{"id":7934,"date":"2024-04-03T08:42:09","date_gmt":"2024-04-03T08:42:09","guid":{"rendered":"https:\/\/scotslion.co.uk\/?page_id=7934"},"modified":"2024-04-08T12:14:49","modified_gmt":"2024-04-08T12:14:49","slug":"source-of-funds","status":"publish","type":"page","link":"https:\/\/scotslion.co.uk\/home-page\/source-of-funds\/","title":{"rendered":"source-of-funds"},"content":{"rendered":"\r\n\r\n\r\n\r\n\r\n
Section 1 of 4:-<\/span><\/pre>\r\n
House Purchases At Tod Head Lighthouse Station<\/span><\/strong><\/span><\/p>\r\n
Source of Funds ~ Summary<\/span><\/strong><\/span><\/p>\r\n
<\/strong><\/span><\/p>\r\n
<\/strong><\/span><\/p>\r\n
Bona Fides & Financial Credentials<\/span><\/strong><\/span><\/p>\r\n\r\n\r\n\r\n
The Source-of-Funds<\/em> to purchase Flat-3 at Tod<\/span> Head Lighthouse Station, Montrose, DD10 0TH for \u00a399,000 came directly from the sale of the Noss<\/span> Head Lighthouse Station buildings by Wick, KW1 4QT. This page contains the audit-trail and Source-of-Funds documentation. Both for the very recent Noss Head sale fund transfer to Hay Cassels Solicitors and onwards to the limited companies. Then from the limited companies to repay loan funds back to Russ McLean and David Rutherford. Thereafter a penultimate transfer of the funds belonging to Russ McLean and David Rutherford back to Hay Cassels solicitors to purchase a final home for Russ McLean (Flat-3). Plus assist in purchasing an adjacent home for a family member Paul Rutherford (Flat-2) to assist with disability issues.\"\" <\/strong><\/span><\/h3>\r\n
^^ Tod Head Lighthouse Station ^^<\/span><\/strong><\/h3>\r\n
Flat-3 Is 2-Storey As May Require A Lift<\/strong><\/span><\/p>\r\n
After The Spinal Surgery: Here<\/a><\/span><\/span><\/strong><\/span><\/p>\r\n\r\n
For completeness, in Sections 3 and 4 on this page includes a comprehensive set of documentation and in case it is required, the original<\/em> source-of-funds audit-trail to ensure the fullest account can be documented at this time.<\/strong><\/span><\/h3>\r\n
Example<\/strong><\/span><\/p>\r\n\"\"<\/a>\r\n
^^ Example of Source Documents ^^<\/strong><\/span><\/p>\r\n
\u00a399,000 From Here Repaid To Russ McLean<\/strong><\/span><\/p>\r\n
Thereafter Deployed To Purchase Flat-3 <\/strong><\/span><\/p>\r\n
At Tod Head Lighthouse Station.<\/strong><\/span><\/p>\r\n\r\n
\r\n
Paper equivalents to these online banking excerpts can be ordered from the company bank if so required. These can be signed and dated by the company directors and delivered to the company solicitors for the source-of-funds audit-trail. It will become apparent in the second and third segment of this page that there are al lot of real-world online excerpts to be ordered up in paper-format. This may take a two to four weeks to ingather.<\/strong><\/span><\/p>\r\n<\/blockquote>\r\n
SUMMARY:<\/span> In May 1987, following spinal injury whilst on duty in his employment at Strathclyde Police (here<\/a><\/span><\/span>) and repeated injury at four other incidents, Russ McLean’s career as a police officer ended prematurely after just 5 years service. Culminating in the first of a series of spinal surgeries (here<\/a><\/span><\/span>). This injury triggered a change in career. He was due to have a third bout of spinal surgery in April 2020, but the pandemic hit the UK several weeks earlier causing the<\/strong><\/span>\u00a0surgery to be postponed. This disability (along with a stroke and imminent heart surgery) are the reason for selling the far northern Noss Head Lighthouse Station (6~hour trip) and buying the Tod Head Lighthouse home (1~hour drive) from the family home in Carnoustie.<\/strong><\/h3>\r\n\"\"<\/a>\r\n
^^ Noss Head Lighthouse Home ^^<\/strong><\/span><\/p>\r\n
A 12 Hour Round Trip Journey Family in Carnoustie<\/strong><\/span><\/p>\r\n
Disability Has Ended An Ability To Travel Long Distances.<\/strong><\/span><\/p>\r\n\r\n
\r\n
The funds from the sale of the distant, north-coast Noss Head Lighthouse Station sale have been delivered to the company solicitors, Hay Cassels. These were then returned to the relevant limited companies. Those companies were financed from Russ McLean’s police service pension + superannuation + disability injury payment + sale of his sole or main residence since 1989 onwards. Now, 35 years later and 6 weeks in advance of his retirement on 23rd May 2024 (age 65), it is appropriate for the companies to return the funds it owes to Russ McLean. The funds he LENT to the limited companies have provided immeasurable relief at not wasting a life indolent through disability. It has been an active and useful life in spite of disability. The funds were instrumental in renovating at least 48 buildings and creating 203 new jobs. The companies operate on a not-for-profit basis, so no dividend, nor interest has ever been rendered. This is the same principal as for the two registered charities established from our main office premises.<\/strong><\/span><\/p>\r\n<\/blockquote>\r\n
The limited company funds are all ringfenced and the outstanding amounts owed to the two directors are scheduled to be repaid by the companies. Initially Russ McLean at, or just before his retirement age (65 years old on 23rd May 2024). A tranche of these funds is being deployed to buy a replacement home at Tod Head Lighthouse Station for \u00a399,000 and a second \u00a399,000 to assist a family member to live nearby during the imminent triumvirate of surgeries overdue from the pandemic lockdowns. <\/strong><\/span><\/p>\r\n
The new home will be at Flat-3, Tod Head Lighthouse Station…<\/strong><\/span><\/p>\r\n\"\"<\/a>\r\n
^^ Tod Head Lighthouse Home ^^<\/strong><\/span><\/p>\r\n
This is a 1~Hour Drive From Family in Carnoustie<\/strong><\/span><\/p>\r\n
Also, A Family Member Will Be Living Next Door <\/strong><\/span><\/p>\r\n
At Tod Head.\u00a0<\/strong><\/span>This Is Important Given <\/strong><\/span><\/p>\r\n
The <\/strong>Rehabilitation\u00a0<\/strong><\/span>Required After Spinal Surgery.<\/strong><\/span><\/p>\r\n
The difference in distances and logistical problems that are imminent following surgery can be seen when viewing the locations of both homes. The former at Noss Head Lighthouse Station in the far-north and the new home, which is much closer to family: Tod Head Lighthouse Station…<\/strong><\/span><\/p>\r\n
\"\"<\/a><\/p>\r\n
^^ Tod Head is Much Nearer To The Family Home in Carnoustie ^^<\/strong><\/span><\/p>\r\n\r\n
***********<\/span><\/h3>\r\n\r\n
\r\n\r\n
Section 2 of 4:-<\/span><\/pre>\r\n\r\n
\r\n\r\n
Source of Funds<\/strong><\/span><\/span><\/h3>\r\n
House Purchases At Tod Head Lighthouse Station<\/strong><\/span><\/span><\/p>\r\n
Bank & Land Registry Documents<\/strong><\/span><\/span><\/p>\r\n
Sections 3 and 4 have the historic origination regarding Source-of-Funds. However, we have uploaded the more recent documents to this Section 2 as the purchase of Flat-2 and Flat-3 is almost upon us and the documents are important in providing the requisite comforts to the company solicitor: to prove that the funds originate from a legitimate source. In this instance, that source is impeccable. The funds originate from Hay Cassels solicitors…<\/strong><\/span><\/p>\r\n
Source of Funds<\/strong><\/span><\/span><\/p>\r\n
Sale of Noss Head Keeper’s Cabin<\/strong><\/span><\/span><\/p>\r\n
Audit Trail of \u00a3100,021.86<\/strong><\/span><\/span><\/p>\r\n
\"\"<\/a><\/p>\r\n
<\/p>\r\n
^^ \u00a3100,021.86 From Hay Cassels ^^<\/strong><\/span><\/p>\r\n
To The Account of Noss Head Lighthouse Station Ltd<\/strong><\/span><\/p>\r\n
Source of Funds: On 7th December 2023, Hay Cassels solicitors transferred the sale funds of \u00a3100,021.86 relating to part of the sale funds from buildings sold at Noss Head Lighthouse Station. This \u00a3100,021.86 related to the sale of the Keeper’s Cabin…<\/strong><\/span><\/p>\r\n
\"\"<\/a><\/p>\r\n
\"\"<\/p>\r\n
\"\"<\/p>\r\n
^^ \u00a3100,021.86 From Hay Cassels ^^<\/strong><\/span><\/p>\r\n
Corroborative Official Source:\u00a0Click Here<\/a><\/span><\/span><\/strong><\/span><\/p>\r\n
***********<\/span><\/p>\r\n\r\n\r\n
\r\n
Source of Funds<\/strong><\/span><\/span><\/p>\r\n
Sale of Noss Head Road Land & Buildings<\/strong><\/span><\/span><\/p>\r\n
Audit Trail of \u00a332,570<\/strong><\/span><\/span><\/p>\r\n
Also on the Santander Statement for: “Noss Head Lighthouse Station Ltd” above is an inbound credit of \u00a332,570.00 from “Lindsays Solicitors” to the sale of our the Road + Car Park + Land (adjacent to the Engine House). <\/strong><\/span><\/p>\r\n
Lindsays Solicitors are the firm that our shareholder Robert Clifford retains. Rob Clifford is being trained to take over the directorships once Russ McLean retires. Hence the services of a firm of solicitors other than Hay Cassels in the first time since 1997 when Hay Cassels and our companies worked together year after year.<\/strong><\/span><\/p>\r\n
For the sake of good form, here is the documentary detail of the \u00a332,570 to corroborate from where the \u00a332,570 funds came…<\/strong><\/span><\/p>\r\n
\"\"<\/p>\r\n
^^ Sale of Residual Noss Head Private Road + Carpark + Land ^^<\/strong><\/span><\/p>\r\n
Bought By The Engine House Purchaser<\/strong><\/span><\/p>\r\n
& Both Titles Joined Back Together<\/strong><\/span><\/p>\r\n
\"\"<\/a><\/p>\r\n
\"\"<\/a><\/p>\r\n
\"\"<\/a><\/p>\r\n
^^ Source of Funds: \u00a332,570 ^^<\/strong><\/span><\/p>\r\n
^^ Sale of Residual Noss Head Private Road + Carpark + Land ^^<\/strong><\/span><\/p>\r\n
Bought By The Engine House Purchaser<\/strong><\/span><\/p>\r\n
& Both Titles Joined Back Together<\/strong><\/span><\/p>\r\n
Corroborative Official Source: Click Here<\/a><\/span><\/span><\/strong><\/span><\/p>\r\n
***********<\/span><\/p>\r\n\r\n\r\n
\r\n
Further funds of \u00a3120,000 were due from the sale of our Noss Head Lighthouse Engine House.<\/strong><\/span><\/p>\r\n\r\n
\r\n
=> HALF of these net funds were due to: Scotslion Ltd.<\/strong><\/span><\/p>\r\n
=> HALF of these net funds were due to: Unique Property Bulletin Ltd.<\/strong><\/span><\/p>\r\n<\/blockquote>\r\n
Below are the two corroborative bank statements detailing the \u00a359,630.30 (NET amount from the \u00a360,000 deposited into Scotslion Ltd., bank account.<\/strong><\/span><\/p>\r\n
\"\"<\/p>\r\n
^^ \u00a359,630.30 (NET amount from the \u00a360,000) ^^<\/strong><\/span><\/p>\r\n
Deposited Into The Scotslion Ltd., Bank Account.<\/strong><\/span><\/p>\r\n
and…<\/strong><\/em><\/span><\/p>\r\n
\"\"<\/p>\r\n
^^ \u00a359,630.30 (NET amount from the \u00a360,000) ^^<\/strong><\/span><\/p>\r\n
Deposited Into The Unique Property Bulletin Ltd., Bank Account.<\/strong><\/span><\/p>\r\n
For the sake of good form, here is the corroborative statement from Lindsays Solicitors evidencing the funds from the sale of the Engine House. After the \u00a3120,000 (\u00a360,000 gross due to the two companies we own and detailed in the two bank statements above, The balancing \u00a320,000 was paid to Rob Clifford as his share of the proceeds.<\/span><\/strong><\/p>\r\n
Here is the statement of account from Lindsays Solicitors as instructed by Rob Clifford…<\/span><\/strong><\/p>\r\n
\"\"<\/strong><\/span><\/p>\r\n
^^ \u00a3120,000 of This Paid as Follows ^^<\/strong><\/span><\/p>\r\n\r\n
\r\n
=> HALF of these net funds were due to: Scotslion Ltd.<\/strong><\/span><\/p>\r\n
=> HALF of these net funds were due to: Unique Property Bulletin Ltd.<\/strong><\/span><\/p>\r\n<\/blockquote>\r\n
Being \u00a360,000 (gross) to each company. Equating to \u00a359,630.30 (net).<\/strong><\/span><\/p>\r\n
\"\"<\/p>\r\n
\"\"<\/p>\r\n
^^ Engine House Sold ^^<\/strong><\/span><\/p>\r\n
2 x \u00a360,000 (\u00a3120,000 gross) Paid To Our Companies.<\/strong><\/span><\/p>\r\n\r\n
***********<\/strong><\/span><\/h3>\r\n\r\n
\r\n
Source of Funds<\/strong><\/span><\/span><\/p>\r\n
Audit Trail Totals<\/strong><\/span><\/span><\/p>\r\n
Paid To Noss Head Lighthouse Station Ltd<\/strong><\/span><\/span><\/p>\r\n\r\n
\r\n
Private Road + Carpark + Land: \u00a332,570\u00a0<\/span><\/strong><\/p>\r\n
Keeper’s Cabin:\u00a0\u00a0\u00a3100,021.86<\/span><\/strong><\/p>\r\n<\/blockquote>\r\n
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~<\/p>\r\n
Paid To Scotslion Ltd<\/strong><\/span><\/span><\/p>\r\n\r\n
\r\n
Share of Engine House Sale: \u00a359,630.30<\/span><\/strong><\/p>\r\n<\/blockquote>\r\n~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~\r\n
Paid To Unique Property Bulletin Ltd<\/strong><\/span><\/span><\/p>\r\n\r\n
\r\n
Share of Engine House Sale: \u00a359,630.30<\/span><\/strong><\/p>\r\n<\/blockquote>\r\n~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~\r\n
Total Funds Ingathered & Funds Sourced + Corroborated<\/strong><\/span><\/span><\/p>\r\n\r\n
\r\n
Grand Total: \u00a3251,851.95<\/span><\/strong><\/p>\r\n<\/blockquote>\r\n~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~\r\n
As was quite properly noted by wise counsel, these ingathered funds are held and owned by our companies. The total of these tranches of audit-trailed funds is…<\/strong><\/span><\/p>\r\n\r\n
\u00a3251,851.95<\/span><\/span><\/h3>\r\nDuring the past 30 years, Russ McLean and avid Rutherford have LENT these companies as per the official accounts filed with Companies House and for convenience to review, narrated in the\u00a0<\/strong><\/span>excerpts below, the sum of…<\/strong><\/span>\r\n
=> Lent to: Noss Head Lighthouse Station Ltd ~\u00a3170,000 (of \u00a3179,253).<\/strong><\/span>\r\n\r\n=> Lent to: Scotslion Ltd. ~ \u00a3250,000 (of \u00a3300,000).<\/strong><\/span>\r\n\r\n=> Lent to: Unique Property Bulletin Ltd. ~ \u00a3255,950 (of \u00a3305,950)<\/strong><\/span><\/blockquote>\r\n
The current total LENT by the Directors to the three Companies on this list is…<\/strong><\/span><\/p>\r\n\r\n
\u00a3675,950.00<\/span><\/span><\/h3>\r\n
Consequently, Russ McLean and David Rutherford will be withdrawing…<\/strong><\/span><\/p>\r\n\r\n
\r\n
=> Two tranches of\u00a0\u00a399,000, totalling \u00a3198,000 from funds they have lent to their three companies over the past 30 years and transferring this to Hay Cassels solicitors so that they are “in funds” for the imminent purchase of Flat-2 an Flat-3 at Tod Head lighthouse Station.<\/em><\/span><\/strong><\/p>\r\n<\/blockquote>\r\nPlus a tertiary withdrawal from their audit-trail funds to pay for…<\/strong><\/span>\r\n
=> Legal Fees + Disbursements.<\/strong><\/span>\r\n\r\n=> Property Purchase taxes.<\/strong><\/span>\r\n\r\n=> Buildings Insurance.<\/strong><\/span><\/blockquote>\r\n
We trust the aforementioned narrates and corroborates the Source of Funds.<\/strong><\/span><\/p>\r\n
To balance that, here are the accounts for each of the three limited companies, along with details of the original Source-of-Funds from when Russ McLean LENT his pension + superannuation + disability injury funds to his limited companies 30 years ago…<\/span><\/p>\r\n\r\n
***********<\/span><\/h3>\r\n\r\n
\r\n\r\n
Section 3 of 4:-<\/span><\/pre>\r\n
House Purchases At Tod Head Lighthouse Station<\/strong><\/span><\/span><\/p>\r\n
Source of Funds: Historic Detail<\/strong><\/span><\/span><\/p>\r\n
Company Accounts &<\/strong><\/span><\/span><\/p>\r\n
Pension + Disability Injury Funds + Earlier Home Sale Funds<\/strong><\/span><\/span><\/p>\r\n
 Loaned By Directors To The Companies<\/strong><\/span><\/span><\/p>\r\n
Russ McLean<\/strong> is retiring on the 23rd May 2024 (aged 65 years old). Consequently, it is time for the limited companies to repay some of the pension\/superannuation block funds back to him (audit-trail details below). \u00a399,000<\/strong> of which is to be deployed in purchasing Flat-3<\/strong> at Tod Head Lighthouse Station. This is where Russ will be retiring to and will be his permanent and likely final home. <\/span><\/p>\r\n
Plus adjacent will be a family member, Paul Rutherford,<\/strong> who shall be assisting Russ during post operative recovery will be living next door. Hence the reciprocal assistance in helping the family member purchase their own home: Flat-2.<\/strong><\/span><\/p>\r\n
First we detail the Company Accounts and relevant Loan Repayment forms from the three Companies back TO the Directors…<\/span><\/strong><\/p>\r\n\r\n\r\n
\r\n
Noss Head Lighthouse Station Ltd.<\/strong><\/span><\/p>\r\n
Repaying Part of Its Debt: Flat-3<\/strong><\/span><\/p>\r\n\r\n\r\n
\r\n\r\n\"\"<\/a>\r\n\r\n\"\"\r\n\r\n
\r\n\r\n\"\"\r\n
^^ The Directors Have Lent \u00a3170,000 ^^<\/strong><\/span><\/p>\r\n
^^ Of Their Own Pension Funds ^^<\/strong><\/span><\/p>\r\n
^^ To Noss Head Lighthouse Station Ltd ^^<\/strong><\/span><\/p>\r\n
Above is The Financial Instrument<\/strong><\/span><\/p>\r\n
Repaying \u00a399,000\u00a0<\/strong><\/span>To Help Purchase<\/strong><\/span><\/p>\r\n
Flat-3 at Tod Head Lighthouse Station<\/strong><\/span><\/p>\r\n
As At 8th & 9th April 2024.<\/strong><\/span><\/p>\r\n\r\n
***********<\/span><\/h3>\r\n
*<\/span><\/h3>\r\n
*<\/span><\/h3>\r\n\r\n
\r\n
Scotslion Ltd.<\/strong><\/span><\/p>\r\n
 Repaying Part of Its Debt: Flat-2<\/strong><\/span><\/p>\r\n
\"\"<\/p>\r\n\r\n\r\n
\r\n
\"\"<\/p>\r\n
\"\"<\/a><\/p>\r\n
^^ The Directors Have Lent \u00a3250,000 ^^<\/strong><\/span><\/p>\r\n
^^ Of Their Own Pension Funds ^^<\/strong><\/span><\/p>\r\n
^^ To Scotslion Ltd ^^<\/strong><\/span><\/p>\r\n
Above is The Financial Instrument<\/strong><\/span><\/p>\r\n
Repaying \u00a349,000\u00a0<\/strong><\/span>To Help Purchase<\/strong><\/span><\/p>\r\n
Flat-2 at Tod Head Lighthouse Station<\/strong><\/span><\/p>\r\n
As At 8th & 9th April 2024.<\/strong><\/span><\/p>\r\n\r\n
***********<\/strong><\/span><\/h3>\r\n
*<\/strong><\/span><\/h3>\r\n
*<\/strong><\/span><\/h3>\r\n\r\n
\r\n
Noss Head Lighthouse Station Ltd.<\/strong><\/span><\/p>\r\n
Repaying Part of Its Debt: Flat-2<\/strong><\/span><\/p>\r\n
\"\"<\/p>\r\n
\u00a0The Directors Have Lent \u00a3170,000 ^^<\/strong><\/span><\/p>\r\n
^^ Of Their Own Pension Funds ^^<\/strong><\/span><\/p>\r\n
^^ To Noss Head Lighthouse Station Ltd ^^<\/strong><\/span><\/p>\r\n
Above is The Financial Instrument<\/strong><\/span><\/p>\r\n
Repaying \u00a336,000\u00a0<\/strong><\/span>To Help Purchase<\/strong><\/span><\/p>\r\n
Flat-2 at Tod Head Lighthouse Station<\/strong><\/span><\/p>\r\n
As At 8th & 9th April 2024.<\/strong><\/span><\/p>\r\n\r\n
***********<\/span><\/h3>\r\n
*<\/span><\/h3>\r\n
*<\/span><\/h3>\r\n\r\n
\r\n
Unique Property Bulletin Ltd.<\/strong><\/span><\/p>\r\n
Repaying Part of Its Debt: Flat-2<\/strong><\/span><\/p>\r\n\"\"\r\n\r\n
\r\n\r\n\"\"\r\n\r\n
\r\n\r\n\"\"\r\n
^^ The Directors Have Lent \u00a3255,950 ^^<\/strong><\/span><\/p>\r\n
^^ Of Their Own Pension Funds ^^<\/strong><\/span><\/p>\r\n
^^ To Unique Property Bulletin Ltd ^^<\/strong><\/span><\/p>\r\n
Above is The Financial Instrument<\/strong><\/span><\/p>\r\n
Repaying \u00a314,000\u00a0<\/strong><\/span>To Help Purchase<\/strong><\/span><\/p>\r\n
Flat-2 at Tod Head Lighthouse Station<\/strong><\/span><\/p>\r\n
As At 8th & 9th April 2024.<\/strong><\/span><\/p>\r\n\r\n
***********<\/span><\/h3>\r\n
*<\/strong><\/span><\/h3>\r\n
*<\/strong><\/span><\/h3>\r\n\r\n
\r\n
Santander Bank Account Coding<\/strong><\/span><\/span><\/p>\r\n
To Assist With Online Account Audit<\/strong><\/span><\/span><\/p>\r\n
& Maintaining Security Against Hackers<\/strong><\/span><\/span><\/p>\r\n\r\n\r\n
\r\n\r\n\r\n\r\n
\r\n\r\n
***********<\/span><\/h3>\r\n
*<\/span><\/h3>\r\n
*<\/span><\/h3>\r\n\r\n
\r\n\r\n
Section 4 of 4:-<\/span><\/pre>\r\n
House Purchases At Tod Head Lighthouse Station<\/span><\/strong><\/span><\/p>\r\n
Source of Funds: Full Audit Trail<\/span><\/strong><\/span><\/p>\r\n
Historic Origination of Funds<\/span><\/strong><\/span><\/p>\r\n\r\n
In 1987 and 1988 our first company director, Russell McLean LENT his limited companies’ sufficient start-up funds in 1989 from his police pension and sale of his first home to enable their financial viability.<\/strong><\/span><\/h3>\r\n
In 1994 the founding director sold his first home near to London and LENT half of surplus\/equity to enable the company to become a plc (public limited company). The other half of the surplus funds were deployed in the purchase of Business Expansion Scheme plc shares in the newly reorganised Unique Property plc.<\/strong><\/span><\/h3>\r\n
In 1994 the founding director had moved homes to the curtilage of the M25 near London. After three years there, he sold his home and returned to Scotland. There had been a substantial uplift in London property prices and the founding director was able to move back to Argyll and buy his third home without the need of a mortgage and still have hundreds of thousands of pounds to LEND the limited companies. Sadly he had lost a friend to debt-suicide whilst in London. Rather than just warm words to his widow, a support organisation was formed. <\/strong><\/span><\/h3>\r\n
This is relevant as it provides the logic as to why neither our founding director, nor any of our companies has ever gone near a mortgage ever since working in London. For the sake of good form, here is the official excerpt of that organisation established in 1996 and we ran it for just over 10 years…<\/strong><\/span><\/h3>\r\n
<\/h3>\r\n
Original & Possible Re-Registration of Organisation<\/strong><\/span><\/p>\r\n
Source: Click Here<\/a><\/span><\/span><\/strong><\/span><\/p>\r\n
We managed 10 years. It was not diagnosed at that time, but the director had PTSD as a police officer and there were issues that had d been exacerbated by the conduct of the banks (two suicides by firearm during police service). During the course of the charity’s life, the Chancellor of the Exchequer gave us two personal assurance (i) to place “financial literacy” onto school curricula, and (ii) that “boom and bust” had ended. The first was honoured and is still ongoing (here). The second was a mantra issued every year (here). Given the credentials of one of the great office s of State, we took the author of these words as honest and, after 10 years efforts, we brought the charity to a close 2006.<\/strong><\/span><\/p>\r\n\r\n
***********<\/span><\/h3>\r\n
*<\/span><\/h3>\r\n
**<\/span><\/h3>\r\n\r\n
\r\n\r\n
\u00a0Historic Source of Funds<\/span><\/span><\/h3>\r\n
Focussing back onto the historic Source of funds, now, just 6 weeks until his retirement (at 65 years of age), the time has come for the limited companies to RETURN the money lent to them. Hence this \u00a399,000 + \u00a399,000 return of funds to buy a home for retirement and help a family member buy a home next door as the director is disabled and awaiting further spinal surgery.<\/strong><\/span><\/h3>\r\n
\"\"<\/a><\/p>\r\n