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Author Topic: Adver News: Fitton confirms accounts are overdue  (Read 3917 times)
News Monkey

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« on: Friday, May 25, 2012, 07:00:04 »

Fitton confirms accounts are overdue
           


  FORMER Swindon Town chairman Andrew Fitton has stressed that there is nothing sinister going on behind the scenes at the County Ground after it emerged that the club’s holding company’s accounts are almost three months overdue.

           

http://www.thisisswindontownfc.co.uk/news/headlines/9726496.Fitton_confirms_accounts_are_overdue/?ref=rss
           
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« Reply #1 on: Friday, May 25, 2012, 07:50:22 »

Coventry and Birmingham got hit with Transfer embargoes for the same thing. The football league dont appear to have deemed our situation worthy of one, so it doesn't appear to be anything worth worrying about.
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thedarkprince

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« Reply #2 on: Friday, May 25, 2012, 08:03:40 »

Coventry and Birmingham got hit with Transfer embargoes for the same thing. The football league dont appear to have deemed our situation worthy of one, so it doesn't appear to be anything worth worrying about.

...yet
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Peter Venkman
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« Reply #3 on: Friday, May 25, 2012, 08:06:53 »

A bit OT on this but I see Man City released their accounts publically and have lost a staggering £197m last season and that is not taking into account buying Sergio Aguero, Gael Clichy and Samir Nasri for a combined fee of around £70m.
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« Reply #4 on: Friday, May 25, 2012, 08:09:51 »

What is the requirement for publishing accounts for de-listed companies?
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pauld
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« Reply #5 on: Friday, May 25, 2012, 08:11:30 »

Coventry and Birmingham got hit with Transfer embargoes for the same thing. The football league dont appear to have deemed our situation worthy of one, so it doesn't appear to be anything worth worrying about.
Different situation. This story is about the Holding Company accounts (the company which owns the football club and via which the major shareholders exercise their ownership, make their investments into the club etc) not the club accounts. But it's still a bit of summat and nowt - the threat to de-list is more of a reminder letter than as dramatic as the story makes it sound.
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« Reply #6 on: Friday, May 25, 2012, 08:20:03 »

So its more of a red letter than a collection agency letter?
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« Reply #7 on: Friday, May 25, 2012, 08:22:51 »

Quote
Such movement of shareholding could be a precursor to new money in the football club, but Fitton would not be drawn on the subject.

I think I remember somebody (Wray?) saying the board are still looking for additional investment, mainly to help with funding of the stadium redevelopment. Perhaps they have found it?
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STFC4LIFE
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« Reply #8 on: Friday, May 25, 2012, 08:29:47 »

Fuck this, I'm getting my orange hat out and walking down the back of the Arkells.
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otanswell

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« Reply #9 on: Friday, May 25, 2012, 09:05:55 »

It's all a front for money laundering Cheesy
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Simon Pieman
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« Reply #10 on: Friday, May 25, 2012, 09:09:31 »

What is the requirement for publishing accounts for de-listed companies?

They have to file accounts with the 9 months from the accounting reference date (the year end date in this case). This won't have to include a profit and loss account - just the director report, balance sheet and minimal disclosure notes.
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ghanimah

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« Reply #11 on: Friday, May 25, 2012, 10:12:03 »

Different situation. This story is about the Holding Company accounts (the company which owns the football club and via which the major shareholders exercise their ownership, make their investments into the club etc) not the club accounts. But it's still a bit of summat and nowt - the threat to de-list is more of a reminder letter than as dramatic as the story makes it sound.

Given our history it's understandable the nervousness. But as you say is much ado about nothing. I've given in late accounts for my company a few times for various reasons *shrugs shoulders*
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« Reply #12 on: Friday, May 25, 2012, 11:21:28 »

Given our history it's understandable the nervousness. But as you say is much ado about nothing.

Hopefully so! The reference to movement of shares is interesting, hopefully in a good way. But no cause for concern yet.

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« Reply #13 on: Friday, May 25, 2012, 11:36:29 »

I wonder if it has anything to do with the ground redevelopment on the horizon and maybe creating a new company to manage the stadium but that comany would need some sort of sareholding in the FC perhaps by a development company
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TheDukeOfBanbury

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« Reply #14 on: Friday, May 25, 2012, 12:37:42 »

Different situation. This story is about the Holding Company accounts (the company which owns the football club and via which the major shareholders exercise their ownership, make their investments into the club etc) not the club accounts. But it's still a bit of summat and nowt - the threat to de-list is more of a reminder letter than as dramatic as the story makes it sound.

Shall we go again my Lord ? Wink
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