No Stone Unturned Fund Accounts

dogs don't lie wrote:Haven't read yet, might need moved.

https://www.mirror.co.uk/news/uk-news/madeleine-mccann-firm-searching-missing-13835272

Thanks ddl, it won't copy most of it but interesting little snippet and the way it is worded from the link above..

A company set up by Kate and Gerry McCann to fund the search for their daughter has had a boost in profits.

“Find Madeleine – Leaving No Stone Unturned” has more than £800,000 in assets, after making nearly £100,000 in the past year.

The article is the usual tripe.

And it says the book remains a best seller. I hardly think so now.

And it refers to losses in previous years. I think there was only one year in which there was a loss and it wasn't much. Could be wrong about that. Anyway why would there be losses when they aren't appointing top detectives any more?

Some good footage and photos. The comments are interesting too. IMO the McCanns and their friends have been playing us for fools and the media have allowed it. Of course the main question is: why?



https://crimerocket.com/2019/03/18/have-the-mccanns-been-playing-us-for-fools-for-the-past-12-years/

Does anyone know what this document - filed on 15th May - means?

https://s3.eu-west-2.amazonaws.com/document-api-images-live.ch.gov.uk/docs/zGHvT4pRfbFKuWF3MuCSLF3RVoO7iqG9H37h489THkQ/application-pdf?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Content-Sha256=UNSIGNED-PAYLOAD&X-Amz-Credential=ASIAWRGBDBV3AN4ADB3L%2F20190517%2Feu-west-2%2Fs3%2Faws4_request&X-Amz-Date=20190517T152158Z&X-Amz-Expires=60&X-Amz-Security-Token=AgoJb3JpZ2luX2VjECIaCWV1LXdlc3QtMiJHMEUCIB46wKLZ4XOhkCyHE3C%2BMckqhi08oo2NUSG9Yl0pFrj8AiEA3NB8%2FZdk%2BBhMLpvLUvWy7wKca3ICmBvc%2F5beFw2Tfmgq2gMIKxABGgw0NDkyMjkwMzI4MjIiDFURxTD%2Fh00ZApjcOyq3AwX3PP6%2B1eWlu5QeGkrWsx8gdOzoJRlJkpciotMS7eMyq7TZZPOk9eXHJzTJ301HINhbH4Zn2edy1WvCXpne%2BJNlRAtgJMRPJl5RJo0m3yaznou%2F3hjN6083Er1m%2BffR7h1kyprosdeDZKsJ2FecMK3d5EY%2FGazAOR9UacFE7sEG5Z%2B25nq69XDcmWmLzOKMRKfRY8X9KlPEqXKWYAcG%2FN8oEQaR63HHL34AelntyYTTiGshw1t255ybbiSNmTIfHv%2BN18Ogn2pfO%2F5UE62QJt4Irlr2F6ugorOYBRzhEaY2%2B1AB4%2Bq%2Fhb6BQvBJCzz7ZM6S658%2FdF8ILpI4aDczv%2Fbe4ysKUKmgLSSoq21Hx4A811rozyFHDZ1xwU3B8d%2Bz9pLkit8c33UkHPzJPMZTwTR%2BRKtZpguGiNlbx6o3HFyxC%2BYUAgFAqbFeEKk67xTSgymgMr00GfAfCfficAsrS0Vi5%2BvM%2FaA%2BAs4LBwmaEg8wh679TMel%2Fv5Gggth43c6kC6PjmJleq9uCxis1hSIld%2BwNTTL4PDb7vV8LvZ%2FtpYOqBx8mj7ivKO%2BFIeuT2%2BtxjHe%2BaAnNKEw7oP65gU6tAGL%2Fv0h8mzZXHJHRFZF8M%2BrTn5KrwAzgBQG%2Btc7lYYyqopTm%2ByJg40k3uZmH88UNj%2Fon8BDPBGsM2zQDzbFth6NdX3JsMLWN5lrHvS14AzBVYY3m44UD6KIc2TTqol39ho6dp1xFAOeQTtWx4X4JH9SiPFMrZUvoA7ke27M6PlLDKwG%2FAks1bWEr3L190o2RA94mAFs7H85PuSPpKyk4Wl9o0ZJW3Zn4mSfvGvOO9Qi56pounY%3D&X-Amz-SignedHeaders=host&X-Amz-Signature=0b11b4e86ac63836fa192d805a26e31c5fb14175d8171d70a31d707b959d459a

Goodness Freedom that's quite a link....

Where is it from can I ask? I don't normally click on links especially long ones like that lol.

It is safe. It's the documents filed at Companies House.

Think that link has been taken down today??

Can you still access it, Freedom? What did it link to?

That's strange. It is there but not on that link.

https://beta.companieshouse.gov.uk/company/06248215/filing-history

Go the first item on the list - the confirmation statement of 15th May.

Thanks, Freedom.

Had to Google, but it looks like a Confirmation statement is a simplified version of the old "Annual Return".

https://www.1stformations.co.uk/blog/confirmation-statement-explained/

I think in this case the Fund is claiming there have been no changes to the company details - e.g. shareholders, addresses etc. There's a lot about shares - does the fund have any shareholders???

Just had a look. It's just the annual statement that has to be provided by law, ensuring all company details are up to date.

There was me hoping MPS had finally got off their butts and closed the whole ruddy thing down

https://www.gov.uk/guidance/confirmation-statement-guidance

Me too, Veracity!

Thanks to you and Dee Coy for clarifying this.

Not much longer to wait for the accounts to March 2019 - the suspense is killing me!

https://beta.companieshouse.gov.uk/company/06248215/filing-history

Good news, Mr Pig!

https://s3.eu-west-2.amazonaws.com/document-api-images-live.ch.gov.uk/docs/LU8NsODFQZDv-MFKver4OlRgsDhxdcEdf41eDXaC-gw/application-pdf?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Content-Sha256=UNSIGNED-PAYLOAD&X-Amz-Credential=ASIAWRGBDBV3DJ2HBRSE%2F20200107%2Feu-west-2%2Fs3%2Faws4_request&X-Amz-Date=20200107T103028Z&X-Amz-Expires=60&X-Amz-Security-Token=IQoJb3JpZ2luX2VjECcaCWV1LXdlc3QtMiJHMEUCIQDMacruzgkAXQ1vJIr7f8gS%2BN4C3hed4u28%2B4B2vgDf3QIgDIVaHy8b8lWxVHr0brQDdCZtOaiJODNr3DFIouylFEoqvQMIn%2F%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FARACGgw0NDkyMjkwMzI4MjIiDA2vupDLxQpg2D5U8SqRAz2acZBsNusnh2f9WTh4qhmsS1ZMMlRJLrbAKgKw0nyynLNd%2FkGUIgXDGL0QY9N05XDDtulcYJjSUK%2BzqV71AR2zautl3ZnsEwKm%2F3J%2BDtu7XWOcouE6zndJEybYCHocGBqUwG3nwJMi71Bmc9iX5z%2BHr8GGQSmzokPpGys3ysx6Jn9PCeg1No6JHRJU8Ayjr0w4kff9BvC8W0Op2GybDHUKW%2FfhKw7O7ce24zqcbZmBA0mI8SQeBmIPPNJgnhzmS0vID5SOclSutETr3CB6E78uMDnrffSarsaz6UKdfk57HbAuyk5CkyDcZe4jPbR3RonbzlQcuCWivRE5QoBQQZ0%2BxZZS2qBaFXsb8Rk2jUFzkeFBbxy0xeEjKz47p9Xh16nrqvn5BFDdH3wB5kSmt4itbkjPfu03ART8WfSr0zUhb%2FgI60M0dirsr793BsCCjb5sbbJ2ffAPnnGEmntG9XmllaRVrE2CokrecbrVruwEXS%2Bg7B1PjKDvmaqnoq3JoH4sPM7T58z4bvgqYTxOJSaXMP%2FG0PAFOusBEpC6EltcttAr6w07aRlM8sQ7o6%2FtAcuAoZ9OVHrBBfTUKejREGbpWRzMHFpqQlKHhi%2BSdPZWweLjZ2ORtil%2Bqv0dLvST4NrE6076YZXy11CthlMrqfsdqKfXmyUjwKiD0X98ITAp4C6fMvROkZjGaSoXzP1bng3kHZtAKL1ulC%2BporDX%2Fpp%2Bz5jyYUfvL3br8jj4EHizxXXT7c7vfG7qbIrs8SHU%2FATiTUoDTL8FP3X2bZsZ1SPEx%2F7zlXBtiJ%2BK3UUbXJsMOH6k2NUFQlxgz7he2jyLFBUtN%2FncOEx7tmoNnQ3LXOSteq%2B%2Fgw%3D%3D&X-Amz-SignedHeaders=host&X-Amz-Signature=5d7b9a666e7875edc05f3206c408619c935bc7a060615b1d9deeb6fad52ce58b

The link is okay - just much longer than the actual report. I know we have some figures experts here so let's await their views.

I set out below a penetrating analysis of the Fund Accounts for the year ended 31 March 2019

There are 8 pages to the Accounts

page 1.
Title page. No change in the company name. The stamp on the page reveals the accounts were lodged on 28.12.2019 = 3 days before the deadline when fines are incurred. The Fund are always filed at the last moment.

page 2
Contents (ie Index). 3 items Company Info/Balance Sheet/Notes to the Financial Statements

page 3
Company info; Six Directors as last year: the McCanns, Uncle Brian, Friend Jon Corner, Lawyer Ed Smethurst, and Accountant John Griffin appointed c.2 years ago. other stuff as before. The official McCann website still lists Michael Linnett as a director when he died several years ago. No mention on the website that the latest accounts are now available.

pages 4 and 5
Balance Sheet

The net assets of the company have increased from £823,332 to £844,573.
Somebody owes the company £4703. The company owes £17,622.
The money in the bank at the year end 31 March 2019 is £236,187 similar to what was there at 31 March 2018

And the most exciting info on the balance sheet - the company approved the financial statements and their issue on 24 December 2019. How's that for dedication to the cause - having a Board meeting on Christmas Eve!

Pages 6,7 8
Notes to the Financial Statements

Essentially a copy and paste from last year with the year to march 2019 figures put in.

The value of the company's investments has increased from £594,198 in 2018 to £621,305.

Debtors. The Notes repeat the Balance Sheet info that £4,703 is owed to the company but merely states the debt is recoverable. What could this be?

Creditors.
The company owes tax £7,647 and accrued expenses £9,975 total £17,622.
Sales of wristbands and Tshirts must have been good to incur that tax liability (2018 tax liability £2,666) or maybe the extra tax also relates to dividends and interest received on the investments?

What are the accrued expenses? The company does not have an office and appears to do nothing so there wouldn't be utility bills due at the year end. Perhaps the accruals relate to directors' expenses eg travelling to the meeting on 24 December to approve the Accounts?

In Note 6 under Reserves, it is revealed that the company made a surplus of £21,241 for the year. Well done the magnificant six directors!

Note 9 reveals how generous Dr Kate McCann is - she donated £1,239 out of her post tax royalties from her book to the company. Now the book did have on its front cover that all royalties were going to the Fund but nice to have the auditors verify that this is happening.

I don't understand why there is no Directors Report commenting on the year. Obviously there is no legal need to include one, but you would have thought that the accountant on the Board John Griffin who is not (as far as we know) a friend or family member, would have suggested this.

Is there some award I can be nominated for, given my above incisive analysis all in the public interest?

Antonia wrote:Debtors. The Notes repeat the Balance Sheet info that £4,703 is owed to the company but merely states the debt is recoverable. What could this be?

How many more £70/months (or whatever it is) does Tony Bennett still have to cough up?

Antonia wrote:Is there some award I can be nominated for, given my above incisive analysis all in the public interest?

You're thinking that the £4,700 approx owed to them could be Tony's remaining debt?

Perhaps someone with access to CMoMM could find out.

I hope you enjoy your biscuits, Antonia.

P.S. On second thoughts, wouldn't his debt be due to them personally and not the company?

Freedom, you have to be right. Mr Bennetts conviction was about breaking orders not to publish 'defamatory' material about the McCanns and so hinder the 'search' so the settlement would have been due to the Mccanns personally.

So who does owe the Fund this £4,700?

Had a thought about the accruals (money owed at year end) - perhaps it wasn't all the directors expenses attending the Board meeting on Christmas Eve - some must have been an accrual for the auditors fees for these so informative accounts!

Veracity wrote:Just had a look. It's just the annual statement that has to be provided by law, ensuring all company details are up to date.

There was me hoping MPS had finally got off their butts and closed the whole ruddy thing down  

https://www.gov.uk/guidance/confirmation-statement-guidance

It's interesting which individuals and organizations hooked themselves to the bandwagon early on,  when money was flowing fast into the fund and when public money was being spent on leaving no stone unturned to damage-control, PR and lawyer-up find abducted Madeleine alive.

Clarence Mitchell was apparently convinced by the pair's innocence which lead him to quit his job as a civil servant because he 'wanted to help them'. Sweet of him. Lawyers Michael Caplan, none other than a QC, and Angus McBridge appeared to be following the (public) money convinced of the pair's innocence as did Portuguese lawyer Carlos Pinto de Abreu. Ester McVey jumped on the PR wagon, having known Kate since schooldays apparently, while Gerry's siblings Philomena and John were determined to 'keep it in the family', so to speak.

https://www.telegraph.co.uk/news/newstopics/madeleinemccann/1563653/Team-McCann-The-couples-key-staff.html

I have long been intrigued by the police involvement in the case (or lack of it). Gerry receiving a standing ovation at a Police Bravery Awards ceremony in London a few months after Madeleine disappeared was something of a mindf*** one might say (see link below).

https://metro.co.uk/2007/07/13/mccanns-thank-wonderful-police-540333/

However, it is interesting to read that Michael Caplan, QC, the lawyer hired by the McCanns (snipped from link below, my emphasis):

Caplan sits as a Recorder (judge) in the Crown Court, is a chairman of the police disciplinary appeal tribunal; and formerly was chairman of the Solicitors Higher Courts Advocates Association...................He is a member of the Sentencing Council and the Criminal Procedure Rule Committee.

http://genreith.de/MMcC/doku.php?id=michael_caplan

The expression foxes in charge of the hen coop springs to mind.

More abut the fund. I am sure many members of the public who donated money to help find Madeleine had no idea that the fund was a private business and not a registered charity.

Because the fund is a private business and not a registered charity, the money is not ring-fenced for a particular purpose and there is little to stop the McCanns using the money for legal fees.

The Charity Commission ruled that the fund could not be registered because its aims were not broad enough. Instead, Madeleine’s Fund: Leaving No Stone Unturned Ltd, was set up as a company. It means that the McCanns only have to get the directors' consent to access the cash.

As well as Miss McVey, the board includes Doug Skehan, 54, a clinical director of cardiology at Glenfield Hospital in Leicester and colleague of Mr McCann, Peter Hubner, 64, a retired consultant and Philip Tomlinson, 76, a lawyer, both of whom are friends.

John McCann, 48, Mr McCann's brother, and Mr Kennedy are also directors but Miss McVey said they would not be able to vote because they are family members.



ETA: I know this is old news, but it is useful to be reminded of who was involved in the early days of the setting up of The Fund.

https://www.telegraph.co.uk/news/uknews/1562813/McCanns-may-use-Madeleine-fund-for-defence.html

The accounts to 31 March 2020 are now due. You have 9 months after the year end to file accounts or be fined.

Nothing changes.

The accounts are always filed at the last legal minute despite Kate McCann's commitment in her book that the Fund would be open and transparent whatever it cost.

It doesn't even cost anything to file accounts in a timely manner!

I just checked Company House, very excited, expecting to find the Fund Accounts now filed. But they are not.

However, I found in a section, overview of the company, that the accounts to March 2020 are not due to March 2021. The filing deadline was 9 months after the year end. I was not aware that this aspect of company law had changed recently. Why would the government permit companies to leave filing accounts longer so the information in the accounts is largely irrelevant when they are filed?

Kate famously promised in her 'truthful' book that the Fund would be open and transparent whatever it cost. I have no doubt that the McCanns will take advantage of this change in company law and file as usual at the last legal moment.

There was I so looking forward to reading the latest riveting accounts and I'm going to have to wait a lot longer now. Shucks!

Maybe the extra time has been given because of the current lunacy - sorry, the pandemic?

Freedom wrote:There was I so looking forward to reading the latest riveting accounts and I'm going to have to wait a lot longer now. Shucks!

Maybe the extra time has been given because of the current lunacy - sorry, the pandemic?

I doubt the change is due to the virus. Filing is online; and staff can work at home. Can't see any need for a 3 month extension.

The McCanns have filed the Fund's accounts for the year ended 31 March 2020.

Date filed apparently today 14 April 2021.

The bad news is that it will take approx 10 days for the staff at Companies House to process them.

Their year end was Dec 31 and they changed it. I wonder why? Might relate to having more time to file before fines occur.

Great news folks - Fund Accounts now available.....!

Below my amazing analysis:

The cover page says it’s the audited financial statements for Madeleine’s Fund yet there is no Auditors Report inside!  On page 6 no.7 it states ‘the report of the auditors was unqualified.’ But where is this report?

The accounts as usual have been filed at the last legal moment.  This last minute filing has been the case ever since the company was set up in 2007. On a few occasions the accounts were filed late incurring fines.

How does it take a year to get accounts together for a company like this which is apparently doing very little?

As usual there is no Income and Expenditure Account so you can see where the income came from and what the money was spent on.  

Remember Kate said in her book -that the Fund would be open and transparent no matter what that would cost.  It costs nothing to put in a page in the accounts showing this! Unfortunately, UK company law for companies of this size does not require an Income and Expenditure Account so we don’t get one.

A few things you can get from the accounts:

Tax paid £6,320 – what taxable activities were there to attract that tax liability?  Did they sell a lot of high quality wrist bands?

Overall, the net assets of the Fund decreased by £70,944 over 2019. This is essentially due to the investments held losing value and a deficit of £55,385 (income less all expenditure) for the year.

Kate McCann donated her book royalties received in the year £6543 to the Fund ‘after deducting search fees of £5193.’

The Fund refunded legal costs of £4229 to Kate and Gerry re the libel action in Portugal.

How the Fund made the deficit (loss) of £55,385 (there was a surplus of £21,241 in 2019) is unclear as we only have the figures above from Notes to the Account.

There was £235,863 in the bank at the year end 31 March 2020. The Fund could give this to the police to help their search. I think the police are about now due to request a further budget to continue.