquidation, and his
company facing a “minimal tax liability”.
Originally, HMRC had sought £36.6m from
Rangers oldco for PAYE and national
insurance for its use of EBTs from 2001 and
2010. It also alleged that four companies
related to Sir David – Murray Group Holdings
Ltd, Murray Group Management Ltd, the
Premier Property Group Ltd and GM Mining
Ltd – owed a further £10m in unpaid taxes on
the EBT payments.
The panel that heard the first case ruled that
most of the trusts were “valid” and payments
made to players and staff were loans that are
“recoverable” by the trusts.
Rangers oldco, now known as RFC 2012 plc,
went into administration last February with
debts of between £50m and £124m, depending
on the amount allotted to the big tax case.
Duff and Phelps were unable to agree a
company voluntary agreement (CVA) among
creditors and liquidators BDO were appointed
last October.
Rangers’ assets, including Ibrox stadium and
the Murray Park training ground, were sold to
a newco, formerly Sevco Scotland Ltd, which
was backed by Charles Green’s consortium
last June in a £5.5m deal.
Judge Bishopp said he took into account the
financial collapse of Rangers and subsequent
fallout into allowing the hearings to be held in
public.
He stated: “Perhaps because of such feelings,
professional football clubs are often regarded
as having a special status. In some respects
that may be the correct view; but 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 that perspective it has no special
status, and there is no reason why its tax
affairs should not be as open to scrutiny as
those of any other profit-making organisation.
The players, too, have no greater right to
conceal their tax affairs from public scrutiny
than any other taxpayer. The fact that they are
in the public eye is irrelevant.
“Any application for privacy, anonymity or
redaction of detail must therefore be
supported by the same type and quality of
evidence as would be required of another
taxpayer, and will be granted only for the
same reasons.”
Under his direction, the HMRC employees who
dealt with the case will remain anonymous in
the Upper Tribunal hearing, while other
witnesses who were not compelled to give
evidence during the original case will not have
to give evidence.
Jackie Mac
Line 4. If you had ever seen them parade then the drummer hammering away is indeed ” raised up ” but only in his own head. His sense of triumphalism, superiority is palpable. It is structured to strike pride in the victors and fear in the defeated and subjugated.
Our response was /is…. We will overcome, our day will come.
For many of a Celtic persuasion and of a certain age then we have overcome and our day has come. Still a wee bit to do though!
Greenpinata
Thanks for reading and a bigger thanks for your acknowledgement.
HH
TallyBhoy
Ay. Paisan!
Well.. sorta.. Near enuff…
Ah wiz n am… a great Fan of The X Files..
Luv that kinda stuff..
Wiz always a Big Science Fiction Buff.. as a Kid..
Isaac Asizmov, wiz Ma favourite Writer.. Ah miss Him.
Nice Chatting Pal.
and
And Ah am Daeing Fine.. How’s Yersel?
Kojo
Still,Laughin’