Selling The Family Silver

It is ironic we think that in an age of austerity that the local Folkestone & Hythe Conservative Association; based at 4 Westcliff Gardens, has had nearly ten years of running a deficit – many of them in five figures

Deficit (£)   2013,           2012                2011

                     13,912          15,825            20,442

in their accounts and the only way to clear them was to sell the family silver – ie their major asset the building.

In 2011 and 2012 the House – 4 Westcliff Gardens was valued at £175,000 in the accounts, yet in 2013 its value dropped by £40,000 to £135,000.

The price stated to have been paid on 4 September 2014 for 4 Westcliff Gardens was £135,100 according to the Land Registry and the Folkestone & Hythe Conservative Association accounts .

The House was bought by what appears to be a Pension fund outfit based in Tenterden according to the Land Registry

“D A PHILLIPS & CO LTD (Co. Regn. No. 02120249) of Bridewell House, Bridewell Lane, Tenterden TN30 6FA see:  http://dapco.co.uk/

and RAYMOND DOUGLAS JOHNSON of 136 Sandgate Road, Folkestone CT20 2BY the trustees of The Premier Trust”

What we see as Ironic here is that this is the Party which informs us that we must reduce the deficit and the debt are having difficulty managing their own. Well yes they have done this – after 10 years nearly – but to do so they sold their only asset, the building.

A further Irony is that the persons who signed off the accounts for the year 2014 on the 23rd Sept 2015 was a One Russell Tillson, former SDC Cllr who was investigated for Inappropriate Expense Claims and cleared of any wrondoing. Former Cllr Tillson was the registered Deputy and Honorary Treasurer on the said date.

Also former Conservative Cllr Peter Simmons – now an indpenedent Cllr – who is being investigated for inappropriate expenses claims and the report still awaited.

The rent they now pay for the building is £3,000 p.a. in the first instance, or on a weekly basis £57.69.

If in the future the Folkestone & Hythe Conservative Association run a deficit what else do they have to sell? Nothing it would appear. These are the people who who run our Council and have run up a debt of £62.5 million according to SDC’s accounts. Is this good financial stewardship? We’ll leave you to decide that.

Shepwayvox

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1 Comment on Selling The Family Silver

  1. A debt of £62.5 million do you say!
    Looks like we need them to explain how this has happened by releasing a full account of the proceedings from the time when we owed nothing including the individuals responsible for the decisions taken! We need that money back so where’s their recovery plan?
    If you run a business and there is a misstatement on the books, there is a serious inquest into how it occurred!
    Running a council is a responsible task whatever your political flavour!
    We tax payers need to know our money is being spent responsibly or those in charge need to lose their assets by paying it back!
    We are supposed to live in a capitalist society so lets use capitalist methods, it really makes even the most lackadaisical decision maker wake up and take notice!

    Like

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