My KCC Election Manifesto & Video

Thursday, 10 November 2016

High Sherrif’s Posse to Raid Dreamland?


Documents  published on the Companies House website reveal that  Charles Whitbread of the Whitbread  brewing family, and the current High Sherriff of Bedfordshire (http://www.centralbedfordshire.gov.uk/council/high-sheriff/charles-whitbread.aspx),  loaned £500,000 to a company called Southeast Retail Limited in March 2016.  Southeast Retail owns the Sands Hotel in Margate and one of its directors and part-owners is Nick Connington who is also a director of Sands Heritage, the operator of the Margate Dreamland Amusement Park.

The High Sherriff who is appointed by the Privy Council and acts as the Queen’s representative in Bedfordshire, has secured his £500,000  loan to Southeast Retail by placing a charge on most  of the Dreamland Amusements Park’s fairground rides including the Big Wheel  the Cyclone Twist, the Swing Boats and the Helter Skelter. If the loan is not repaid then the High Sherriff can muster a posse, mosey on down to Margate and seize the  fairground rides. And the risk of that possibility looks to be growing.

According to Companies House both Sands Hotel Margate Limited and SouthEast Retail have failed to submit their annual accounts which were deadlined fir submission  by late September 2016. Almost 2 months after the deadlines elapsed  and nothing appears to have been submitted. Late submission of accounts is often seen as a symptom of a company in financial trouble and Companies House treat late submission extremely seriously  here’s what they say

“Failure to file confirmation statements, annual returns or accounts is a criminal offence which can result in directors being fined personally in the criminal courts. Any criminal proceedings taken as a result of non-filing of confirmation statements, annual returns or accounts is separate from and in addition to any late filing penalty imposed against the company for filing accounts late. The registrar may also take steps to strike the company off the public record if these documents are delivered late. There is no late filing penalty imposed on confirmation statements or annual returns that have been filed late. Failure to pay the late filing penalty can result in enforcement proceedings”.
So the question is will the High Sherriff of Bedfordshire and his posse be  riding into town in the near future to seize his goods? If he does Dreamland will be left without most of its rides, apart from the Scenic Railway which isn’t working anyway. Yeee haaaa!! Ride them Dreamland cowboys!!

 



8 comments:

  1. StoneHill Park and Wynyard Park and several others of the owners companies did this regularly and nothing happen.... So I guess nothing will happen again.

    SO I hope you do not have double standards Ian.....

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  2. Tim Howes and Colin White are the TDC lawyers involve din this? How did Sands ever get ownership of Dremaland?

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  3. Has Wells resigned yet? Why not?

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  4. So who are you Anonymous that you have to hide your identity? Or is what you are saying inaccurate?

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  5. So the questions are: who actually owns Dreamland and what ability does TDC have to influence it's future?

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    1. As far as I know TDC own the Freehold of Dreamland but the lease is owned by Sands Heritage but their are several outstanding charges on both the leases and the rides. Sands Heritage of course are in administration and they control what happens with Dreamland. Their legal responsibility is to recover as much of the debt as possible. The only way TDC can take control is to buy back the lease and pay back the charges. Given that Arrowgrass is owed about £5M this means in my view Arrowgrass could end up in control of Dreamland

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  6. Difference here anon 16.04 is that TDC has not invested £20 millions of tax payers money in the companies you mention neither is the regeneration of Margate at risk as it is if Dreamland fails.

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  7. Wells should resign

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