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SALFORD CITY REDS COMPANY TO BE STRUCK OFF
 

Star date: 6th December 2012 

A Salford Star Exclusive

NOW COMPANIES HOUSE GIVES NOTICE THAT SALFORD REDS COMPANY WHICH OWES £1MILLION TO SALFORD COUNCIL WILL BE DISSOLVED

In the latest horror show to emanate from Barton, Companies House, the Government body which regulates all companies in the UK, has issued a `Proposal to Strike Off', ie dissolve, the parent company of Salford City Reds, Salford Football Club Company (1914) Ltd. This is the company to which Salford Council has given a £1million loan.

Full details here…


Last week, 27th November, Companies House issued a notice that Salford Football Club Company (1914) Ltd will be struck off and dissolved within three months, "unless cause is shown to the contrary".

The Company was due to submit its accounts to Companies House by 31st August this year but has so far refused to do so. Indeed, it's almost two years since the Company submitted any accounts.

Salford Football Club Company (1914) Ltd is the company to which Salford City Council gave a £1million loan in April 2011. Documents submitted to Companies House in relation to that loan show that the only security put up by the actual company was a `Letter of Pledge' signing over six Harold Riley paintings to the Council.

According to the loan contract obtained by Salford Star, the other security was a `third party legal charge' on publicly unspecified property owned by Godliman Watson Homes and personal guarantees from publicly unspecified people, who we understand are club directors.

The Salford Reds company now has less than three months to produce its accounts or be dissolved. It also faces a Winding Up Petition on January 7th, brought by ex players and HM Revenue and Customs for in the region of £100,000 (see here).

As Salford Council prepares to provide another loan facility of £750,000 for the rugby club, confusion reigns over how many loans Salford City Reds have actually been given by Salford Council in the past.

Conservative councillor and opposition leader, Karen Garrido, claims that loans totalling  £2.2million have been given to the club, as opposed to the £1.35million that Salford Star has proved.

Even over part of the £1.35million loans something doesn't appear right. In answer to a Salford Star question, the then Salford City Council Leader, John Merry confirmed that in 2009 the Council had given the Reds a £350,000 loan…

"We're committed to ensuring the club sees its way into 2012 at its new stadium, and last year we provided a loan of £350,000 to them to help do this"
he said (see here).

However in answer to a Freedom of Information request in December 2009 as to how many loans the Council had given out, it replied that it had only given out loans for £240,000 to "sports and leisure organisations" (see here). A £110,00 difference...

With the Council poised to offer another huge loan of public money to the Salford Reds, and with an apparent lack of transparency over past financial dealings with the rugby club, calls are growing for an open inquiry. The Salford Star has written to the District Auditoror `Engagement Lead' as he's now calledto investigate, and is awaiting a response.

Meanwhile, Salford City Reds has until January 7th to stop the Winding Up Petition, and until the end of February 2013 to produce its accounts or Companies House is set to dissolve the company.

STOP PRESS…

Since this article appeared on the Salford Star website this morning, Salford Football Club Company (1914) Ltd has now, incredibly, produced the accounts for Companies House, and the `Strike Off' has been, er, struck off.

Great to know that the Salford Reds directors read the Salford Star! Perhaps they would now like to tell us how much money they've had from Salford Council over the last few years?

UPDATE: 7TH DECEMBER - SALFORD COUNCIL LOANS REVEALED - click here

See also previous Salford Star article - Salford Council To Bail Out Salford Reds - click here

mary ferrer wrote
at 8:23:58 AM on Sunday, December 9, 2012
Adar,what bloody planet are you on. Salford Reds have been having handouts from Salford Labour Council for years and the City has built a Stadium at a cost to the people of this city of £22million that we will be paying back for years. And you who ever you are think its ok to keep on bank rolling them because 3000 fans will suffer if it falls.This city is on its knees,services are being cut,jobs been lost and this will carry on happening for some years yet.Think this council has better things to spend its money on.This might be a daft question but when SWINTON Rugby club were in trouble where were Salford Labour Council then. Oh forgot Mr Lancaster and his mates were not big mates with the chairman and the chairman hadn't been very generous with his money,that £10.000 he gave Ms Blears has been a very wise move. So I would like to say a very BIG thank you to Stephen Kingston and the Salford Star for doing a fantastic story, I just wish it was out there in print. Oh forgot the council changed the gate post when it came to funding community projects like the Star. Wonder why????
 
B R Stines wrote
at 4:15:19 AM on Sunday, December 9, 2012
I don't care about some rich bastards toy club . We need to save Salford from Salford Clowncil . Spicer OUT Stewart OUT Lancaster OUT Merry OUT And the rest of the traitorous gang of inept parasites OUT OUT OUT .
 
Adar Molyneux wrote
at 2:14:15 AM on Sunday, December 9, 2012
OK so this paper has done some investigative journalism. Now what?? Do you want the club dead or something which will hurt 3000-4000 supporters or a genuine hope for the club to turn around Stephen?
 
Adar Molyneux wrote
at 2:12:18 AM on Sunday, December 9, 2012
Mike Donigan - classic tale of a "Salfordian" who lacks a cultural brain. You too a glory hunter of clubs from the rival citeh??? LOL Labour? Pfttt, they are the ones who has sold Salford down the ship canal mate!
 
Winston Smith wrote
at 9:40:44 AM on Saturday, December 8, 2012
The Mayor seems a bit slow off the mark with this one - by now I would have expected him to be blaming the coalition for Labour's decision to blow £3million on a failing business. Never mind Mr Mayor, console yourself by blowing another half million on a pea farm. Labourtypicalcashsquander, as the Mayor might say.
 
Mike Donigan wrote
at 5:36:18 AM on Saturday, December 8, 2012
Adar , I find your comments quite pathetic. Nobody is obliged to support any form of sports club and given that you suggest people have been offered free tickets and still not attended games i can only see this as an indication that they are really not interested. Salford people are not fickle as you rudely insult them to be , they are as intelligent as any other citizen and quite capable of deciding if they do or do not want to support a rugby club. In my opinion the council should make every effort to consider this lack of interest from the majority of salford residents and scrap any thought of investing more money into this failing business. Mike Donigan, Secretary, Eccles Labour.
 
Odear wrote
at 5:36:13 AM on Saturday, December 8, 2012
Adar Molyneux wrote at 12:29:42 AM on Saturday, December 08, 2012 "Who's fault is that then Odear?? Did YOU ever attend games??" No because i am part of the majority who have no interest in rugby, they can advertise all they want but they like you don't seem to understand the vast majority of Salford people are not interested in rugby. As for free tix, not really free are they, when we as taxpayers are funding the club. Your view as a fan of the company is clearly biased, unless you honestly belive that all poorly run companies should be propped up with public money just like the last government did with the banks!
 
W. Oak . wrote
at 5:35:38 AM on Saturday, December 8, 2012
Adar M . You should be more interested into why the arrogant council cretins squander taxpayers money on a sports organisation ! Council tax is extorted to benefit the residents of this city , not some sports club . I demand every councillor involved in wasting OUR money in this way be made personally responsible for returning same to this city's ripped-off taxpayers . This is a scandal .
 
Adar Molyneux wrote
at 12:29:42 AM on Saturday, December 8, 2012
Who's fault is that then Odear?? Did YOU ever attend games?? As far as I'm aware the club did everything to promote themselves with posters, ads on radio, in the Reporter/Advertiser plus free tix given to Primary Schools yet still too hard for them to get to a game! Salford = Apathy Central!!
 
carolinegray wrote
at 12:29:35 AM on Saturday, December 8, 2012
so the fiddling goes on.. that what it looks like..?it is a disgrace..How about they use the money to undo the damage to Bindloss even if we cannot afford to live there any more..due to councils..? it could be used for good...Seems to do good.you get destroyed
 
odear wrote
at 1:23:58 PM on Friday, December 7, 2012
Adar Molyneux, Salford don't have the support because the vast majority of people in this city have no interest in rugby. That is what makes the councils loans to the club a scandal, public money should be spent for the greater good of all who live in this city not just 9,000 people who support 1 team (or should that be company).
 
DISGRACE wrote
at 1:23:38 PM on Friday, December 7, 2012
I'M NOT INTERESTED IN THE CLUB . I AM VERY INTERESTED INTO WHY THE ARROGANT CLOWNCIL CRETINS THINK THEY HAVE THE RIGHT TO SQUANDER TAXPAYERS MONEY ON SOME DAMNED CLUB . EVERY SALFORD CLOWNCIL CRETIN INVOLVED IN THESE IDIOTIC DECISIONS TO ARROGANTLY TOSS OUR MONEY AWAY SHOULD BE PERSONALLY RESPONSIBLE IN REFUNDING THE TAXPAYERS .
 
Adar Molyneux wrote
at 8:08:50 AM on Friday, December 7, 2012
If the SALFORD PUBLIC got off their lazy behinds and SUPPORTED the club then none of this would ever have happened! Salford people are fickle. They go on and on about "protecting our identity from Manchester" yet most support one of the 2 wendyball clubs from across the river/Quays!! Deal with it!
 
Adar Molyneux wrote
at 8:08:31 AM on Friday, December 7, 2012
STOP PRESS… Since this article appeared on the Salford Star website this morning, Salford Football Club Company (1914) Ltd has now, incredibly, produced the accounts for Companies House, and the `Strike Off’ has been, er, struck off. Great to know that the Salford Reds directors read the Salford Star! Perhaps they would now like to tell us how much money they’ve had from Salford Council over the last few years? ---------------------------------------------- Maybe time to remove this article then???
 
Salford Star wrote
at 3:15:35 PM on Thursday, December 6, 2012
See Millsy comment below...nice to know that Salford Star is having an effect - they suddenly sent them in after the article went up today. Although at present no-one can see them!
 
Millsy wrote
at 3:09:58 PM on Thursday, December 6, 2012
A check at Companies House now shows that the 2011 accounts have been filed so the Dissolution Notice no longer apples
 
mary ferrer wrote
at 7:58:44 AM on Thursday, December 6, 2012
Karen Garrido has got it right. There again there could be more we DON'T know about. First loan I heard about was the one for £1MILLION back in 2008/09 thats the one with the Harold Riley paintings and the Directors security on the loan. Next one was the £350.000 back in 2010/11 then the one by the back door (buying the lease on car park) £250.000) The plot gets thicker. Good job your on the ball Steve. Keep up the good work. Always said this would come back and bite them on the bum.
 
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