Unfairpak Forum - How Farepak Stole Christmas

On Friday 13th Oct 2006 - Farepak Hampers went into administration. Over 100,000 customers were told that no food hampers or vouchers or other goods will be supplied this Christmas as promised, and no refunds! Share your thoughts here...
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PostPosted: Wed Oct 18, 2006 11:13 am 
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Look what google cache spat out:

Corporate Governance
The Board has made significant progress in implementing the recommendations of the new Combined Code on Corporate Governance. The chairmen of the Audit, Remuneration and Nomination Committees will be available to answer questions at this year’s AGM to be held on 28th September 2005.

The Board
The Board of Kleeneze plc currently comprises the Chairman, three executive directors and three non-executive directors as follows:

Sir Clive Thompson, Chairman
William Rollason, Chief Executive
Chris Hulland, Finance Director and Company Secretary (resigned 3st December 2005)
Stevan Fowler, Finance Director and Company Secretary (appointed 1st January 2006)
Nicholas Gilodi-Johnson, Executive Director
Paul Munn, Senior Independent Non-executive Director
Neil Gillis, Independent Non-executive Director
Stephen Roberts, Non-executive Director (resigned 28th September 2005)
Michael Johns, Non-executive Director (appointed 28th September 2005)
Biographies for all current directors are given in the Management Team page of this website.

The Board has delegated certain matters to standing committees details of which are given below. Responsibility for the management of each subsidiary rests with subsidiary Board directors, however the Board has adopted a formal schedule of matters specifically reserved for its decision. These include the approval of Group budgets, forecasts, financial results, interim dividends, final dividend recommendation, major capital expenditure proposals, acquisitions and disposals. Procedures have also been established to allow all members of the Board to make contact with and discuss matters affecting the Group with its external auditors and its legal advisers.

The Board as a whole is responsible for the Group’s risk assessment and systems of internal control in order to safeguard shareholders’ investment and the assets of the Group.

Board evaluation
The Board has instituted a formal procedure for the annual evaluation of Board members in their capacity as directors of the Company and as members of the committees of the Board. The results of this evaluation have been communicated with each director. The evaluation was conducted on 31st March 2005.

Board meetings
All directors have access to the Company Secretary’s advice and services. The Company Secretary is responsible for ensuring that Board procedures are followed and that applicable rules and regulations are complied with. The Company Secretary also ensures that the directors receive appropriate training as necessary.

During the year the Board met every month with the exception of August 2004. All directors attended every meeting during their term of office with the exception of Stephen Roberts who did not attend the meeting held on 27th April 2005 as he was overseas. The Audit Committee met on 1st July 2004 and 8th December 2004 and the Remuneration Committee on 26th May 2004 and 23rd February 2005. All committee members attended every meeting during their term of office.

Board Committees
There are currently four sub-committees of the Board: the Audit Committee, the Remuneration Committee, the Nomination Committee and the Non-Executive Directors’ Fees Committee. The role and function of the committees is as follows:

Audit Committee
The Audit Committee comprises Paul Munn (Chairman) and Neil Gillis, and meets not less than twice annually. The executive and non-executive directors also attend meetings by invitation. The Committee provides a forum for reporting by the Group’s external auditors. The Committee also reviews the requirement for an internal audit function and has, so far, concluded that this is not necessary in view of the size and structure of the Group.

The Audit Committee’s terms of reference include the approval of interim and final financial statements, review of accounting policies and the monitoring of the Group’s internal controls. The Committee’s terms of reference also include keeping under review the scope and results of the audit and its cost effectiveness, the auditors’ independence and objectivity and reviewing the nature and extent of non-audit services provided by the auditors (seeking always to balance the maintenance of objectivity and value for money).

Remuneration Committee
The Directors’ Remuneration Report is set out on pages 20 to 23 of the 2005 Report and Accounts. It is the role of the Remuneration Committee to set the remuneration levels and performance-related incentives for the executive directors and various senior managers in the Group and oversee the Group’s share option schemes. The members of this Committee are Neil Gillis (Chairman) and Paul Munn.

Nomination Committee
This Committee is responsible for recommending Board appointments having regard to the balance and structure of the Board. Where appropriate external search consultants are used to assist in this process. The members of this Committee are Sir Clive Thompson (Chairman), Neil Gillis and Paul Munn. All directors are subject to re-election at least every three years.

Non-Executive Directors’ Fees Committee
The Committee is responsible for recommending the fees and other benefits of the non-executive directors, other than the Chairman. Its members are Sir Clive Thompson, William Rollason and Stevan Fowler.

Communications with shareholders
Communications with shareholders are given high priority. The Finance Review on pages 16 and 17 of the 2005 Report and Accounts includes a detailed review of the business and future developments. There is regular dialogue with institutional shareholders including presentations after the Group’s preliminary announcement of the year end results and at the half year.

The Board uses the AGM to communicate with private and institutional investors and welcomes their participation. Details of resolutions to be proposed at the AGM on 28th September 2005 can be found in the Notice of the Meeting on pages 59 and 60 of the 2005 Report and Accounts.

Internal control
The directors are responsible for the Group’s systems of internal control, which are designed to safeguard shareholders’ investment and the assets of the Group. The Audit Committee reviews the effectiveness of the system of controls and reports its findings to the Board. These control systems cover the safeguarding of assets, maintenance of proper accounting records and reliability of financial information used by the business. Such procedures can only be relied upon to manage, rather than eliminate, the risk of failure to achieve business objectives and provide reasonable, and not absolute, assurance against material errors, losses or frauds.

An ongoing process, in accordance with the guidance of the Turnbull Committee on internal control, has been established for identifying, evaluating and managing the significant risks faced by the Group. The process has been in place for the full year under review and up to the date of approval of the Annual Report and Financial Statements.

The major aspects of the Group’s internal control systems are summarised below:

Control environment
The Group consists of four main operating subsidiaries, each with its own management and control procedures. The Chief Executive is actively involved in the management of all Group businesses and the implementation of their internal controls. Meetings are regularly held with operational management during which trading results are reviewed, business risks are assessed and procedures are set in place to minimise or control those risks. Formal reviews are carried out monthly.

Procedures exist to ensure the approval of significant financial commitments and expenses by appropriate executive personnel.

Risk assessment
There is a re-assessment of business risks on an annual basis. This is carried out by the operational management and reviewed by the Board. The Audit Committee reviews the way in which the assessment has been carried out and reviewed in order to ensure that the procedure will allow for the identification of all major risks. These reports cover the key risks which impact upon the trading performance of each business. Additional internal reports are prepared as required by the operational management and are reviewed by the executive directors and senior executives.

Management information
An annual budget is prepared by the operational management before the start of each financial year. This is reviewed by the Board to ensure that it adheres to the Group’s overall strategy and that it is robust in its preparation. Detailed monthly accounts are compared against forecast results with projections for the financial year being made quarterly or more frequently if necessary. Major variances from the forecast are analysed promptly and remedial action taken where appropriate.

Analyses of sales and cash movements are reviewed weekly by the executive directors.

Key performance indicators are produced monthly by each operating unit and are used to assess the achievement of business objectives.

Compliance with the Code of Best Practice
In the following respects the Company has not, throughout the whole of the financial year ended 28th April 2005, complied with Section 1 of the Combined Code on Corporate Governance:

There is no letter of appointment for Stephen Roberts in respect of his services as a director.
As set out in the Directors’ Remuneration Report, the Remuneration Committee has used the committee members’ wide knowledge of current good practice relating to directors’ remuneration.
Until 27th October 2004 the Audit and the Remuneration Committees were not wholly comprised of independent non-executive directors as Sir Clive Thompson and Stephen Roberts were members and, under the provisions of the Combined Code, are not considered to be independent for the purposes of the Combined Code. With effect from 27th October 2004 the Committees became compliant upon the resignation of Sir Clive Thompson and Stephen Roberts from membership.
On 27th October 2004 the Company appointed Paul Munn as the senior independent non-executive director. The Company was not compliant with this provision of the Code prior to this date.


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PostPosted: Wed Oct 18, 2006 9:26 pm 
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Hello - welcome to the forum, thanks for coming and posting...

It does all smell very fishy indeed - i am hoping at some point I can feel articulate enough to communicate everything that is wrong about this situation, but at the moment I am pretty speechless... the facts (as they are slowly being uncovered) are plainly speaking for themselves!

I think I am going to have to stock a whole new set of 'smileys' to cater to the full range of disbelief, anger, resentment, disappointment, confusion, hurt and the rest...

I will try and post updates and new info when I find it, but I am hoping that everyone else will do the same - I have to do some work at some point!

I moved this to a different group btw - as it fits in with the discussion here...

I saw a list of names and address somewhere of the directors - maybe that would be another thing that people could try - sending a christmas card to the directors personally..? You must be able to get Grinch cards somewhere...


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PostPosted: Wed Oct 18, 2006 9:35 pm 
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Hi and just for the record I understand your "pretty speechless" state as I am currently in one myself. I first found out about this Sunday and spent the majority of Sunday night researching as much as possible. Companies House website proved "interesting" reading regarding the amount of times Farepak have changed name and also the other companies associated with Farepak - Kleeneze being one of them.

I think for me the fact that Kleeneze was acquired by Fingel on 13 October the very same date as Admin Order slapped on Farepak started the bells ringing in my head and this is when I started looking more at the parent company only to find they also had a receiver appointed 13 October.

To be honest when choice vouchers went bust I had bells ringing in my head then saying "get out" but sadly i did not trust my intuition and went along with the Bonusbond.

I am mostly upset regarding my 72 year old recently widowed neighbour who had ordered a turkey hamper and £100 in vouchers! My family and I are going to attempt to put a hamper together for her just to make things a little better.


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PostPosted: Wed Oct 18, 2006 9:58 pm 
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suzy wrote:
Hi and just for the record I understand your "pretty speechless" state as I am currently in one myself. I first found out about this Sunday and spent the majority of Sunday night researching as much as possible. Companies House website proved "interesting" reading regarding the amount of times Farepak have changed name and also the other companies associated with Farepak - Kleeneze being one of them.

I think for me the fact that Kleeneze was acquired by Fingel on 13 October the very same date as Admin Order slapped on Farepak started the bells ringing in my head and this is when I started looking more at the parent company only to find they also had a receiver appointed 13 October.

To be honest when choice vouchers went bust I had bells ringing in my head then saying "get out" but sadly i did not trust my intuition and went along with the Bonusbond.

I am mostly upset regarding my 72 year old recently widowed neighbour who had ordered a turkey hamper and £100 in vouchers! My family and I are going to attempt to put a hamper together for her just to make things a little better.


Findel had been waiting to buy the non-farepak assets since the suspension of the EHR shares due to farepak being unable to raise the necessary funding after Choices went bust. The clues were there, people did not follow them.


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PostPosted: Wed Oct 18, 2006 10:44 pm 
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gmludlow wrote:
Findel had been waiting to buy the non-farepak assets since the suspension of the EHR shares due to farepak being unable to raise the necessary funding after Choices went bust. The clues were there, people did not follow them.


To be fair - the first 'clues' most people would have picked up on would have been TV and Newspaper reports this weekend.

It is easy for me to spot a pattern in the facts now - but if I had spotted clues a couple of months ago - I still wouldn't have predicted the current situation..

The point is that people involved in saving via a christmas hamper scheme are highly unlikely to have knowledge of stocks, shares, corporate structure and the difference between long term business strategy and short-term asset moving tactics. People should not be exploited in this way. It's plain wrong.


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PostPosted: Thu Oct 19, 2006 10:59 pm 
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the last list of directors is out of date this is the more up to date list Last Accounts Made Up To: 28/04/2005 (FULL)
Next Accounts Due: 28/02/2007
Last Return Made Up To: 22/04/2006
Next Return Due: 20/05/2007

Last members list: 22/04/2006
Last Bulk Shareholders List: Not available


Current Appointments
Number of current appointments: 7


SECRETARY: FOWLER, STEVAN LLOYD
Appointed: 17/07/2006 Date of Birth: 29/10/1958
Nationality: BRITISH
No. of Company appointments: 88
Address: TOWER HOUSE
KIRKLEES HALL CLIFTON
BRIGHOUSE
WEST YORKSHIRE
HD6 4HD


DIRECTOR: DAVEY, DEBORAH CLAIRE
Appointed: 16/12/2005 Date of Birth: 28/01/1969
Nationality: BRITISH
No. of Company appointments: 65
Address: NORTHEND COTTAGE husband christopher
NORTHEND
HENLEY ON THAMES
OXFORDSHIRE
RG9 6LJ


DIRECTOR: FOWLER, STEVAN LLOYD
Appointed: 01/01/2006 Date of Birth: 29/10/1958
Nationality: BRITISH
No. of Company appointments: 88
Address: TOWER HOUSE
KIRKLEES HALL CLIFTON
BRIGHOUSE
WEST YORKSHIRE
HD6 4HD


DIRECTOR: GILODI JOHNSON, NICHOLAS PIERS BA HONS MBA
Appointed: 23/02/2005 Date of Birth: 31/07/1971
Nationality: BRITISH
No. of Company appointments: 15
Address: 12B PERRYMEAD STREET
LONDON
SW6 3SP


DIRECTOR: HICKS, STEPHEN MATTHEW ACMA
Appointed: 16/10/2003 Date of Birth: 19/06/1954
Nationality: BRITISH
No. of Company appointments: 15
Address: 5 OVERROSS CLOSE
ROSS ON WYE
HEREFORDSHIRE
HR9 7BQ


DIRECTOR: PONTING, JOANNE ELIZABETH
Appointed: 01/05/2004 Date of Birth: 13/10/1971
Nationality: BRITISH
No. of Company appointments: 5
Address: TY NI
50 BROAD TOWN
SWINDON
WILTSHIRE
SN4 7RG


DIRECTOR: ROLLASON, WILLIAM PETER
Appointed: 23/05/2003 Date of Birth: 29/11/1960
Nationality: BRITISH
No. of Company appointments: 125
Address: 51 PERRYMEAD STREET wife sara
LONDON
SW6 3SN


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PostPosted: Fri Oct 20, 2006 12:29 am 
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cool thanks - yes that's the list of places to send grinch cards to :x

hmm - i would like to do some morphing and green tinting of some directors portraits...


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PostPosted: Fri Oct 20, 2006 10:57 am 
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here we go - a first attempt:

Image


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PostPosted: Fri Oct 20, 2006 11:12 am 
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Is there anyway we can find out the full list of his 125 company appointments?

I would suggest boycotting all of them.


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PostPosted: Sat Oct 21, 2006 2:41 pm 
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Ditto - I would happily boycott every company this man has an interest in.... Me myself wouldn't make a difference to him, however if all affected by this crisis were to boycott these companies the screw would tighten :D


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PostPosted: Sat Oct 21, 2006 5:37 pm 
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I'm sure most Farepak customers are just like me - a normal working-class person who does not 'take' the Financial Times or follow the stock market.

We shouldn't have to!

I thought the directors of a limited company had legal obligations to run the company in a fit and proper way - not to cynically take money for orders they know they will be unable to fulfill.

The only 'clues' we should be talking about should belong to the CRIMINAL INVESTIGATION that should now be taking place.

K


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 Post subject: HITTING BACK
PostPosted: Mon Oct 23, 2006 8:43 pm 
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I have been trying to think of a legal way of getting back at the Farepak Directors. It isn't easy when all you really want to do is take the law into your own hands. One possible way is to monitor the activities from now on of the directors, and bring to other consumers attention what these people are really like. for example say in a years time one of these directors starts to run a retail company, we spread the word and no one buys their goods - in affect putting them out of business. Amicus are doing the same sort of thing with Peugeot over the way it has treated British workers. This tactic will surely destroy these individuals more than any legal wrangling or actual violence. It might even be a good deterrent :!:

Oh what the hell, lets just lynch them :evil:


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PostPosted: Mon Oct 23, 2006 9:45 pm 
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Gorytus wrote:
I have been trying to think of a legal way of getting back at the Farepak Directors. It isn't easy when all you really want to do is take the law into your own hands. One possible way is to monitor the activities from now on of the directors, and bring to other consumers attention what these people are really like. for example say in a years time one of these directors starts to run a retail company, we spread the word and no one buys their goods - in affect putting them out of business. Amicus are doing the same sort of thing with Peugeot over the way it has treated British workers. This tactic will surely destroy these individuals more than any legal wrangling or actual violence. It might even be a good deterrent :!:

Oh what the hell, lets just lynch them :evil:


LOL I like the "lets just lynch them" :twisted: I think monitoring their activities is a VERY good idea! Once a director always a director and they will have their fingers into other pies very soon! Is there anyway we can search whether or not they are involved in anything else at present?

I read on HITA's website that they are definately looking for clarification to questions/issues from the Directors and I guess they will be putting this to the Administrators.

Also in my reply from Serious Fraud Office they stated that the Administrators have the powers to refer the matter to them if they feel it necessary.


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PostPosted: Tue Oct 24, 2006 9:19 am 
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we need to find out what other positions these shady directors hold with other companys so far all i have managed to find out is that mr rollason is with jessops and kleaneze any 1 else know where they hold positions
:?


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PostPosted: Tue Oct 24, 2006 10:00 am 
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I did wonder what his other 123 companies are... most of them are directors of lots of companies.

Not sure how to get them all listed. It should be public knowledge.


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