oldskyblue58
CCFC Finance Director
just a few thoughts really
FL rule 4.1 indicates that going to the premier league is leaving the FL so the reverse must be true. So membership of the FL dates from 2001 not 1907 or 1995
The accumulated losses (or put another way the gap between assets and liabilities) at 31/05/11 was 55m yet by 21/03/13 that has risen to 70m. We are told by the administrator management accounts show that the losses incurred to 31/05/12 were 3m so are they really suggesting that CCFC Ltd lost 12m in the period from 01/06/12 to 21/03/13...... less than 9 months !
CCFC H is claiming beneficial ownership of the golden share if it is CCFC Ltd on the basis that (a) it holds 100% of the shares in ccfc ltd (b) it pays all the bills from the CCFC H bank account (c) as it stands it operates the "club". So for (a) how unusual a position is that ? For (b) they have chosen to operate that way but that doesnt change who has the legal obligation to pay a bill Then (c) the longer that goes on the more of a problem it is because it demonstrates the "ownership"
If CCFC H claim beneficial ownership of the share in CCFC Ltd then surely they also claim beneficial ownership of the other assets and liabilities there. After all they say Holdings paid all the players .......... then forget about Holdings paying from their bank account for the rent also
The debt to ARVO appears to have increased by nearly 2m since March! Have to assume interest is being added to it ..... thought liabilities were frozen ?
The administrators report includes 600k for the net rent due after deducting the 500k rent deposit. As I understood it the Escrow was seperate to the rent in legal terms and there is a liability to top it up every time it is drawn down. Also wasnt there talk of it being guaranteed by some ex directors , is that being chased if not why not? But the liability is the balance remaining on the lease and licence so where is that in the calculations?
How does a non trading property subsidiary have a turnover of 9m and expenses of 12m to 31/05/12 ? (that would be management figures prepared by the directors of CCFC Ltd of course)
2011 accounts SBS&L were owed 9m and ARVO 2m by the group by 21/03/13 SBS& L were owed 14.5m and ARVO 10.2m an increase of 13.7m. What was it spent on if CCFC Ltd was not trading ?
Was the ARVO money paid to CCFC Ltd or to CCFC H ? pretty sure CCFC Ltd wouldnt claim beneficial ownership of the debt
just a few queries
FL rule 4.1 indicates that going to the premier league is leaving the FL so the reverse must be true. So membership of the FL dates from 2001 not 1907 or 1995
The accumulated losses (or put another way the gap between assets and liabilities) at 31/05/11 was 55m yet by 21/03/13 that has risen to 70m. We are told by the administrator management accounts show that the losses incurred to 31/05/12 were 3m so are they really suggesting that CCFC Ltd lost 12m in the period from 01/06/12 to 21/03/13...... less than 9 months !
CCFC H is claiming beneficial ownership of the golden share if it is CCFC Ltd on the basis that (a) it holds 100% of the shares in ccfc ltd (b) it pays all the bills from the CCFC H bank account (c) as it stands it operates the "club". So for (a) how unusual a position is that ? For (b) they have chosen to operate that way but that doesnt change who has the legal obligation to pay a bill Then (c) the longer that goes on the more of a problem it is because it demonstrates the "ownership"
If CCFC H claim beneficial ownership of the share in CCFC Ltd then surely they also claim beneficial ownership of the other assets and liabilities there. After all they say Holdings paid all the players .......... then forget about Holdings paying from their bank account for the rent also
The debt to ARVO appears to have increased by nearly 2m since March! Have to assume interest is being added to it ..... thought liabilities were frozen ?
The administrators report includes 600k for the net rent due after deducting the 500k rent deposit. As I understood it the Escrow was seperate to the rent in legal terms and there is a liability to top it up every time it is drawn down. Also wasnt there talk of it being guaranteed by some ex directors , is that being chased if not why not? But the liability is the balance remaining on the lease and licence so where is that in the calculations?
How does a non trading property subsidiary have a turnover of 9m and expenses of 12m to 31/05/12 ? (that would be management figures prepared by the directors of CCFC Ltd of course)
2011 accounts SBS&L were owed 9m and ARVO 2m by the group by 21/03/13 SBS& L were owed 14.5m and ARVO 10.2m an increase of 13.7m. What was it spent on if CCFC Ltd was not trading ?
Was the ARVO money paid to CCFC Ltd or to CCFC H ? pretty sure CCFC Ltd wouldnt claim beneficial ownership of the debt
just a few queries
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