Accounts Filed? (1 Viewer)

Nick

Administrator

• Mar 1, 2019

• #1

SKY BLUE SPORTS & LEISURE LIMITED - Filing history (free information from Companies House)

Looks like this has been updated today.

Obviously not Otium but will be interesting to see if they follow shortly.

I am pretty sure a few people were banking on them not being able to be filed as well.

 

chiefdave

Well-Known Member

• Mar 1, 2019

• #2

Don't see how Otium can file until the stadium is sorted. Who is going to sign them off as a going concern?

 

oldskyblue58

CCFC Finance Director

• Mar 1, 2019

• #3

Sbs&l is a set of group accounts so will include everything in the otium accounts to be able to be filed. Therefore it's reasonable to assume otium accounts will appear soon also.

How that is possible we will have to wait and see. How do the directors and auditors get round the going concern issue which applies to both companies ?

 

Nick

Administrator

• Mar 1, 2019

• #4

I bet that will have scuppered a few plans!

 

fernandopartridge

Well-Known Member

• Mar 1, 2019

• #5

They might have an agreement in principle to play elsewhere. You did say they'd have a plan osb

 

oldskyblue58

CCFC Finance Director

• Mar 1, 2019

• #6

They might fp but who knows for now. Glad I am not the auditor on this one from what we know of what is going on

Content to wait to see the financials before I comment further.... although I am curious as to how they have got round it if no deal available at the Ricoh

 

fernandopartridge

Well-Known Member

• Mar 1, 2019

• #7

oldskyblue58 said:

They might fp but who knows for now. Glad I am not the auditor on this one from what we know of what is going on

Content to wait to see the financials before I comment further.... although I am curious as to how they have got round it if no deal available at the Ricoh

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Yeah, even with an agreement to play elsewhere surely it's still heavily caveated. Could they file accounts with a reasonable expectation of remaining at the Ricoh but no actual contract?

 

oldskyblue58

CCFC Finance Director

• Mar 1, 2019

• #8

Possibly if they could show substantive positive talks were taking place. But we are told none are taking place (apart from fans rumours).

Another possibility is that sisu have said legal actions will cease or will cease after supreme court judgement.

Of course there is the possibility of ground share. But surely the efl would have to be involved in that.

Got no choice but to wait see what is said.

 

chiefdave

Well-Known Member

• Mar 1, 2019

• #9

OSB what is classed as a going concern? Could they say no club = no costs so the company itself could continue to exist for no other reason than to continue legal action?

 

oldskyblue58

CCFC Finance Director

• Mar 1, 2019

• #10

The auditors have surely got to see the audit as high risk unless there is evidence presented to them and examined to say otherwise. They have to take the risks into account in reaching their opinion. But before that the directors are responsible for producing the accounts that the auditors report an opinion on

 

oldskyblue58

CCFC Finance Director

• Mar 1, 2019

• #11

The ability to trade for a period of at least 12mths after the date the reports are signed essentially. If there is no deal at the Ricoh available or a ground share then the club can not trade. The golden share is essentially the ability to trade as a football club by fulfilling fixtures CD

As far as sbs&l is concerned then if otium not viable then neither is sbs&l

 

Last edited: Mar 1, 2019

Nick

Administrator

• Mar 1, 2019

• #12

Maybe they have gone old school and just handed them a brown envelope with a wink and a nod?

 

oldskyblue58

CCFC Finance Director

• Mar 1, 2019

• #13

"You might think that but I couldn't possibly comment" yes minister I believe once said. More to lose than gain for sbs&l auditors in doing something silly like that.

Perhaps the audit report qualifies the accounts on the going concern basis.

 

oldskyblue58

CCFC Finance Director

• Mar 2, 2019

• #14

Accounts are available at companies house to download for sbs&l but not yet for otium. I will go through later but it seems to me there must be a plan B because the Ricoh problem is mentioned by both directors and auditors but not in great detail. They focus on the usual funding caveats

 

SBAndy

Well-Known Member

• Mar 2, 2019

• #15

There is talk within the notes around Going Concern basis that the directors are confident of a deal to play next season, but are also looking at a range of options. Clear that they are looking further afield than Coventry to me, going against Fisher’s previous comments.

 

Captain Dart

Well-Known Member

• Mar 2, 2019

• #16

SBAndy said:

There is talk within the notes around Going Concern basis that the directors are confident of a deal to play next season, but are also looking at a range of options. Clear that they are looking further afield than Coventry to me, going against Fisher’s previous comments.

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When ever did his rhetoric and the actions taken actually agree?

 

Nick

Administrator

• Mar 2, 2019

• #17

Did anybody actually think they wouldn't be trying and looking for other options as backup?

Seems like a few people had their hopes on the accounts not being filed and no plan b (regardless of how crap that might be).

As I said, need to be careful about the Haskell approach in case of what happens if it back fires.

Will be interested to see the figures though when they go public!

 

Last edited: Mar 2, 2019

M

Magwitch

Well-Known Member

• Mar 2, 2019

• #18

There clearly has to be a back up or plan B call it what you like. Assuming where we are now is plan A. I can’t see that changing from the Wasps end until after this appeal hearing atleast.

 

ceetee

Well-Known Member

• Mar 2, 2019

• #19

Captain Dart said:

When ever did his rhetoric and the actions taken actually agree?

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Well I learnt very early that the default reaction is not to believe him, but to answer your specific question, Sixfields