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SnowmanDave


Posts: 186
Joined: Dec 2013
Last Visited: 12:36
3rd Mar 2021
Re: 2017-18 skier numbers
Date Posted: 15.42hrs on Mon 22 Oct 18
JollyDee Wrote:
CM spent 1 million more than it earned last year. Follow the money as to where that came from and you arrive at David Gorton. That's all you need to know.


Clear up a couple of points thenn…

Looking in detail at the last lodges accounts..most the in & out money makes sense & the amounts are fine...

Except this:- under 7.Creditors "Amounts due within one year to group undertakings for 2017" £1,890,770.


Basically CGML is being used to borrow against...by NAIL..which is what I stated would happen in a post way back when NR took over...

It also states in section 14 that under section33 FRS102 that you are not disclosing group company transactions..

It then lists the directors of NAIL & their other involvements etc.

It then in section 15 clearly states that CGML is wholly owned by the parent company Natural Assets Investments Ltd.

It then states that the ultimate controlling party is Mr.D. Gorton.


Now Mr. D. Gorton is only mentioned as he has a controlling voting share in NAIL....

Now the debenture with HSBC taken out by NAIL was signed by Tim Fearn & Anthony Wild.

Back in the beginning (2011-2013)of NAIL David Gorton is not a director etc of NAIL, but held 600shares at £1 each.(purchased in 2011).

In February 2013 a notice to strike off the company NAIL was issued & then withdrawn the next day...WTF was going on here???

600 to DG & 400 to K2 Equity Partners LLP in shares

DG became a Director of NAIL in Jan 2016...occupation "Fund manager"...

[document-api-images-prod.s3.eu-west-1.amazonaws.com]

Your accounts ending December 2015..state "The group has pledged land & buildings having a net book value of £22,898,793 to secure its bank loans by way of fixed charge.

It also states under creditors that NAIL owed the controlling party £3,100,000 to D.Gorton..& the amount is NOT subject to interest..

Then in the 2016 accounts it states that NAIL has made NO loan repayments to the principal shareholder..but...

"INTEREST IS ACCRUDED ON THESE LOANS WITH £3.7M CHARGED DURING THE YEAR (£2.6M CHARGED IN THE NINE MONTHS OF 2015).


also It states that it has a loan outstanding (£3,137,716)to Nexus Partners LP a company controlled by D.Gordon & the interest is 4.5% above the 3 month LIBOR rates...& is due for full repayment on 11th June 2022. The loan is secured by debenture over the assets of a subsidiary company...

Again it also states also states under creditors that NAIL owed the controlling party £3,100,000 to D.Gorton..& the amount is NOT subject to interest..

Also "during the year interest amounting to £3,633,498 was payable to D.Gorton".


There are huge amounts clocked up in expenses etc..& numerous inter-group money loans etc....

[document-api-images-prod.s3.eu-west-1.amazonaws.com]

---That was not a fall, I intended to do that!---
Hipennine


Posts: 1061
Joined: Dec 2005
Re: 2017-18 skier numbers
Date Posted: 16.26hrs on Mon 22 Oct 18
JollyDee Wrote:


Cairngorm Mountain is owned by David Gorton, a nice man who is trying to do his bit for the environment.



Please do tell us what he is doing as his bit for the environment?

Do you mean investing (to the tune of 36m) in a carbon credits trading scheme in the belief that it would reduce his tax bill, and then suing his advisors when it didn't ? ( [www.bloomberg.com] ).

That's the only environmental reference I can find.
SnowmanDave


Posts: 186
Joined: Dec 2013
Last Visited: 12:36
3rd Mar 2021
Re: 2017-18 skier numbers
Date Posted: 16.46hrs on Mon 22 Oct 18
Hipennine Wrote:
Please do tell us what he is doing as his bit for the environment?

Do you mean investing (to the tune of 36m) in a carbon credits trading scheme in the belief that it would reduce his tax bill, and then suing his advisors when it didn't ? ( ).

That's the only environmental reference I can find.


HAHA...that's a good laugh...



Had a quick look at the 18 companies that he is involved in as a Director & that are still active..


NAIL (that has numerous subsidiary companies) is in debt to the tune of -£36.3million.....

the others are +£68million total....so NAIL group of companies is losing money hand over fist ( & wipe out half the total value) & was doing so before they took over CGML...

Fund managers...gotta love them eh??….

---That was not a fall, I intended to do that!---
TroutWrestler


Posts: 162
Joined: Jan 2006
Last Visited: 18:01
16th Feb 2021
Re: 2017-18 skier numbers
Date Posted: 18.14hrs on Mon 22 Oct 18
The ski area at Cairngorm should be able to operate profitably to a modest degree. I think we can all agree that if you are looking to get rich quickly, you should look at a different market to Scottish Skiing.

The key for all Scottish Ski Centres is providing a service that meets the needs of the users at a price that they are willing to pay.

Recent evidence suggests that this is not happening at CGM.

The collapse in market share indicates that the service offered is not on par with what is available at the other ski centres in Scotland, and customers are voting with their feet.

If Mr Gorton has pumped a million pounds of his own money into CGM whilst simultaneously overseeing the collapse of the customer base, I would suggest that this indicates that something is going very wrong.

If things continue along the current tangent then one or both of the following will happen:
- The customer base will become unsustainable.
- Mr G will run out of money.
growwild


Posts: 3550
Joined: Oct 2005
Re: 2017-18 skier numbers
Date Posted: 19.36hrs on Mon 22 Oct 18
Haha, it's class when nerds tear an asshat a new one..

This guy got cash in the jersey or some other brit owned tax free NQA laundry too?
rtj1211


Posts: 14
Joined: Apr 2018
Last Visited: 10:44
23rd Mar 2020
Re: 2017-18 skier numbers
Date Posted: 20.50hrs on Thu 1 Nov 18
Glencoe has always had great potential as it is by far the shortest drive from a major urban centre (90 mins odd from Glasgow with a clear road).

It is not well served for weekly stays, so it must focus on ensuring all its day punters get good timely info when conditions suddenly arrive.
Beastie


Posts: 128
Joined: Dec 2013
Last Visited: 09:19
17th May 2020
Re: 2017-18 skier numbers
Date Posted: 20.55hrs on Thu 1 Nov 18
Be plenty of places to stay once the Kingshouse MegaPlexTastefulExtensionHyperHostel™ opens
carsey


Posts: 400
Joined: Jan 2016
Last Visited: 17:11
22nd Apr 2021
Re: 2017-18 skier numbers
Date Posted: 23.01hrs on Thu 1 Nov 18
What is happening with the Kingshouse?
alan


Posts: 10767
Joined: Nov 1994
Last Visited: 18:24
26th Feb 2024
What's this?What's this?What's this?
Re: 2017-18 skier numbers
Date Posted: 23.57hrs on Thu 1 Nov 18
carsey Wrote:
What is happening with the Kingshouse?


It was demolished! A new hotel is due to open next month. At least it’s not as bad as the original incarnation of the current design, but the loss of cultural heritage is a sore point with many.

Apparently the climbers bar will be rebuilt using its old fittings within the one surviving part of the original buildings, we’ll find out soon!
PeterS


Posts: 980
Joined: Feb 2003
Last Visited: 12:21
13th Mar 2021
What's this?What's this?What's this?
Re: 2017-18 skier numbers
Date Posted: 07.38hrs on Fri 2 Nov 18
Drove past it last week. Looked enormous but not too terrible. Seemed to be clad in Larch. I would imagine that it might be good news for Glencoe offering additional and alternative accommodation, almost in walking range.
Beastie


Posts: 128
Joined: Dec 2013
Last Visited: 09:19
17th May 2020
Re: 2017-18 skier numbers
Date Posted: 09.24hrs on Fri 2 Nov 18
I don't begrudge Kingshouse wanting to expand but they could easily have built the new thing to closely resemble the original building and still raked in the money. My worry is this is the first step in the Skye-ificaiton of Glencoe with too many people hitting the tame deer + Buachaille instagram spot and moving on.


what...snow


Posts: 328
Joined: Nov 2007
Last Visited: 11:21
22nd Apr 2021
Re: 2017-18 skier numbers
Date Posted: 09.38hrs on Fri 2 Nov 18
[www.winterhighland.info]

Too late. The tame deer was shot nearly ten years ago.

Neil
Beastie


Posts: 128
Joined: Dec 2013
Last Visited: 09:19
17th May 2020
Re: 2017-18 skier numbers
Date Posted: 09.40hrs on Fri 2 Nov 18
There's a whole herd, I've been more recently than 10 years ago and patted a deer.
JollyDee


Posts: 16
Joined: Oct 2018
Last Visited: 11:03
11th Aug 2019
Re: 2017-18 skier numbers
Date Posted: 12.15hrs on Sun 4 Nov 18
Gorton has considerable private money and is not going to run out.

But why would he want to put £1million of it into Cairngorm skiing?.

Unless he is insane of course.
Beastie


Posts: 128
Joined: Dec 2013
Last Visited: 09:19
17th May 2020
Re: 2017-18 skier numbers
Date Posted: 13.07hrs on Sun 4 Nov 18
HIE invested it, not Gorton.

Nonetheless I agree we should ask him what his motivations are for being involved in general.
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