[Archived] Statement of Capital

[Miker]

I'd like to direct people's attention to the latest document filed at Companies House in relation to the club.

It is a statement of capital, similar to the one filed by Venky's London Pty Ltd a month earlier (for 39,070,000 British pounds).

The statement of capital states that share capital of 143,988,454 British Pounds has been declared under the club's name and lists all shareholders.

Anyone care to elaborate?

[TugaysMarlboro]

Haven't got a clue if that's good, bad or indifferent.

[thenonda]

isnt that in relation to the £1 shares venkys bought @ 21pence or whatever it was each?

[AndyNeil]

its just the Annual Return which is submitted each year... the purpose of the AR01 is to show the Director details of the Limited Company along with various information relating to the shares held in the name of the Limited Company.

[Stuart]

its just the Annual Return which is submitted each year... the purpose of the AR01 is to show the Director details of the Limited Company along with various information relating to the shares held in the name of the Limited Company.

Does that mean it's a good thing, a bad thing, or a non-event?

[Atomicrover]

Where the hell is Philipl when you need him?

[Wiggy]

Surely part of it's the £100 million or so that Jack Walker had loaned the club and then turned into share capital in order to get it off the balance sheet.

[little_joe50]

Has share cap changed since last year? If not, then non-event.

[Herbie6590]

Non event....

http://www.company-wizard.co.uk/help/company_registration_part_3.aspx

It means that Authorised Share Capital has increased but not necessarily Paid Up capital.

"2. Amount paid/unpaid on shares

Shares can be issued without being fully paid up. This may allow the company to call for payment at a later date. Shares can also be issued and considered as paid up without any monetary transaction. "

In other words, they have given themselves the ability to increase share capital - it does not mean that they have backed it up with cold, hard cash.

[Wiggy]

In the 2008- 2010 accounts the called up share capital was £ 133,988.454, which was mainly due to the Walkers effectively writing off the debt to them in the form of share capital.

The Venky's were obliged to inject £10,000,000 as part of their offer hence the figure £ 143,988.454.

Doesn't change anything in itself.Just paper.

There's still plenty to worry about.

[philipl]

Venky's were supposed to inject £15m....

[iacok]

What is to stop them injecting £10/15 million and then taking it out the next day? Answer. Nothing!

[JC4LAB]

The June 2011 accounts should be filed and available for public download from Companies House by 31st December as that is the filing deadline ie.the end of this month unless they have already been published somewhere in the meantime....