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Whilst sheltering from Omicron and Storm Barra I thought I would pass the time away at looking at GLP Ltd and what an eye opener it turned out to be.
GLP was incorporated (began its existence) on the 10th January, 2017 - so has just been around for four years. It is somewhat different to most limited companies in that it is limited by 'guarantee' and not by 'share capital'.
That basically means it is a non profit making business, owned by its members, who don't gain financially from it - not even if it decided to liquidate and have money in excess of debts at the end.
I'm not sure who its 'members' are but I assume they are the Directors of the company?
Maughan was a Director but stood down in July of this year when four new Directors were appointed - all of whom seem to be connected with 'good causes' or social awareness (nothing wrong in that and I'm not saying it other than as a statement of fact).
There are a further two Directors, one being Stuart Wood who was a Special Advisor at number 10 to Gordon Brown (Cummings was a Special Advisor to Boris as a parallel example) who was made a peer to serve in Miliband's Shadow Cabinet. The other is Rupert Evans who seems to be solely a businessman and Chair of the GLP board.
https://goodlawproject.org/our-people/
There was at one time one other Director, Sam Smethers who resigned in December 2018.
I mention this because in October 2020 his daughter Rachel was appointed as GLP Head of Communications without it appears being interviewed for the job...
Article here entitled The Good Law Project's Own Cronyism
https://order-order.com/2021/04/28/the-good-law-projects-own-cronyism/
Anyway moving on.
GLP started just four years ago with zero in the bank, the latest published accounts filed by them was for the financial year ending 31st January 2021 - or just under a year ago.
In that three year period (and not including any revenue from all of this year from the 1st February onwards remember) it showed on its balance sheet revenue for the year of..,
Wait for it...
A staggering THREE MILLION POUNDS!!!
And resulting in a profit for that year of £1,150,000
Where at the money come from you may ask?
Well mainly by GLP followers donations!
The accounts show case specific donations of £1.3m (20% of which is taken out to fund the running of GLP as it states when seeking case specific contributions) and £1.15m as regular and one off general donations to GLP itself.
To put this into some context at the hight of the BLM donations frenzy, they collected just over £1m.
https://find-and-update.company-information.service.gov.uk/company/10556197/filing-history
It makes me wonder what GLP will have received in donations this year, I don't doubt it will easily top the £3m of last year - don't you?
Fair play to Maughan and GLP to start with nothing and have £3m revenue and £1m in the bank just three years later (and no doubt significantly improve on that this year).
Just goes to shows the power of using social media as a means of generating revenue for his 'project' I guess.
GLP was incorporated (began its existence) on the 10th January, 2017 - so has just been around for four years. It is somewhat different to most limited companies in that it is limited by 'guarantee' and not by 'share capital'.
That basically means it is a non profit making business, owned by its members, who don't gain financially from it - not even if it decided to liquidate and have money in excess of debts at the end.
I'm not sure who its 'members' are but I assume they are the Directors of the company?
Maughan was a Director but stood down in July of this year when four new Directors were appointed - all of whom seem to be connected with 'good causes' or social awareness (nothing wrong in that and I'm not saying it other than as a statement of fact).
There are a further two Directors, one being Stuart Wood who was a Special Advisor at number 10 to Gordon Brown (Cummings was a Special Advisor to Boris as a parallel example) who was made a peer to serve in Miliband's Shadow Cabinet. The other is Rupert Evans who seems to be solely a businessman and Chair of the GLP board.
https://goodlawproject.org/our-people/
There was at one time one other Director, Sam Smethers who resigned in December 2018.
I mention this because in October 2020 his daughter Rachel was appointed as GLP Head of Communications without it appears being interviewed for the job...
Article here entitled The Good Law Project's Own Cronyism
https://order-order.com/2021/04/28/the-good-law-projects-own-cronyism/
Anyway moving on.
GLP started just four years ago with zero in the bank, the latest published accounts filed by them was for the financial year ending 31st January 2021 - or just under a year ago.
In that three year period (and not including any revenue from all of this year from the 1st February onwards remember) it showed on its balance sheet revenue for the year of..,
Wait for it...
A staggering THREE MILLION POUNDS!!!
And resulting in a profit for that year of £1,150,000
Where at the money come from you may ask?
Well mainly by GLP followers donations!
The accounts show case specific donations of £1.3m (20% of which is taken out to fund the running of GLP as it states when seeking case specific contributions) and £1.15m as regular and one off general donations to GLP itself.
To put this into some context at the hight of the BLM donations frenzy, they collected just over £1m.
https://find-and-update.company-information.service.gov.uk/company/10556197/filing-history
It makes me wonder what GLP will have received in donations this year, I don't doubt it will easily top the £3m of last year - don't you?
Fair play to Maughan and GLP to start with nothing and have £3m revenue and £1m in the bank just three years later (and no doubt significantly improve on that this year).
Just goes to shows the power of using social media as a means of generating revenue for his 'project' I guess.
. 
