Thinking outside the box: Gerrard invests £371k in water business facing uncertain future
Steven Gerrard has invested £371,524 in a water business that he helped promote.
Mr Gerrard became an ambassador for the Angel Revive brand in 2019 after he was approached by the company’s owner Mark Doyle. Last week the ECHO revealed how the business could be dissolved in the coming months.
The ECHO can now report that Mr Gerrard granted the company a loan worth £371, 524. Steven Gerrard Promotions (SGP) has posted a financial statement which reveals the former Liverpool captain has a financial stake in Angel Revive
The Aston Villa manager is a director of SGP and majority shareholder. The report reads: “Also included in investments is a commercial loan to Angel Revive Limited, the value of this loan at 31 March 2021 was £371,524.”
The report also states that Mr Gerrard also owns 25% of the shares in Angel Revive.
read also:Bundesliga: Keeper Sommer to the rescue for Gladbach in draw with Mainz
On March 15 a notice was posted on the Companies House website stating that the company could now be struck off.
It reads: “The Registrar of Companies gives notice that, unless cause is shown to the contrary, the company will be struck off the register and dissolved not less than two months from the date shown above.”
A source close to Angel Revive said that the company hoped to file its accounts in the coming weeks. In October 2020 Angel Revive posted accounts which showed it owed £931,912 to creditors.
The latest accounts for SGP reveal that the company is worth around £7m. The company has net assets of £7,013,775, including an investment portfolio worth £5.6million,cash held in a bank account.
A report in the accounts said the stock market fall at the outbreak of the coronavirus pandemic had affected the value of the company’s investment portfolio but stated it had since “recovered strongly”.
It also said the firm had a “strong balance sheet” and was in a good position.
In 2019 Mr Gerrard told the ECHO that he was introduced to high alkaline water during his time playing for LA Galaxy. Mr Gerrard said he agreed to become a brand ambassador due to the water’s health benefits.
Mr Gerrard did not have a formal role with Angel Revive. According to information on Companies House Angel Revive is controlled by Mark Doyle and his partner Paula. Mr Doyle is the former owner of King Construction, a construction and road surfacing company.
Mr Doyle left the business in 2019 after NVM Private Equity invested £11.6m