A casual reading of this news story through the Derby Telegraph articles poses many questions about why there seems to be so many organisations involved, who own’s who, and why is there a lack of clarity over who is responsible. Following my investigation there are some interesting issues which raise further questions.
Go 4 Greener Waste Management Ltd has been operating for 9 years and is jointly owned by Wayne and Samantha Turton. It was based on Nottingham. Their last set of published accounts for the year ended 30 April 2015 showed a very healthy financial position. Over the following few months actions were put in place to move to Derby, and purchase the site on Slack Lane. They managed to do this by agreeing to mortgage 2 residential houses ( not their home) and a cafe – all located in Nottingham; the lender is Barclays Bank. In addition to this, the bank has floating charges over their general assets which means that the Turtons, personally, as well as with their company Go 4 Greener, have committed a lot of their wealth to the success of Slack Lane.
At the end of September 2015, the site was purchased and they moved in.
In January 2015 a new company was incorporated called Shows Waste Management Ltd – also jointly owned by Wayne and Samantha Turton. There is little public information about this company.
In October 2015 Go 4 Greener had their application to operate 6 lorries at the Slack Lane site refused.
On March 16 2016, a lease agreement was signed with Trent Valley Recycling Ltd to manage the trade waste side of the business. It subsequently transpired that there was an order from the Environment Agency to prevent waste being brought onto site. Tim Barry, the MD of Trent Valley Recycling Ltd claimed that he knew nothing about this until April 13 2016. On April 19 2016, Go 4 Greener agreed another loan with Barclays Bank.
On May 10 on the Go 4 Greener Facebook page they reported:
“Residents of Slack Lane.
We have spoken to the Company (Enviro Fuels ltd) that are currently managing this site. They are having an external company in later on this evening to address the flies and odour issue.”
Enviro Fuels Solutions Ltd, is a company that was incorporated on 10 March 2016, and jointly owned by Tim Barry of Trent Valley Recycling Ltd with another director of Trent Valley. There is no other public information.
Just 6 months after moving in, the Turtons now want to sell up, and move away from this situation.
It is clear that the Turtons have over-stretched themselves, financially, and quite possibly taken a leap too far with the management of this site. It seems that a number of key external approvals were not in place in order to operate the business. Due to this, they cannot make money which is critical to the service of their debts. It is curious that, in the Telegraph, all references are made to Shows Waste Management, when the site is actually owned by Go 4 Greener. Also, that the Go 4 Greener Facebook page is providing updates, and referring to Shows Waste Management as though it was a different company when it is just another shell company for the Turtons.
The Turtons have to sell the site as they need to pay off the massive debts owed to Barclays Bank.
The fact that Go 4 Greener refers to Enviro Fuels ( another shell company) as the company responsible for creating the problem is interesting, when it is reported that the lease was with Trent Valley Recycling.
It will be interesting to see how this plays out and the inclusion of shell companies with few assets may be “useful” for when things start to fall apart – particularly if claims are brought by the local residents. The confusion over which companies are involved clouds the accountability which is essential for resolving the problem. It all feels like someone, somewhere was trying to make a fast buck, and events have caught up with them!
Categories: Derby News Comment