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Clubs Accounts (1 Viewer)

  • Thread starter skyblue_rich
  • Start date May 14, 2011
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paul1978

New Member
  • May 18, 2011
  • #36
rob9872 said:
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
Click to expand...

i agree with you rob
sisu seem a bunch of jokers
 

edgy

Well-Known Member
  • May 18, 2011
  • #37
What are valid reasons not to file your accounts on time?

Is one, to give you extra time to fiddle them?
 

rob9872

Well-Known Member
  • May 18, 2011
  • #38
Perhaps they simply want to bury it by submitting on a bad news or good news day
 

oldskyblue58

CCFC Finance Director
  • May 18, 2011
  • #39
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 !
 

edgy

Well-Known Member
  • May 18, 2011
  • #40
I wasn’t suggesting that CH do allow excuses. I can’t thinkof any legitimate reason why SISU would delay filing them. What benefits dothey get for holding them back? Surely they are ready, as they should be a truereflection of what’s happened in the last financial year.
 

oldskyblue58

CCFC Finance Director
  • May 18, 2011
  • #41
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
  • May 18, 2011
  • #42
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?
 
Last edited: May 18, 2011

edgy

Well-Known Member
  • May 18, 2011
  • #43
When you put all the little pieces of crap together, that we are fed, you get one big steaming pile of bullshit.
 

We'll_live_and_die

Super Moderator
  • May 18, 2011
  • #44
edgy said:
When you put all the little pieces of crap together, that we are fed, you get one big steaming pile of bullshit.
Click to expand...

Which is why I can't understand everyone's optimism. Sexy Football does not keep the club afloat.
 

TheRoyalScam

Well-Known Member
  • May 18, 2011
  • #45
Rich said:
Which is why I can't understand everyone's optimism. Sexy Football does not keep the club afloat.
Click to expand...

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
  • May 18, 2011
  • #46
It'd need a poll.
 

edgy

Well-Known Member
  • May 18, 2011
  • #47
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.
 
P

paul1978

New Member
  • May 18, 2011
  • #48
edgy said:
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.
Click to expand...

so what are we going to do about it guys
get a petition we want the hoff
lol
what do you think???
 

ajsccfc

Well-Known Member
  • May 18, 2011
  • #49
Who would you give the petition to?
 

We'll_live_and_die

Super Moderator
  • May 18, 2011
  • #50
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.
 
P

paul1978

New Member
  • May 18, 2011
  • #51
ajsccfc said:
Who would you give the petition to?
Click to expand...

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
  • May 18, 2011
  • #52
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.
 
P

paul1978

New Member
  • May 18, 2011
  • #53
ajsccfc said:
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.
Click to expand...

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!!!
 
S

skyblue_rich

New Member
  • May 19, 2011
  • #54
Interesting to see the embargo has been lifted, hopefully means someone has put some money into the club.
 

edgy

Well-Known Member
  • May 19, 2011
  • #55
or they are now ready for admin or a sale.....
 

kg82

Well-Known Member
  • May 19, 2011
  • #56
ajsccfc said:
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.
Click to expand...

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
  • May 19, 2011
  • #57
paul1978 said:
that footage wasnt in telegraph it was on here wasnt it
sorry i missed it

And me, can somebody post it again!!!!
Click to expand...
 

mattylad

Member
  • May 19, 2011
  • #58
And yet the accounts are still not online so how can the transfer embargo be lifted, perhaps the FA are lying as well
 
C

crowsnest

Well-Known Member
  • May 19, 2011
  • #59
The accounts have to be given to the Football League.

Companies House can be done later.
 
G

Godiva

Well-Known Member
  • May 19, 2011
  • #60
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.
 
Last edited: May 19, 2011
S

smileycov

Facebook User
  • May 19, 2011
  • #61
Makes it all seem positive.....you sure your not working for sisu LOL :claping hands:
 

mattylad

Member
  • May 19, 2011
  • #62
Godiva said:
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.
Click to expand...

Excellent post, well said.
 

edgy

Well-Known Member
  • May 19, 2011
  • #63
Thats that then. I'll order the open top bus for next May. :laugh:
 

kg82

Well-Known Member
  • May 19, 2011
  • #64
edgy said:
Thats that then. I'll order the open top bus for next May. :laugh:
Click to expand...

I love how a bit of positivity comes out and the sarcasm does too!! Have you ever watched Hitchikers guide to the galaxy?!
 

edgy

Well-Known Member
  • May 19, 2011
  • #65
 
P

paul1978

New Member
  • May 19, 2011
  • #66
mattylad said:
Excellent post, well said.
Click to expand...


yes i agree excellent post!!!
 

kg82

Well-Known Member
  • May 19, 2011
  • #67
edgy said:
Click to expand...

Yes, bingo!!
 
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