Companies House Changes

[AFJM78]

Morning. There was some significant activity on Companies House yesterday. Any one got any inside info? Hope its not sad news

 

https://find-and-update.company-information.service.gov.uk/company/02737866/filing-history

 

https://find-and-update.company-information.service.gov.uk/company/04348175/filing-history

[gooner1990]

I'm no expert but that looks to me like ME officially handing the reigns  over to EE.  

 

The Old Mill Trust Foundation appears to be an accountants.  

 

Given that ME has just turned 89 it may just be planning ahead for things that will sadly come sooner rather than later.

 

[dotdash79]

Looks like a trust has been set up and ME’s shares have been moved into the trust. So looks to be estate planning, would expect some other none farming assets to be moved into trust. 
 

I did read somewhere the other day farms and farm land isn’t in scope for inheritance tax. 

[A Particular Grey Chihuahu]

Got to do these things. I've just been sorting some power of attorney things with my parents. I definitely want to make sure I inherit that £500 when they go 😝

[Ayrshire Chris]

There’s possibly major changes about to happen to inheritance taxes. Maybe that’s the reason for changes. I’m sure the accountants know what they are doing. 

[efcfanwirral]

8 minutes ago, Ayrshire Chris said:

There’s possibly major changes about to happen to inheritance taxes. Maybe that’s the reason for changes. I’m sure the accountants know what they are doing. 

ha yeah the timing is definitely for that

[DDave]

posted in the wrong thread, please ignore

Edited 4 hours ago by DDave

[Yoghurt on a Stick]

8 hours ago, dotdash79 said:

Looks like a trust has been set up and ME’s shares have been moved into the trust. So looks to be estate planning, would expect some other none farming assets to be moved into trust. 
 

I did read somewhere the other day farms and farm land isn’t in scope for inheritance tax. 

 

Whatever the reason, you just 'know' efficiency is at play. 

[Yoghurt on a Stick]

3 hours ago, A Particular Grey Chihuahu said:

Got to do these things. I've just been sorting some power of attorney things with my parents. I definitely want to make sure I inherit that £500 when they go 😝

 

In the same boat, only the amount is in the millions. I find out next Tuesday night just how much of a kick in the bollocks my now dead dad is going to give me. Being one of two black sheep of the family, it doesn't bode well. In fact, I think he's taking a right run up right now from beyond the grave to provide that boot into my 'stones' at the highest velocity he can muster. 

 

To the males out there - ever sat down on one, or both, of your own nuts? Well, that's the most exquisite pain my nuts have ever experienced, having 'been there', so to speak. Well, that'll be nothing compared to the possibility of this potential 'assault'.  lol

 

 

[Ayrshire Chris]

4 hours ago, A Particular Grey Chihuahu said:

Got to do these things. I've just been sorting some power of attorney things with my parents. I definitely want to make sure I inherit that £500 when they go 😝

Sadly I’m at the other end of that and have set up POA and will for my family. I need to know my Glastonbury memorabilia, wristbands etc don’t end up in a jumble sale😉😊

[incident]

So judging from what's publicly available following the changes yesterday:

 

GFEL Ltd (the main company, that puts on the festival) has been handed directly and fully from Michael to Emily.

 

GFL Ltd is a bit more complicated, but a controlling majority stake has been transferred from ME to a trust in his name.

 

Manorborder Limited (which I believe handles Worthy Farm / Festival related property) is still majority owned directly by ME, but with a reduced stake - shares totalling approximately 18% of the company have been split amongst the 5 children.

[Yoghurt on a Stick]

37 minutes ago, incident said:

So judging from what's publicly available following the changes yesterday:

 

GFEL Ltd (the main company, that puts on the festival) has been handed directly and fully from Michael to Emily.

 

GFL Ltd is a bit more complicated, but a controlling majority stake has been transferred from ME to a trust in his name.

 

Manorborder Limited (which I believe handles Worthy Farm / Festival related property) is still majority owned directly by ME, but with a reduced stake - shares totalling approximately 18% of the company have been split amongst the 5 children.

 

Thank you for the increased clarification.