why can't we file accounts? (1 Viewer)

Forums New posts
S

spoon

New Member
sorry if this has been covered but I'm confused

although the deadline was a few months ago the accounts overdue for all of the SISU related companies are for the financial year 2011-2012 I think? well before all of this sorry saga, going into admin etc.

so what stops them filing the accounts? or can you not file for a company in admin? or do sisu have all of their accountants tied up in the current goings on?

is the transfer embargo because of the lack of accounts, being in admin or both?

what a mess...
 
sky blue john

sky blue john

Well-Known Member
because Sisu are still doing the okey cokey with them !!!!
put your players in take your players out !!!
that's what its all about !!
 
stupot07

stupot07

Well-Known Member
The accounts can't be submitted because the fate of ltd is yet to be decided and there is too much financial dependencies between sky blues sports and leisure, holdings and ltd, that auditors wouldn't sign off the accounts as a going concern at this time is my understanding.
 
S

skybluericoh

Well-Known Member
Embargo is because of accounts, accounts are down to SISU but some on here will say it's all down to CCC. `same as last year and the year before. In my opinion they re not filed usually as something is not right and the company is still trying to sort out issues within the books. Whatever that maybe you'll have to draw your own conclusions, i know what mine are.
 
T

The Prefect

Active Member
stupot07 said:
The accounts can't be submitted because the fate of ltd is yet to be decided and there is too much financial dependencies between sky blues sports and leisure, holdings and ltd, that auditors wouldn't sign off the accounts as a going concern at this time is my understanding.
Click to expand...

This is true however, the accounts were due to be filed before CCFC went in to administration. The transfer embargo was put in place because the accounts weren't filed.

Quite simply the accounts have to certified by Auditors before they can be filed. It seems that the company's auditors have refused to sign them off as a going concern - which is what happened on previous occasions.

Once the auditors sign the accounts they can be filed.
 
stupot07

stupot07

Well-Known Member
The Prefect said:
This is true however, the accounts were due to be filed before CCFC went in to administration. The transfer embargo was put in place because the accounts weren't filed.

Quite simply the accounts have to certified by Auditors before they can be filed. It seems that the company's auditors have refused to sign them off as a going concern - which is what happened on previous occasions.

Once the auditors sign the accounts they can be filed.
Click to expand...

ACL had already submitted their application to put us in admin before the accounts were due to be submitted though (13th March 2013)?
 
S

skybluericoh

Well-Known Member
stupot07 said:
ACL had already submitted their application to put us in admin before the accounts were due to be submitted though (13th March 2013)?
Click to expand...

Other teams operate in admin and do not have transfer embargoes on them. If the administrator has money he can deal in the transfer market, how many players did pompy sign last season? I'm sure that this is the 3rd year we've been under an embargo, SISU hadn't filed for Admin that far out.

I guess it take time to move assets around so people can't find what you've been up to.
 
T

The Prefect

Active Member
stupot07 said:
ACL had already submitted their application to put us in admin before the accounts were due to be submitted though (13th March 2013)?
Click to expand...

OK, I must be mistaken. I thought ACL applied to the court for third party debt orders in Feb 2013. The move to put the club into receivership (I thought) happened later.

The reason the auditor's might refuse to sign the accounts doesn't really matter. If they're not approved by the auditors they can't be filed.
 
stupot07

stupot07

Well-Known Member
skybluericoh said:
Other teams operate in admin and do not have transfer embargoes on them. If the administrator has money he can deal in the transfer market, how many players did pompy sign last season? I'm sure that this is the 3rd year we've been under an embargo, SISU hadn't filed for Admin that far out.

I guess it take time to move assets around so people can't find what you've been up to.
Click to expand...

2nd year, the time before that was a dispute with Bolton over a loan player (Ward).

Portsmouth had a squad of about 8 first team players.

Did the other teams that went into admin have a complex company structure that we do - ie a company in admin that has the GS and lease but no players?

I'm not making excuses for them just pointing out that it isn't that easy (as OSB has outline) that you just magic up a spreadsheet and send it into the FL and companies house.
 
Nonleagueherewecome

Nonleagueherewecome

Well-Known Member
letsallsingtogether

letsallsingtogether

Well-Known Member
At the end of the day we are owned by a company that deals with money and accounts every day, if they cannot put in the accounts on time they must be pretty shit at their job? or they do it for a reason 3 years running a disgrace they do it so that they don't have to spend any money on players then blame everyone else but themselves....
 
stupot07

stupot07

Well-Known Member
letsallsingtogether said:
At the end of the day we are owned by a company that deals with money and accounts every day, if they cannot put in the accounts on time they must be pretty shit at their job? or they do it for a reason 3 years running a disgrace they do it so that they don't have to spend any money on players then blame everyone else but themselves....
Click to expand...

2 years. .
 
stupot07

stupot07

Well-Known Member
Last edited:
letsallsingtogether

letsallsingtogether

Well-Known Member
Like I said before 3 times doesn't matter who fault it was still a disgrace only managed to file them on time twice!!!
stick up for them all you want they are still useless....................
stupot07 said:
Twice because of accounts.

Once because of a dispute with Bolton over the loan signing of Danny Ward. The fee was to reduce with every minute he played, he got injured after 3/4 games and went back. Boothroyd was manager.
Click to expand...
 
Sky Blues

Sky Blues

Active Member
stupot07 said:
Twice because of accounts.

Once because of a dispute with Bolton over the loan signing of Danny Ward. The fee was to reduce with every minute he played, he got injured after 3/4 games and went back. Boothroyd was manager.
Click to expand...

From: http://www.football.co.uk/coventry_city/city_s_transfer_embargo_finally_lifted_rss1664745.shtml

City's Transfer Embargo Finally Lifted
Published : 19 May 2011
Embargo lifted this morning
Coventry City have had their transfer embargo finally lifted. The club had been placed under a transfer embargo for a second time since transfer embargo's were introduced for firstly failing to agree on monies and not pay for the loan of Danny Ward from Bolton Wanderers and not filing their accounts in time at Companies House. The first part was agreed last week and the club have now supplied interim accounts to the Football League so that the embargo could be finally lifted this morning.
Click to expand...
 
WiganSkyBlue

WiganSkyBlue

Member
hill83 said:
Because we are owned by crooks or retards. Take your pick.
Click to expand...

or upstanding members of the business/football fraternity :(
 
You must log in or register to reply here.

Users who are viewing this thread

Total: 2 (members: 0, guests: 2)
Top