As I love to say "told you so" I did predict this would be the case a couple of weeks back. It's a sad state of affairs that we can predict these things with alarming regularity and speaks volumes
i agree with you rob
sisu seem a bunch of jokers
Clubs Accounts (1 Viewer)
- Thread starter skyblue_rich
- Start date
i agree with you rob
sisu seem a bunch of jokers
oldskyblue58
CCFC Finance Director
To be honest I only believe things at or about CCFC when they actually happen. Less chance of disappointment that way. i am sure things are said with best intentions but this continual failure to meet targets they themselves set erodes confidence.
Company House dont accept any reasons for non filing edgy they just issue a fine which go up to £1500 in the first year and are doubled the second time late
At least things are looking up on the pitch !
Company House dont accept any reasons for non filing edgy they just issue a fine which go up to £1500 in the first year and are doubled the second time late
At least things are looking up on the pitch !
oldskyblue58
CCFC Finance Director
As an informed guess I reckon that the Auditors wont/hadnt sign(ed) their audit report until they are convinced that CCFC can continue in business for at least the next 12 months from now. The directors wouldnt want to have the report say they were not a going concern so they have to have a good plan in place that the auditors believe is achievable plus some financial guarantees. Cant file the accounts without the audit report. Like you say CCFC will have good accounts systems so the actual accounts preparation should have been done ages ago, but the regulatory requirements for financial statements deal with events after the Balance sheet date not just the year leading up to it.
TheRoyalScam
Well-Known Member
So are all of us who have smelled the coffee agreed then? There never was a meeting with the council to discuss buying the Ricoh, our CEO said we posted the club's accounts a fortnight ago yet they're not at Companies House, there's a possibility that they haven't been sent because no Chartered Accountant will sign them off, the transfer embargo is still in place, and Brody thinks that getting promoted in two seasons is possible and in one season would be a bonus?
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We'll_live_and_die
Super Moderator
Which is why I can't understand everyone's optimism. Sexy Football does not keep the club afloat.
TheRoyalScam
Well-Known Member
Perhaps I should start a 'Who's woken up and smelled the coffee?' thread to get a true picture.
We'll_live_and_die
Super Moderator
It'd need a poll.
edgy
Well-Known Member
Nor can I Rich. Whilst SISU are at the helm there is nocause for optimism. We all know deep down that Thorn will be undermined nextseason. He will have the rugged pulled from under him – no loan signings, bestplayers sold in January etc etc. They’ve done it before and will do it again. Thenwhen we struggle after xmas, Thorn will be made the scapegoat and the wholehorrid cycle will begin again.
so what are we going to do about it guys
get a petition we want the hoff
lol
what do you think???
We'll_live_and_die
Super Moderator
I think we do nothing but continue to show our support. We should make match days fun events and not protests. We should not start a petition. SISU out Hoff in. Then what happens when Hoff doesn't buy and SISU pull out anyway..........Administration.
Play up Sky Blues Support the club and maybe some love will be returned.
Play up Sky Blues Support the club and maybe some love will be returned.
give it to sisu
im being desperate here as i cant see sisu pulling out
they would need some unbeliable offer to buy the club
i wish something would happen with gary hoffman
if its not going to happen ever then let us know
nearly 2 weeks since our season ended
and nothings changed or we just have not heard about it lol
i mean the transfer embargo was supposed to be lifted this week
paul clouting said last week!!
ajsccfc
Well-Known Member
But giving it to SISU means they'd just tear it up without reading what they already know, that they're not popular. Unless there's something concrete involving an actual plan of action from Hoffman and co. I wouldn't put much hope in it. All we've had is the Telegraph's huge 'exclusive', footage of Hoffman talking to some chaps in a pub, and Ranson placating us about what a great chairman he would have been if money was no object. I'd say we're stuck with what we've got, so let's get behind it and help the club that'll be here long after all of them and us have gone.
that footage wasnt in telegraph it was on here wasnt it
sorry i missed it
well what would like to see happen
i will always support cov bad times and good!!!
skyblue_rich
New Member
Interesting to see the embargo has been lifted, hopefully means someone has put some money into the club.
kg82
Well-Known Member
Couldn't agree more. There's nothing we do that would make a difference and if we're in so much trouble then it's important we act as a 12th man and get behind Thorn and the team.
sotv1987
Member
The accounts have been filed and the embargo lifted, so you can all calm down.
I've been on it before and here I go again:
You really - no REALLY - cannot put the entire blame for the last three years of failure solely on SISU. You need to understand what a hedge fund is and to accept the fact that they mean business 100%. They are not sugar daddys or owners with personal wealth who can afford to spend money for fun. In fact a hedge fund administer other peoples money and they are trusted to make their investments pay dividend.
Somehow they got involved with Ranson (through other ventures) and HE must have presented a business plan and an investment scheme that was acceptable to SISU. It cannot have been the other way around, as a hedge fund does not understand the actual business they invest in - all they understand is reading a business plan and if they trust the presenter they will consider making the investment.
So Ranson sold the idea to SISU - he was the key to the take over three years ago. And he accepted to put his own money into it, so if the project failed he himself would lose a considerable amount.
That kind of commitment is required by the investors (the hedge fund) as it is a great way to make sure Ranson would work to all of his abillities to achieve success.
And naturally SISU put him in charge (as they trusted him) to run the show.
But from SISU's perspective Ransons businessplan didn't deliver the results. Ranson spend money money and/or earned less than predicted. As a result players were sold and replaced by free's or cheap's. That didn't cover all corners and SISU were forced to find extra money, which cannot have been easy in the middle of a huge worldwide financial crisis!
The trust between SISU and Ranson broke down and he eventually lost the backing. SISU took over and refused to put in any more making it impossible for Ranson to stay on. Finally he gave up and the new board emerged.
SISU have stayed in 'the shadows' untill Ranson left. There is absolutely nothing devious about that. They are financial investors and their job is not to be in the spotlight. They agree to a business plan, place their bet and stay out of focus. Think of SISU - then think of your own bank manager. They behave pretty much the same.
As the financial report has been filed, the club must have presented a interim cash flow projection that satiesfied the auditors. So - in theory - we should be safe from administration for the next year. SISU must have come up with more money - either from their own projects, or through new investors. We will probably never know, and we really shouldn't care.
The ghost of Hoffmann and Ranson will for sure haunt us for some time as a many still see them as the hero's and not the villains hoping they will be back and take over the shop.
I think we need to actually pay attention when SISU say the club is not for sale. They pretty much mean that they will not leave without their entire investments plus a reasonable interest to satisfy their investors. This means only accepting an offer they cannot refuse.
I also believe that they are open for any new investors who will bring in new cash - especially if this means the club can buy the stadium. But the hard part will be to distribute shares for the money ... can they agree on the share price. I think that will be very, very difficult.
I am hopeful about the future. What really matters is the football. We have seen what a positive manager can do and what our players are capable of. Westwood and King are probably gone at the start of next season, but luckily we are still allowed to field 11 players and I am sure some of them will shine and give us great moments to cherish.
I've been on it before and here I go again:
You really - no REALLY - cannot put the entire blame for the last three years of failure solely on SISU. You need to understand what a hedge fund is and to accept the fact that they mean business 100%. They are not sugar daddys or owners with personal wealth who can afford to spend money for fun. In fact a hedge fund administer other peoples money and they are trusted to make their investments pay dividend.
Somehow they got involved with Ranson (through other ventures) and HE must have presented a business plan and an investment scheme that was acceptable to SISU. It cannot have been the other way around, as a hedge fund does not understand the actual business they invest in - all they understand is reading a business plan and if they trust the presenter they will consider making the investment.
So Ranson sold the idea to SISU - he was the key to the take over three years ago. And he accepted to put his own money into it, so if the project failed he himself would lose a considerable amount.
That kind of commitment is required by the investors (the hedge fund) as it is a great way to make sure Ranson would work to all of his abillities to achieve success.
And naturally SISU put him in charge (as they trusted him) to run the show.
But from SISU's perspective Ransons businessplan didn't deliver the results. Ranson spend money money and/or earned less than predicted. As a result players were sold and replaced by free's or cheap's. That didn't cover all corners and SISU were forced to find extra money, which cannot have been easy in the middle of a huge worldwide financial crisis!
The trust between SISU and Ranson broke down and he eventually lost the backing. SISU took over and refused to put in any more making it impossible for Ranson to stay on. Finally he gave up and the new board emerged.
SISU have stayed in 'the shadows' untill Ranson left. There is absolutely nothing devious about that. They are financial investors and their job is not to be in the spotlight. They agree to a business plan, place their bet and stay out of focus. Think of SISU - then think of your own bank manager. They behave pretty much the same.
As the financial report has been filed, the club must have presented a interim cash flow projection that satiesfied the auditors. So - in theory - we should be safe from administration for the next year. SISU must have come up with more money - either from their own projects, or through new investors. We will probably never know, and we really shouldn't care.
The ghost of Hoffmann and Ranson will for sure haunt us for some time as a many still see them as the hero's and not the villains hoping they will be back and take over the shop.
I think we need to actually pay attention when SISU say the club is not for sale. They pretty much mean that they will not leave without their entire investments plus a reasonable interest to satisfy their investors. This means only accepting an offer they cannot refuse.
I also believe that they are open for any new investors who will bring in new cash - especially if this means the club can buy the stadium. But the hard part will be to distribute shares for the money ... can they agree on the share price. I think that will be very, very difficult.
I am hopeful about the future. What really matters is the football. We have seen what a positive manager can do and what our players are capable of. Westwood and King are probably gone at the start of next season, but luckily we are still allowed to field 11 players and I am sure some of them will shine and give us great moments to cherish.
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mattylad
Member
Excellent post, well said.
kg82
Well-Known Member
I love how a bit of positivity comes out and the sarcasm does too!! Have you ever watched Hitchikers guide to the galaxy?!
kg82
Well-Known Member
Yes, bingo!!