We were sent this from Crowdcube's website - it pretty well sums up their value to the world...... We especially liked the references to this site as the place to find the real information!! Little Brew is still not closed. In light of the very recent Shaw Academy fiasco, we wonder if Crowdcube are now employing the sons and daughters of their interns.
From the CC discussion board about Little Brew...
EIS loss relief
9 Replies
Hello,
In the investor update in March 2016, Stu sadly confirmed that he was selling all of the brewing kit and would be evaluating the future of the business. A decision about this was to be made "several months". I have respectfully stayed silent waiting for a future announcement.
However, I have heard nothing in the last 16+ months. I do note that the company's accounts are over one year overdue. Can Stu either confirm that the company is to be wound up - which would allow loyal investors to claim loss relief from HMRC - or put out his plan of what is happening with the business?
While I am sympathetic to the struggles of the business and the stress that this brings, leaving this in limbo has simply mean that no one is able to move on. Investors have entrusted Stu with their money, and without his action cannot claim the loss relief that we are due. Please can we have a response asap.
109%
0 days left
FYI, my emails to Stu have bounced and seem to be not in service. Perhaps Crowdcube staff could comment on this please?
For any other investors interested, Crowdcube are investigating. They are going to contact Stu and find it it where things stand. I'll update when I hear more.
R
Any news?
I see that the compulsory strike-offs at Companies House were suspended in May 2017. If there is still some value to be had here, then let's hear about it
A bit of communication and corporate governance wouldn't go amiss
In a nutshell:
I emailed Crowdcube saying that the website and Stu's email were down. They replied saying that because the website and email were down, they couldn't get hold of him....
I emailed Crowdcube saying that the website and Stu's email were down. They replied saying that because the website and email were down, they couldn't get hold of him....
I then replied suggesting that they tried another method of communication, such as phoning him (surely they have his number?!), writing to him (his address is listed on companies house) or through social media (he has a LinkedIn account).
On 15 September Crowdcube replied saying that they have tried multiple methods of communication in the past but will try again. I have heard nothing back and have low confidence that CC will hear back or help investors by forcing through a wind-up or agreement of zero value with HMRC. Other crowdfunding models, with other investor structures, would be much more active in this.
Options for us now are:
- Do nothing and wait.
- Try to contact Stu directly. I will have a go at this when I come to do my tax return later in the year.
- Agree with HMRC that the shares have negligible value, as allowed in EIS rules, and claim the loss relief.
Thanks for your efforts. If you do manage to track him down, please let us know as he may be more prepared to 'engage' if he is contacted by a number of shareholders.
I quite agree re other crowdfunding models. I have stopped actively investing on here as the lack of portfolio management, communication and general corporate governance is too frustrating. Caveat emptor!
Mtmale, I'm exactly the same - I've stopped investing on this platform all together after a corporate governance disaster here ended in a successful criminal prosecution... I thought that was a bad once off, but then I started reading Rob Murray Brown's blog about this site...
Same here. Quantock Breweries is also an interesting case...
Hi,
From a past experience where I had an unlisted investment that went wrong, with a complete lack of information, I claimed for it to be of negligible value by briefly explaining the circumstances on my tax return and it went through fine. Bear in mind that if any future value arises (albeit unlikely) this then has to be declared to them.
Interesting. Thanks Jimbob. Just a shame that Stu appears to have given up without wrapping up.
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