The Reigndei Mystery
Derbyork Trustee Company Ltd (No 2774287) was incorporated on 22 June 1993. The Company Secretary CA Barker and 3 Directors MP Murray, DRW Silk and AC Smith were appointed. The purpose of this Company was to hold in trust 585,000 £1 Shares (PP @ 95p each) in Reigndei Ltd (Guernsey) (RD) purchased by the 18 First Class Counties, MCC and MCCA. RD is an offshore captive insurance company managed by the England and Wales Cricket Board (ECB) at Lord’s NW8 8QZ. RD insurance payments/receipts are recorded in the Annual Accounts published by the ECB and previously by the Test and County Cricket Board (TCCB).
The Annual Return of 17 December 2013 shows the Company Secretary as being Brian Havill (FD ECB) and two Directors Brian Havill and Ian Lovett (Director ECB). The 3 original Shareholders are also named.
Brian Havill’s Termination of Appointment as Company Secretary TMO 2 and Director TMO 1 were terminated on 18 November 2015 and received for filing at Companies House on 21 December 2015
The Company return dated 21 December 2015 names two Directors Ian Lovett (ECB) and Tom Harrison (CEO ECB). On 17 December 2016 Tom Harrison is registered at Companies House as being the Person with Significant Control (PSC).
On 25 September 2017 FORM DSO 1 was signed by Harrison and Lovett to strike Derbyork Trustees off the Companies House Register, Leon Farr the ECB Solicitors submitted the Application.
Derbyork Trustee Company Ltd was dissolved on 2 January 2018.
From KPMG:-
To: Nigel Knott 21/07/2020
Dear Nigel
As statutory auditor, I am not permitted to share such details as you have requested with other parties – however, I will contact management at the ECB as a follow-up to my previous referral.
I have been away from work for much of the last week, so as yet have not had the opportunity to discuss with my equivalent for the audit of the MCC. I will do this later this week.
Kind Regards
Jonathan Russell
| Barron, Paul <Paul.Barron@kpmg.co.uk> | |
Wed 29/07/2020 08:18
Inbox
To: Nigel Knott
Dear Dr. Nigel Knot,
I hope you are well. I lead the KPMG audit for the MCC. I have been passed your details by Jonathan Russell, my colleague who audits the ECB. I understand that you have been in contact with him requesting further information in relation to Reigndei Ltd.
As Jonathan stated as auditor it would not be appropriate for us to get involved in such communications on matters within the Club’s financial statements. However, I have spoken directly to the Club on your behalf and they would be happy to respond.to you. Please could you direct you queries straight to Guy Lavender, Chief Executive & Secretary and Alastair Cameron, Assistant Secretary (Finance). Their details are copied to this email and they are expecting you to contact.
|
From: Alastair Cameron <Alastair.Cameron@mcc.org.uk>
Sent: 13 August 2020 09:27
To: Nigel Knott
Cc: Guy Lavender
Subject: FW: Reigndei Insurance Co.
Dear Dr. Knott,
Thank you for your letter attached to your email of 10th August. To answer your questions:
1) Reigndei Ltd is a wholly owned subsidiary of the England and Wakes Cricket Board Ltd, so ECB is the legal owner,
2) Each of the first class counties and MCC has a beneficial ownership in the entity but since Reigndei was formed MCC has neither added capital to it nor received dividends,
3) ECB pays insurance premiums to Reigndei for cover and receives payments when claims are made,
4) ECB is required to have insurance for tickets for International fixtures in place as part of the staging agreement venues have with it; some of that insurance is placed with Reigndei and some is placed elsewhere in the market,
5) MCC has no management or operational involvement in Reigndei,
6) On that basis the Club has never, since Reigndei was incorporated, felt it material to be disclosed in the accounts.
Kind regards,
Alastair