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30th May, 2016.
OFFICIAL RECEIVER GIVES UP BENEFICIAL USE IN SHARES HELD BY HELEN GAVAGHAN IN SCIENCE, PEOPLE AND POLITICS LTD. CO. NO. 0590-1911.
1. On 25th May, 2016 the Leeds-based office of the Official Receiver's Office, in exchange for a postal order of £1.00, gave up beneficial use of the 9 shares in Helen Gavaghan's name on the share register of Science, People and Politics Ltd, which the Official Receiver's Office has held since 8th November, 2006. The official receiver now has no beneficial use in Science, People and Politics Ltd. The company has no other obligations beyond Company Law. The company has never been bankrupt, never needed to seek annulment of a bankruptcy order, and has never to date been fined by either HMRC or Companys House.
2. Science, People and Politics Ltd is limited by shares and has company number 0590-1911, and is registered in England. The registered office address of the company is 165 Longfellow Court, Mytholmroyd, HX7 5LG, UK.
3. On 25th August 2015 a signed copy of a shareholders' agreement, signed by all three shareholders in Science, People and Politics Ltd., was placed in the company record. That document affirms the shares are held 80 percent by Helen Gavaghan, 10 percent by Fred Pearce and 10 percent by Martin Redfern. That division of shares was proposed by Helen Gavaghan, and reached after an adjustment of shares in a manner suggested by Helen Gavaghan, and with full intent to protect the interests of then sole minority shareholder, Fred Pearce.
4. On 8th September 2015 Helen Gavaghan, as the company's acting executive director, sold Science, People & Politics (ISSN 1751-598x 0nline), owned off balance sheet by the company, for £1.00 to Gavaghan Communications.
5. On 9th September 2015, as acting executive director of Science, People and Politics Ltd., Helen Gavaghan, on behalf of Science, People and Politics Ltd., bought the magazine, Science, People & Politics from Gavaghan Communications for Science, People and Politics Ltd. for £1.00 (0ne pound only - clarification post publication), and by that transaction moved the magazine onto the company balance sheet.
6. The transaction which made Science, People and Politics Ltd. a visible item on the balance sheet will be publicly visible as such when the company files its abbreviated accounts for 2016. In the meantime, the existence of the transaction is recorded in the company's in house files, and publicly reported in the notes attached to the assets section of the company's abbreviated accounts for 2015, which were filed on 29th May, 2016.
7. In a note deposited with the company's records on 29th May, 2016 the shareholders of Science, People and Politics Ltd, co. No. 0590-1911 formally confirmed Helen Gavaghan as executive company director of Science, People and Politics Ltd. On the same day Companys House accepted the abbreviated accounts for 2015 for Science, People and Politics Ltd.
8. The note confirms Helen Gavaghan as executive Company director from 1st September, 2015, and is a director's contract. The note confirms Helen Gavaghan is to be paid £800 per annum plus VAT for three days work per year (correction - year. Per Year - HG). Those three days are to be spent maintaining the Company's in house records in an orderly and accessible mannner in digital and paper format, reviewing the record to date, ensuring all relevant associated material is noted and/or included in the company record. She is also to continue filing annual returns and company accounts, setting strategy, monitoring capacity and finance options, defending and making public the company, and is instructed to demonstrate an understanding of Company accounts.
9. Transactions which have been made out of shareholder funds to pay Helen Gavaghan as publisher prior to 29th May 2016 to enhance the value of the company have been covered by Helen Gavaghan making a director's loan which was immediately written off personally. The payment to Helen Gavaghan as Gavaghan Communications was demonstrated by Helen Gavaghan paying VAT, recorded in Helen Gavaghan's VAT accounts. The company will acquire no debt in order to pay Helen Gavaghan for her work. Rather the work will be paid for by the three current shareholders, if and when the company is sold at a profit to them, and which gives them a profit after they have had stopped from their profit the money, pro rata, which pays Helen Gavaghan for her work. That is, the money is not current to Helen Gavaghan.
10. Science, People and Politics Ltd files abbreviated rather than dormant accounts, because in 2007-08 the company filed trading accounts with HMRC, under the directorship of Fred Pearce, which accounts showed a loss of £28.70 pence. When the company begins trading it will thus have a loss of £28.70 on the books.
11. Science, People and Politics Ltd. will become trading only when it has the necessary capacity to become an additional tax payer.
12. Had it been necessary on 29th May 2016 for the company to prepare an inter, reporting-period balance sheet the company would have shown all shares paid up. The 2016 AR will show shares fully paid up. The date on which all shares were paid up was 29th May, 2016 at 23.59 pm BST. The 2016 company accounts for Science People and Politics Ltd, as of 29th May, 2016, will show until further notice no trading, and balance-sheet tangible assets of £970. The publisher is willing and able to pay £200 cash for books accounting for £200.00 worth of the company's assets if the company needs that cash. The second tangible asset is the magazine Science, People & Politics, which by 31st August 2016 is predicted to have appreciated in value by £769.00. If the company needs that cash the current shareholders would be invited first to buy the magazine, each paying an equal amount, and forming a partnership to manage the magazine, making equal effort in time and expertise.
13. The intangible asset is access to the publisher's website, which has carried Google adverts, which have generated £29.00 of revenue, blocked by Google because it falls under their £60 threshold. As of now Google advertising is not a planned revenue stream for Gavaghan Communications. Nevertheless the goodwill is extended by the publisher to the company in case the company decides to use Google Ads to generate revenue. That is not the company's current intent, and the company reserves to itself the right to decide if, when, or ever to make that choice, and as of today, 30th May, 2016, views Google ads as a depreciating factor in the value of its goodwill, thus wholly justifying the projection that its intangible asset of website access will be worth only £30 on 31st August, 2016.
14. Any effort by third parties to force, encourage, entice, or co-erce, or influence Science, People and Politics Ltd., its executive director, the magazine it owns, the publisher of its magazine, or the website owner, creator and manager of the domains where the company's magazine appears, to learn about or adopt Google advertising or analytics would, as of today 30th May 2016, be viewed as bad faith, unwelcome and damaging to business relationships.
15. The public record for private company, Science, People and Politics Ltd., can be bought at a cost of £1.00 per document from Companys House. The private record may be inspected by law and prior arrangement. The inspection would be supervised by Helen Gavaghan, executive director, and Gavaghan Communications, a sole tradership providing editorial services, would, on behalf of the company, charge a flat rate of £150.00 plus VAT to make the record accessible, and to cover the cost of spending up to 4 hours with the records on the premises of the company's registered office address. Alternatively arrangements can be made to send the records to a solicitor and/or accountant using special delivery both ways. Alternatively an itemised list of documents, their nature and date, could be sent to a solicitor and/or accountant together with a list of the books owned as a tangible asset by the company, and listing their resale and replacement value. Accounts can be presented justifying easily a valuation of £769.00 for the magazine owned by the company. Thus as executive director I have no qualms in asserting the value of the company is £1000.00 cash, and that it does not yet have the capacity to trade.
16. Prior to 29th May, 2016 there was no director's contract in existence. During the directorship of Fred Pearce, the Company Secretary and executive officer was financial accountant, Adrian Broadbent, of Halifax, West Yorkshire, UK. The executive director, Helen Gavaghan, holds no director's insurance, and held none as acting executive director.
I would like to thank a number of chartered, chartered certified and financial accountants, fully qualified and in training, for informally making sufficient of their expertise available to me gratis to keep me out of jail.
Helen Gavaghan, executive director of Science, People and politics Ltd., Co. No. 0590-1911, registered in England. Registered office address 165 Longfellow Court, HX7 5LG, UK. T: +44 1422 886015. E: firstname.lastname@example.org
Some irritating typos above altered post publication. You're weren't seeing things! HG
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