Companies House

HardyAddick · May 2016

The companies house website shows 4 mortgages statisfied on 30 April 2016 for Charlton Athletic Holdings Limited. I cannot see what they relate to. Maybe Airman knows?

Henry Irving · May 2016

North stand/Covered end development finally paid off i assume

TelMc32 · May 2016

https://beta.companieshouse.gov.uk/company/02689249/filing-history

Details on the above link. Relate to The Valley, Sparrows Lane, Land on the NW side of Lansdowne Mews and the Pippenhall Sports Ground in Southend Crescent SE9

HardyAddick · May 2016

Thanks. Looks like the Lombard loan(s) as its mentioned on one of those documents Tel.

Six-a-bag-of-nuts · May 2016

The mortgages are on the Valley, Woolwich Common, Winns Common and Siemens Meadow, as we look to proportionately downsize over the coming decade to reflect our fanbase.
An assurance has been given that the sofa will follow us and the really exciting news is that some lost footage of a couple of the founders having a fag* and a fumble on Siemens meadow has emerged and will be used to promote out of season pitch hire.
*Edit: *fag = UK slang for cigarette :-)

Missed It · May 2016

Are these paid off on schedule or is this an early settlement of the debt? Is Duchatelet clearing these debts with Staprix loans to CAFC before the club are officially in League One and subject to the different rules on loan/equity investment?

Alwaysneil · May 2016

This would not surprise me.

WrightCharlie · May 2016

Missed It said:
Are these paid off on schedule or is this an early settlement of the debt? Is Duchatelet clearing these debts with Staprix loans to CAFC before the club are officially in League One and subject to the different rules on loan/equity investment?

It can't be, don't you remember, they haven't been preparing for League 1

LargeAddick · May 2016

I thought the only mortgage outstanding was one on the North Stand and that was paid off a while ago?

RedChaser · May 2016

From the concurrent POTY thread;

Airman Brown
3:00PM
HardyAddick said:
The companies house website shows 4 mortgages statisfied on 30 April for Charlton Athletic Holdings Limited. I cannot see what they relate to. Maybe Airman knows?

Thanks. The bank loan for the north stand has been paid down so the charges relating to that should now have been released. But I'll have a look.

Airman Brown · May 2016

It is the bank charges on The Valley & Sparrows Lane. Just takes a time to be released. The debt was due to be paid down in 15/16 (confirmed in 14/15 accounts) so not news. One of them is on land north-west of Lansdowne Mews, which I assume is the Bartram Gate and is shown separately because it was added to The Valley in the 1930s. Presumably it can't be the land sold there in 2010.

This means the £7m loan note holders now hold the first legal charge on the assets, a useful inconvenience for Duchatelet.

Rob7Lee · May 2016

Airman Brown said:

This means the £7m loan note holders now hold the first legal charge on the assets, a useful inconvenience for Duchatelet.

Is it that inconvenient, other than the cost, he could of course just pay them off at any point I guess?

Henry Irving · May 2016

Rob7Lee said:

Airman Brown said:

This means the £7m loan note holders now hold the first legal charge on the assets, a useful inconvenience for Duchatelet.
Is it that inconvenient, other than the cost, he could of course just pay them off at any point I guess?

Only if they are willing to be paid off and at a rate that suits them.

He could offer them the full 100% but would cost him £7m (obviously).

Not insurmountable for RD but as airman say an inconvenience.

better red than dead · May 2016

WrightCharlie said:

Missed It said:
Are these paid off on schedule or is this an early settlement of the debt? Is Duchatelet clearing these debts with Staprix loans to CAFC before the club are officially in League One and subject to the different rules on loan/equity investment?
It can't be, don't you remember, they haven't been preparing for League 1

No, they aren't that ambitious.

Rob7Lee · May 2016

Henry Irving said:

Rob7Lee said:

Airman Brown said:

This means the £7m loan note holders now hold the first legal charge on the assets, a useful inconvenience for Duchatelet.
Is it that inconvenient, other than the cost, he could of course just pay them off at any point I guess?
Only if they are willing to be paid off and at a rate that suits them.

He could offer them the full 100% but would cost him £7m (obviously).

Not insurmountable for RD but as airman say an inconvenience.

Agreed, it just concerns me how many people see these loans as a security blanket around assets whereas although I've not seen the terms of the loans I'd expect for £7m RD can simply pay them off if he so desired and own the assets 100% and do as he likes with them.

cafcfan · May 2016

Rob7Lee said:

Henry Irving said:

Rob7Lee said:

Airman Brown said:

This means the £7m loan note holders now hold the first legal charge on the assets, a useful inconvenience for Duchatelet.
Is it that inconvenient, other than the cost, he could of course just pay them off at any point I guess?
Only if they are willing to be paid off and at a rate that suits them.

He could offer them the full 100% but would cost him £7m (obviously).

Not insurmountable for RD but as airman say an inconvenience.
Agreed, it just concerns me how many people see these loans as a security blanket around assets whereas although I've not seen the terms of the loans I'd expect for £7m RD can simply pay them off if he so desired and own the assets 100% and do as he likes with them.

I don't recall anybody suggesting that, so I don't think you need to be concerned.

Airman Brown · May 2016

Rob7Lee said:

Henry Irving said:

Rob7Lee said:

Airman Brown said:

This means the £7m loan note holders now hold the first legal charge on the assets, a useful inconvenience for Duchatelet.
Is it that inconvenient, other than the cost, he could of course just pay them off at any point I guess?
Only if they are willing to be paid off and at a rate that suits them.

He could offer them the full 100% but would cost him £7m (obviously).

Not insurmountable for RD but as airman say an inconvenience.
Agreed, it just concerns me how many people see these loans as a security blanket around assets whereas although I've not seen the terms of the loans I'd expect for £7m RD can simply pay them off if he so desired and own the assets 100% and do as he likes with them.

Well, he can't, because of the planning regime. But if the ground is worth, say, £20m, then £7m is still a big hole in your capital receipt if you decide to sell it off. And if he tries to wind the business up, the terms say that he has to pay the £7m out first before he gets anything against Staprix loans, making it £7m more difficult to cover his losses, which he won't be able to do.

sammy391 · May 2016

Another "satisfaction of charge" posted the other day - any ideas?
https://beta.companieshouse.gov.uk/company/02689249/filing-history

LargeAddick · May 2016

sammy391 said:
Another "satisfaction of charge" posted the other day - any ideas?
https://beta.companieshouse.gov.uk/company/02689249/filing-history

There is a PDF link to it but I don't fully understand what it is alluding to.

LuckyReds · May 2016

LargeAddick said:

sammy391 said:
Another "satisfaction of charge" posted the other day - any ideas?
https://beta.companieshouse.gov.uk/company/02689249/filing-history
There is a PDF link to it but I don't fully understand what it is alluding to.

It's the final money owed to "Lombard North Central PLC". It was originally created in October 2001, and represents the final charge owed to LNC PLC. Money owed due to the development of the North Stand?

If you view the charges on Companies House - https://beta.companieshouse.gov.uk/company/02689249/charges - you can see which have been settled, and the dates. Skimming that data shows that the outstanding agreements now are:

Debentures:
- Midland Bank PLC (June 1999)
- 56 Developments LLP (March 09)
- Richard Murray (March 09)
- Sir Maurice Hatter (June 09)
- David White (Sept 09)
- David Sumners (Sept 09)
- David Hughes (Sept 09)

Mortgages:
- Midlands Bank PLC (June 1999)

So there would still be a lot of people (1 Bank, 1 Company, 5 Individuals) with a claim to money should Roland wish to gain from any of the existing assets at Floyd Road?

johnnyhumphrey · May 2016

Correct. The charges may show the maximum sum due to each creditor. Midland Bank(HSBC) will be there as there is an overdraft faciltity permanently in place,no idea though re 56 Developments.

LuckyReds · May 2016

johnnyhumphrey said:
Correct. The charges may show the maximum sum due to each creditor. Midland Bank(HSBC) will be there as there is an overdraft faciltity permanently in place,no idea though re 56 Developments.

I'd never really heard them mentioned before at all. 56 Developments LLP appears to be a "family investment fund", ran by Bob Whitehand (on behalf of the Whitehand's) who was involved with Peter Varney's reign as CEO. He looks to be quite an interesting chap himself.

Rather frustratingly, all the paperwork registering the charges/debentures simply define the amount as "The amount secured is the "Secured Liabilities" defined as'..." - making actual figures difficult to get.

Airman Brown · May 2016

LuckyReds said:

johnnyhumphrey said:
Correct. The charges may show the maximum sum due to each creditor. Midland Bank(HSBC) will be there as there is an overdraft faciltity permanently in place,no idea though re 56 Developments.
I'd never really heard them mentioned before at all. 56 Developments LLP appears to be a "family investment fund", ran by Bob Whitehand (on behalf of the Whitehand's) who was involved with Peter Varney's reign as CEO. He looks to be quite an interesting chap himself.

Rather frustratingly, all the paperwork registering the charges/debentures simply define the amount as "The amount secured is the "Secured Liabilities" defined as'..." - making actual figures difficult to get.

Here you go: