copolt indicated in a post earlier today that LD$ Inc. has closed its the Garretts Green U.K. store/distribution center and laid off church employees. S/he wrote: “Sad for those that have lost a job but I'm glad to see the church 'struggling'.” (ref. http://exmormon.org/phorum/read.php?2,43877)

LD$ Inc. ‘struggling’, indeed! Just how ‘bad’ are things? According to TSCC’s most recent financial statement filed with the British government’s Charity Commission (for the year ending 31 Dec. 2008):

Amount invested: £7M (at an average ROI of 5.72%)
Interest income: £774,000
Reserves: £261,635,000

(see pdf pages # 11 and 12 of 32 at http://www.charitycommission.gov.uk/ScannedAccounts/Ends51%5C0000242451_ac_20081231_e_c.pdf)

Total funds carried forward from 2007: £271,920,000 (see pdf page # 17)

I don’t know how many people worked at the Garretts Green facility, but if, say, 10 church members worked there, the total cost to LD$ Inc. of their salaries and employee benefits would have been somewhere – I figure – in the neighbourhood of 1/1000th (0.1%) the value of LD$ Inc.’s reserves in the United Kingdom.

That’s how much British Latter-day Saints mean to the ‘one, true’ corporation of Jesus Christ!

If that's the case, there will be much higher shipping costs to get manuals, garmies, etc. across the Pond.

Because of the Great Recession, most Mormons in the U.K. are already hurting financially, no doubt. I don't think they'll order much from a Morg warehouse in the U.S.A.

Thanks Bean counter.

"Struggling" really referred to missionary work and member retention but I found your figures interesting nevertheless.

By the way, you can more than half that workforce number.

...that super-wealthy LD$ Inc., "An unlimited company and registered charity" in the U.K. (see p. 1 of the pdf), won't spend 0.05% of its reserves to keep just five Latter-day Saints (0.00272% of its British membership) employed!

Yeh, and what`s with the church isn`t paying for cleaner/custodians anymore? Turn up and clean the toilets yourselves on Saturdays.

Just wait a bit longer and the members will be supplying their own loo cleaner and toilet rolls.

copolt Wrote:
-------------------------------------------------------
> Yeh, and what`s with the church isn`t paying for
> cleaner/custodians anymore? Turn up and clean the
> toilets yourselves on Saturdays.
>
> Just wait a bit longer and the members will be
> supplying their own loo cleaner and toilet rolls.

There used to be many more employees, years ago. But they kept chipping away and cutting back until now it is all gone.

Obviously a long--term plan to close the operation down. Consolidation. Not necessarily to cut costs, but to tighten control.

Immeadiately following "Do you know of any reason why you would not qualify for a recommend".....(this may be added at the Bishop`s discretion).... "Now is your opportunity to bear your testimony on the faith-promoting experiences you have had whilst restoring the toilet bowl to it`s former white and delightsome condition."

"Nobody has looked into this recipient yet

"Currently all we know about AGRESERVES LTD are the few bits of information released by the United Kingdom government.
We need your help to find out more about this recipient. Is it a multi-national company or a small farm? What does it produce? Is it a subsidiary of a larger company? How large is it? Is it owned by anyone noteworthy?"

This is the link: http://farmsubsidy.org/GB/recipient/GB641044/agreserves-ltd/

Can someone send them information about the LDS Corp as owners?

The organization requesting information is described on the websites as:
"Farmsubsidy.org is a project of EU Transparency, a non-profit organisation."