Jed mccory

[Batch]

10 Million turnover isn't huge, plus it certainly isn't an indication of profit.

[herthab]

More than Jed for a start, one of his companies turned over 10 million last year,  and he has more than one

I'm not a business man, but turnover doesn't equate to profit, does it? at least not after all costs have been deducted. Whether Seebeck is fronted by millionaires or Jed, it doesn't make me feel more comfortable.

[Samdy Gray]

Turnover means exactly nothing.

Saying this guy is loaded is just a punt.

[otanswell]

Well he certainly has more cash than Lee Power that's for sure, Power won't even say where his is coming from, because it's certainly not coming from his business exploits

[pauld]

Well he certainly has more cash than Lee Power that's for sure

Because you've seen both their bank accounts?

[wokinghamred]

I just did a quick scan on Adam Fynn's business empire.

Fynn Holdings (of which he owns 100%) owns 75% of Anderson Business Holdings, which turns over £26m, and has shareholders funds of £359K.

It also owns 50% of Esentual which turns over £19.5m and has shareholders funds of £35K.

Assuming he could sell each of Anderson and Esentual for a multiple of 10 X EBITDA, he could raise maybe £5.0m. At the moment, without having sold them, based on his entitlement to the shareholders funds, he is worth approx £400K.

Additionally he is a director of 31 companies, 28 of which are newly incorporated with no recorded trading record, and the other three have next to no value. He is not a shareholder in any of these.

He may be comfortably off, but he is no Andrew Black.

 

[wokinghamred]

I just did a quick scan on Adam Fynn's business empire.

Fynn Holdings (of which he owns 100%) owns 75% of Anderson Business Holdings, which turns over £26m, and has shareholders funds of £359K.

It also owns 50% of Esentual which turns over £19.5m and has shareholders funds of £35K.

Assuming he could sell each of Anderson and Esentual for a multiple of 10 X EBITDA, he could raise maybe £5.0m. At the moment, without having sold them, based on his entitlement to the shareholders funds, he is worth approx £400K.

Additionally he is a director of 31 companies, 28 of which are newly incorporated with no recorded trading record, and the other three have next to no value. He is not a shareholder in any of these.

He may be comfortably off, but he is no Andrew Black.

 

His entitlement to dividends from the two companies for the year to December 2013 was £639K.

[Dazzza]

Wotcha

http://www.linkedin.com/pub/adam-fynn/89/683/128

Looks like the Anderson Group is a payroll company.  Arguably its a tax avoidance scheme which has come under a lot of scrutiny of late.  Allowing companies to pay less tax as the employee is "self employed".

These companies are ten a penny and most of the claimed turnover, I would imagine, is the "self employed" wages going through the books. 

Bit more here...

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/290046/Onshore_Intermediaries_False_Self_Employment_Summary_of_Responses.pdf

Its a legit industry.  Just about but the loop holes on these types of schemes are closing. 

Not to do Mr Fynn a disservice, his companies are prosperous and the dividends he gets will make him relatively wealth compared to the great unwashed but on the evidence publicly available I don’t believe he would have adequate funds to subsidise the cash flow challenges and loses the football club has had in recent years.  Certainly not to the extend that has been needed recently.

[DMR]

It does mean he's clearly a savvy businessman though.

[iffy]

It does mean he's clearly a savvy businessman though.

Like Slavica Ecclestone.

[otanswell]

Been adjourned until a later date as parties can not come to an agreement

[tans]

Did anyone really expect them to reach an agreement?

This will go on all summer

[Saxondale]

Oh please not a whole summer of that twat dexter.

[Costanza]

I'm still not sure what's going on.

Do they want more money from Swinton Reds or ownership?

[Ells]

Oh please not a whole summer of that twat dexter.

Arguably better than a B*witched reunion presented by Andi Peters (or whatever the fuck was supposed to happen last year)