STATEMENT OF AFFAIRS?

Yellows · Post by **Yellows** » 30 Sep 2015, 09:29

Scott Brehaut wrote:
Accounts will be produced within the timeframe required by the usual laws and regulations.
Meanwhile, the chairman and chief exec have stated that the club is not about to go into administration.

Given that they have issued that statement, if people don't believe that, why would they suddenly then also believe a "statement of affairs".

Personally, I'd rather they got on with the pressing issues surrounding the club at the moment, instead of spending time on things like this.

Added in 1 minute 59 seconds:
The clubs accounts are published on Companies House.

They are produced as and when required by law. Why should the Board waste valuable time produced ad-hoc stuff like this when there are more pressing issues?

The Accounts I believe they must be filed within 9 Months of the year end which is a bit like "Bolting the Stable Door after the Horse has Bolted" in this instance. Given the well publicised Debt crisis a Statement Of Affairs Pre and Post Thea which should be good and will benefit the Club, anyway I think I have made my point. :rules: :rules: :rules:

Post by **Scott Brehaut** » 30 Sep 2015, 11:03

You're right there - nobody has been left in any doubt what it is that you want to see.

taxilady · Post by **taxilady** » 30 Sep 2015, 11:05

you forgot :rules: :rules: :rules: Scott !

Post by **Scott Brehaut** » 30 Sep 2015, 11:08

taxilady wrote:you forgot :rules: :rules: :rules: Scott !

Indeed.

In fact if he/she read the :rules: he/she would know that they were asking for something of which there is no obligation to produce and which would waste precious time and effort when there are far more pressing concerns.

There have been statements about the financial situation - that is good enough for me, for now.

Yellows · Post by **Yellows** » 30 Sep 2015, 13:01

Scott Brehaut wrote: Indeed.

In fact if he/she read the :rules: he/she would know that they were asking for something of which there is no obligation to produce and which would waste precious time and effort when there are far more pressing concerns.

There have been statements about the financial situation - that is good enough for me, for now.

Please let me know which ones it might be good enough for me

.................... :rules: :rules: :rules:

Post by **Scott Brehaut** » 30 Sep 2015, 13:25

Yells wrote: Please let me know which ones it might be good enough for me .................... :rules: :rules: :rules:

http://www.bbc.co.uk/sport/0/football/34314087

http://www.torquayunited.com/news/artic ... 97878.aspx

westyorkshiregull · Post by **westyorkshiregull** » 01 Oct 2015, 17:42

taxilady wrote:or Dear Sirs, we appreciate that you were the only people to come up with some dosh to save our beloved Club from imminent closure. We appreciate that you have had a lot to do that has necessitated most of you putting many many hours in to sorting out the immediate chaos; but we're nosey little oiks, & we want you to stop doing whatever important thing it is that you were going to do today to try & keep our club solvent & to sit down & do an immediate balance sheet so that we can pick it to pieces & further try to discredit you to the people of Torbay. We want to know this long before any official bodies like the Inland Revenue require you to do this.
And, by the way, it's not only the Sirs; we have ladies running this Club as well these days.

Have a little patience people, this Club is going to take a while to sort out.

couldn't agree more

KeithMalone · Post by **KeithMalone** » 01 Oct 2015, 18:02

As a qualified accountant I can tell you there is no need for this. To produce this would cost the club money (which by all accounts (pun not intended) seems to be fairly sparse at the club at present). Additionally in my opinion no business of Torquay United (or Plainmoor Limited if you prefer)'s size is likely to give out such information to competitors when there really is no need!

I suggest you go away study the club's accounts (they are available from Companies House for a fee on an annual basis) and when you have conducted some worthwhile analysis come back and discuss your findings. I would recommend your starting point be the fact that the due diligence conducted when the current board bought the club pretty much said it wasn't a going concern, so maybe you should be thankful the club even exists instead of digging for a story.

The people in charge of the club know the financial limitations (I'm sure they would take this opportunity to thank you for reminding them of them) and know their statutory duties, which include not trading when insolvent. We have to trust that they do not know of any reason the club should not move forward. If you disagree with their opinion I suggest you move to remove them, but that will cost you some money and also the running costs of the club moving forward, which you probably wouldn't be too pleased about if someone tried to add them by requesting a Statement of Affairs!

tomogull · Post by **tomogull** » 01 Oct 2015, 21:30

KeithMalone wrote:As a qualified accountant I can tell you there is no need for this. To produce this would cost the club money (which by all accounts (pun not intended) seems to be fairly sparse at the club at present). Additionally in my opinion no business of Torquay United (or Plainmoor Limited if you prefer)'s size is likely to give out such information to competitors when there really is no need!

I suggest you go away study the club's accounts (they are available from Companies House for a fee on an annual basis) and when you have conducted some worthwhile analysis come back and discuss your findings. I would recommend your starting point be the fact that the due diligence conducted when the current board bought the club pretty much said it wasn't a going concern, so maybe you should be thankful the club even exists instead of digging for a story.

The people in charge of the club know the financial limitations (I'm sure they would take this opportunity to thank you for reminding them of them) and know their statutory duties, which include not trading when insolvent. We have to trust that they do not know of any reason the club should not move forward. If you disagree with their opinion I suggest you move to remove them, but that will cost you some money and also the running costs of the club moving forward, which you probably wouldn't be too pleased about if someone tried to add them by requesting a Statement of Affairs!

BRILLIANT !! That must be a strong contender for the best post of the season so far ! Informative with a good sprinkling of acid !

Modgull · Post by **Modgull** » 01 Oct 2015, 22:08

KeithMalone wrote:As a qualified accountant I can tell you there is no need for this. To produce this would cost the club money (which by all accounts (pun not intended) seems to be fairly sparse at the club at present). Additionally in my opinion no business of Torquay United (or Plainmoor Limited if you prefer)'s size is likely to give out such information to competitors when there really is no need!

I suggest you go away study the club's accounts (they are available from Companies House for a fee on an annual basis) and when you have conducted some worthwhile analysis come back and discuss your findings. I would recommend your starting point be the fact that the due diligence conducted when the current board bought the club pretty much said it wasn't a going concern, so maybe you should be thankful the club even exists instead of digging for a story.

The people in charge of the club know the financial limitations (I'm sure they would take this opportunity to thank you for reminding them of them) and know their statutory duties, which include not trading when insolvent. We have to trust that they do not know of any reason the club should not move forward. If you disagree with their opinion I suggest you move to remove them, but that will cost you some money and also the running costs of the club moving forward, which you probably wouldn't be too pleased about if someone tried to add them by requesting a Statement of Affairs!

My sentiments exactly! Well said!

Yellows · Post by **Yellows** » 02 Oct 2015, 07:45

Modgull wrote: My sentiments exactly! Well said!

Without being unkind to you Keith I am far more qualified to tell you there is every need for this, especially in the circumstances of what has alleged to have gone on during handover to the new board. It was mention that the Board has not touch their initial investment, is this because they have extended their credit terms or profitable trading? Its is a fair request :rules: :rules: :rules:

RussianGull · Post by **RussianGull** » 02 Oct 2015, 07:52

Yells, why don't you ask them then, or join the TUST and ask them to ask on their members' behalf.

taxilady · Post by **taxilady** » 02 Oct 2015, 09:40

so now we have mushroom claiming to be a ' FD at a FL club' & Yells claiming to be the Chancellor of the Exchequer; come on George, who are you ? Bungle's little friend ?

Yellows · Post by **Yellows** » 02 Oct 2015, 10:24

taxilady wrote:so now we have mushroom claiming to be a ' FD at a FL club' & Yells claiming to be the Chancellor of the Exchequer; come on George, who are you ? Bungle's little friend ?

No need to get defensive, :rules: :rules: :rules:

Kit_robin · Post by **Kit_robin** » 02 Oct 2015, 11:05

Yells wrote: No need to get defensive, :rules: :rules: :rules:

We're not defensive, just really bored of your constant demands for something completely pointless.

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