Sunk costs
We got up this morning intending to do a funny little piece about how Humza Yousaf’s attempt to fiddle an online poll on The National had spiralled into farce last night, with rival teams of bots spamming the poll with over 400,000 extra votes in 12 hours.
But then something a bit more significant happened.
Because a compulsory strike-off notice being filed in the First Gazette is a warning that a company is about to be dissolved.
We rang Companies House a few minutes ago and they told us that the notice COULD just mean that Ferguson Marine had failed to file its accounts on time (in which case Companies House would have initiated this move itself), or that Ferguson might have notified them that it intended to cease trading.
In either case the First Gazette notice would be the result, and it wasn’t yet possible for CH to tell us which it was.
Ferguson Marine is of course the company building two controversial and ill-starred ferries for Caledonian MacBrayne, which are now several years late and hundreds of millions of pounds over budget with no launch date in sight.
(Despite the first one having been “launched” more than five years ago by the First Minister, complete with painted-on windows and crowds of flag-waving children.)
In September 2017, when Humza Yousaf was Minister for Transport and the Islands, the company was handed £15m in a secret loan of taxpayers’ money, on top of a £30m loan the Scottish Government had previously made public.
As the Herald noted in its story about the secret loan, the firm (known at the time as Ferguson Marine Engineering Limited) was struggling to file its accounts.
They were eventually lodged more than a year late.
And a few months later, in August 2019, the company was placed into administration, and was later nationalised and taken over by the Scottish Government.
Wings Over Scotland does not know whether the troubled yard is about to be closed down for a second time. But at the very best, a company owned by the government failing to file its accounts on time is a deeply concerning development, regardless of whether it indicates imminent collapse or merely stupefying incompetence.
If it does go down, it’ll take an awful lot of taxpayers’ money with it. And if there’s any justice at all, more than one government minister.
In a curious reversal, perhaps the ships are leaving the sinking rats.
Where you lead the MSM will follow.
Sad indictment of the media in C21st Scotland that a blogger breaks news before they do.
As Frankie Boyle so eloquently put it, ‘Newspaper sales are plummeting, there’s never been a better time not to buy one.’
Well you are a very astute journalist, wow.
This needs to the SM rounds ASAP.
Will post on FB.
Perhaps the accounts they have failed to lodge in time have something in them they do not want us to see !!
Shocking news. I do hope Ash wins and she clears out all the plotters.
Great comment ‘Molesworth’. Made me laugh about a not very funny situation. Hat tip.
Is it possible more tax payers money has been given to the company & filing the accounts would allow the public to find that out, so they’re withholding the accounts for as long as possible?
He has a proven track record, nearly a decade in the cabinet. So he said on GMS this morning, like bloody Jonah. What other skeletons are lurking in Davy Jones locker?
How is Murrell still walking amongst us directing this train crash ministers campaign.
It’s not an unusual thing to happen and it seems that the first gazette is been issued quicker by companies house now. I think it’s a way to prompt directors/accountants to get their finger out.
Reason for Sturgeon’s resignation?
A smiley face for molesworth.
“If it does go down, it’ll take an awful lot of taxpayers’ money with it.”
Very bad. And what will happen to the ferries? Alf Baird is the person to give the full background but Scot Gov were offered a much better and cheaper option to replace the ferries and ignored it.
“And if there’s any justice at all, more than one government minister.”
Well, it’s an ill wind.
Shambles. They could have been designed,built,and afloat by now had they been contracted to any company in the far east. This is ineptitude on a colossal scale
That notice has nothing to do with the yard as it is day.
SG did not take over that legal entity as some tend to think.
Instead, and holding securities (loan-mortgages & contract guarantees) over the physical assets of the company, SG aquired the physical assets of the company in lieu of debt shortly after administration.
Ownership of those assets was then transferred to a new legal entity which is today’s Ferg Marine.
The old and new legal entities are not at all connected and that notice has no bearing on whatever is going on at the yard today.
With the ferries fiasco, and other serious scandals brewing, it looks like all hell is about to break loose, just after the SNP leadership election is concluded (amazingly convenient). Now, the powers that be wouldn’t be holding back some urgent public interest information until just after Humza is elected, would they? I get the feeling that this is all going to end really badly. It will probably get a lot worse before it gets better. The fact that Peter Murrell is still in position is of real concern. What strings is he pulling in the shadows?
I listened to Stuart Ballantyne, the naval architect on the Through the Scottish Prism show. He offered to replace all of the 19 fleet for a fraction of the price.
He said he’d restore the glory to the Clyde. Restore the Dock in Govan as well turn it into productive use.
The diesel engine ferries are also a thing of the past.
Norway have hydrogen powered ferries.
Instead the SNP have given us two lumps of scrap metal.
And this CMal procurement process has been rigged. Cronyism and a refusal to listen to anyone else ideas apart from themselves.
Launching the ferries to trigger yard payments with the bow incorrect. The design changing all the time.
Had Alex Salmond been in charge, with his men this would not have happened. He’d be supporting the striking workers.
The SNP, has gone from building the Queensferry crossing to being unable to build ferries.
Scotland as a nation used to be the land of invention. There’s no reason why we can’t still be.
I hope the hard working and skilled ship builders of greenock have a job to go to.
Bring back Alex Salmond.
Accounts overdue
Next accounts made up to 31 March 2022
due by 31 December 2022
Late accounts so its more than likely its auto Companies House.
Under Sturgeon the Scot gov has been an unmitigated disaster, whether deliberately or not, who knows.
From her very first career, she has failed at everything she touched.
Jim Bannatyne, a world renowned expert on ferry building, ex pat, offered successful island hopping ferry plans to the SG, never even got the courtesy of a reply.
As an aside, during all this leader debate, an exchange in Holyrood yesterday mentioned that the contract for yhe glass bottle return scheme, another rushed soon to be failure policy, has been handed to a US Hendge Fund, with no Scottish business being considered.
If you type the following :*-*) but take out the *
you get
🙂
Here’s on for you 🙂
and one for molesworth. 🙂
If you want a frowny face change ) to (
🙁
for a wink you change : to ;
😉
We’re Scottish, Bob. We shouldn’t be procuring our ferries abroad. We can build an entire new fleet in Scotland by the people of Scotland giving people jobs.
It’s the designer of the Ferries. They kept changing. Even still most recently the wiring cables weren’t long enough.
It’s the managers that have fucked over everyone in the Islands. Sturgeon’s lack of ambition. Lack of vision. Refusal to listen to ideas.
She’s sold out ScotWind to foreign enterprise.
She’s wasted our cash. She’s left the islanders stuck.
Scotland should be building Road bridges between the islands. Connecting them.
We should be building up our own country not procurement abroad. Its a farce. As for ScotWind.
China and Sweden will thank Nicola for their engineers getting our jobs. She’s fucked us over.
Said it all along, there will be jail time handed down over Fergusons at some point if somebody in authority has the gumption to go look there is defo a story here . Readers should familiarise themselves with the Aviemore project George Pottinger and John Poulson I’m afraid history is repeating itself
Rev keep digging there is a Bernstein and Woodward moment in FMEL, I’m sure of it.
@M, It`s the old switcheroo. you still own the assets but for legal purposes keep them at arms length under a different name in case t goes wrong.
Sturgeon. Sold us down the river, and gone with the wind.
Someone should get Alex Salmond on the phone. Big Eck would sort out this mess 2 minutes.
As an Arranach and somebody along with the 5,000 odd permanent residents of the Island, this is very disturbing news, the existing Ferry the fondly known as the Calamity Isles has served us for nearly 30 years, but as her nickname suggests is now getting a bit old on the tooth and is becoming unreliable. At the moment Cal-Mac have several of their Major Boats out of Action.
The Calamity Isles is at Dry Dock in Greenock, went there for annual overhaul beginning of January
Hower issues found with Hull and Engine so dont know when she will be back in Service, they keep saying a few weeks then extending it.
The MV Hebridean Isles was one of two smaller major ships to cover for the Calamity Isles on the Ardrossan – Brodick run , however after a week or so she had to be withdrawn due to a bow visor issue and as she did not have the manoeuvrability to reverse into Ardrossan she was designated to operate freight only out of Troon ( how she could not reverse into Brodick is above my pay scale!)
She was withdrawn from service completely the other week with a “Control Systems Fault”
The MV Isle of Mull is also in the Greenock Dry Dock with a “Technical” issue.
Affecting service to the Western Isles
MV Isle of Lewis is at the Dry Dock at Greenock, presumably for annual refit.
Mv Clansman returned from Annual refit at Liverpool this week and almost immediately suffered an engine failure and sailed passed the Greenock Dry Dock yesterday on route to repairs further up the Clyde.
The New Glen Sannox complete with Windows has also recently arrived at the Greenock dry dock
Whether she is attemping to escape any lock in at Fergusons or getting her bottom scraped for the Nth time since she was launched i dont know.
An utter shambles, C-Mal and Transport Scotland not fit gor purpose.
@David Hannah.
Yes David we are Scottish . I am old enough to remember the days when you could walk on boats down the length of the Clyde and your feet would never touch water till after Dumbarton.
We have lost that. These ferries are the lifeline for Islanders not a luxury or political plaything. Delivery is the most important thing and time is against the older ones which keep breaking down.
I do not decry our skills at building ,but whatever has gone wrong it all has the cumulative effect of depriving those islanders of a vital service.
Liz:
“Another rushed soon to be failure policy, has been handed to a US Hendge Fund, with no Scottish business being considered.”
Carry on regardless. That’s the SNP Philosophy. They don’t care about Scottish business.
Public approval ratings –
Kate Forbes: +3
Ash Regan: -4
Humza Yousaf: -19
If the SNP fix this for Humza. They really are sunk!
Apologies for getting Stuart Ballantyne’s name wrong.
Humza has been a Sturgeonite wonder of Teflon non-stick properties… Just like his boss was.
If he does succumb to being held to account, we need to ensure he does not damage the Yes movement as he goes. He was never the best choice for these posts, and the Ferry Launch of the toy boat with the painted windows and Happy children… That’s about as creepy and deceitful as anything Nicola Sturgeon’s government ever did.
As a Grenockian, I don’t want to see Ferguson’s go like this. Alf Baird could have sorted this 5 years ago. And rebuilt shipbuilding on the Clyde.
Humza should be called to account. But he failed in providing trustworthy governmental leadership, and therefore he failed the Yes movement… As well as everybody else.
@ David Hannah at 10:28 am
Just to be clear, the cables as originally run were long enough. They only became “too short” when later amendments to plans were made without due consideration to all the factors deviating from the original plan would create.
The subject was touched on btl over the weekend in several posts between George Ferguson and myself.
link to wingsoverscotland.com
Bob Mack, it is estimated that 70% of costs incurred in major infrastructure projects come back to Government in Way of taxes over several years. Thats one reason the Boats should be built in Scotland (and we will get all taxes back post indy) but it also kerps many ancillary cusinesses going and even pubs and cafes in vicinity of Shipyards.
The troubles have nothing to do with the Workforce but the wrong design no doubt driven by the Greens and Sturgeon not having the confidence due to her imposter syndrome to run a minority administration, the Management at C-Mal who it has been said by some were either allegedly that incompetent or deliberately screwing things up and to a certain extend the Facilities and Management at Ferguson’s not being up to the task.
We can do it. We can build this country up. No reason why we can’t build all the ferries on the clyde. Restore the glory to the clyde. All they need is a correct design.
We might have to import the steel from China. We’re a bit of a flat pack economy.
I don’t understand why we can’t open industry up in Scotland, all political choice.
And btw. Its our oil. Its still ours. And the sea bed sites. Are Scottish waters.
No reason why we can’t reclaim the Crown estates for Scots.
Charles is now getting 60 billion for ScotWind. You could connect every island in Scotland with a bridge for that cash, but it’s been auctioned away by the SNP.
We need big Eck. I’m telling you. Alex Salmond would sort this.
M, take a look at company number 638508. That is due for striking off as well. There’s one more out there but I’m on my cellphone so it’s a bit harder to navigate, especially at 6am.
I agree with the other post that it is most likely overdue accounts. That is not as big a story as dissolution but it is still a story and something that the Scottish Ministers need to explain.
I saw this comment on a post here yesterday:
“Rapist Adam Graham aka (Isla Bryson) has been placed back into a women’s prison a decision Medhurst of the SPS says was not influenced by any Scottish minister but taken by the SPS bigwigs themselves.”
Does anyone have a source for that?
Stena ferries are planned, built and launched, trialled and working in less than 3 years.
This Ferguson one is how long now?
Thanks Ruby.
Bob Mack.
I remember that as well,
I also remember one of the last ships my fathers mates worked on in The Clyde I think, was Queen Elizabeth 11.
When they weren’t working overtime they used to come to ours for the weekend or their hols as my dad used to take them fishing in his small boat,
The sound of fishermen, the hustle and bustle, the traders and markets the chatter of voices and the seagulls looking for scraps, have all gone, and the silence in these once busy villages and towns is resoundingly quiet,
The Local Shops are gone, primary schools closed, doctors surgeries moved and amalgamated,
The skeleton of towns and villages remain, but the heart and sole of these communities has gone to be replaced with holiday homes or newbee’s to Scotlands villages, where the first thing they do is fence themselves in and put up ” private” sign posts
Not joining a Community, but ensuring a barrier of outsider between themselves and locals, as if they did not trust the local people.
Funnily enough many of the trades of fishing and farming, shops and ironmongers etc that made a Community disappeared When we joined the EU. And after we got a Devolved Government in Scotland,
It seems if, these changes were it meant to bring us into this Century, it failed on many levels as goal post,
For many a Scot has been forced to leave their towns and villages to look for employment when these changes stole away there livelihoods and their homes.
M says:
That notice has nothing to do with the yard as it is day.
I don’t know why you think that. The strike off notice applies to Ferguson Marine (Port Glasgow) Holdings Ltd, which is the current owner and is directly owned by Scottish Ministers.
From page 1 of the Ferguson Marine (Port G) Ltd 2021 statutory accounts:
Background
Ferguson Marine(Port Glasgow) Holdings Ltd was created in August 2019, as the holding company through which the administration of the Ferguson Marine business in Port Glasgow could be managed and the shipyard saved. It has three wholly owned subsidiaries one of which, Ferguson Marine(Port Glasgow) Ltd (*FMPG*), took management control of the shipyard on behalf of the administrators on 16 August 2019. The yard passed into full FMPG ownership on 2nd December 2019. Ferguson Marine (Port Glasgow) Holdings Ltd is wholly owned by Scottish Ministers
From page 2 of the 2021 FMPG statutory accounts:
It should be noted that the contractual structure of the two dual fuel ferries was revised on 01 April 2020, with the customer now being Scottish Ministers rather than Caledonian Maritime Assets Limited (CMAL).
Given that Scottish Ministers have been the owners of the shipbuilder since December 2019 and also the main customer since April 2020, Kate Forbes’ March 2022 statement is less than impressive:
“We don’t manage the yard directly, but the Chief Executive is accountable to the Board and the Board is ultimately required to deliver on our clear expectations for the business.
I meet with the Chief Executive on a fortnightly basis, and with the Chair every six weeks, to press the Board and the Management to drive the programme as hard and as fast as possible to successfully complete the vessels. Let me be clear with Parliament today:
I expect the Yard, as a priority, to complete those vessels successfully and at the fastest, most achievable pace
I expect the Yard to turn around its operations so it is competitive, productive and efficient
And I expect the Yard to win and secure a further pipeline of work on the basis of its operations”
As the owner and main customer, exactly what practical measures had the Scottish government taken to achieve these aims?
O/T
Two Craig Murray tweets just now on the £600,000 and on Livingstone stepping down
As the globalist economic structure fractures, supply chain probs, food shortages, energy outages etc the ability to produce locally assumes importance. If your country can make it, grow it, generate it etc do so. A measure of autarky is no bad thing. Reliance on others, just because it’s cheaper, the UK/US model, is predatory capitalism indifferent to societal consequences.
Scotland, a land comparatively rich in resources, should have a government independent in every way.
The vacuous trending on SocMed policies of the past should cease.
Talking of rats leaving the Titanic – link to thenational.scot
Timing is interesting. This being the chap who led the Salmond investigation (stitch up). I expect there will be many more high profile resignations.
Hope I’m not paying the Turnaround Director over 600k to deliver late accounts.
Tom Kane @ 10:54 am
“rebuilt shipbuilding on the Clyde.”
Cheers Tom. Our colonial administrators never have Scotland’s best interest in mind. We will surely remain undermined and under-developed until independent. The opportunity is there though, as you imply, but requires liberation of the people, and the mind.
Scotland could easily be building 100+ proven designs of ferries for domestic use over the next 10-15 years based on the right approach and strategy, as has been set out by one of the world’s top ferry designers, a Scot, Stuart Ballantyne, which he offered to Ministers, who still do not respond in any meaningful never mind respectful way. They continue to leave our hapless ferry agencies to order terrible in-house costly unproven designs, another 4 now building (maybe?) in Turkey. Their approach is only undermining Scotland and our real potential, much like a colonial administration does, making the native appear incapable and dependent.
One might almost think of Fergusons impending demise (its third in the last 10 years at the hands of Scottish ferry agencies and their unproven hence problematic ‘designs’) as intentional?
link to yoursforscotlandcom.wordpress.com
Scotland used to be the hub of intelligence, of the entrepreneur, the inventors paradise, hard workers, artists and industries, close knit communities,
We now live in a dismantled Scotland.
Independence in of itself will not bring back what has been lost,
But the independence of Scotland would have the ability to return governance back to the people of Scotland with the ability to return the Smaller communities and industries that grew our economy and the knowledge of knowing who your neighbour is and feeling safe.
And that in of itself eliminates and replaces the insanity of larger faraway agenda’s from distant governments that harm all of us.
O/T Any thoughts on the FM and chief constable both stepping down.
Sounds to me as though it could’ve been used as a slush fund, and now as much taxpayers cash as possible has been squeezed out of it and no more is available, its time to shut it down.
Interestingly, or not, if the company is dissolved after a Final Gazette Notice, the assets will belong to the Crown in the first instance.
Sturgeon claims her A and E numbers are down. That’s because she’s sticking patients in corridors up the stairs.
Humza Yousless. Keep him away from failing Scotland.
Humza Yousaf. Failing upwards. Aha. Douglas Ross destroying him. Stick the knife in.
O/T
Can anyone explain why the ex FM is currently taking FM questions?
ie has parliament refused her surprise resignation, as evidenced by Green party support for the budget earlier in the week (despite citing fundamental issues of faith when explaining their public refusal to work with the minister hitherto responsible for it), or does the constitution require SNP CEO to handle it – and that explains why the plan for indy could not be fully articulated earlier?
If it does go down the Scottish government needs to go with it or at least, we need a Holyrood election ASAP as this government has put important things like dealing with poverty, jobs, and business aside in order to push activist led bills that aren’t going to help anyone apart from a core of uber faithful SNP/Green voters.
If anyone thinks any of the three candidates for FM are going to solve this then there’s several bridges I can sell you.
“Does anyone have a source for that?”
link to news.stv.tv
“Appearing before the Criminal Justice Committee on Wednesday, SPS chief executive Teresa Medhurst said she would not discuss who made the final decision.
“That decision, as I said earlier, was taken by headquarters,” she said under questioning from Conservative MSP Jamie Greene.”
Humza Yousaf. Failing upwards. Aha. Douglas Ross destroying him. Stick the knife in.
*metaphorically I mean by that,
Humza Yousaf. Failing upwards. Love it.
The way ‘The Linesman’ and ‘The Son and Heir’ are getting tore into ‘Haunless Useless’ at FMQs – it’s as if they are trying a double bluff, to convince the SNP members to support him, as the guy they most fear.
I reckon he’s the one they want – the least likely of the three candidates to really go for Independence.
A Sturgeon puppet is to stand down as head of Police Scotland.
He said.
“I will retire from policing in the summer. I will have served as a police officer for 31 years, with the privilege of leading Police Scotland for six.”
link to 12ft.io
Perhaps they just didn’t want the accounts to be made public and delaying as long as possible until the heir is annointed. Another disgrace.
The puppet has been loyal, but is now resigning as the shit is about to hit the fan.
“Operation Branchform enquiry into missing £600,000 has thrown up embarrassing detail on where money went with reference to the campaign to get Salmond.
Livingstone called on Sturgeon shortly before her resignation. Now he is resigning too.
Livingstone set up the “Salmond Squad” who interviewed 400 people over 2 years.
They liaised with Murrell and Ruddick in getting up the false allegations.”
Courtesy of Craig Murray.
I was surprised at Anas Sarwar, smooching up to Nicola, our stunning and brave selfie queen that saved us during covid.
Aye right. Sounds like Labour know he’s the establishment choice. Ross to his credit told him of his political failings straight.
It’s a shame the Nurses didn’t go on strike here. The SNP don’t deserve to say they are better than RUK – The world’s lowest barometer. The unions just folded, particularly Unison. And the Strike action is delayed, there’s not been a deal accepted.
Ash Regan discussing much with Robin McAlpine, of she did once work for Common Weal, she also has an ex-Alba candidate onboard helping with her campaign.
Some aren’t happy with her choices.
“SNP staffer Rosa Zambonini wrote: “Ash Regan is entitled to be supported by anyone she likes but it’s remarkable that she’s choosing the support of some of the party and Nicola Sturgeons biggest critics. This leadership race isn’t a back door for those who’ve left…””
link to 12ft.io
Klaus Schwab (World Economic Forum):
“Globalism is an ideology that prioritizes the neoliberal global order over national interests.”:
link to archive.ph
HeraldScot (23/02/2023): Greens ‘put US hedge fund ahead of Scots businesses’ in bottle scheme:
“MSPs have rejected an appeal to pause the problem-hit deposit return scheme over concerns the policy is being “fronted by a secretive company put in place without a competitive or transparent process”…
Mr Golden said:
“This is a government-run scheme, often fronted by a secretive company put in place without a competitive or transparent process. The Scottish Government have so far refused to issue a section five to allow FOIs into Circularity Scotland.
“It’s a dereliction of duty that raises questions around procurement practices and dodgy dealings.”…”:
link to archive.ph
Like was mentioned yesterday, I no longer see “regime change” of party political parties in a devolved government to Scotland as a cure for Scotlands problems,
The issue is much deeper,
It is not having your own authority to call the shots, to improve Scotland, its poverty, its nation. No one can love its people as it should if it is a disconnected government that has no authority of it own, in its own Country, but instead has to ask another Country for permission to make decisions.
This does not work for any nation, and the examples of faraway governance are all encompassing to natives People all around the world, they become second class citizens on there land, and usually their populations are dispersed or deminished.
For Scotland and the people in Scotland it is no use looking for a sticking plaster like sorting out which or who rules a devolved government, for that is not Scotland.
Let us sort out the details of the contract that implies we are beholden to another Country laws and rules.
But to ask) If WE are in a treaty of union, why “We” have no Scottish parliament members to send as our representatives from Scotland to Westminster since 1707?
That if the 1707 Scottish parliament is Sine Die”d since 1707?
If the 1707 Scottish parliament was subsumed?
If the 1707 Scottish parliament was extinguished.
NO 1707 Scottish parliament has members of that parliament that closed and ceased to represent the Scottish parliament in the treaty of union as promised in the articles of that treaty,
Because it has not existed since 1707.
We often hear talk of withdrawing the SNP members out of Westminster, But to where and to what purpose?, for we must remember the devolved government to Scotland is Westminster legislated,
The SNP will still be members of Westminster.
I’ve just seen this comment on the Herald article about Ferguson Marine.
Anybody know anything about it?
“Paul Brook
18 mins ago
User ID: 155240
A quick look at companies house shows Ferguson Marine 801-802 as the company with the potential strike off notice. There’s also Ferguson Marine 803-805 which has just changed it’s name to Ferguson Marine (Commercial) I feel a pre pack administration process coming on. Leave debt behind in 801-802 and stuff various suppliers and start afresh, but that could be pure speculation.”
Humza. Clapping like a seal, while the ferry is launched with painted on Windows.
John C.
Having a Colonial devolved government as overseer and law maker to the management of its Colony, (Scotland) is the problem.
Not the parties they select for us on our behalf, to manage Scotland,
This is why I and Alf Baird have been drawing attention to the devolved Colonial position of the devolved government as the target problem,
Every thing taken place, including refusing the Scots independence or the right to self determination is Colonial management,
The devolved government in Scotland act like managers for Westminster, akin to how it used to be in India.
This is not a Scottish parliament, that ended in 1707, and therefore is impossible to be in the treaty of union.
One other thing doesn’t make sense. Clicking on the company’s entry under “Persons with significant control” it has two “active” entities, one being the Scottish Ministers who have greater than 75% control. Now my maths ain’t great, but its mathemetically impossible to have two people each owning over 75% of a company? link to find-and-update.company-information.service.gov.uk
Craig Murray –
@CraigMurrayOrg
Operation Branchform enquiry into missing £600,000 has thrown up embarrassing detail on where money went with reference to the campaign to get Salmond.
Livingstone called on Sturgeon shortly before her resignation. Now he is resigning too.
Nothing to see here, obviously.
Only going for a fully independent Scotland will we relieve Scotland of being a Colonised Country.
Where the Scots under a government and devolved to Scotland government office, not their own, are being refused freedom,
If you answer, and have to ask a different master, for your freedom, you are captured under a Colony regime.
Steve B, I have looked no further than the link you provided. Here in the USA, such reporting is not all that uncommon. Related parties have to report their own shareholdings as well as any of those that are related parties. So my first thought is that the Scottish Ministers must report their holding in the Holding Co and the Holding Co must report their holding in (Port Glasgow).
I may be wrong but that is just an initial thought. If I am right, it is a refreshing breath of transparency. There must be a junior accountant somewhere in the mix filing DLL the right paperwork.
For the first time in my life I’m ashamed to be Scottish.
Obviously the filing of company accounts is optional for those and such as those.
Who is the law made for in this country.
@Steve B 1:20pm
Ferguson Marine (Port Glasgow) Limited is wholly owned by Ferguson Marine (Port Glasgow) Holdingrs Limited, which is in turn wholly owned by Scottish Ministers. Hence both FM(PG)H and Scottish Ministers appear as PSCs on Companies House. Practice is somewhat inconsistent in this area – some groups only report the immediate parent, some only the ultimate controlling parties and some do both). The >75% threshold is a red herring on this occasion – Companies House don’t have a separate category for 100% ownership.
Looks like a straightforward failure to file on time and Companies House automatically commencing strike off action after a grace period. It can be suspended by filing accounts.
The really interesting part will be why they are late. FM(PG) took an audit exemption by parent guarantee last year but FMPGH had a consolidated audit by Grant Thornton. Plus be GT are unhappy that they’ve received sufficient appropriate audit evidence to support the numbers in management’s accounts.
The other minor interesting question is why FM management didn’t ask for a 3 month extension if they knew they were going to be late. Could have avoided penalties and this embarrassment if they had.
David Hannah
“No reason why we can’t build all the ferries on the Clyde”
I’m with you in sentiment David but I’m afraid there are lots of reasons why we can’t build all the ferries on the Clyde.
It may surprise you to know that due to a lack of skilled workers that large numbers of foreign skilled workers have had to be drafted in by Fergusons – notably from Romania.
I don’t doubt that Stuart Ballantyne could pull things round if backed by a pragmatic Scottish Government, however how likely is that?
i think I received one of these notices a few years ago. It was some sort of administrative problem that meant that they hadn’t received some info about my firm’s annual registration – basically they needed a signed form returned to them and it hadn’t been done as we were shut down due to Covid. A quick phone call to my accountant and they sent Companies House the necessary info – problem solved. probably something similar in this case. unlikely to be a big deal.
BTW the story about the painted windows is not correct – IIRC the window apertures were boarded up as the windows don’t get fitted until later in the fit out. the boards were painted.
Katie Forbes, Alex Salmond, Neil Oliver; the future is bright for an independent Scotland.
link to mobile.twitter.com
Alf Baird@11:57… Sad thing is, Alf, we just about all know that a decent ScotGov would have put you and Stuart Ballantyne to your word, and the Clyde and the islands would have been flourishing again.
I no longer believe it was incompetence that brought us to this state of disrepair. I think it was genius, collusion and malevolence.
Ferries…
GRR…
£600,000…
Emails…
That’s a lot of chickens coming home to roost – ain’t it Nicla?
“Rev. Stuart Campbell says… but taken by the SPS bigwigs themselves.”
:Does anyone have a source for that?”
link to twitter.com
BMJ: Scotland making poor progress on covid recovery plan, auditors find:
Published 23 February 2023:
“The NHS in Scotland is struggling to recover from the covid-19 pandemic and an honest and open public discussion is needed about the challenges facing the service, a public spending watchdog has warned…
The watchdog’s latest report found that the backlog for treatment following the pandemic continues to grow, 18 months after a five year covid recovery plan was published…”:
link to bmj.com
Elon Musk (23/02/2023: Twitter:
“It’s coming”:
link to archive.ph
Nathan Evans (2021): There once was a ship that put to sea (Wellerman):
“…Soon may the Wellerman come
To bring us sugar and tea and rum
One day, when the tonguing is done
We’ll take our leave and go
Da-da, da-da-da-da…”:
link to tinyurl.com
FWIW, as an ex-auditor and now-financial analyst, it is not unusual for small companies to miss their filing deadline and get a strike-off notice.
For a company of this size, with fully audited accounts, it is far more unusual. For these companies, if I see a strike-off for late accounts, my initial thought (and I should say there can obviously be other, more mundane reasons) is that the company is having a barney with their auditors about the final accounts, with the directors wanting to present a more rosy view than the auditors.
If you look at the prior-year accounts, the company was close to being what is called ‘technically insolvent’. It had short term (<1 yr) liabilities that nearly exceeded it's liquid assets. However, the meaty problem is Note 14 to the last filed accounts: a provision for a c.£90m contract loss on 'vessels 801 & 802'!
These provisions are accrued as a 'prudent' measure under GAAP accounting rules. If this loss was actually realised, the company would go under in a heartbeat, and likely wipe out the shareholders and any unsecured creditors.
My gut feeling is that the potential probability of this outcome is currently the cause of some shouty redfaced boardroom meetings between the Dirs and the Auditors, who have to sign the company off as a Going Concern (basically, that it can continue to remain solvent in the near term).
World Economic Forum: Organizations:
NHS England:
link to archive.ph
World Economic Forum: People:
Simon Stevens: Chief Executive Officer, NHS England
link to archive.ph
World Economic Forum: People:
Tim Davie: Director-General, British Broadcasting Corporation (BBC):
link to archive.ph
World Economic Forum: People:
Nicola Surgeon: ‘Pushed the button’:
link to archive.ph
BBC (24/02/2023): How did NHS Scotland end up in a critical condition?
Rising demand for private healthcare is a reflection of the NHS in crisis:
link to archive.ph
Elon Musk (23/02/2023): Twitter:
“Interesting thread”:
link to archive.ph