Coventry embargo (will we get punished too)?

[Simon Pieman]

Noticed that Coventry face an embargo for failing to file accounts on time. Ours were also due yesterday and haven't been filed. More bad news?

[horlock07]

Noticed that Coventry face an embargo for failing to file accounts on time. Ours were also due yesterday and haven't been filed. More bad news?

Do we actually know the structure of our ownership at the momeent, did the new co buy Swindon Football Holdings Ltd or just buy the club from them?

Also is there and leeway in filing if you are mid takeover or within the due dilligence period?

[Simon Pieman]

Do we actually know the structure of our ownership at the momeent, did the new co buy Swindon Football Holdings Ltd or just buy the club from them?

Also is there and leeway in filing if you are mid takeover or within the due dilligence period?

Not with Companies House, I don't know if the accounts are submitted to the Football League with a budget for next season and this is what the issue with Coventry is, or if it's purely down to not having them filed.

There's no real reason they couldn't have been filed pre-takeover, now the takeover is complete it will only lead to more work for the accounts as the takeover, loan write offs and such will need disclosing (post-balance sheet events).

[Paolo69]

Hopefully it's just a case of Companies House taking a few days to acknowledge receipt of them.

I like to be optimistic, but it is possible.

[Ardiles]

We don't have a Finance Director, as such - so I would imagine that the filing would be the responsibility of the Financial Controller (Joanna Page?) reporting to the Chief Exec?  I'd have thought Nick Watkins would have made it a priority to complete the filing before clearing his desk.

[pauld]

We don't have a Finance Director, as such - so I would imagine that the filing would be the responsibility of the Financial Controller (Joanna Page?) reporting to the Chief Exec?  I'd have thought Nick Watkins would have made it a priority to complete the filing before clearing his desk.

Well we did have an FD, didn't we? Pretty sure that was Russell Backhouse's role - it certainly was when they first came in and don't remember him standing down in the meantime. He was on the board till the end. The same comment as per NW applies - i.e. surely he'd have had it all ready and made sure it was filed where it needed to be before standing down?

[Simon Pieman]

The FC has usually filed all of the documents. I guess the issue is who actually compiles them, we don't use external accountants anymore, or at least haven't for some years.

[Simon Pieman]

Accounts have now been filed, but not currently available to view from Cos House.

They'll probably be available for me to see from Tuesday or Wednesday, depending on when the database I use has them available. I'll do my usual geeky analysis and try to do a plain English version of the key points too.

An application for the holding company to be struck off has also been made. This would indicate the loans into and out of the holding company have been fully written off/paid up, though it may be the case some or all of it is transferred into newco (Seebeck 87).

[jonny72]

Accounts have now been filed, but not currently available to view from Cos House.

Can you look at the charges against the club as well? Looks like one was (part) satisfied last week but four outstanding.

Which I guess maybe means some of the money owed directly by the club to Black is still outstanding?

[Simon Pieman]

Yes, it’s the debenture between the club and the holding company which has been fully satisfied. No evidence to suggest that the club doesn’t still owe Black and Arbib anything (4 outstanding charges), though it could  be the case these are satisfied and the documentation isn’t yet completed.

I expect the accounts will give us a more meaningful picture – I hope there is sufficient detail in the post-balance sheet events disclosed.

[jayohaitchenn]

Boring Si.

[Simon Pieman]

Boring Si.

It’s all fun and games when you’re sat in a bathtub full of beans for the Pudsey kids. But those beans have got to be paid for.

[Ticker45]

Having been a local football club secretary/treasurer for many years doing the balance sheet was a real pain at very local level so fair play to whoever sorts the Towns financials out!

[jayohaitchenn]

It’s all fun and games when you’re sat in a bathtub full of beans for the Pudsey kids. But those beans have got to be paid for.

Done is done, fam.

[Flashheart]

The umbungo hasn't even been lifted yet, so Morshead understands.

Sam Morshead ‏@SamMorshead_SA
For those asking, I'm not anticipating any loan signings this week.

David Haydon ‏@davehaydon1
@SamMorshead_SA still an embargo I beleive!

Morshead ‏@SamMorshead_SA
@davehaydon1 yep there is. Leftovers from previous regime. Should be sorted next week