UK 22:21 Friday, 23 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Hat tip to one of our readers who I know works in the small cap area and thus knows his onions for today's bit of Sherlocking on Worthington (WRN). For any Worthington investors this is yet another Red Flag 'fest. For any Rangers (RFC) fans scared that the claims of Law Financial & Craig Whyte may make against the club have any grounds, read this and LOL. Enjoy.
Already a member? Sign in
• All premium articles
• Tom Winnifrith’s Bearcast
• Access to all the entire nearly 13 year archive
• ShareProphets Daily Newsletter
Cancel any time
This area of the ShareProphets.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ShareProphets.com. ShareProphets.com does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ShareProphets.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ShareProphets.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.
Comments
Stuart Kaplan
http://www.mirror.co.uk/news/uk-news/investigate-tips-from-flops-495545 gives part of the story of B2B Portfolio Ltd which was the collapse that led to Nick James’s disqualification in 2011. As you can see they have been using the ‘Fresh Business Thinking’ name for various incarnations over many years.
The latest is Freshly Made Content Ltd (08229405), and when this falls over no doubt the baton will pass to Fresh Content Ltd (08160718), currently managed by Nick’s daughter Francesca Russell.
You have to wonder how long it will be before HMRC and the Insolvency Service catch on.
Stuart Kaplan
“Public trust in major institutions in Western economies – finance, business, media and government – has collapsed.” “Trust has to be hard fought, hard earned and hard won, every day. There is no magic wand.”
Wise words from Robert Phillips, former CEO of Edelman, author of ‘Trust Me, PR is Dead’ and co-founder of Jericho Chambers (http://www.jerichochambers.com/).
But they are only words. Far better to judge Robert by the company he keeps. And who is that grinning out at us from his profile page as the Jericho Chambers member specialising in Enterprise and Market Entry? Why, it is none other than Allan ‘All About Brands PLC (In Liquidation)’ Biggar.
Daz
Comedy gold from lse
Dynamitedazza
Posts: 57
Off Topic
Opinion: No Opinion
Price: 87.00
Not filing accounts because Today 11:59It’s obvious Stuka – by the way I’m not a Celtic fan – they will not file accounts as it would let cat out of bag re deals – it’s so simple – all deals are confidential – hence accounts not filed me thinks – what part of that Scottish do you not understand ? Check on companies house there is no notice of intention to strike of WRN – even IF there was a notice of intention to strike WRN off the Directors would have 90 days – the kick off is this month so 90 days would be more than enough time – in any event I’m sure that to ensure all info remained confidential they will not file accounts until the deal with Nuna has been announced and completed – it’s so so simple – Even a Rangers fan / shorter / de ramper / green eyed monster / someone being gobbled up with that horrible stuff Envy should get that ? YES ?NO?
Reply | Recommend 3 | Report
MIRROR INVESTIGATE: TIPS FROM FLOPS - NICK JAMES OF FRESH BUSINESS THINKING. BBC BRISTOL - BUSINESSES WHICH HAVE BOOKED AND PAID FOR STALLS AT FORTHCOMING EXHIBITIONS MAY HAVE LOST MONEY
INVESTIGATE: TIPS FROM FLOPS – NICK JAMES OF FRESH BUSINESS THINKING
00:00, 2 AUG 2007 – UPDATED 03:55, 29 JAN 2012 – BY MIRROR.CO.UK
This would rankle. Your company provides work worth £7,000 for a client, who never pays and goes into liquidation.
So far, so normal, just an everyday story of business failure. In this case, the failure was called B2B Portfolio Ltd, which organised trade fairs. Run by Nick James and Bronwyn Ellis, Bristol-based B2B has collapsed with 18 county court judgements against it, amounting to more than £270,000.
The pair have been here before. They ran Envelope Ltd, which collapsed last year owing almost £1million.
Among the victims of B2B was public relations firm Advent Communications, which provided three months’ work creating media interest in a business fair in Coventry.
Now the firm’s getting emails from an outfit called Fresh Business Thinking, which offers tips on boosting profit and productivity, improving customer service and the like. And who are the business experts behind these gems? Yes, its James and Ellis.
“Not getting paid is never good, but it’s especially galling to then get emails from the same people advising me how I can more successfully run my business,” said Adam Dent of Advent Communications.
Over to James: “I can understand why Adam was upset. He ended up on an email list for the new company I have set up. I personally lost a lot of money when B2B went bust.”
http://www.mirror.co.uk/news/uk-news/investigate-tips-from-flops-495545
BBC Bristol – BUSINESS EVENTS ORGANISER CLOSES
Published: 2007/02/26 12:19:20 GMT
Fifteen people have lost their jobs at B2B Portfolio, based in Bristol.
Staff were told there was a winding up petition on the firm when they arrived at work on Friday.
Businesses which have booked and paid for a stall at forthcoming exhibitions organised by B2B do not yet know how the news will affect those events.
“We were told we cannot continue to incur any costs,” said Nick James, managing director of the company. The receivers are expected to be called in.
EDF Energy, one of the main sponsors of the business exhibitions and conferences in Wales, said in a statement: “EDF Energy has sponsored the B2B Portfolio series of exhibitions since 2004.
“The B2B Portfolio provided a unique opportunity for EDF Energy to support the local business community throughout the UK.
“We are disappointed that B2B Portfolio Ltd is no longer able to continue with the programme of exhibitions.
“Although EDF Energy has sponsored the event since its launch, the responsibility for organising and managing the exhibition series is with B2B Portfolio Ltd.
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/1/hi/england/bristol/6393047.stm
© BBC 2015
NICK JAMES HAS JUST SURFACED AT COMPANIES HOUSE
Now the four year disqualification has expired he has turned up as director of AMPLIFIED BUSINESS CONTENT LIMITED (07953063), previously owned by Simon Burton of Great British Entrepreneur Awards fame.
Creditors may be interested in the service address filed with the first form, it was quickly changed.
Which Court was Worthington's Nick James disqualified by and which of his two epic-fail bankrupt business event companies did it relate to - Envelope Ltd or B2B Business Portfolio Ltd?
Hard to find details as slippery Nick James uses a different birth date for his earlier directorships. Surely just a mistake, like the spelling of Spurway and Sturway?
Envelope Ltd went down owing £968,845 (£400,000 being to HMRC and Inland Revenue) according to the statement of affairs filed by the liquidator on 7 August 2006. https://beta.companieshouse.gov.uk/company/04103365/insolvency
Directors:
JAMES, Nicholas William and ELLIS, Bronwyn, both of Hollyhedge Farm, Vee Lane, Felton, Bristol, Avon, BS40 9YE
The Insolvency of B2B Business Portfolio Limited, also with Nick James and Bronwyn Ellis (his presumably ex-girlfriend / business partner at same address) as Directors, and also a Philip John Carrington, started with a Winding Up Order on 25 May 2007, following debts to Excel Publishing Ltd, Portland Buildings, Manchester.
https://beta.companieshouse.gov.uk/company/05070331/insolvency
The Insolvency is STILL live and B2B Holdings is scheduled to be dissolved on 20 April 2016. Wonder who the other creditors are and how much went to money heaven that time?
Could it be that the assets of B2B Portfolio, including email lists, ended up being gifted to Nick’s new company “Fresh Business Thinking” as mentioned in the Mirror story about Nick James Creditor Advent Communications?
Is it this one
FRESH BUSINESS THINKING LIMITED
Company number 07350153
Or
FRESH BUSINESS THINKING LTD
Company number 05709535
Or
FBT MEDIA LTD
Company number 05541816
Or
FRESH BUSINESS THINKING LTD
Company number 08249865
Worthington Group PLC's Media Division, Equity Media Partners Ltd and Digital Marketing Show Ltd Accounts Published Sept 30 2015. $345,000 net profit Doug said was generated to June 2014 in a Sept 29 2014 WRN RNS seems to have evaporated?
Worthington Group PLC CEO Doug Ware WRN RNS Sept 29 2014 “The portfolio of media assets are expected to generate net profits of US $1.5m in 2015 having already generated US $345,000 in the six months to end of June 2014, with further substantial growth in 2016 forecast.”
However Equity Media Partner accounts submitted last week, made up to 31 December 2014, show there were just SIX pounds (£6) cash in the bank last year. Where’s those net profits hidden Simon Burton, “Slippery” Nick James, Dougie “Worthless” Ware and Allan “Bullshit” Biggar?
Equity Media Partners Limited
Abbreviated Accounts
31 December 2014
Debtors £219,608
Cash at bank and in hand £6
Creditors (£213,210)
Total Net Assets £5,864
Called Up Share Capital £12, 930
P&L Account (£7,066)
Shareholders Funds £5,864
Judging by those crappy numbers – which follow the Great British Entrepreneur Awards 2014, plus all the other debts and insolvencies that appear to follow every single other previous Nick James organised event – there clearly is no money to be made as Worthington Group PLC have implied in what might even be considered a highly misleading RNS to the LSE.
Also filed last week, the Accounts for another part of the claimed Worthington Media Portfolio, Digital Marketing Show Limited made up to the end of December 2014. Had these accounts not been filed, it appears Companies House were ready to strike the business off, Compulsory Strike Off action showing as discontinued the following day, 30 Sept.
Sole Director of Digital Marketing Show is Allan Biggar. 100pc of shares are owned by Equity Media Partners Limited. Former shareholders are familar names, Nick James, Francesca James and Luke Neel.
Doug says in that Sept 2014 RNS: “The Digital Marketing Show, launched last year which attracted 4,500 visitors and is expected to attract more than 10,000 this year at the UK’s premier exhibition site at Excel in London. The show was nominated for Best Launch show at the industry awards this year.”
Such a premier exhibition that Digital Marketing Show ended up with all of £1 in the bank.
Digital Marketing Show Limited
Abbreviated Accounts
31 December 2014
Debtors £100
Cash at Bank and In Hand £1
Creditors (£21,391)
Total Net Assets (£21,290)
Called Up Share Capital £100
P&L Account (£21,390)
Shareholders Funds (£21,290)
Why are the failures behind these loss making businesses being given 2.5m Worthington ordinary shares as also mentioned in the RNS?
https://beta.companieshouse.gov.uk/company/08126979/filing-history
https://beta.companieshouse.gov.uk/company/08126979/filing-history/MzEzMjEwMzE0NGFkaXF6a2N4/document?format=pdf&download=0
https://beta.companieshouse.gov.uk/company/08684288/filing-history
https://beta.companieshouse.gov.uk/company/08684288/filing-history/MzEzMTk5Nzc0MWFkaXF6a2N4/document?format=pdf&download=0
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12098826.html
Another Worthinton Media Portfolio POS acquisition - The Essential Cyclist POS website, are these the accounts showing £130,000 losses for 2014?
https://beta.companieshouse.gov.uk/company/08683307/filing-history
Cyclist Limited
Abbreviated Accounts
30 September 2014
Debtors £76,021
Cash at bank and in hand £8
Creditors (£213,060)
Total net assets (liabilities) (£137,031)
Called up share capital £1
Profit and loss account (£137,032)
Shareholders funds (£137,031)
Director: Allan Biggar
Shareholding: Allan Biggar 100pc
Another familiar Worthington name behind this POS Worthington website (that seems to be what convicted sports cheat and total POS failure Johann Bruyneel might have been given £1m worth of WRN shares for), Nick James’s daughter!
http://theessentialcyclist.com/about/?author=Francesca+James
Mr Bruyneel, a fine upstanding Worthington Group PLC team player and shareholder, convicted cheat:
http://www.cyclingnews.com/news/johan-bruyneel-handed-10-year-ban-by-american-arbitration-association/
Johann Bruyneel ownership disclosure 3.85% of WRN
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12354615.html
Is Worthington rewriting the history of The Rangers FC Group Ltd with replacement documents submitted to Companies House? Crafty Richard Spurway and Doug Ware still cock it up cooking the books the second time around though.
Newly uploaded second (replacement) filings of both 2014 and 2015 Annual Returns for Worthington Group PLC owned ‘The Rangers FC Group Limited’ might give a clue as to just how stupid, crafty or creative Doug ‘Worthless’ Ware’s bunch of crooked clown co-directors really are.
Aside from being far too busy to manage accurate, timely and honest corporate admin, Richard Spurway is also too preoccupied to bother checking his latest important but erroneous statutory filings on behalf of his (total joke) emerging conglomerate PLC.
Go to Page 11 of the new version of the ’2015 Annual Return for The Rangers FC Group Ltd” document Spurway submitted to see a totally random page included from the online instructions for making a “Crochet Christmas Character Afghan”, with a question from Sara asking how much yarn is needed?
Even if you have had the displeasure of reading thousands of corporate filings from small ltd companies, let alone PLCs, it’s a pretty good bet that no one will have seem anything as amateur as Worthington PLC’s pathetic efforts.
Hopefully this less than surprising revelation, and the link to the original instructions for Spurway’s crafty crochet creation below, won’t spoil any Christmas present surprises at the Worthington Christmas party. Ho! Ho! HO!
http://www.repeatcrafterme.com/2015/08/crochet-christmas-tree-pixel-square.html#comment-11328
Is Worthington rewriting the history of The Rangers FC Group Ltd with replacement documents submitted to Companies House? Crafty Richard Spurway and Doug Ware still cock it up cooking the books the second time around though.
Newly uploaded second (replacement) filings of both 2014 and 2015 Annual Returns for Worthington Group PLC owned ‘The Rangers FC Group Limited’ might give a clue as to just how stupid, crafty or creative Doug ‘Worthless’ Ware’s bunch of crooked clown co-directors really are.
Aside from being far too busy to manage accurate, timely and honest corporate admin, Richard Spurway is also too preoccupied to bother checking his latest important but erroneous statutory filings on behalf of his (total joke) emerging conglomerate PLC.
Go to Page 11 of the new version of the ’2015 Annual Return for The Rangers FC Group Ltd” document Spurway submitted to see a totally random page included from the online instructions for making a “Crochet Christmas Character Afghan”, with a question from Sara asking how much yarn is needed?
Even if you have had the displeasure of reading thousands of corporate filings from small ltd companies, let alone PLCs, it’s a pretty good bet that no one will have seem anything as amateur as Worthington PLC’s pathetic efforts.
Hopefully this less than surprising revelation, and the link to the original instructions for Spurway’s crafty crochet creation below, won’t spoil any Christmas present surprises at the Worthington Christmas party. Ho! Ho! HO!
http://www.repeatcrafterme.com/2015/08/crochet-christmas-tree-pixel-square.html#comment-11328
Newly uploaded second (replacement) filings of both 2014 and 2015 Annual Returns for Worthington Group PLC owned ‘The Rangers FC Group Limited’ might give a clue as to just how stupid, crafty or creative Doug ‘Worthless’ Ware’s bunch of crooked clown co-directors really are.
Aside from being far too busy to manage accurate, timely and honest corporate admin, Richard Spurway is also too preoccupied to bother checking his latest important but erroneous statutory filings on behalf of his (total joke) emerging conglomerate PLC.
Go to Page 11 of the new version of the ’2015 Annual Return for The Rangers FC Group Ltd” document Spurway submitted to see a totally random page included from the online instructions for making a “Crochet Christmas Character Afghan”, with a question from Sara asking how much yarn is needed?
Even if you have had the displeasure of reading thousands of corporate filings from small ltd companies, let alone PLCs, it’s a pretty good bet that no one will have seem anything as amateur as Worthington PLC’s pathetic efforts.
Hopefully this less than surprising revelation, and the link to the original instructions for Spurway’s crafty crochet creation below, won’t spoil any Christmas present surprises at the Worthington Christmas party. Ho! Ho! HO!
http://www.repeatcrafterme.com/2015/08/crochet-christmas-tree-pixel-square.html#comment-11328
https://beta.companieshouse.gov.uk/company/07380537/filing-history