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Monday, 28 July 2014

Two new asset companies – I'd avoid: Belgravia Alternative Assets Ltd + Paragon Fine Diamonds Ltd


 Belgravia Alternative Assets Ltd – 'an alternative investment specialists'

Belgravia Alternative Assets Ltd – set up 16.11.2009 
but dormant at least until 6.12.12 


It must always be a disappointment always be a disappointment when one of your companies goes bust. Take, for instance, Canary Wharf Vintners Ltd which is going into liquidation. Founded back in May 2006, the company changed its name in May 2007 to Strategic Land Acquisitions Ltd before becoming Canary Wharf Vintners in September 2010. Its sole director is 55-year-old Enver Deen and its share capital totals £2.

Fortunately for Mr Deen he has a new project: Belgravia Alternative Assets Ltd apparently trading from 78 Pall Mall, St James, London, SW1Y 5ES ('prestigious serviced offices, office space, virtual offices and meeting room facilities') with a registered office at 147-157 St John Street, London EC1V 4PW (Registered Office Service - Companies Made Simple). With a newish company (formed in late 2009 but dormant at least until end of 2012) why not have a new name? So Mr Enver Kemal Jainu-Deen it is (still 55-years-old)  – sole director with a share capital of £1.

'As alternative investment specialists..' 

 Products: Investments Projects (Green), Investment Metals, 
Wine Investment, Investment Land, Investment Art

Last week Mr Deen kindly assured me that Belgravia would not be offering any 'contentious' investments. I can only conclude that we have rather different ideas over what is meant by a 'contentious' investment.
  
Still early days – unfinished parts of the website

Terms & Conditions? – er not yet... 
 

Search under the name Kemal Enver Jainu-Deen and the indefatigable 55-year-old has another company: Alexander Dane Ltd – apparently non-trding at present but pencilled in to be a recruitment agency. All rather curious as Mr Deen appears to have already had a recruitment agency, although it is now called the London Gem Exchange Ltd but until 7th July 2014 was called The Employment Company No 1 Ltd. Sole director: 55-year old Enver Jainu-Deen

I can only assume that Mr Deen is a jazz fan and loves improvisation! I'm tempted to enter Mastermind with the companies and the variations on Mr Deen's name as my special subject.  

Despite Deen's ingenuity I think I will certainly give his various companies a miss.   

You also have to wonder how it is possible in these days of strict controls on setting up bank accounts etc. that UK Companies House appears to accept a cornucopia of different names!   
 ***

'Paragon has been a constant in the diamond market for many years'
'our company has a long stable track record spanning many years'


Paragon Fine Diamonds Ltd – formed 10th May 2013

First annual return filed late – should have been 7.6.2014
Instead not filed until 24.7.2014

Paragon website registered: 30.4.2013

Paragon Fine Diamonds Ltd was founded on 10th May 2013 so its claim to have a 'long stable track record spanning many years' looks to be a trifle imaginative. Its sole director is 74-year-old Stuart Poppelton, who has some 957 directorships to his credit. Its share capital is £2.

Paragon Fine Diamonds Ltd Terms & Conditions
'not authorised to offer investment advice'

If you are cold called by Paragon Fine Diamonds Ltd remember their terms & conditions: 'Paragon Fine Diamonds LTD is not authorised to offer investment advice, neither does it purport to.' 'Paragon Fine Diamonds Ltd offer no warranty, guarantees, resale value or resale advice on any product sold.'

So don't waste your time put the phone down!

Paragon Fine Diamonds Ltd is another company I would certainly avoid.

4 comments:

  1. Hi Jim, can you offer any advice about GEC Diamonds (Green Energy Commodities Ltd)?

    ReplyDelete
    Replies
    1. Green Energy Commodities Ltd founded 28 Aug 2012. One sole director: 34-year-old James Edward Hoile. Director of two short-lived dissolved companies: Green Energy Commodities Nominees Ltd, Safe Custody Ltd

      GEC claims to be 'a leading provider of alternative commodities' with many years of experience garnered in the City'.

      Not regulated by the FCA:
      'Neither we nor our nominees are authorised or regulated by the FCA. The services we provide and transactions we undertake on your behalf are not governed by the FCA's rules and you will not benefit from protections which may be available under the FCA's rules. You will not be covered by the Financial Services Compensation Scheme or the Financial Ombudsman Service;'

      Think I'll pass.

      Delete
  2. Dear Jim,
    Genesis Wines appear to have not filed their 2013 accounts. I assume you advise caution when buying en primeur from such a company?

    ReplyDelete
  3. Anon. Yes I would. Wouldn't you? From filings at Companies House it appears that Genesis may have also been late in filing their annual returns and that a First Gazette was issued – subsequently cancelled.

    ReplyDelete