RobertT
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« Reply #45 on: Tuesday, October 9, 2007, 08:51:20 » |
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They don't need to ask anyone really, it's all public if you want it, published at companies House a few weeks back showing our current position of debt.
Called Up Share Capital + £2,250,000 Share Premium Reserve + £2,585,161 Profit and Loss reserve - £16,737,187 Equity Shareholders' deficit - £11,902,026
So lots and bad looking.
Net Liabilites of £11,902,026 made up of:
Current Liabilities - £8,799,529 Assets - £643, 249 Long Term Liabilities - £2,467,664 Deferred income - £1,278,082
This meant by the end of 2006 season we were about £800k worse off than the year before, and we can expect the same to have happened up to 2007 end of season.
Whatever way you look at the accounts they show a big problem on the Balance Sheet, a continuing trend of spending more than we receive and a rising cost of servicing debt. The only reason we have been allowed to continue is because we have had a guarantee by SSW to loan funds until 2008, thus meaning we could claim we were a going concern.
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STFCBird
Ralphy's Wet Dream
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C U Next Tuesday!
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« Reply #46 on: Tuesday, October 9, 2007, 08:53:08 » |
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I'm scared........hold me
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RobertT
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« Reply #47 on: Tuesday, October 9, 2007, 08:54:44 » |
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Oh, and I guess the accounts do not include £1.2m to Power as it was completely dismissed at that point. So you add £800k for one more year plus the £1.2m to Power into the liabilities.
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Peter Venkman
We don't need no stinking badges.
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Things can only get better
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« Reply #48 on: Tuesday, October 9, 2007, 08:59:48 » |
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Well this is a new low, I am truly shit scared of losing our club its a very close reality now. Can we be a phoenix? If we are liquidated will the team stay..will the manager stay? willwe stay in this division? will we be closed for good? Fuck me this really is scarey shit.
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Only a fool does not know when to hold his tongue.
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RobertT
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« Reply #49 on: Tuesday, October 9, 2007, 09:04:27 » |
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Well this is a new low, I am truly shit scared of losing our club its a very close reality now. Can we be a phoenix? If we are liquidated will the team stay..will the manager stay? willwe stay in this division? will we be closed for good? Fuck me this really is scarey shit. Liquidated = non league about 3 divisions below the League as highest entry point as the League take away the share.
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STFC Bart
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« Reply #50 on: Tuesday, October 9, 2007, 09:07:11 » |
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Lets get the fuckers out NOW!
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TalkTalk
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« Reply #51 on: Tuesday, October 9, 2007, 09:08:08 » |
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If a Liquidator is appointed on a court's Winding Up Order then that is it.
Finished. End of. Completely.
You can't buy, revive or sell a liquidated company, that's the whole point.
The liquidator can keep it trading for a while, but only if he thinks it will produce profit to pay off debts. But he is bound to shut it down eventually.
You can buy assets off of the liquidator (if you can find any). I will have the sign over the TE gate I think.
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ghanimah
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« Reply #52 on: Tuesday, October 9, 2007, 09:11:34 » |
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So 'minor paperwork' was a euphemism for a small bit of paper that looked like a cheque with the words 18 million written on it.
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"We perform the duties of freemen; we must have the privileges of freemen ..."
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Colin Todd
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« Reply #53 on: Tuesday, October 9, 2007, 09:13:37 » |
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So 'minor paperwork' was a euphemism for a small bit of paper that looked like a cheque with the words 18 million written on it. At least that managed to bring a smile to my face
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Luci
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Fatbury's Stalker
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« Reply #54 on: Tuesday, October 9, 2007, 09:14:33 » |
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We all knew "minor paperwork" was bull shit. (Thats not a dig at you btw)
Lies and always lies, we cannot expect anything else.
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juddie
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« Reply #55 on: Tuesday, October 9, 2007, 09:16:34 » |
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There was me looking forward to tonight's game. Such a shame, when finally, after years of cack, we seem to be getting it right off the pitch. This is f*cking awful.
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STFC Bart
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« Reply #56 on: Tuesday, October 9, 2007, 09:20:29 » |
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Where has all the money gone- as if we need to ask
Wjat a bunch of wankers
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le god cuervo
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« Reply #57 on: Tuesday, October 9, 2007, 09:21:58 » |
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£8million is a fucking joke! You can bet it's diamandis jacking up that figure and not SSW. It's his own fault the club is in this much shit for going along with the so called 'advisor' in the first place. Give the club away for free and maintain whatever dignity you may have left.
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Panda Paws
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Arse
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« Reply #58 on: Tuesday, October 9, 2007, 09:24:10 » |
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Where has all the money gone- as if we need to ask
Wjat a bunch of wankers We always used to joke at games that Diamandis was buying a new conservatory with our ticket sales ... I should emphasise the joke bit before I get any calls!!!
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TalkTalk
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« Reply #59 on: Tuesday, October 9, 2007, 09:27:59 » |
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The more I look at this the more worrying it is: -£2.8 Owed to St Modwen -Purchases of stocks/shares £3M -Loan from new investors to cover debts of £3M -Provision for Bill Powers investment 1.2M depending on court judgement -CVA £900,000 - £8M to cover Wills Family Loans -Inland Revenue £1.8M -Day Creditors £1.5M additional funding The CVA aside, it's these two short sentences that scare the willies out of me. HMRC seriously do not like not being paid. That is a huge amount of tax and NI to owe. And if we owe that much to trading creditors they are likely to stop supplying day to day goods to keep the club running. Oh and bang in a Winding Up Petition or two. Now where is that RWE nPower/Palace thread..?
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