Belle Vue National Stadium

[woofers]

What about belle vue speedway limited which had significant debts in the last filed accounts?

The 28th November 2015 Annual Return for Belle Vue Speedway Ltd shows D Gordon and C Morton as Directors.

D Gordon is shown as the only shareholder.

 

The accounts of 2014 show that the 30,000 shares of £1 are fully paid up, but the Annual Return shows only 10p per share paid with 90p per share unpaid.

 

D Gordon resigned his directorship on 31st October 2016, leaving C Morton as the sole director. Presumably D Gordon is still the only shareholder.

[waiheke1]

The 28th November 2015 Annual Return for Belle Vue Speedway Ltd shows D Gordon and C Morton as Directors.

D Gordon is shown as the only shareholder.

 

The accounts of 2014 show that the 30,000 shares of £1 are fully paid up, but the Annual Return shows only 10p per share paid with 90p per share unpaid.

 

D Gordon resigned his directorship on 31st October 2016, leaving C Morton as the sole director. Presumably D Gordon is still the only shareholder.

So gordon is presumably solely liable for the debts, unless Morton was required to offer personAl security in his role as director?

[martin_t]

So gordon is presumably solely liable for the debts, unless Morton was required to offer personAl security in his role as director?

Them Amigo loans are more trouble than they are worth.

[woofers]

Just been looking through the older documents.

Staggering losses every year since incorporation in November 2006, when Messrs Gordon, Morton and Pairman were the shareholders and directors.

Over the years Mr Gordon has bought the shares of the other two, to become the sole shareholder today.

Previous Annual Returns show the shares as fully paid up, so presumably an administrative error on the latest one regarding the 10p and 90p unpaid.

Mr Morton resigned his roles in Dec 2011 but was re-appointed in Aug 2012.

There are no legal charges registered as security against the company, and as you have pointed out in the "Profit" thread, abbreviated accounts give little detail, especially as to how the losses were being funded through the increasing Creditors balance. Also the accounts are unaudited, so the auditors don't need to comment on the 'going concern' aspect.

 

Strictly speaking, the company is a separate legal entity with limited liability and responsible for its own debts. In practice directors give personal guarantee's if required by the lender, and / or more likely the lender has a charge or first call on the assets. Interestingly the accounts show assets of £112,648 of which £92,500 are Intangible. I take this to be be Rider Assets, but not sure how these are measured or whether they can actually be turned into cash.

 

I don't think shareholders are usually liable for debts.

Edited November 16, 2016 by woofers

[Halifaxtiger]

THE thing about an editorial comment is that it is actually the view of the person who is writing it and not necessarily of the readership as a whole.

 

A editorial in the Times, Telegraph or Daily Mail probably does reflect the views of their readership because that is why they buy that particular newspaper.

 

I could probably write an editorial every week but why should the opinion of Philip Rising carry any more weight than anyone else. By previous experience, it certainly hasn't at the BSPA!

 

 

Quite simply, its better to have an editorial that highlights abuses than not have one at all(and hence seem to be complicit in or turn a blind eye to those abuses).

 

As to why it should be you, you have been in speedway for at least 50 years and have been around the top teams, promoters and stars during that time whichgives you a wealth of experience that few of us can match. I can't think of many who are better placed.

 

It really doesn't matter what the BSPA think. The Star is a magazine for the fans of the sport, not those that run it. Fair observation of decisions, actions etc by anyone within the sport - promoters, riders etc - gives it, in my view at least, all the more credibility and such editorials need not be just for the purpose of being critical but can also give the credit to those that deserve it.

 

Thats another massive kick in the teeth for the NSS...

 

The stadium was built with the promise of major events and now the World Cup has gone, and also the World U21's

 

If they cant get these meetings the track is now basically going to run in 2017 with just 18 Premiership meetings and no showcase events...

 

This doesnt help attract new promotors as there is no income to generate

 

I can see the NSS closing at the end of 2017 season

 

If there was some uncertainty about the stadium its little wonder that the big events have gone elsewhere.

 

Really? and why should they? The word "National" was only used to secure funding from MCC. If the BSPA take over the lease of the stadium and sub let it to say Alan Ham for league racing then it should be used for the flagship meatings.

 

It shouldn't have a monopoly, but................its a fantastic stadium with an equally fantastic track. Others in this country may match one or the other, but none come anywhere near both.

 

Secondly, its centrally located. Its the same distance away from Glasgow as it is from Somerset.

[Starman2006]

Really? and why should they? The word "National" was only used to secure funding from MCC. If the BSPA take over the lease of the stadium and sub let it to say Alan Ham for league racing then it should be used for the flagship meatings.

Why should that stadium have a monopoly ? Dont expect the WC every year, you wont get it..

Edited November 16, 2016 by Starman2006

[tyretrax]

Why should that stadium have a monopoly ? Dont expect the WC every year, you wont get it..

I don't think Glasgow would get the WC any year.

[Starman2006]

I don't think Glasgow would get the WC any year.

Who's talking about Glasgow. There is no way that BV are going to get it every year, it just will not happen, no matter how good the track is. Assuming they continue to run they may not see it again for another 5 years.

[waiheke1]

Who's talking about Glasgow. There is no way that BV are going to get it every year, it just will not happen, no matter how good the track is. Assuming they continue to run they may not see it again for another 5 years.

You said to tyretrax, who is a Glasgow fan, don't expect to get the swc every year?

[Starman2006]

 

 

You said to tyretrax, who is a Glasgow fan, don't expect to get the swc every year?

I dont care who he supports, im saying that BV will not get the WC every year.

[Midland Red]

LOOKING forward to Philippe responding to this excellent post:

 

Quite simply, its better to have an editorial that highlights abuses than not have one at all(and hence seem to be complicit in or turn a blind eye to those abuses).

 

As to why it should be you, you have been in speedway for at least 50 years and have been around the top teams, promoters and stars during that time whichgives you a wealth of experience that few of us can match. I can't think of many who are better placed.

 

It really doesn't matter what the BSPA think. The Star is a magazine for the fans of the sport, not those that run it. Fair observation of decisions, actions etc by anyone within the sport - promoters, riders etc - gives it, in my view at least, all the more credibility and such editorials need not be just for the purpose of being critical but can also give the credit to those that deserve it.

[Garry1603]

 

I dont care who he supports, im saying that BV will not get the WC every year.

... and that's true.

[The H Man]

From my understanding Belle Vue blew any chance of further "BSI related" events due to a number of behind the scenes failures at the 2016 SWC!

[New Science]

 

Quite simply, its better to have an editorial that highlights abuses than not have one at all(and hence seem to be complicit in or turn a blind eye to those abuses).

 

As to why it should be you, you have been in speedway for at least 50 years and have been around the top teams, promoters and stars during that time whichgives you a wealth of experience that few of us can match. I can't think of many who are better placed.

 

It really doesn't matter what the BSPA think. The Star is a magazine for the fans of the sport, not those that run it. Fair observation of decisions, actions etc by anyone within the sport - promoters, riders etc - gives it, in my view at least, all the more credibility and such editorials need not be just for the purpose of being critical but can also give the credit to those that deserve it.

 

 

If there was some uncertainty about the stadium its little wonder that the big events have gone elsewhere.

 

 

It shouldn't have a monopoly, but................its a fantastic stadium with an equally fantastic track. Others in this country may match one or the other, but none come anywhere near both.

 

Secondly, its centrally located. Its the same distance away from Glasgow as it is from Somerset.

The problem with the Editorial at the Speedway Star is they are a little too close to their subjects. We had this with the Warsaw GP 2 years ago. Everybody blames everybody else and the Star pretty much goes along with it. Similarly with the fiasco in Manchester,everybody blames everybody else and the Star doesn't really nail its colours to the post. Yes Manchester council may have been negligent in their preparation of the track but the promoters were aware of this when they tried to run the opening meeting which was wrong, just print it how it is. Unfortunately the close relationship Speedway Star enjoys with the F.I.M , B.S.I and some promoters in British speedway gives these parties a ' get out of jail card ' in print when the flak starts flying and people are looking for answers.

[Tsunami]

So gordon is presumably solely liable for the debts, unless Morton was required to offer personAl security in his role as director?

It was reported early on that Chris Morton had lost his house though it.

[Halifaxtiger]

The problem with the Editorial at the Speedway Star is they are a little too close to their subjects. We had this with the Warsaw GP 2 years ago. Everybody blames everybody else and the Star pretty much goes along with it. Similarly with the fiasco in Manchester,everybody blames everybody else and the Star doesn't really nail its colours to the post. Yes Manchester council may have been negligent in their preparation of the track but the promoters were aware of this when they tried to run the opening meeting which was wrong, just print it how it is. Unfortunately the close relationship Speedway Star enjoys with the F.I.M , B.S.I and some promoters in British speedway gives these parties a ' get out of jail card ' in print when the flak starts flying and people are looking for answers.

 

I think you might well be right.

 

I can't help but think that they'd be more credible if they were more in bed with the fans (ie those that read the Star) than the management.

Edited November 17, 2016 by Halifaxtiger

[PHILIPRISING]

LOOKING forward to Philippe responding to this excellent post:

 

Quite simply, its better to have an editorial that highlights abuses than not have one at all(and hence seem to be complicit in or turn a blind eye to those abuses).

 

As to why it should be you, you have been in speedway for at least 50 years and have been around the top teams, promoters and stars during that time whichgives you a wealth of experience that few of us can match. I can't think of many who are better placed.

 

It really doesn't matter what the BSPA think. The Star is a magazine for the fans of the sport, not those that run it. Fair observation of decisions, actions etc by anyone within the sport - promoters, riders etc - gives it, in my view at least, all the more credibility and such editorials need not be just for the purpose of being critical but can also give the credit to those that deserve it.

HAVE actually written quite a few 'editorials' (In My View) over the past few months and I don't think you will find any that toe the BSPA line.

[Humphrey Appleby]

I can't help but think that they'd be more credible if they were more in bed with the fans (ie those that read the Star) than the management.

They should take a balanced view - critical of the sport when it deserves it, but try to better explain to fans the realities and difficulties of running the sport.

 

At the moment though, there's far too much cosying up to the 'establishment' position - the Melbourne GP being a notorious example.

[Lord Skid]

Never bite the hand that feeds you, SS is just a BSPA newsletter.

[PHILIPRISING]

Never bite the hand that feeds you, SS is just a BSPA newsletter.

DO you actually read Speedway Star?