STATEMENT OF AFFAIRS?

Yellows · Post by **Yellows** » 28 Sep 2015, 11:15

With all the changes in Shareholding, Directors, Managers, Staff over the past few months in both Plainmoor and Torquay Companies together with the decisions being made by the current Board of Directors it would be prudent to have a Statement of Affairs produce for before handover to Bill Phillips and the Board and the Current Board.

I would imagine the Balance sheet would look good (even taking into account the trading loses) because I understand Thea wrote of all of her loans and well as the other Directors at that time. The Cash position again should be positive because of the cash injection of the Current Board.
If this is published at least we as Supporters could form a judgement on the decisions made and being made for example putting Hargreaves and Hodges on Garden Leave and employing Cox, employing Dean Edwards as Director of Football, closing the Youth Academy will prove to be correct.

I donâ€™t mean to be disrespectful to the Board in anyway but doing this will ensure the ongoing support from all. I also have the feeling that the position is somewhat better than being portrayed and the current situation is in the main down to a lack of further investment which is a different matter. :rules:

RichyMills · Post by **RichyMills** » 28 Sep 2015, 12:11

Good point and a nice idea but I can't see it happening. They're under no obligation to produce such a report and will be hoping to manage any criticism as quietly as possible to give the manager a fighting chance.

I'd imagine also that if the former employees do all settle up with the club then their will be clauses to say that both parties don't disclose details.

We'd all love to know more about how our clubs are run but not many boards want to disclose how bad things get as it might affect gates and also attract attention from the league who they had to give assurances to not so long ago.

Re: the balance sheet and situation when they took over - didn't one of the directors (Phillips or Edwards) say in the Herald recently that they thought they were taking on a debt free club but once they were in position they found it wasn't the case?

Yellows · Post by **Yellows** » 28 Sep 2015, 12:56

I have done a few calculation and I firmly believe it would be in everybody's interest to get it this Statement out ASAP especially now we have appointed a new Manager. Transparency is not a bad thing for us given what has already been said about our financial position. I believe we will all be pleasantly surprised. It will confirm that the TUFC position at the moment is purely down to a lack of investment now and nothing brought forward from either Thea or for that Bill Phillips and Co.

SenorDingDong · Post by **SenorDingDong** » 28 Sep 2015, 13:15

Yells wrote:I have done a few calculation and I firmly believe it would be in everybody's interest to get it this Statement out ASAP especially now we have appointed a new Manager. Transparency is not a bad thing for us given what has already been said about our financial position. I believe we will all be pleasantly surprised. It will confirm that the TUFC position at the moment is purely down to a lack of investment now and nothing brought forward from either Thea or for that Bill Phillips and Co.

It's entirely due to Thea, Bill Phillips and Co. Hello Mushroom.

Yellows · Post by **Yellows** » 28 Sep 2015, 13:28

Well what ever happened right or wrong Thea paid for and wrote off her Loans so if that is the case and the new Board has put money in and not wasted it since things should be looking pretty good?. Why not tell everyone and lift the dark cloud?

RichyMills · Post by **RichyMills** » 28 Sep 2015, 13:50

Have the new board put money in? I didn't think they had done, I thought they'd made a statement to say they wouldn't be doing - there plan was to make the club sustainable

taxilady · Post by **taxilady** » 28 Sep 2015, 14:00

amazing how much information all our new posters want isn't it ???

Dave_Pougher · Post by **Dave_Pougher** » 28 Sep 2015, 14:12

Isnt going to happen,although the question is reasonable enough. I would like to know however the difference between what Thea kindly left and what Bill Phillips sold.

Wholeheartedly agree with what taxi lady says and would like to add to the same, s urely the people now in charge are doing their absolute best, so you can ask for no more. I'm sure if you "new guys" can help then they would welcome your positive assistance.

Yellows · Post by **Yellows** » 28 Sep 2015, 14:12

Whether they have put money in or not at least we will have the true financial position and not hearsay. I believe that it is fair and reasonable request. I know that the League demands for quarterly financial returns. I reiterate the balance sheet will look good if Thea has written of the Loans and cashflow will reflect post Thea trading and probably neutral if the new Board has put money in.

Jerry · Post by **Jerry** » 28 Sep 2015, 15:29

Yells wrote:Whether they have put money in or not at least we will have the true financial position and not hearsay. I believe that it is fair and reasonable request. I know that the League demands for quarterly financial returns. I reiterate the balance sheet will look good if Thea has written of the Loans and cashflow will reflect post Thea trading and probably neutral if the new Board has put money in.

Get yourself along to the Fans Forum on Wednesday and ask them in person.

If you need directions to Plainmoor just ask

Yellows · Post by **Yellows** » 28 Sep 2015, 16:01

Dave_Pougher wrote:Isnt going to happen,although the question is reasonable enough. I would like to know however the difference between what Thea kindly left and what Bill Phillips sold.

Wholeheartedly agree with what taxi lady says and would like to add to the same, s urely the people now in charge are doing their absolute best, so you can ask for no more. I'm sure if you "new guys" can help then they would welcome your positive assistance.

That is the point the Audit trail from Thea > Philips > New Board > A. N Other. The important thing is to keep things up to date and transparent, bit like a Public Company only this is our football Club who is and will continue to be relying on Supporters going forward. As I said the balance sheet has to be good news not sure about the cashflow. Given the adverse publicity by Deano etc surely with the new Manager in place now is the time to give us all a shot in the arm?

Perhaps then we can get back to the Football and staying in this League :rules: :rules: :rules:

Added in 18 minutes 43 seconds:

Jerry wrote:
Get yourself along to the Fans Forum on Wednesday and ask them in person.

If you need directions to Plainmoor just ask

PhilGull · Post by **PhilGull** » 28 Sep 2015, 16:03

Yells wrote: That is the point the Audit trail from Thea > Philips > New Board > A. N Other. The important thing is to keep things up to date and transparent, bit like a Public Company only this is our football Club who is and will continue to be relying on Supporters going forward. As I said the balance sheet has to be good news not sure about the cashflow. Given the adverse publicity by Deano etc surely with the new Manager in place now is the time to give us all a shot in the arm? Perhaps then we can get back to the Football and staying in this League :rules: :rules: :rules:

Added in 18 minutes 43 seconds:

Stop fishing around here for info, show the board you have the cash and I'm sure they show you what you want to know, then you can make your offer to buy the club.

RichyMills · Post by **RichyMills** » 28 Sep 2015, 16:07

You think someone wants to buy the club?

Yellows · Post by **Yellows** » 28 Sep 2015, 16:34

Good grief what an attitude, so defensive ask a couple of legitimate questions and then accused of wanting to buy the Club! sorry I could not afford the operating costs I think!

SenorDingDong · Post by **SenorDingDong** » 28 Sep 2015, 17:30

RichyMills wrote:You think someone wants to buy the club?

He's very clearly the same poster as Mushroom and the all the rest, stirring things up and trying to get the board to reveal things and spread false rumours.

Torquay United Fans Forum