London Capital & Finance associate’s horse business collapses into administration

One of the equestrian companies linked to Spencer Golding, the millionaire accused of receiving millions of pounds from collapsed bond company London Capital & Finance, has been put into administration owing him nearly half a million pounds.

HF Sport Horses has gone under with its biggest debt being for £461,111 owed to Home Farm Equestrian Centre. Home Farm – thought to represent the “H” and “F” of HF Sport Horses – is the East Sussex business owned by Golding.

Golding is alleged by LCF’s administrators to have received £42.8 million of bondholders’ money.

HF Sport Horses was set up by equestrian worker John Cubitt in January 2019 with its activities cited at Companies House as raising and owning horses.

Cubitt, is also director of another Golding equestrian firm called FS Equestrian Services, which administrators to LCF allege received £11.9 million of bondholders’ money. He appears to use the name Sean Cubitt for that role.

Neither Cubitt nor Golding’s representatives responded to requests for comment.

HF Sport Horses is being administered by Quantuma, which said the business’s sole asset appears to be a horse with a potential realisable value of £8000.

LCF collapsed last year owing 11,500 bondholders around £237 million.