Cardy Facts

Council has had an offer from Cardy Construction to buy out SFP and build. I thought some background would be appropriate.

Cardy Design Build Ltd, formerly CARDY (LUTON) LIMITED (name changed 12/10/2010), is the vehicle used by the Cardy group to deliver the build at the former Pleasurama site. They were appointed by SFP Ventures (UK) Ltd in September 2009 just after the revised Development Agreement was signed with TDC.

Using information available from accounts filed at Companies House below we can see between 30/3/2009 and 30/3/2010 a drop in the net worth of over £300K. This peaked by 31/3/2013 at a net worth of over -£1.4M showing a net outflow of cash.

This net outflow is relatively normal in the development of a build project which would normally be offset at the builds conclusion when the units are sold however in this case the project shows no sign of completion and might go somewhere to explaining why Cardy are keen to take over.

It is important to stress Cardy is a group of reputable Companies and obviously involved in more than just this contract. Based on Companies House figures which are only reporting historical fact the overall Net Worth of all the companies is minus £92K

Cardy Design Build Ltd

Date	Liabilities	Assets	Net worth
30/3/2009	£372873	£326115	-£31920
30/3/2010	£1515011	£1143926	-£369645
30/3/2011	£719591	£251383	-£468208
29/9/2011	£1227628	£189249	-£1038379
30/3/2013	£2370474	£890951	-£1479523
30/3/2014	£2128543	£902914	-£1225329

 

 Beneath is a list of all the Cardy group based in Canterbury with details of directors, last accounts filed and net worth. There is however one anomaly that has been found:

Cardy Developments Limited Co number 06726001

A non-trading Company formerly Future Homes Online and Shaun Patrick Keegan was a director from 13/5/2010 to 20/5/2014. Head Office is registered at the Mudd Partnership in Billericay, Essex.

 Cardy Developments Limited was set up on 16 Oct 2008 and has its registered office in Essex. Its current status is listed as "Live" and it currently has one director. Its founding director was Mr Christopher Kevin Warr An Estate Agent). Cardy Developments Limited has no subsidiaries.

 As this company had as its director the same director as SFP Ventures (UK) ltd there is a lot of concern that this was a deliberate act for some nefarious purpose which has somewhat backfired on Shaun Keegan.

Then we have the Cardy group acting as developers in Lowestoft instead of the real owners of the land Flight Services SA based in Geneva with Colin Hill on the board who is Shaun Keegan's son in law.

http://cardygroup.co.uk/company_profile/profile.php?type=company

 

Cardy Group Holdings Limited Co number 07033349

Last accounts filed 29/9/2013 Net worth £555.9K

Current Directors

Mr Stuart Nicholas Gremo Born 62 years ago: Jan 1952 Director, Building Contractor 08 Oct 2009 — Present (4 years, 11 months, 3 days)
Mr Michael Stannard Born 49 years ago: Jan 1965 Director, Building Contractor 08 Oct 2009 — Present (4 years, 11 months, 3 days)

Cardy Healthcare Limited Co number 04823175

Latest accounts 7/7/2014 net worth £44.7K

Directors

Mr Michael Stannard Born 49 years ago: Jan 1965 Director, Building Contractor 07 Jul 2003 — Present (11 years, 2 months, 4 days)
Mr Stuart Nicholas Gremo Born 62 years ago: Jan 1952 Director, Building Contractor 07 Jul 2003 — Present (11 years, 2 months, 4 days)
Mr Christopher Stuart Gremo Born 36 years ago: Jun 1978 Director, Director 14 Jul 2014 — Present (1 month, 28 days)
Lee Terry Johnson Born 39 years ago: Jun 1975 Director, Director 14 Jul 2014 — Present (1 month, 28 days)

Cardy Construction Limited Co number 02780134

Latest accounts filed 15/1/2014 net worth £507.4K

Directors

Mr Michael Stannard Born 49 years ago: Jan 1965 Director, Building Contractor 15 Jan 1993 — Present (21 years, 7 months, 27 days)
Mr Stuart Nicholas Gremo Born 62 years ago: Jan 1952 Director, Building Contractor 15 Jan 1993 — Present (21 years, 7 months, 27 days)
Mr Christopher Stuart Gremo Born 36 years ago: Jun 1978 Director, Director 14 Jul 2014 — Present (1 month, 28 days)
Lee Terry Johnson Born 39 years ago: Jun 1975 Director, Director 14 Jul 2014 — Present (1 month, 28 days)

Cardy Design Build Limited Co number 05020531

Latest accounts filed 20/1/2014 net worth -£1.2M

Directors

Mr Michael Stannard Born 49 years ago: Jan 1965 Director, Building Contractor 20 Jan 2004 — Present (10 years, 7 months, 22 days)
Mr Stuart Nicholas Gremo Born 62 years ago: Jan 1952 Director, Building Contractor 20 Jan 2004 — Present (10 years, 7 months, 22 days)
Mr Christopher Stuart Gremo Born 36 years ago: Jun 1978 Director, Director 14 Jul 2014 — Present (1 month, 28 days)
Lee Terry Johnson Born 39 years ago: Jun 1975 Director, Director 14 Jul 2014 — Present (1 month, 28 days