why can't we file accounts? (2 Viewers)

spoon · Aug 1, 2013

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 · Aug 1, 2013

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 · Aug 1, 2013

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.

skybluericoh · Aug 1, 2013

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.

The Prefect · Aug 1, 2013

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.

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 · Aug 1, 2013

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.

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

skybluericoh · Aug 1, 2013

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)?

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.

hill83 · Aug 1, 2013

Because we are owned by crooks or retards. Take your pick.

The Prefect · Aug 1, 2013

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)?

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 · Aug 1, 2013

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.

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 · Aug 1, 2013

hill83 said:
Because we are owned by crooks or retards. Take your pick.

A little from column A and a little from column B.

letsallsingtogether · Aug 1, 2013

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....

deanocity3 · Aug 1, 2013

joy only has time to file her nails not the accounts

stupot07 · Aug 1, 2013

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....

2 years. .

letsallsingtogether · Aug 1, 2013

3 times I think you will find

Sky Blues · Aug 1, 2013

stupot07 said:
2 years. .

3 years: 2011, 2012 & 2013.

stupot07 · Aug 1, 2013

letsallsingtogether said:
3 times I think you will find

Twice because of accounts, and you specifically said not submitting 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.

I stand corrected: 2011 accounts and danny ward dispute.

http://www.coventrytelegraph.net/sp...s/coventry-city-transfer-embargo-soon-3046455

georgehudson · Aug 1, 2013

way overdue for seppala to explain her motives,
way overdue for the FL to act responsibly

letsallsingtogether · Aug 1, 2013

Yes 3 out of 5 suppose that not too bad got it right twice

Sky Blues said:
3 years: 2011, 2012 & 2013.

letsallsingtogether · Aug 1, 2013

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.

Sky Blues · Aug 1, 2013

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.

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.

stupot07 · Aug 1, 2013

letsallsingtogether said:
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....................

They are useless.

WiganSkyBlue · Aug 2, 2013

hill83 said:
Because we are owned by crooks or retards. Take your pick.

or upstanding members of the business/football fraternity

SonOfSnoz · Aug 2, 2013

Cos all would be exposed at CCFC!

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