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My understanding reading the thread is that Stillwater had a list of builds, backing up actually. They were not as far as I read suffering from a lack of work.

 

Economical with the truth is different from downright deceit.

 

All we know is that they were suffering from a lack of cash, perhaps because of a bad debt or perhaps because of under-pricing their work to make sure they had some. There are many possibilities.

 

Running a business is a much more difficult thing than you seem to think it is.

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All we know is that they were suffering from a lack of cash, perhaps because of a bad debt or perhaps because of under-pricing their work to make sure they had some. There are many possibilities.

 

Running a business is a much more difficult thing than you seem to think it is.

I understand it's difficult but I wonder sometimes how some survive and some don't and also I think it's despicable to continue taking on new custom when it should be obvious you are going to go under and badly let some people down, reading above they owed somebody eight grand for best part of two years, they should have given up yonks ago. Read the whole thread' it is very telling in my view. Edited by The Dog House
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My understanding reading the thread is that Stillwater had a list of builds, backing up actually. They were not as far as I read suffering from a lack of work.

 

Economical with the truth is different from downright deceit.

Whenever I got to speak to Kevin/Richard they were always keen to tell you how much work they had on - before launching in to one of their many hard-luck tales.

I have been involved with business for over 40 years and I think they were simply under-funded to start with and that they under-charged for the product - I said this to Kevin on more than one occasion but he wouldn't put his prices up.

Yes, they worked long hours, but that means they were earning even less per man hour.

So they were on the slippery slope from day one. Everything goes up in price, particularly the things needed to build a narrowboat, steel, wood, and all the other bits and pieces.

I think the writing was on the wall 2 years ago when they couldn't refund my money, they knew then they were in trouble and still took my money - basically they committed theft in my opinion.

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I understand it's difficult but I wonder sometimes how some survive and some don't and also I think it's despicable to continue taking on new custom when it should be obvious you are going to go under and badly let some people down, reading above they owed somebody eight grand for best part of two years, they should have given up yonks ago. Read the whole thread' it is very telling in my view.

 

It's all very black and white in your eyes, isn't it? Just be glad you haven't been in that position yourself.

 

Hope springs eternal in the human breast, and people don't like to give up until they have tried everything. It's why species survive.

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It's all very black and white in your eyes, isn't it? Just be glad you haven't been in that position yourself.

 

Hope springs eternal in the human breast, and people don't like to give up until they have tried everything. It's why species survive.

. . and, unfortunately, that's one of the reasons that perfectly respectable people/customers oft get taken in by businesses who know they will be going bust

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It's all very black and white in your eyes, isn't it? Just be glad you haven't been in that position yourself.

 

Hope springs eternal in the human breast, and people don't like to give up until they have tried everything. It's why species survive.

 

Yes it is black and white for me in this case, and of course I'm thankful it hasn't happened to me, who on earth would be.

Edited by The Dog House
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  • 4 months later...

The company is still in liquidation. The last accounts (to Jan 2012) showed a net "worth" of minus £67,000. Of course, the situation will be considerably worse now. There are unsatisfied mortages, and perhaps some tax liabilities (PAYE and NI possibly), so the chance of an unsecured creditor getting anything at all is unfortunately remote.

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  • 2 weeks later...

The information I received from the Receiver is:

 

REALISABLE VALUE

TOTAL ASSETS £0.00

TOTAL LIABILITIES £244,025.07

ESTIMATED DEFICIENCY £244,025.07

The liabilities above include issued and paid up capital of £100.00.

On the basis of the above information there appears to be no prospect of a distribution to creditors.

 

I note that the sole Director was Richard Eaton at the time of liquidation. His dad Kevin, who took our deposit and made a lot of unfilled promises, resigned before the company went under. Thank goodness we did not get sign a contract with them and only ended up loosing our deposit. A lesson in life though.

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The information I received from the Receiver is:

 

REALISABLE VALUE

TOTAL ASSETS £0.00

TOTAL LIABILITIES £244,025.07

ESTIMATED DEFICIENCY £244,025.07

The liabilities above include issued and paid up capital of £100.00.

On the basis of the above information there appears to be no prospect of a distribution to creditors.

 

I note that the sole Director was Richard Eaton at the time of liquidation. His dad Kevin, who took our deposit and made a lot of unfilled promises, resigned before the company went under. Thank goodness we did not get sign a contract with them and only ended up loosing our deposit. A lesson in life though.

Share capital is not a liability. It is the owners' stake. You can't owe yourself money.

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  • 1 month later...

Is this Elite Narrowboats of Unit D, Asher Lane Business Park Asher Lane, DE5 3SW

Tel:07971 676473?

If it is I think I'll give Richard a ring in the morning to see how he has managed to start up again!

Still think he's a thieving b-------d, having taken £8,000 of my money.

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Is this Elite Narrowboats of Unit D, Asher Lane Business Park Asher Lane, DE5 3SW

Tel:07971 676473?

If it is I think I'll give Richard a ring in the morning to see how he has managed to start up again!

Still think he's a thieving b-------d, having taken £8,000 of my money.

Hi,

You can always leave your comments on

http://www.misterwhat.co.uk/company/812838-elite-narrowboats-ripley

Ray

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I never knew there was a any boatbuilding in Ripley - even though I used to live only a few miles away in Heanor. It will be convenient for the Cromford canal when that section reopens.

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Is this Elite Narrowboats of Unit D, Asher Lane Business Park Asher Lane, DE5 3SW

Tel:07971 676473?

If it is I think I'll give Richard a ring in the morning to see how he has managed to start up again!

Still think he's a thieving b-------d, having taken £8,000 of my money.

Yes thats the one, they shouldn't be allowed to set again!!!

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Hi,

You can always leave your comments on

http://www.misterwhat.co.uk/company/812838-elite-narrowboats-ripley

Ray

I've looked at this website and if I was to leave a comment on there it would be deleted as you're not allowed to leave comments like 'stay away' 'don't touch them with a barge-pole' 'robbing b-----d' etc

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  • 1 month later...

When Stillwater first started they bought their shells from Elite Narrowboats.

 

Subsequently Elite Narrowboats became part of Stillwater so therefore all Stillwater shells have been made in Ripley.

 

I have tried to leave a comment at http://www.misterwhat.co.uk/company/812838-elite-narrowboats-ripley which IMHO was not derogative but it has not been published.

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  • 4 years later...

I know its over 5 years but here is the latest on Stillwater narrowboats.

I received this information this morning as I was one of the witnesses.

 

Case Against Richard Anthony Heaton and Kevin Heaton

Unique Reference Number 30DI0027916

 

I am writing to let you know what has happened in this case. At the hearing on 4th April, 2019 at Derby Crown Court, Richard Anthony Heaton pleaded guilty to the following charges:

 

Richard Anthony Heaton:

 

FRAUDULENT TRADING

 

Charges against Kevin Heaton were discontinued

 

Richard Anthony Heaton was sentenced as follows:

 

Sentenced to 20 months imprisonment suspended for 2 years.

 

There will be a hearing in the future to discuss the assets of Mr Heaton with a view to payments towards the losses incurred by the victims of this case. I will update you with that as and when I can.

 

I would like to thank you for your assistance as a witness in this case. Your evidence was very important in bringing this case to justice and your contribution is greatly appreciated. 

 

Not exactly a great result for the many who lost a LOT of money (allegedly over £250k) and for the stress and aggravation we have all suffered over the intervening years. (Court dates cancelled etc.)

I'm not holding my breath regards Richards assets, as I am sure there won't be any.

Time to move on.?

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40 minutes ago, Macintosh said:

There will be a hearing in the future to discuss the assets of Mr Heaton with a view to payments towards the losses incurred by the victims of this case. I will update you with that as and when I can.

From earlier in the thread :

 

The information I received from the Receiver is:

 

REALISABLE VALUE

TOTAL ASSETS £0.00

TOTAL LIABILITIES £244,025.07

ESTIMATED DEFICIENCY £244,025.07

The liabilities above include issued and paid up capital of £100.00.

On the basis of the above information there appears to be no prospect of a distribution to creditors.

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6 minutes ago, Alan de Enfield said:

From earlier in the thread :

 

The information I received from the Receiver is:

 

REALISABLE VALUE

TOTAL ASSETS £0.00

TOTAL LIABILITIES £244,025.07

ESTIMATED DEFICIENCY £244,025.07

The liabilities above include issued and paid up capital of £100.00.

On the basis of the above information there appears to be no prospect of a distribution to creditors.

It wasn't Stillwater Narrowboats that were in court, it was Richard Heaton charged with Fraudulent Trading. My understanding of the legal stuff that went on in the court (I was present on Thursday) was that the court deals with Richard Heaton's assets now, not the accounts of Stillwater Narrowboats (later CR&S Leisure) and tries to sieze as much as they can from him directly. Anything that is obtained is then distributed pro rata amongst the group of customers who lost money.

 

My partner is in the process of writing a blog about our involvement in all this sorry story.

 

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1 minute ago, Alway Swilby said:

It wasn't Stillwater Narrowboats that were in court, it was Richard Heaton charged with Fraudulent Trading. My understanding of the legal stuff that went on in the court (I was present on Thursday) was that the court deals with Richard Heaton's assets now, not the accounts of Stillwater Narrowboats (later CR&S Leisure) and tries to sieze as much as they can from him directly. Anything that is obtained is then distributed pro rata amongst the group of customers who lost money.

 

My partner is in the process of writing a blog about our involvement in all this sorry story.

 

Ok - thanks for the clarification.

Apologies for the misunderstanding.

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