Clubs Accounts (1 Viewer)

skyblue_rich

New Member
Cloating said that they were posted 2 weeks ago, but they still havent arrived at companies house. This means that they havent sent them. So, my dads an accountant, and they must get an accountant 2 sign them off 2 say that they will stay in business for another year. This was supposed 2 be done around the time where the tax man came 2 the ricoh. The fact that they havent done it yet means that i) No accountant wanted 2 sign the account showing we are in dire straits. ii) Or it means that Sisu didnt put any money in 2 the club, when they said they put in 8 mil, and they dont want the fans to know, so they rnt putting in the accounts .Either way the future doesnt look gr8
 

mattylad

Member
Cloating said that they were posted 2 weeks ago, but they still havent arrived at companies house. This means that they havent sent them. So, my dads an accountant, and they must get an accountant 2 sign them off 2 say that they will stay in business for another year. This was supposed 2 be done around the time where the tax man came 2 the ricoh. The fact that they havent done it yet means that i) No accountant wanted 2 sign the account showing we are in dire straits. ii) Or it means that Sisu didnt put any money in 2 the club, when they said they put in 8 mil, and they dont want the fans to know, so they rnt putting in the accounts .Either way the future doesnt look gr8
I work in accounts and that is all so wrong its could be deemed libelous :whistle:
 

skyblue_rich

New Member
It could be the way i phrased it, but i was just wondering y cloating said it was posted and companies house still say they dont have it. Just giving a few possible posibilities. plus i trust my dad since he has been an accountant 4 marcus hall testomonial so im sure he knows he stuff, must be the way it came across 2me
 

TheRoyalScam

Well-Known Member
It could be the way i phrased it, but i was just wondering y cloating said it was posted and companies house still say they dont have it. Just giving a few possible posibilities. plus i trust my dad since he has been an accountant 4 marcus hall testomonial so im sure he knows he stuff, must be the way it came across 2me

Well I understood your post and what your dad says about signing off the accounts is correct, so your conjecture is certainly a possibility - can't see what's libellous about it. Incidentally that's precisely why I renewed my season ticket using a friend's credit card, rather than using cash/debit card [I don't do credit cards] - if things do go tits up then there's some financial cover. We'll just wait and see what mattylad has to say.
 

mattylad

Member
As I posted the other day it can take up to 6 weeks at this time of year for accounts to become available on line after companies house recieves them as just about every major firm in the UK has its financial year end in April. Couple this with the fact that an independant accountant does not have to sign of a companies accounts it can be a qualified employee/controller and the fact that it would make no odds at all whether SISU had put the money in or not to an accountant/controller checking them as all he is doing is confirming the balance sheet is accurate. People need to stop fretting, the club say they have submitted them and there is no reason to disbelieve at this time plus if SISU had not put the money in do peope not think we would have had a few angry players in the media saying where are my wages
 

skyblue_rich

New Member
what does this have to do with libellous. Plus companies house automatically update their website when they recieve the accounts, even if they do not put the accounts up straight away.
 

mattylad

Member
Not going to argue, I lead a financial services team and deal with companies house on a virtual daily basis....as for why it could be deemed libellous "Clouting said that they were posted 2 weeks ago, but they still havent arrived at companies house" "This means that they havent sent them" is potentially falsely accusing the club of lying.
 

skyblue_rich

New Member
Also dont want to argue, but just saying 2 possibilities and what someone told me, just wondering what people thought about this. Plus I didnt mean to accuse the club, but it is a possible outcome. I am just concerned since I dont trust Sisu as far as I could throw them
 

Nonleagueherewecome

Well-Known Member
Oh I'm sure none of us would ever want to imply that Our Glorious Saviours SISU are capable of lying. That would be so out of character with, oh I dunno, everything they ever say!!! I admire the general positivity, but just be ready for a frustrating and fretful summer unless we get new owners sharpish. I'm amazed how short memories are.
 

TheRoyalScam

Well-Known Member
Oh I'm sure none of us would ever want to imply that Our Glorious Saviours SISU are capable of lying. That would be so out of character with, oh I dunno, everything they ever say!!! I admire the general positivity, but just be ready for a frustrating and fretful summer unless we get new owners sharpish. I'm amazed how short memories are.

Instead of 'lying', just use Brody's business-speak-Canadian-English: 'mis-communication'.:jerkit:
 

oldskyblue58

CCFC Finance Director
As I posted the other day it can take up to 6 weeks at this time of year for accounts to become available on line after companies house recieves them as just about every major firm in the UK has its financial year end in April. Couple this with the fact that an independant accountant does not have to sign of a companies accounts it can be a qualified employee/controller and the fact that it would make no odds at all whether SISU had put the money in or not to an accountant/controller checking them as all he is doing is confirming the balance sheet is accurate. People need to stop fretting, the club say they have submitted them and there is no reason to disbelieve at this time plus if SISU had not put the money in do peope not think we would have had a few angry players in the media saying where are my wages

Am going to be blunt....... I suggest you check your facts before you start telling people they are wrong.

CCFC requires an Audit under the Companies Act......... an audit is completed by a independent qualified auditor......... that is a qualified accountant usually a member of the Institute of Chartered Accountants in England & Wales or a member of the Association of Chartered Certified Accountants. It certainly cannot be done by an employee or officer of the company.

What skybluerich has said is a distinct possibility. Before signing off an audit then the reporting auditor must consider whether the company is a going concern for a period of at least 12 months after the signing of the report (not the year end). If not satisfied then the auditor can delay signing off the audit report until he is or qualify the report on the basis that he isnt of the belief that the company can continue in business. No accounts (not even those not requiring an audit) are simply about the balance sheet at a certain date, and the issue of going concern is crucial especially in these financial times

Simply put, the information that is incorrect is not that put forward by skyblue-rich but your own.

For your information it does not usually take 6 weeks to file accounts. It may take longer to access the accounts on line say 7 to 10 days but the summary page accessed at the website is updated within a day or two. I have filed hundreds of clients accounts at Company House and it has never taken 6 weeks. In deed many accounts are filed online and that further reduces the delays.

Clearly you do not have the understanding you believe you have mattylad
 
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oldskyblue58

CCFC Finance Director
Plus the mistrust is generated by the club in many ways....

At KD's first press conference we were told that the accounts would be filed within a week.... that was March we are halfway through May. Now PC is saying it was done over 2 weeks ago and yet no update to prove it on the summary page on the Company House website, when that page is quickly updated even if the accounts are not downloadable. Obviously some "mis-Communication" somewhere. These are but two ocassions of mis-communication. Entirely reasonable that some might doubt what is said and query the reasons behind it.

I dont think skyblue-rich accused the club of lying in what he said but he did propose two very valid reasons as to why any "mis-communication" may have occurred.
 
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sotv1987

Member
Not going to argue, I lead a financial services team and deal with companies house on a virtual daily basis....as for why it could be deemed libellous "Clouting said that they were posted 2 weeks ago, but they still havent arrived at companies house" "This means that they havent sent them" is potentially falsely accusing the club of lying.

You run a financial services team??? you got any jobs going Mattylad???
 

mattylad

Member
Am going to be blunt....... I suggest you check your facts before you start telling people they are wrong.

CCFC requires an Audit under the Companies Act......... an audit is completed by a independent qualified auditor......... that is a qualified accountant usually a member of the Institute of Chartered Accountants in England & Wales or a member of the Association of Chartered Certified Accountants. It certainly cannot be done by an employee or officer of the company.

What skybluerich has said is a distinct possibility. Before signing off an audit then the reporting auditor must consider whether the company is a going concern for a period of at least 12 months after the signing of the report (not the year end). If not satisfied then the auditor can delay signing off the audit report until he is or qualify the report on the basis that he isnt of the belief that the company can continue in business. No accounts (not even those not requiring an audit) are simply about the balance sheet at a certain date, and the issue of going concern is crucial especially in these financial times

Simply put, the information that is incorrect is not that put forward by skyblue-rich but your own.

For your information it does not usually take 6 weeks to file accounts. It may take longer to access the accounts on line say 7 to 10 days but the summary page accessed at the website is updated within a day or two. I have filed hundreds of clients accounts at Company House and it has never taken 6 weeks. In deed many accounts are filed online and that further reduces the delays.

Clearly you do not have the understanding you believe you have mattylad

Yes you can attempt to be blunt but by then spreading your response across two posts can consider that you have failed. I stand wholey behind my comments based on years of experience.
 

mattylad

Member
No offence Rich but I am not going to divulge that to someone I don't know on a message board, anymore than I would tell a man in the street.....sorry

There is one person on this board who can confirm I work in finance for a multi billion dollar organisation and I am sure he will gladly call me a liar if he is reading this thread :p
 

Rich

Moderator
No offence Rich but I am not going to divulge that to someone I don't know on a message board, anymore than I would tell a man in the street.....sorry

There is one person on this board who can confirm I work in finance for a multi billion dollar organisation and I am sure he will gladly call me a liar if he is reading this thread :p

Wow your job must be really high profile. If someone in the pub that I was chatting too asked me where I worked I'd gladly tell them. The same as I would tell anyone on here and not make a big issue of it. Because it's not exactly secure information in most cases. But I bet my employers are bigger than yours Douche bag!
 

oldskyblue58

CCFC Finance Director
ok - try this ..... as an experienced qualified accountant & auditor i can tell you with absolute certainty you are WRONG about the requirements for the accounts and who can sign them off. To do what you suggest actually breaks the Companies Act for which there could be penalties, even including prison

Suggest you get the right experience and facts before you argue with others who actually know. People with a little knowledge but no understanding lecturing others annoy me. Your experience (a) obviously isnt relevant and (b) is irrelevant as the Law is very clear as to the requirements. That blunt enough for you!
 
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ashbyjan

Well-Known Member
I think its obvious that whilst the board members were on their way to their meeting with the council about buying the Ricoh they put the accounts in the glove box of the Brody's car after one of the many games he has watched and forgot they were there - easy mistake to make. No drama - all explained.
 

oldskyblue58

CCFC Finance Director
Like the explanation jan :p simple really i should have known lol
 

mattylad

Member
Wow your job must be really high profile. If someone in the pub that I was chatting too asked me where I worked I'd gladly tell them. The same as I would tell anyone on here and not make a big issue of it. Because it's not exactly secure information in most cases. But I bet my employers are bigger than yours Douche bag!

Guess I am just more careful than you.....no big deal to me what you think to be honest
 

mattylad

Member
ok - try this ..... as a qualified accountant and a statutory auditor with many years of experience i can tell you with absolute certainty you are WRONG about the accounts and who can sign them off. To do what you suggest breaks the Companies Act for which there are penalties including prison

Suggest you get the right experience before you go lecturing people who actually know

And I suggest we agree to disagree as I have tried to lecture no one, only made a comment that people should not accuse the club of lying without having proof of which they do not..............as for your years of experience perhaps they are the same years of supporting the club which have clearly stunted your feelings towards it and have clouded your judgement in this matter.
 

oldskyblue58

CCFC Finance Director
And I suggest we agree to disagree as I have tried to lecture no one, only made a comment that people should not accuse the club of lying without having proof of which they do not..............as for your years of experience perhaps they are the same years of supporting the club which have clearly stunted your feelings towards it and have clouded your judgement in this matter.


Frankly dont care what you think of me, its simply another inaccuracy on your part ...... nothing new there then:facepalm:.
 
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oldskyblue58

CCFC Finance Director
chap that relates to one set of accounts filed last July such delays are the exception not the rule. There are thousands filed every month and a few exceptions do not prove your point. We havent had any current problems at my firm filing accounts nor have any other accountants I have spoken to, but i dont suppose you actually prepare and file financial statements at Company House do you

Still doesnt address your assertions about audits and who can sign them off http://www.companieshouse.gov.uk/about/gbhtml/gp2.shtml#ch11

Suggest you download the 2009/2010 annual report from Company house.... includes following stats

98.4% of transactions filed electronically available to view within 72 hours

95.4% transactions filed in paper form available to view within 8 working days

next question?
 
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skyblu3sk

Well-Known Member
Interestingly Mr Brody has taken on a share in the business... This also hasn't shown up as a change of shareholder...
 

oldskyblue58

CCFC Finance Director
nope - not for any of the group companies - as of 9am today

and no notification that they have been received and will be available to see shortly either. Just shows as Overdue
 
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oldskyblue58

CCFC Finance Director
All i can say is that it would be reasonable to expect to see them by now if they were filed on 28th April (thats the two Thursdays before the fans forum), Its now 13 working days (excluding bank hols) after and none of the companies are filed in the Sky Blue Sports & Leisure Group. They have to be filed in paper form and Company House expect to process over 95% of those within 8 working days.
 

rob9872

Well-Known Member
As I love to say "told you so" I did predict this would be the case a couple of weeks back. It's a sad state of affairs that we can predict these things with alarming regularity and speaks volumes :(
 

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