Re: THE REAL PROBLEM AT STAINES

By allen b25/1/2020 11:20Sat Jan 25 11:20:55 2020In response to Re: THE REAL PROBLEM AT STAINES

Views: 3174

To correct a few inaccuracies:

"...lose literally millions each year" operating losses for the last 3 years for which accounts are available were £147k, £181k and £66k

Money is being transferred out of the business ..... to PEOPLE who run the Thames Club

Fees went to Downing LLP, which is owned by 5 partners. This is the ultimate owner of TC and has provided finance. Fees also went to RFL Management which has more than 1 partner

No one Director has overall control of TC so would need the approval of others to make these transfers

"Thames Club is financed by Downing LLP (correct) .. who are Downings investors? ...likely retail investors, normal working people ploughing there hard earned money...." Wrong Downing LLP is a limited partnership whose capital is provided by 5 partners. True there is another Downing company called Downing EIS that has retail investors, but all finance for Downing LLP has been provided by the 5 partners.

"... £3m loan (correct) ...... from Downing LLP unsuspecting investors" Downing LLP has 5 investors, ie the partners who, I am sure, are not unsuspecting.

I hope this clears up the libellous allegations. I see nothing in the accounts of the Thames Club or Downing LLP that can in any way be criticised.

Who am I? I am an ex supporter of Staines Town who was also a Chartered Certified Accountant, I have no connection with either the Thames Club or Downing LLP