Author Topic: 1: The Business Plan and the £450,000 Loan to Digital City (UK) Ltd  (Read 29687 times)

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Offline Mart

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Re: 1: The Business Plan and the £450,000 Loan to Digital City (UK) Ltd
« Reply #100 on: February 21, 2011, 08:17:51 PM »
Pity it ain't bleedin hangin from it........

Altogether now:

I'm hanging from a lamp, maybe you think, I look a tramp,
Or you may think I'm hanging 'round to steal a motor-car.
But no I'm not a crook, And if you think, that's what I look,


Ha ha (That's my bit)

I'll tell you why I'm here, And what my motives are.

(Tempo Change)

I'm hanging from a lamp-post at the corner of the street,
In case a certain little lady comes by.
Oh me, oh my, I hope the little lady comes by.
I don't know if she'll get away, She doesn't always get away,
But anyhow I know that she'll try.
Oh me, oh my, I hope the little lady comes by,
There's no other girl I would wait for, But this one I'd break any date
for,
I won't have to ask what she's late for, She wouldn't have to leave me
flat,
She's not a girl like that.
Oh, she's absolutely wonderful, and marvellous and beautiful.
And anyone can understand why,
I'm hanging from a lamp-post at the corner of the street
In case a certain little lady passes by.

(Tempo change)

I'm hanging from a lamp-post at the corner of the street,
In case a certain little lady comes by.
Oh me, oh my, I hope the little lady goes do do do dah dah dee dee dee.....
I don't know if she'll get away, She doesn't always get away,
But anyhow I know that she'll try.
Oh me, oh my, I hope the little lady comes by,
There's no other girl I would wait for, But this one I'd break any date
for,
I won't have to ask what she's late for, She wouldn't have to leave me
flat,
She's not a girl like that.
Oh, she's absolutely wonderful, and marvellous and beautiful.
And anyone can understand why,
I'm hanging from a lamp-post at the corner of the street
In case a certain little lady passes by
.

Leaning on a Lamp Post Small | Large


With apologies to George Gay.

Good name.

Bet he had fun at school.



Sometimes I think you have to march right in and demand your rights, even if you don’t know what your rights are, or who the person is you’re talking to. Then, on the way out, slam the door.

Offline Ringer

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Re: 1: The Business Plan and the £450,000 Loan to Digital City (UK) Ltd
« Reply #101 on: February 21, 2011, 08:32:36 PM »
Strike a light Guv'nor.  ))))
To qualify for inclusion there is only one rule - something described must have been said to have happened. `If the facts don`t fit the legend, print

Offline Richard Symonds

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Re: 1: The Business Plan and the £450,000 Loan to Digital City (UK) Ltd
« Reply #102 on: August 07, 2011, 10:50:58 AM »
This subject came to mind when we are debating the cost of £600,000 for the forthcoming 'do we privatise the Council Housing Stock' vote?

Is this money about to be repaid and will therefore contribute to this cost or does this just make it a cool £1m that the council is wasting?
All my posts are my own opinion and do not represent any political organization or group

Offline Outoftowner

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Re: 1: The Business Plan and the £450,000 Loan to Digital City (UK) Ltd
« Reply #103 on: August 20, 2011, 11:46:04 AM »
J.Perrins Freedom of Information Request about the Wi-Fi loan agreements (below) got a refusal yesterday on grounds of "Confidentiality."

Quote
J Perrin

20 June 2011

Dear Swindon Borough Council,

Please could you

- send me have a copies of all loan agreements related to the wifi
project over the last 3 years.

- let me know how much was loaned, the expected amount of money to
be repaid, the total amount paid back to date, the amount
outstanding and the final due date.

- what steps is the council taking to recover any outstanding
amounts.

- confirm all the parties who were involved in the recent
non-disclousure order. This order has now ceased so there is no
problem in releasing this information.

- send me a copy of the policy for small businesses wishing the
council to invest in them

- which people at the council are working on wifi to see the scheme
a success? and what are their qualifications in the field of IT and
wifi technology

- who made the decision to loan money to the wifi company, and what
were their qualifications in the field of IT and wifi technology?

- send me any internal report which the council has done on wifi.
This should include any about the feasibility of the idea, how much
money the council could make or save by signing up.

If any part of this request is over the allowed time limit, please
treat each line as a separate request.

My advice to SBC is;  Look, you are in a very deep hole. Stop digging!
What's it all about?

Offline Richard Symonds

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Re: 1: The Business Plan and the £450,000 Loan to Digital City (UK) Ltd
« Reply #104 on: August 20, 2011, 02:03:53 PM »
J.Perrins Freedom of Information Request about the Wi-Fi loan agreements (below) got a refusal yesterday on grounds of "Confidentiality."

My advice to SBC is;  Look, you are in a very deep hole. Stop digging!

Mr J Perrin is geting too close to the knuckle and so I am not surprised he got a refusal.  Why did it take so long?  Was it to give the impression that they were going to answer it but all the time had absolutely no intention of doing so?

As you say Outoftowner stop digging SBC before the roof comes in on top of all of you.  I just wonder how many people will be terminally damaged by this whole unsavoury business?

It makes quite a mockery of the Freedom of Information Act does it not as I thought we were talking about public money here?  Is there to be no accountability for anything this administration does?

Just wait for the elections it should give a field day to any opposition, worthy of the name.

Anyway other events may well have overtaken the protagonists by that time and raises the question as to just how many fires can be fought at once and then which ones have priority?

Meanwhile should Mr Rikki Hunt be considered a suitable Chairman of the Swindon Strategic Economic Partnership when his tenancy as Chief Executive of Digital City saw his business success amount to 20 odd paying customers for an investment of £400,000 by our highly Innovative and Vibrant Council?
All my posts are my own opinion and do not represent any political organization or group

Offline ph1lc

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Re: 1: The Business Plan and the £450,000 Loan to Digital City (UK) Ltd
« Reply #105 on: August 20, 2011, 02:14:41 PM »
In answer to your last paragraph Richard - most certainly NOT!! Anyone with an ounce of decency would, after the wifi flop, have resigned. Clearly "for free" does not have any.

SBC and Gavins Jone's attitude is an absolute disgrace. The report in to Hitesh Patel and his "accidental" directorship should be made public, for the simple reason that there was a potential conflict of interest. Gavin Jones owesit to Patel to prove that his name was cleared. His refusal to publish can only lead to people thinking that Patel did have something to hide.

Offline Richard Symonds

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Re: 1: The Business Plan and the £450,000 Loan to Digital City (UK) Ltd
« Reply #106 on: April 08, 2012, 06:23:21 PM »
I have just found my letter to the Advertiser which I understand was printed in hard copy.

http://www.swindonadvertiser.co.uk/yoursay/swindonletters/9632241.Living_church_has_to_move_with_times/

Third Letter down!!

Are you hiding?

I have just returned from the last full council meeting before the elections and asked the following two questions:

1.  What precedent exists in the public sector for a council to pay for the preparation of accounts for a Private Limited Company to whom it made a business loan?

2.  By what means does the council intend to make these accounts available to the people of Swindon?

The deputy leader and Director of Digital City (UK) Ltd., councillor Garry Perkins answered in his abbreviated style that he would give a ‘written answer’.

As a supplementary question I asked if he would be including the written answers to the questions I asked at full council last April 2011? He replied that he would answer the questions asked tonight. Madame Mayor refused me the opportunity to ask any further questions, which is unfortunate and contrary to the spirit of public engagement.

Is this the right way for a council to conduct its business and does it indicate they have something to hide? It will be very interesting to see if the Deputy Leader writes this time when he has failed previously.

Richard Symonds The Bramptons Swindon


Don't you agree we now need to see the accounts which have be prepared with our money?
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Offline swindoncentric

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Re: 1: The Business Plan and the £450,000 Loan to Digital City (UK) Ltd
« Reply #107 on: April 17, 2012, 09:35:37 PM »
Just found this video in the massive wi-failed threads, originally posted on TS by Chris Watts.

Wonder what such an interview would include if done today!

http://youtu.be/PjIPN2At4Qs

Offline Richard Symonds

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Re: 1: The Business Plan and the £450,000 Loan to Digital City (UK) Ltd
« Reply #108 on: April 18, 2012, 10:59:26 AM »
The interview took place on April 28th 2011 and makes extremely interesting listening, in the light of subsequent developments!

So why did we, the Council Tax Payers of Swindon have to fund the preparation of Accounts Rod and when do you intend to make them available to us, Rod?

Swindon C do you intend to cross refer it to the Old Town link?
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Offline swindoncentric

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Re: 1: The Business Plan and the £450,000 Loan to Digital City (UK) Ltd
« Reply #109 on: April 20, 2012, 08:27:55 AM »
Swindon 105 radio reporting that the Digital City accounts have been done, but not filed.

Why not file them ASAP?

Offline Geoff Reid

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Re: 1: The Business Plan and the £450,000 Loan to Digital City (UK) Ltd
« Reply #110 on: April 20, 2012, 10:30:08 AM »
Swindon 105 radio reporting that the Digital City accounts have been done, but not filed.

Why not file them ASAP?

Because they don't want them to be publicly available prior to the Local Elections on May 3rd ?

...and they know that some Vile Bastard will undoubtedly publicise their eventual and long awaited emergence into the night on the interweb within nano-seconds of their becoming available at Companies House :popcorn:



Offline Muggins

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Re: 1: The Business Plan and the £450,000 Loan to Digital City (UK) Ltd
« Reply #111 on: April 20, 2012, 10:44:28 AM »
They have beenr eproting onthe radio this mornring that the business that is putting up the dishes for the new Wifi, (sorry, you know me and technology) are saying they can recover the £400,000 lost so far, but surely they cannot recover that money?

so are they saying they can easily make SBC £400,000 - if so, surely that would have been extra if the £400,000 hadn't disappered and we would be quids in to the tune of £800,000 pretty soon?

I make it we have have still lost £400,000, or am i missing something?
Oi! Listen mush. Old eyes, remember? I’ve been around the block a few times. More than a few. They’ve knocked down the blocks I’ve been around and rebuilt them as bigger blocks. Super blocks. And I’ve been round them as well.  The Doctor (Night Terrors)

Offline Geoff Reid

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Re: 1: The Business Plan and the £450,000 Loan to Digital City (UK) Ltd
« Reply #112 on: April 20, 2012, 11:55:02 AM »
They have beenr eproting onthe radio this mornring that the business that is putting up the dishes for the new Wifi, (sorry, you know me and technology) are saying they can recover the £400,000 lost so far, but surely they cannot recover that money?

so are they saying they can easily make SBC £400,000 - if so, surely that would have been extra if the £400,000 hadn't disappered and we would be quids in to the tune of £800,000 pretty soon?

I make it we have have still lost £400,000, or am i missing something?

To put it very simply:

Swindon Borough Council lent Digital City (UK) Ltd £400,000 from the public purse.

Digital City (UK) Ltd has not paid back any of  the loan capital, (£400,000), or the full amount of interest now due on the un-repaid capital.

As Digital City is not trading, has no paying customers, no capital and no mercantile assets which can be liquidised to the value of £400,000 + due interest, then the money lent to Digital City (UK) Ltd is lost unless SBC chooses to legally pursue its own Deputy Leader, (also Digital City Director),  Cllr Garry Perkins of Shaw Ward.  Rikki Hunt appears to be Teflon coated as far as SBC are concerned, so they won't pursue him.  My personal opinion is that Council Directors and certain Cllr's are terrified that someone knows where bones are buried and it would be a simple matter to bury the Cllrs with that knowledge.

It is possible that another company is making another £400,000, and that some or all of it might end up in the council coffers, but it cannot be the same £400,000 unpaid loan plus interest owed to SBC by Digital City (UK) Ltd.


Think on this:

I lend £20 to my Son, but he refuses to pay it back.  My wife is really angry, so I go to an ATM and take another £20 out of our bank account and tell her: "Don't worry love, I've recovered the £20 from another source".  Have I recovered the £20 my son owes me?

I haven't taken anything from my son to the value of £20.  I haven't sold anything of his worth £20 and kept the money.  My Son still owes me £20.

If I borrowed or earned another £20 from another source, have I made back the £20 my son owes me, or does he still owe me £20?

I think Councillors and Officers are working furiously to find a way to account for the loss of £400,000 without having to follow the usual means of recovering money owed to it by a now-bankrupt former 'mentor' to council employees* and the deputy leader of the council who also happens to be a Director of the Company which owes the council £400,000.

This is exactly the sort of stinking, rotten outcome you get when politicians think they know better than experts and won't listen to reason or the public.  All of this could have been easily avoided, but now we're witnessing the extraordinary lengths some people will go to to prevent themselves and their friends from being held publicly, legally and morally accountable for their actions with our money.

* When SBC paid Rikki Hunt £82,000 to 'mentor' council employees, did any of those mentee's later become apologists for him, the wifi'asco generally, and are any of them now involved in propagating the 'money is being recovered by other means' fairytale?


Offline ph1lc

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Re: 1: The Business Plan and the £450,000 Loan to Digital City (UK) Ltd
« Reply #113 on: April 20, 2012, 01:24:19 PM »
Swindon 105 radio reporting that the Digital City accounts have been done, but not filed.

Why not file them ASAP?
[/quote
Because accounts have to be formally approved by the board and signed by a director.

Offline Muggins

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Re: 1: The Business Plan and the £450,000 Loan to Digital City (UK) Ltd
« Reply #114 on: April 20, 2012, 02:12:57 PM »
And what does it mean by the accounts are done?  Have they been done to trial balance or have they been audited, because I can't see how they can be filed until they have been audited.

Mind I've had a very recent experience with Companies House that leads me to beleive that not everything is at it should be there either.  i.e. we were told they do not communicate certain decisions, but we later received a letter about said decision.
Oi! Listen mush. Old eyes, remember? I’ve been around the block a few times. More than a few. They’ve knocked down the blocks I’ve been around and rebuilt them as bigger blocks. Super blocks. And I’ve been round them as well.  The Doctor (Night Terrors)

Offline Geoff Reid

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Re: 1: The Business Plan and the £450,000 Loan to Digital City (UK) Ltd
« Reply #115 on: April 20, 2012, 05:14:30 PM »

Swindon 105 radio reporting that the Digital City accounts have been done, but not filed.

Why not file them ASAP?

Because accounts have to be formally approved by the board and signed by a director.

And Digital City Director/Deputy leader of SBC (Cllr) Garry Perkins, standing for election in Shaw next month, is unlikely to want to raise the pre-election profile of the WiFi'asco by filing the accounts and then applying for a strike-off at Companies House?

Offline ph1lc

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Re: 1: The Business Plan and the £450,000 Loan to Digital City (UK) Ltd
« Reply #116 on: April 20, 2012, 06:55:39 PM »
They will have been completed - not necessarily audited. There is no need for DC to have it's accounts audited.

Geoff - I agree about Perkins wanting the election first. We all know that DC is never going to be able to pay SBC - as soon as the accounts are published then SBC will have to write off the £400k.

as I suspect that the Director of Finance  at SBC has already seen the accounts, then this should be written off.

Offline Muggins

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Re: 1: The Business Plan and the £450,000 Loan to Digital City (UK) Ltd
« Reply #117 on: April 21, 2012, 08:11:51 AM »
"There is no need for DC to have it's accounts audited."

Why not PH?
Oi! Listen mush. Old eyes, remember? I’ve been around the block a few times. More than a few. They’ve knocked down the blocks I’ve been around and rebuilt them as bigger blocks. Super blocks. And I’ve been round them as well.  The Doctor (Night Terrors)

Offline ph1lc

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Re: 1: The Business Plan and the £450,000 Loan to Digital City (UK) Ltd
« Reply #118 on: April 21, 2012, 09:13:00 AM »
The companies act says any small company with turnover under 6.5 million is exempt from audit.


Offline Mart

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Re: 1: The Business Plan and the £450,000 Loan to Digital City (UK) Ltd
« Reply #119 on: April 21, 2012, 10:25:06 AM »
Ah, and to be honest it was always destined to be a turnunder rather than a turnover.

A snapshot of the market it was trying to compete in.

Virgin rang me on Tuesday, I sighed, expecting to be offered another bleedin Blackberry but no.

I was offered calls anytime on the landline, 60 mbps broadband (what is an MB anyway?) the V+ shifted to the second telly, a superhub (!) and a Tivo box all at £5 less a month than me current package, after being assured that there was definitely and absolutely no Blackberry involved I said, 'Yes please'.

All of the above is now installed and running.

The conciliatory part of me wonders if £400k was actually a bargain turnunder. I don't listen much to the conciliatory part of me though.
Sometimes I think you have to march right in and demand your rights, even if you don’t know what your rights are, or who the person is you’re talking to. Then, on the way out, slam the door.