LeJuge 0 Posted September 10, 2011 Registered at Carrow Road, directors are David McNally and Michael Foulger, secretaries are Neil Doncaster and Samantha Gordon (who is also the club secretary). The exact same four are listed in the same roles for N.C.F.C. (Holdings) Limited. What do these businesses do, and why are their finances kept apart from those of the football club? Share this post Link to post Share on other sites
Browno 36 Posted September 10, 2011 Previous NameLEGISLATOR 1684 LIMITEDDirector DetailsName: Mr Stephan John PhillipsDate of Birth: 1955/03Postcode: NR1 1JENationality: UnknownCurrent Appointments: 2Previous Appointments:Name: Mr Stephen John FryDate of Birth: 1957/08Postcode: NW8 0DLNationality: UnknownCurrent Appointments: 14Previous Appointments: 1http://wck2.companieshouse.gov.uk/030515bd543a95558c00a0162c6db6ff/compdetails Share this post Link to post Share on other sites
norfolkbroadslim 223 Posted September 10, 2011 http://www.inthehandsofthefans.co.uk/Images/Uploads/AnnualReport2010.pdf Kerrison Developments Limited, Kerrison Holdings Limited & Kerrison Hotel Limited - The principal activity of the joint venture company is to manage a hotel at Carrow Road, Norwich "Subsidiary undertakingsThe subsidiary undertakings, which were incorporated in England and Wales and are included within theconsolidated financial statements at 31 May 2010, are as follows:Company % owned Principal ActivityN.C.F.C. (Holdings) Limited 100% Property holding companyKerrison Holdings Limited 100% Provision of car park facilities and property developmentKerrison Developments Limited 100% Interest in joint ventureAssociated undertakingNorwich City Football Club PLC owns 24.9% of the shares in EventGuard Limited.Joint ventureThe interest in the joint venture, Kerrison Hotel Limited, comprises £2 (2009: £2) of share capital and £644,000(2009: £640,000) share of post acquisition profits and unrealised gains of the company. The financial statements ofKerrison Hotel Limited are made up to 31 March 2010.The investment represents 100% of the issued ''A'' ordinary share capital of the joint venture. Norwich City FootballClub PLC does not have any interest in the ''B'' ordinary share capital of the joint venture.In accordance with the joint venture agreement, the income and profits are apportioned between the ''A'' and ''B''ordinary shareholders in the ratio of 30% and 70% respectively.The principal activity of the joint venture company is to manage a hotel at Carrow Road, Norwich." Share this post Link to post Share on other sites
norfolkbroadslim 223 Posted September 10, 2011 [quote user="norfolkbroadslim"]http://www.inthehandsofthefans.co.uk/Images/Uploads/AnnualReport2010.pdf Kerrison Developments Limited, Kerrison Holdings Limited & Kerrison Hotel Limited - The principal activity of the joint venture company is to manage a hotel at Carrow Road, Norwich "Subsidiary undertakingsThe subsidiary undertakings, which were incorporated in England and Wales and are included within theconsolidated financial statements at 31 May 2010, are as follows:Company % owned Principal ActivityN.C.F.C. (Holdings) Limited 100% Property holding companyKerrison Holdings Limited 100% Provision of car park facilities and property developmentKerrison Developments Limited 100% Interest in joint ventureAssociated undertakingNorwich City Football Club PLC owns 24.9% of the shares in EventGuard Limited.Joint ventureThe interest in the joint venture, Kerrison Hotel Limited, comprises £2 (2009: £2) of share capital and £644,000(2009: £640,000) share of post acquisition profits and unrealised gains of the company. The financial statements ofKerrison Hotel Limited are made up to 31 March 2010.The investment represents 100% of the issued ''A'' ordinary share capital of the joint venture. Norwich City FootballClub PLC does not have any interest in the ''B'' ordinary share capital of the joint venture.In accordance with the joint venture agreement, the income and profits are apportioned between the ''A'' and ''B''ordinary shareholders in the ratio of 30% and 70% respectively.The principal activity of the joint venture company is to manage a hotel at Carrow Road, Norwich."[/quote] I didnn''t make this very clear - the point I highlighted in red above applies to Kerrison Developments Limited - 100% interest in joint venture (i.e.management of the hotel at Carrow Road). Share this post Link to post Share on other sites
Yorkshire Canary 118 Posted September 10, 2011 Toy shop Share this post Link to post Share on other sites
clarkey1972 0 Posted September 10, 2011 how can they have 100% of a JV?? Share this post Link to post Share on other sites
Davo 0 Posted September 10, 2011 The reason for keeping the finances seperate is probably to do with limited liability. If the hotel gets into financial trouble then no money can be claimed from the Club for the hotels debts.There maybe other reasons but this is standard practice for many businesses to keep their side ventures as a different business. The business I work for is a PLC but that one PLC comprises of about 20 or so different Ltd companies.Davo Share this post Link to post Share on other sites