I

T'h~e
E-'~v"~"rt'o" n
1 ~ ~,,, >,'~f. ' u I ' .

Football Club
... Company Limited

Annual Report
and
Statement of Accounts
at 31 May 1975
 THE
EVERTON FOOTBALL CLUB

~~
COMPANY LIMITED
!~
f

NOTICE OF MEETING

NOTICE IS HEREBY GIVEN that the Directors

Ninety-sixth Annual General Meeting of A. W. Waterworth. J.P., Chairman
the Company wiil be held at the offices of John Moores. C.B.E., Vice-Chairman
The Everton Football Club Company Limited, J. C. Sharp
Goodison Park, Liverpool L4 4EL, on G. A. Watts
Thursday the 14th day of August, 1975, at T. H. W. Scott
7.00 p.m. to receive and consider the Report K. M. Tamlln
of the Dlrectors, and the Accounts for the P. D. Carter
~ period endad 31 st May, 1975. to elect
. Directors, to fix the remuneration of the
Auditors for the ensuing year, and to
• transact any other business which may be
~ transacted at the Ordinary General Meeting
of the Company. Secretary and Registered O'ffice
The Transfer Books of the Company will C. D. Hassell,
. . closed until 15th August, 1975. Goodlson Park, Liverpool L44EL

By Order of the Board.

C. D. HASSELL. Secretary.
Goodison Park, Liverpool L44EL. Manager
10th July. 1975. W. L. Bingham

Admission on Presentation
of Annual Repori
-r~otice is also given that a Member of the Bankers
"'~ompany entitled to attend and vote at the
above Annual General Meeting is entitled Midland Bank Limited
to appoint a proxy to attend and vote instead
of him, and that the proxy need not be a
member of the Company.
Proxies must be lodged at the Registered
Office of the Company, not less than Auditors
48 hours before the time of the Meeting. Rogers, Bowler & Co.

~-
THE
EVERTON FOOTBALL CLUB
COMPANY LIMITED
CHAIRMAN'S REPORT
I have much plluura In pr...nUng the Report lind
Accounts.
Thl past I&uon wal a frustrating bland of excltement
lind disappointment, We headed the First Division on mars
occlIlIlons than any other club. Within weeks of the end of the
....on we WIre three points ahead of our nearut rlvZlls with a
game In hand. Unfortunately our end of season form was
disappointing, WQ lost a number of games which we should
hove won end we f1l'lshed fourlh In the League. In our natural
disappointment at having missed the gllttQrlng prIze which at
one moment seemed within our grasp. we should not forget
that Everton continued to show the Improvement which had
been apparent In the prsvloua seeson. This I" Mr. Blnghamls
second asaaon as Manager. Hie first SQ8S0n ~aw the club climb
from seventeenth to seventh place In the Leftgue. This year we
reached fourth place and quallflod for 8 place In the UEFA Cup
Competition. Now that the Iniquitous 'One city, one club' rule
hae flnnlly been abolished I am certain that we will be seeing
more Europeftn footbell on Merseyslde. not only durlno this
coming season but In the years ahead. Evorton has long argued
that entry to the UEFA Cup should be on merit alone and not
dependent on geographical location, It Is encourllglng that this
view hD9 prevailed at last.
To have earned a place In Europe Is an achievement
which reflects credit upon Mr. Bingham and upon the sklll and
endeavour of the whole team. We at Everton , however, should
never be satisfied with anything less than the best. Ths.e Is
still a long way to go before we nave blended a team with
which we can all be satisfied but after last season we know
that we have the nucleus of a side capable of winnIng the
Championship.
During the season we were obliged. usualJy through
Injuries, to playas many as twenty-three different plnyers In the
first team. Whilst giving an Indication of the depth of talent
within the club. this necessarily meant that on most occasions
our Reserve side was well below strength. Despite thls,
however. they fInished fifth In the Centralleagua - a result
that owes much to tho unselfish enthusiasm of Mr. RZlY
Henderson, the second team coach. Our younger players, by
winnIng the Lancashlra League Division I and Division II and
by winning the <,)lIpplementary Cup outright, established
a ~%ort.l which has not been equalled by any other
club. The Youth tsam were winners of an International
tournament In Germany at the end of the season and reached
4
the Flnal. of the lancllhlra Youth Cup. ThIS' succe•• e. art
largClly dU8 to Mr. Ray Mln.hull who II In charg. of our Youth
DGlvelopmlJnt Polley and to Mr. ErIc Harrlson, the Youth t.lm
coach. No club can facal the future with any ccnfldsnce unl6ll11
It hat good young playctr. at every ItZig. of development. W.
have contlnumd to encourage talented youngstera to make their
fOCltballlng careers with Everton and WG lire Clrt:!:- that within
a f.w years a number of thl•• boys will be taking thllr ~lacl!
tn the flr,t team.
The first team was atr.ngthllned at the out.,· of the
..aeon by the arrival of Martin Dcbson from Burnley, whllet In
March Davld Smallman [olned us from Wrlxham. Both thIS.
players galnlid Intsrnatlonal cap! durIng the lIIalon, one with
England and the other with the Wellh tllm, Da! Davllus. who
eslabllshad hlmaelf !IS a first team go.lke.par this 811l180n, was
awarded International caps for W~I8I whilst David CI.mentl,
the cstabllahed lrlsh International. had th. responsibility of
betlng play, -mzmager for the Northern Ireland team throughout
the home Internatlollal aeries. Peter Scott received his flrat oap
for Ireland, whilst our skipper. Roger Kenyon, I!l member of the
England squad narrowly missed an International cap when
chosen as substitute In the match against Cyprus. Mlck
Buckley. Bob Latchford and Mlck Lyons all played during t h e .
season for the England Under.23 team whlfst Jim Peerson
represented Scotland at the same laver. Two of our players
played In the England Youth team - David Jones a-rd NGII
RobInson.
JOB Royle, who over the year. scored more than a
hundred gonls for EVQrton. was transferred to Manchester CIty
shortly before Christmas and Colin Harvey. another really great
Everton player, jollHtd Sheffield Wednesday. Gordon Wist, yet
another member of our last Chlmlplonshlp winnIng side.
retired from football at the end of the season after an
outstanding career with the club. Bill Kenny wh« played for the
first team on a number of cccaslcna was transferred to
Tranmere Rovers. .... .
Sometimes Everton are accused of trying to buy
success and of spending vast sums to achleve this end. This
Is not true and to put the record straight I would point out that
despite some spectacular and expensive Incursions Into the
transfer market during the last two years. our net expenditure
slnce the appointment of Mr. Bingham as Manager, has been
£75,000. A sum which hardly suggests that we are one of the
big spenders of the transfer scene.
 By tho end of the .aallon the view Wit b.lng freely
expr• .,ed In footb.:1 Board Room. that the day. of the really
Ilrg. tl1lOsfer fe.. wert)over, Whath,r this prove. to b.
correct or not, thare 10 no doubt at all that the vicious rate of
Inflation Is preuiltlng serlcue problems to proflulonal
fCJotball clubs. Manyclubs have alrmady reduced their playing
Itaff whilst we at EVGrton havi eerrled out III uarchlng revlClw
of current Ixp8ndlture. A number of substantial eccnornles
hAve been eFfectod and, where possible. capitol expendlturs
hall been pruned. DespltG this, costs are riling eharply and tlua
Board have had to Increase seat prlcss for th~ comIng 1EI1ison
as wmll as raisIng the admission charge to the minimum
allowed by the Football Letlgus. Our seaaon tlckats are stili
amongat the cheapest In the Flr~t DIvisIon.
Bofore t8klng Trenif~r (-"oas :,to account, the club made
" a surplus of £85,679 durl,I\' tho year under review. Not Tn•.•..fGr
• Fees totftllQd £127.200 lind after transferring the £100,000 s~t
aslde last year In the Transfer Reserve, the club produced a
net surplus of £8,479 on the year's trndlng. The aubste.ntlal
rise In gate rscslpte was very largely offset by the 20%
W increase In Wag~s and Salaries and shareholders must be
prepared for Increases under this hoading In the coming year.
When considering these accounts It Is Important to note the
contribution of over £100.000 made by our Commercial
~partment from such activities as catering, social functions,
~vertlslng and the sale of programmes and souvenirs.
Without the eneraetlc steps taken by the Board over the past
few years to develop this side of the club's actIvIties WG would
have been obliged to reduce our playing slaff and alill furth,r
Increase admission charges. Whilst our current borrowlnQti
at £819,HiB are not yet at II dangerous level, It Is the B08rrJla
IntentIon to reduce these as soon as practicable.
Attendances during the past season averaged just to IOi
40.000 - an Improvement of 14 % upon the previous year's
figure. At a time of decllninu standards throughout the
country, I am glad to say that crowd behaviour at Goodlson
was generally good and posod comparatively few problems for
the police. Our reputanon for good sporting behavlcur was
- ~fortunately marred by the action of one or two young
hooligans who threw bottles on to the pItch and provoked a
spacial F.A. lnqulry. The club was found to have taken a/l
reasonable precautions to prevent such IncIdents but
neverthelees our reputation was tarn/shed by the conduct of
stupid and lrrssponsfble Indlvlduals,
The new weight training gymneslum referred to /n Just
year's Report was completed In January and SUbsequently
proved of great beneflt to the players and c08chlng !tafi
At the ,nr) of the .eason our own Maintenance Staff
Inlt.Ued aWl more .afaty barrl.ra on terrae•••round the
ground 10 as to comply wJth forthcoming Ilgl.latlon on the
Saflty of Sports Ground •• We are confident that our Isfaty
etan:Jards are now amongst the hlghelt In the Laague.
Durlng one of the wettest "alon. on record thea pitch
at Goodtlon agaIn proved tho value of the land Injection
process whIch has been applied durIng the past two ••ascn ••
SImilar treatment Wtll again und.rt~k.n at the end uf the
.,8&On lind It Is anticipated that the condltlon of the pitch
should continua to Improve, Constant uletgs often under wet
condition. meant tha+ the Blllllefield pitches ,ultalnld ht;avy
wear, It Is a tribute to the ground staff, both there and at
Goodlson, that within thrOB weeks of the snd of the aealon
",wly sown grail wae growing and thG ravages of the p!lat
seescn had almost disappeared.
In last year's Report I raferred to the appclntmenl of
Mr. Skinner as CommGrcl81 Mtmag&r. He htlS had a suceessful
first year In his new position and his department made a velY
useful contribution to the club's Income. During the clcse
season It Is Intended to redecorate and lmprovs faclllties
within the 800 Club and restaurant, Wuch of thG Increased
Income from catering and soclal functions has arisen as a
result of the lmprcvements effGlcted In the sao Club laat year
and It Is antlctpuiQa that the rafurblshlng of the SOO Club will
make It stili rnors attractlvi for private and cornmerclel
functions.
As Chelrman of Evertonl I am fortunate In having the
hard working assistance and loyal support of a very active
Board of Dlre~tors and I am pleased to havs this opportunity
of thanktng them publicly for their work during the year. I
would also like to pdy tribute to Mr. Norman Coffey who
re81~n(Jcl at the end of the season, after servIng 26 years as a
d-,ector of the club. He was a IOY211 and experienced COllGllgue
and a true Evertonlan. In recognition of his service to the club
he was appointed a Vice President and we look forward to
seeing him at Goodlson for many years. The Board elected
Mr. Philip Carter to take his place and I am confident that he
will playa slgnlflctln+ and valuable part In the future of the club.
The Directors, the St!lff and the players are all dedicated to
establishing Everton as the leading club In the country.
I am confided that the coming S6a90n will see the club
continuing the Improvement that has been evident over the
past two seasons.
ALAN W. WATERWORTH
Chairman
10th "tulYt 1975.
5
 \,
THE
EVERTON FOOTBALL CLUB
COMPANY LIMITED
rv ~
'

REPORT OF THE DIRECTORS

The profit for the year to 31 st May. 1975 The amount of Steck In the Company In which
amounted to £8,479. The Directors do not the Directors at the end of the Financial Year
recommend the payment of a dividend. were then Interested, according to the
register kept by the Company for the purposes
Directors of Section 27 of the Companies Act, 1967 are
At no time during the last financial year has: shown below. No other Interests of these
1. Any Director of the Company had directly Directors lu Stock of the Company were
or indirectly any material interest in any recorded in the register at that date.
Contract with the Company of significance
in relation to the Company's business 1 June 81 May
requiring disclosure under Section 16 (1) (c) 1974 1975 -
of the Companies Act. 1967.
2. The Company been a party t" any
arrangement to enable Directors of the
Company to acquire benefits by means of
the acquisition of stock in the Company
or any other Body Corporate.
Mr. A. W. Waterworth, J.P.
Mr. John Moores, C.B.E.
Mr. J. C. Sharp
Mr. G. A. Watts
£
3
895
3
169
n.
£
8

8
169
.i -
•
I

;.- !':"'-
J •

Mr.T.H.W.Scotl 3 8
Mr. K. M. Tamlln 3
Mr. P. D. Carter 8

Mr. N. W. Coffey was also a Director of

the Company during but not at the end of
the Financial Year.

The following Members of the Board of

Direct-irs retire in accordance with the
Company's Articles and, being eligible, offer
~ .1
themselves for re..election:
Mr. A. W. Waterworth. J.P.
Mr. G. A. Watts

A nomination has been received on behalf of:

Mr. I. A. T. Legge. F.e.A.

6
-.' ...... ..

..

Prlnelpe! activity Auditors

.. !
! The principal activity of your Company Messrs Rogers, Bowler & Co. have Intimated
centlnues to be that of a Professional their willingness to continue 8S Auditors of the
j
Pcetball league Club. Company.
.. I ..

Fix6d assets
FUU detaBs of the changes to the Fixed Assets
are-shown ln Notes on the Accounts. In view
ef the speclallssd use of the Freehold Land
. a-nd Build:ings at Goodison Park, the Directors
to
are, unable give an indication of the
difference between market and book value.
It is considered that the market value exceeds
. !.. ..:.:~,,'e vaiue included in the Balance Sheet.

Char:iitable and poUtical

contributions
There where no charitable or political
contributions made during the year.

ALAN W. WATERWORTH,
Chairman

10th July, 1975.

7
 THE
EVERTON FOOTBALL CLUB
COMPANY LIMITED
~ .. r »

INCOME AND EXPENDITURE ACCOUNT 1

for the year ended 31 May 1975
~
1975 1974
£ £
Income
Gate receipts, after percentages
to visitors, League and Associations 526,130 410,876

Profits from sub..lets, programmes,

bars. property, etc. 102,062 881'448

628,192 499J323

/",
Expenditu ra .
Salaries, wages and other payroll costs 343,145 280- ,~ .
' i 7Q. -' ....
Transfer fees (net), less provision 27,200 (23 j 9 0 0 )
Training. travel, match and other expenses 108,949 114,684
Ground expenses and maintenance 31,060 25,1'95
Utilities 70,463 46,018
Depreciatio n 10,128 5r423
Auditors' remuneration 2,000 11000
Other administrative expenses 20,640 19,407

608,585 474J413

Surplus carried to .~ 1
Profit and Loss Account £19,607 £24,910 ~. j

8
 THE
EVERTON FOOTBALL CLUB
COMPANY LIMITED
~ ''--~
•

1 PROFIT AND LOSS ACCOUNT

j for the year ended 31 May 1975

'1975 1974
£ e
Surplus from
Income and Expenditure Account 19,607 241910
. Acid: Interest received 6,211 11 1906

25,818 361816

Deduct: Interest paid 20,197 81175

5,621 28,641
.
~ ~'dd.· Exceptional Items (Note 8) 2,858

8,479 28,641

Taxation (Note 4)

Profit after taxation 8,479 28;641

Retained profits brought forward

from previous year 157,785
Less: Prior year adjustment (Note 5) (15,445) 142,340 129,144
.......
~
1 .... ·4letained profits to date £150,819 £157,785
J

9
THE
EVERTON FOOTBALL CLUB
COMPANY LIMITED

BALANCE SHEET
as at 31 May 1975
Fixed Assets 1975
Freehold land, buildings, equipment £
and motor vehicles, at cost, less
amounts written off (Note 1) 690,888

Current Assets
Stocks (Note 2) 17,881 5,793
Sundry debtors 190.491 118,600
Cash at bank 20,249
Cash in hand 15,461 223,838 26,4{}4

914,721

Less: Current Liabilities and Provisions

Bank overdraft 125,658
Sundry creditors 171,785 172,448
Loan 198.500 195,000
Provision for transfer fees 490,913 100JOOO

Net Assets £423,778

Financed by
Capital and Reserves
Share capital (authorised and issued)
2,500 £1 stock units 2,500 2,500
General reserve 270,459 270,459
~
Profit and Loss Account 150.819

£493,778 £430,744
Signed on behalf of the Board
ALAN W. WATERWORTH } Directors.
G. A. WATTS
REPORT OF THE AUDITORS TO THE MEMBERS OF THE EVERTON FOOTBALL CLUB COMPANY LIMITED
In our opinion the annexed Balance Sheet, Profit and Loss Account, and Notes glvo a true and fair view ofthe state of the Company's
affairs at 31at May, 1975 and of lt~ Profit for the year ended on that date, and comply with the Companies Acts 1948and 1967.
Signed ROGERS, BOWLEf, ~ CO'I Chartered Accountants, liverpool, 24th dena 1975

10
 THE
to ef~"} t i (y til( 1. ttl) ~. J S i.... trut'~
EVERTON FOOTBALL CLUB l:t'i'J o : tJU.: .t: • .l .~ll:C ..';1
i ,t ll~t·: .1. :";" j to

_.~OMPANY LIMJ.~~. ~
t .t,.'j:·L'l::,r:. o t l!lf" ~OHlp; n;y at. cr.e A!tIlual

'J-~-:#1on~:t:1 ,'.~ jtt

~ilmeI'I,l
' ...-t i n 1'. /'.•

~;;U I ~
~r i .. . ~cr..t"ry /

NOTES ON THE ACCOUNTS

for the year ended 31 May 1975 "
1. FIxed Astots Freehold land Standi,
end buildIngs fixtures. etc. Vohlcle. Totall
e £ e £
COlt or valuation
At 1st June, 1974 1CO,758 7251099 5,975 882,727
Addttlons (see below) (25,830) 2.280 (29,100)
Disposals (3,000) (S,OOO)
At 31st May, 1975 97,758 700669 8,205 806,627
~eproe-tation
At 1st June. Hr,4 27.720 75.600 2,291 10e;,811
ProvIded during ye21r 8,528 1,600 10,128
On dlspcsals
At 31st May, 1975 27.720 84,128 8.891 118.789
Not book value at 70,OSS 616.541 4.814 690,888
3ht May, 1975 ----- --
Donations received from the various Everton development associations have bean applied In reduction of the cost of stands,
etc.
No depreciation Is provlded on land, buildings, stands. fixtures and equipment associated with the punclpel activity of the
COlnpany. Other fixed assets, Including vehicles. are being depreciated at 25% on the reducing balanc.EI basis.
2. Stocks
Stocks consist of refreshments and souvenirs, and have been valued at the lower of cost or market value.
3. E)(coptional items .£
Profit on sale of property 1,750
Distribution received from Investment previously written off 1.108

4. Taxation
After m21klng adjustments necessary for tax purposes, no tax Is due In respect of the profit for the year.

.'
~
5.

'W
6.
Prior year adjustment
The Company recelvod nollflcatlon during the year that due to on error It had been undercharged for electricity consumed
over the years 1970 to 1974. The amount of the undercharge. In so far as It related to prevlous years. has been deducted from
the balance of rstalned profits brought forward.
Employees' Emoluments
The numb- I'!)f employoes earning over £10.000 per annum was as follows:-
1974/75 1973}74
Beh~eE'n
£1 fl.001 and £12 1500 3 2
Between! 12.501 and £151000 2
7. Future capital expendlturB 197fi 1974
Amount contracted for but not provlded for In these accounts Nil Nil
Amount authcrlsed by the Directors but not yet contracted for Nil £19,550

11
THE
EVERTON FOOTBALL CLUB
COMPANY LIMITED

MINUTES OF THE 95TH ANNUAL GENERAL MEETING HELD AT GOODISON PARK, LIVERPOOL ON
THURSDAY, 1st AUGUST, 1974, AT 7.00 P.M.

Present: Messrs. A. '1\.1. Waterworth (in the Chair), J. Moores, C.B.E., J. C. Sharp, N. W. Coffey,
G. A. Watts and T. H. W. Scott (Directors), W. L. Bingham (Manager), C. D. Hassell (Secretary),
K. M. Tamlln (Solicitor), P. B, Bowler (Auditor), together with 86 Shareholders.

.. ELEC
NOTICE: DIRECTORS· REPORT AND ACCOUNTS:
It was agreed that the notice convening the It was agreed that the Dlrectors' Report and I
meeting be taken as read. ... Mr.'
the Auditors' Report be taken as read. The
Chairman then called upon Mr. Watts who • ell.glb
PRESS: Mr. J.
proposed the adoption of the Accounts which
It was agreed that the Press who were not $1
showed a profit of £28.641. This was seconded
present should remain In attendance. .I!!III~topc
by Mr. Brown and after a number of questions
'~d~
had been answered tho resolution was put to the
MINUTES: Mr. L
meeting and carried unanimously.
The minutes of the previous Annual General 11
Meeting, held on 2nd August, 1973, having been resoli
circulated were agreed to be taken as read, DIVIDEND:
Mr. C
confirmed and sIgned as a correct record. It was proposed by Mr. Sharp and seconded propc
by Mr. Search that no dividend be paid. On being unani
CHAIRMAN'S REPORT: Mr. T
put to the meeting the resolution was carried
The report having been previously circulated unanImously. Corm
was aqreed to be taken as read. There were no 1
questions. The Chairman then referred to the
recent sad passing of Mr. C. E. Balmforth, a AUDITORS: .-...1ecor
~Irec
former Chairman of the club, It was aoreed that It was proposed by Mr. Scott and seconded to the
a letter expressing the vary best wl, as of the
by Mr. Beattie that the remuneration of the unani
meeting be sent to Mrs. F. Balmforth. The
Auditors for the ensuing year be left to the rv
Chairman also referred to the sad retirement
through Injury of the club's International full back Directors to decide. This resolution was carried thank
Tommy Wright. unanimously. suppt
 .. ELECTION OF DIRECTORS:
It was reported that Mr. N. W. Coffey and
.. Mr. T. H. W. Scott retired by rotatton and being
• ellglble offered themselves for re-election.
Mr. J. P. Hacking also retired by rotation but did
· \
not seek re-election. There were three nominations
droposlng Mr. K. M. Tamlln, Mr. I. A. T. Legge
--..-nd Mr. P. Parry. However those in respect of
Mr. Legge and Mr. Parry were withdrawn.
It was unanimously agreed to take a sIngle
I esclutrcnfor the re-election of Mr. Scott and
Mr. Coffey. The Chairman therefore made the
proposition seconded by Mr. Bailey and It was
unanimously resolved that Mr. N. W. Coffey and
Mr. T. H. W. Scott be re-elected Directors of the
Company for a further period of three years.
The Chairman then proposed, and Mr. Whitley
~econded. that Mr. K. Tamlin be elected a
"~lrector for a period of three years. On b~jng put
.- to the meeting the resolution was carried
unanimously.
Mr. Tarnlln, Mr. Scott and Mr. Coffey suitably
thanked the members fCJr their confidence and
support.
SPECIAL RESOLUTION:
The Chairman then proposed that the
following Special Resolution be adopted:-
"That the Memorandum of Assoclatlon be
altered In manner following that Is to say that
there shall be added to Clause 3 G> after the
words "hold shares In" the following:-
lito lend and advance money or give credit to: to
guarantee and give guarantees or indemnities for
the payment of money or the performance of
contracts or obligations by; to secure or
undertake In any way the repayment of money lent
or advanced to or the liabilities Incurred bYi and
otherwise to assist",
The resolution was seconded by Mr. Parry
and after a number of questions had been
answered, was put to the meeting and carried
unanlmoualy.
ANY OTHER BUSINESS:
There ware various questions of a general
nature and these were suitably answered.
There being no further business the meeting
closed with a vote of thanks to the Chairman.
13
THE
EVERTON FOOTBALL CLUB
COMPANY LIMITED

NOTES

•••

14
 , , u., .u, Kio~u.

'~e~ Warohous.e Ltd.

AMBl'i0Jl Warehousee (Liv.rpooJJ.) Ltd.
''''",oa Suppliers Ltd•
. . . . . .a'nbergs Body Worb Ltd.
~ "itish Paraoh~t$ Co. Ltd.
~_.~ Ie mdwal:'ds Ltd.
~ Trader8 (Liverpool) Ltd.
,.. '-rk Manufacturing Co. Ltd.
,*,~e Estate Company Ltd •
.... litchen & Bona Ltd.
~ tilton Engineeri~g Company Ltd.
~ l~ternatiGnal Import & Export Company Ltd.
___tit Ltci.
"""~oeds Mail ~dar stores Ltd.
~ & Oottntry C0mmercial PrOp3rty Investments Ltd.
~weeQS War&he~8eB Ltd.
, .. ' ' eWGeJs of Liverpool Ltd.
, . \..: .verpoel :Bedding (;0. Ltd.
~Q01 CQn~'aetors Ltd •
• M,eore,a Quality stores Ltd.
,.~ ,• . :0. Maores l"td.
",' , '" ,', .yside Furniture MaAufacturing C<"mpany Ltd.
, Fleor's Ltd.•
',' ard Mills Ltd.
& Car. Ltd.
, p;r,eduots Ltd.
~.<.r Manufacturing CQ. Ltd.

/~. 1wn11el Ltd.

,~,he6 of Switze~land Ltd.
~ & Lawrence Ltd.
~.'
~ ,~uel (Jawe11ers & Bilversmith8) Ltd.
~'$aiety Pictur~ Hoase (Southampton) Ltd.
I

(~t Jewellers Ltd.

4J.1i.am Pearsall Ltd.
i.-zy Samuel Ltd."
8/.t,Ied Mamufacturing Jewellers Ltd.
:.: ')11. E. Osborne Be COe Ltd.
t ',rmore Estate Coo Ltd.
~~~ Littlewood Pensions Trust Ltd.
,"' ~ ·:hester Holdings Ltd •
. «, ; i. Pr oducr s Ltr.
~ M. Lane & ~o. Ltd.
-,:':Ably Hughes & Co~ Ltd.
: J • ~on Caterers Ltd.

~5_: a.E. Ba1mforth.

ley E8tates Ltd.
i :

-, • Darracott Ltd.
"fill .... Swi.:tt ('£ilel's) Ltd •
. " y Mar:.:'6 Ltd.
, ,den (;Jill) Ltd.