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PLJPB

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About PLJPB

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    Premier League

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    Rishton

ST

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    Blackburn End

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  1. PLJPB

    Venkys

    Another injection of cash into Venkys London Limited as share capital according to Companies House. As with previous injections this will no doubt have been passed straight through to the football club as an interest free loan. This injection is £4.750m following injections of £3.625m in March and £4.700m in January. Total cash cost to the Raos since September 2017 is £13.075m. Total cash cost since day 1 is £152 million!
  2. PLJPB

    Venkys

    We were talking as at June 2017 being the date of the latest BRFC filed accounts. But I would agree that the current share capital is £147m. However the aforementioned BRFC accounts show bank debt of £12m so unless you are aware of additional bank borrowings of around £90m being taken out in the last 9 months then I cannot go with your£250m figure. My guess would be that the bank borrowings will still be around £12m (the additional share capital having been pumped in to keep it at that level) and so current total investment will be around £147 + £12 = £159m.
  3. PLJPB

    Venkys

    But they only paid £23 m for the £134 m share capital already in existence when they bought the club. Therefore your figure is £111 m too high.
  4. PLJPB

    Venkys

    Could I ask where this £250m figure is coming from? The BRFC accounts to 30/6/17 show £94.8m owing to the Parent Company (Venkys London Limited). They also show £146.9m share capital. But £134m of this share capital was already in place before Venkys bought the club. Therefore I calculate their total investment to be £94.8 + 146.9 -134 = around £ 108m. The Venkys London Accounts show that at 30/6/17 the total share capital was £132m. I cannot find any evidence that the Raos have put any money directly into BRFC - it has all gone through VLL therefore their maximum investment must be the £132m VLL share capital. I'm not sure what the difference between the 108 and the 132 is but maybe its the £23m they actually paid for the club. In summary, my understanding of the published accounts is that all the funding for BRFC has gone via Venkys London Limited and since at 30/6/17 it had £132m share capital, this £132m is the maximum they had put in at that date.
  5. PLJPB

    Venkys London Ltd accounts

    Another £3.625m pumped in by Venkys on 21st March per companies house. That's a total of almost £21m in the last 12 months! Total Venkys London share capital now stands at £147m - a very costly venture for the Raos.
  6. I received a phone call from Ewood today asking my reason for not renewing. My answer was simply 'Venkys'. Nice lady said thanks for answering and that they were surveying the replies and the results would be passed on. It would be interesting to learn the results of the survey and exactly who they were passed on to. Maybe one for the next fans meeting?
  7. Actually works out at an average price per game of £22 before the additional £2 surcharge for paying on the day for adults in Blackburn End. Season ticket before early bird deadline works out at £13 per game. Whether a walk on price of £24 for Division 3 football is good value I'll leave for the individual to decide!
  8. Filing today at Company's House shows the Raos put another £5,794,146 into Venkys London Limited as share capital which will presumable have been immediately lent to BRFC Ltd to keep us afloat. Could this have been needed to pay off one of the short term loans? Also maybe this further cash need so soon after putting £666k in in February has prompted whatever KPMG & Deloitte are at Ewood for.
  9. PLJPB

    Transfers Part 2

    This part could be a stumbling block?
  10. PLJPB

    Owners Statement

    Hmmmm why don't I believe this? No season ticket renewal for me after 30+ years. I'll be back when they have gone.
  11. PLJPB

    New Companies House Document

    And so it starts again. Why is it so difficult for the Directors/Secretary of Venkys London Limited to find out the required particulars - i.e. Name, Address and Date of birth - for the identified registrable person? Delaying tactics?
  12. PLJPB

    New Companies House Document

    Just to add........these are the various definitions of Persons with Significant Control: A PSC is anyone in a company, LLP or SE who meets one or more of the conditions listed in the legislation. This is someone who: owns more than 25% of the company’s shares holds more than 25% of the company’s voting rights holds the right to appoint or remove the majority of directors has the right to, or actually exercises significant influence or control holds the right to exercise or actually exercises significant control over a trust or company that meets one of the first 4 conditions. I find the one highlighted interesting. I would suggest that this could cover anybody or organisation that is not a legal shareholder but still holds the power. e.g shadow directors, third party owners. Not that I am suggesting that this should be the case with BRFC or Venkys London Limited because whoever made the statements to Companies House will have taken into account that they are legally obliged to make the correct statements.
  13. PLJPB

    New Companies House Document

    This document may have been filed in response to my chasing the club for the last 6 weeks for the 'Persons of Significant Control' register. This is supposed to be a register of who makes decisions. The first filing for BRFC Ltd was 19/10/16 and stated that a person had been identified but all of their particulars had not been confirmed. I wanted to know who that person was and so contacted Companies House to check the rules. These things take time and we now finally have the statement. It is interesting to me that we are now told Venkys London Limited are the decision makers but back in October they did not have their particulars. So Silvester/Cheston didn't know the correct name and address for Venkys London Limited! What this means is that Venkys London Limited has control over BRFC Limited. The Venkys London statement says that Balaji & Venkatesh (Bling & confused) have control of the company - and so by default also over BRFC - by virtue of them each holding between 25% and 50% of its shares. VLL is wholly owned by Venkateshwara Hatcheries Private Limited (VHPL) in India so for the statement to be correct it would appear to me that Bling & confused must also have control over VHPL even though we have always been led to believe that sister Desai is the boss. Something here doesn't feel right but then again that's nothing new under the Venkys rule.
  14. PLJPB

    Venkys London Ltd Accounts

    Are you sure this is the case? I think you would be correcting regarding Blackburn Rovers Ltd but this share issue is against Venkys London Ltd. This follows the usual pattern. The 'Owners' put money in to Venkys London Limited which then loans the cash to BRFC limited when required.
  15. PLJPB

    Balaji Rao phone call audio

    You're not fishing to try & found out who made the call are you?
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