Documents & Due Diligence: Purchase of 258 High Street, Arbroath, Angus, DD11 1JE by the company I direct: Angus Aviation & Shipping Ltd. Company number SC422503. Official record at Companies House: Click Here.
Given the short time between the request for this information and the forensic detail, along with any supplementary requests that may follow the substantive questions, I am placing all the requested information on this page. This should help both your office and mine to expedite the process and ensure all the “i”s are dotted and “t”s crossed, should any further information be requested. Especially as we are in the midst of a global pandemic which, by its nature is adding several day to correspondence and we only have 36 to 48 hours to remedy the questions you ask. My authority to supply information electronically to via one of our company websites is underwritten within our Company’s Memorandum & Articles of Association…
Herewith the documents and source links in relation to the legal conveyancing requests:-
QUESTION 1]. We would also require proof of address for the company’s place of business.
ANSWER 1]. We always place each building purchased into the ownership of a newly registered or “dormant” shelf company set aside for these very purposes. Specifically to “ring-fence” the accounts and renovation budget. For the acquisition of 258 High Street, Arbroath we are re-activating one of our dormant companies, official number SC422503. By virtue of the fact this company is dormant, there is very little correspondence that is capable of satisfying your question.
However, I would submit, as a gold standard, the UK government’s own database in providing the appropriate veracity of identification that should purify the requirement on ID. The official government record evidencing our companies place of business is as per this screenshot. For the live link to that source of information, please: Click here.
QUESTION 2]. We would also be obliged if you would confirm that in terms of the Memorandum and Articles of Association of the company that it is within the remit of the company to purchase heritable property.
ANSWER 2]. Pro Forma Memorandum & Articles of Association (MoA) from our company formation agents no longer include narrow, nor even broad strokes definition of the remit to which you refer. Their protocol is now to extinguish the dated “candlestick maker” OR “butcher” remit/transcript in their MoAs and instead bring the whole Memoranda business into the 21st century and subsume this old-school narrative by the new, modernised online liaison protocol harmonised with the current Standard Industrial Classification Codes (SIC) that are held “live” and in the public domain, hosted by the UK government’s own website at Companies House. Please find the screenshot and evidence that your requested in this respect…
Official acceptance document from Companies House of these Standard Industrial Classification Codes:
68100 SIC07 Buying and selling of own real estate.
68209 SIC07 Other letting and operating of own real estate.
The veracity of this provision is underwritten by the Registrar’s own CS01) Confirmation Statement acceptance . I attach a copy for your files. You can check this is accurate by direct reference to the Companies House website: click here.
Hay Cassels Solicitors & Notaries were kind enough to convey our main premises into my ownership; these are at: 280 High Street, Arbroath, Angus, DD11 1JE. The conveyance to my company was on 28th February 2020. This is the core of our business start-up and job creation centre. It is where we nurture new companies and then transfer the successful ones to their own, dedicated shops or light industrial units. To date, 138 new jobs have been created in the 20 years we have been with Hay Cassels solicitors. At this time of national pandemic, the creation of new jobs and regeneration of the High Streets is a vital part of our economic recovery.
The purchase of this smaller, empty shop at 258 High Street is part of our process in buying around 12 empty shops near to our Head Office at 280 High Street, Arbroath and moving/growing those businesses we have nurtured into their own, bespoke building. Thereby creating more jobs and proving that the High Street does not need to die.
This “proof of concept” where we purchase a larger premise (280 High Street) and nurture newstart businesses in that building to the point where they are viable and the owners confident enough to rent (then eventually buy) their own shops off of our group is scalable and repeatable all across the country. Our company secretary is in direct discussion with the Chancellor of the UK government and the respective officials at Holyrood to advance this job-creation and closed-shop re-opening initiative as a matter of urgency.
For the avoidance of doubt, I, as director have double checked my own authority that my company has competence top purchase heritable property and am happy to advise it has and we shall be purchasing 258 High Street. I provide you with the relevant excerpt from the Memorandum and Articles of Association of Angus Aviation & Shipping Ltd…
QUESTION 3]. For audit purposes it would be helpful if you could sign a copy of the Client Care Guide and Terms of Business and return it to us.
ANSWER 3]. I have completed your request in this respect. The original document is completed and is now on its way to you via First Class Royal Mail.
QUESTION 4]. In terms of the Money Laundering Regulations we need to verify your identity and your address by checking official documents. Even though we may know you personally we still have to comply with these regulations. In most cases this means that we have to see the following from you
A. Current Passport or full driving licence (including a photo and bearing your current name),
B. A current bill; Council Tax, mortgage statement, electric, gas, telephone (but not mobile phone), or bank statement addressed to you at your current address. However the document must be current i.e where a Bank Statement is issued monthly a 3 month old statement cannot be considered to be current. Please note that any document older than 6 months cannot be accepted.
ANSWER 4]. Both parts of this question have been attended to and are on their way to you via email/post ~ now on their way to you electronically and/or via First Class Royal mail.
ITEM 5]. Client Care Guide & Terms of Business.
Thank you for sending me a copy of the Hay Cassels Ltd., solicitors and notaries Client Care Guide & Terms of Business. As requested, I have read this document and confirm my agreement to the terms in full.
ANSWER 5]. To complete the Hay Cassels Ltd., Client Care & Terms of Business part of this process, I have signed and dated an original copy. This is now on it’s way back to your office in Hamilton via first class Royal Mail.
QUESTION 6]. Source of Funds. You should have on file the Hay Cassels conveyancing transactions you completed for me (inbound and outbound) relating to our previous office within our 34 acre estate and 6 buildings at the site we own at Noss Head Lighthouse Station.
ANSWER 6]. For full disclosure and adequate audit trail: Noss Head Lighthouse Station was PURCHASED BY ME FOR £200,000 on 23rd May 2017 (two component titles: £15,000 + £185,000)…
Source for Inbound Purchase Conveyance 23 May 2017: Click Here.
As you will be aware, Hay Cassels handled all of those inbound and outbound conveyances. You have access to all the cash transfer statements. After renovating three Grade A listed lighthouse buildings successfully, we sold the following buildings/land and the sale funds were paid into Hay Cassels Solicitors Client account. Here are the official Land Registry audit trails from there via Hay Cassels to me and back to you for 258 High Street, Arbroath…
SOURCE OF FUNDS: Resale of several buildings within our Noss Head Lighthouse Estate…
27 October 2017: Principal Keeper’s House ~ sold by us for £99,500 (here).
26th February 2018: Stable & Field 1 ~ sold by us for £48,000 (here).
18 September 2018: Tower House ~ sold by us for £249,000 (here).
18 June 2019: The Engine House ~ sold by us for £82,000 (here).
Total resale funds from 4 items at Noss Head Lighthouse: £478,500.
To complete the Source of Funds protocol, the advice I received is that Law Society rules prevented Hay Cassels solicitors from holding our company funds within your client account. So you sent these funds to my bank. They have been sitting within our bank account at Santander plc ever since (gathering a paltry amount of annual interest).
The last conversation I had with my company secretary on this matter was to the effect that Hay Cassels require either 3 or 6 months bank statements. Unfortunately, as you may be aware, my company secretary had an accident last year which resulted in a mild stroke, so his memory is not perfect and still recovering. In order to over-engineer your requirements, I attach a full 6 months of bank statements.
Because very little happened to these funds over the past 6 month period, other than withdrawals to pay for the renovation works at the five other buildings that I am currently project managing (detailed below), there are only two bank statement sheets required to cover the entire 6 month period. Herewith I include these within this narrative.
I trust the fulsome detail provided above satisfies your requirements in respect to Source of Funds. These came from four of the buildings we sold and that you conveyed out of the Noss Head Lighthouse Station project for me (here). The buildings we sold out of our Noss Head Lighthouse Estate and related funds can be audit-trailed through Hay Cassels Client Account. There are no materially important inbound deposits into our savings account.
The outgoings on the banks statements above refer to the renovation work at (i) the remaining buildings we still own at Noss Head Lighthouse Station (3 new jobs); (ii) the renovation work on the currently closed-down Sannox Hotel (6 new jobs); (iii) the newbuild Bay Cottage at Sannox (planning permission: here); (iv) the newbuild Sannox Supermarket (7 new jobs) and (v) the renovation work at our business angel job creation building at 280 High Street, Arbroath (Abbey Studios ~ up to 20 new jobs per annum). Hay Cassels were kind enough to convey the 280 High Street building into my portfolio on 28th February 2020….
You will note that, as promised, I have made today’s payment (19/1/2021) from my company account to Hay Cassels in the amount £39,296 within the 48 hours prior to entry date your terms proscribed.
This is to buy the next empty shop for renovation/re-opening (3 new jobs) at 258 High Street, Arbroath is at the very top of my bank statement…
This £39,296 is to purchase the ground floor shop at 258 High Street, Arbroath, Angus, DD11 1JE (3 new jobs). Plus pay the disbursements and professional fees at source. Please accept this paragraph as my request HayCassels deduct their fees etc., from my funds now residing in your client account. Thank you.
I trust all of the above information satisfies your requirements under the Law Society rules and statutes relating to conveyancing?
In this regard, I certify all documents on this page are true copies of the originals. Adopted as holograph,
David Rutherford. Director,
Angus Aviation & Shipping Ltd. Office 9, Abbey Studios Business Centre, 280 High Street, Arbroath, Angus, DD11 1JF.