What we saying today then

[RobertT]

I'm no expert, but generally disposal of assets is a balance sheet transaction, not one that hits the profit and loss account.

Would 2019 coincide with the Highworth training ground? Could be something to do with that. £600k is a lot of money to "lose".

Without full details it's difficult to tell, but I'd hypothesise that something was sold for less than book value. Originally the sale price could've been accounted for as income, ignoring the loss, but has since (correctly) been restated as a cost due to it being sold for less than it was acquired.

Did the club by the land for the training ground, or did Power?

That's what I'd presume - the correction is to ensure the Accounts are as accurate as possible given what would be available to the new owner to identify any issues.  Something was booked wrong in 2019 (very wrong) and it's clearly obvious given the info that had to be disclosed, so it has now been corrected while they have the chance.  Same goes for the Transfer fee received which was booked as a Directors Loan account transaction.  You do not accidently get that wrong, but you can correct it.

[Ardiles]

I'm no expert, but generally disposal of assets is a balance sheet transaction, not one that hits the profit and loss account.

To a point.  But when the carrying value of the asset being disposed differs from the value realised on disposal, it will generate a profit/(loss) on disposal that would have to pass through the P&L.  What seems to have happened here, though - and this is such a basic error that it's difficult to believe those involved weren't incompetent or dishonest - is the P&L effect was posted through the Revenue line.  That's an accounting howler.  Not surprised it had to be corrected/restated.

[fittons_coaching_badge]

I'm no expert, but generally disposal of assets is a balance sheet transaction, not one that hits the profit and loss account.

Any profit or loss on the disposal would go to the P&L

[Jimmy HaveHave]

The clock is ticking

[TheDukeOfBanbury]

The clock is ticking

Just need the deal ratified and announcements will be made.
Fingers crossed the Manager confirmed this week.

[Jimmy HaveHave]

Let's hope so Dukey whoever we have lined up!

[Bob's Orange]

Just need the deal ratified and announcements will be made.
Fingers crossed the Manager confirmed this week.

I assume given the timing its likely to be an unemployed manager and not someone in work like Cooper or Flynn as has been reported/rumoured?

[Nemo]

A very good ninety minutes to bury news coming up. At least one football club will sneak something out.

[TheDukeOfBanbury]

I assume given the timing its likely to be an unemployed manager and not someone in work like Cooper or Flynn as has been reported/rumoured?

Definitely.

[Jimmy HaveHave]

Ricketts maybe

[Bob's Orange]

Definitely.

Cheers Duke.

[TheDukeOfBanbury]

Cheers Duke.

However you look at it we are hopelessly not ready for the season.
Need to get this deal official, approved and then make the announcements.

[Batch]

However you look at it we are hopelessly not ready for the season.
Need to get this deal official, approved and then make the announcements.

Lets hope its day(s) not weeks then

[kaufman]

Given that the trust seem to think any decisions on staff appointments can’t be made until the deal is complete, let’s hope if the manager is announced this week, that’ll mean the deal for the club will also be completed.
Ricketts is a good shout. My brain hurts trying to figure out who Clem would want as boss.

[The Artist Formerly Known as Audrey]

Somebody with Caddis as assistant.