I spent the day reading this,hoping they have slipped up
Looks like everyone knew of ccfc holdings,right back to 1996
Perhaps the hint at investigating directors etc has more to it than meets the eye!!
Principal activity
The company operates as a holding company managing the operation's of a football club
Business review
The result for the year is set out in the profit and loss account on page # The directors do not recommend
payment of a dividend and the loss for the year has been transferred to the reserves
The Football Club, which is a ###% subsidiary of the company, maintained :ta status In the Champronshlp during
the ####/#### season The arm of the Club is to become established as a successful top half of the
Championship team with the potential to reach the play-off aNd the Premler League The Board continue to work
towards securing a sound financial platform
The loss of £# #m for the year, compared to £# #m ID ####, largely reflects a significant provisional of £# #m in
#### against amounts due from subsidiary undertaking, Coventry Clty Football Club Lrmrted, there was a small
credit of £# #m in the current year in respect of recovery of this debtor balance Reduced turnover is purely a
lower level of management charge to Coventry Cnty Football Club Lrmrted Overhead expenses and other costs of
the business were at a broadly stellar level to the previous year
Management continue to work on reducing the cost base whilst improver rvenue elearnings capacity in the next
financial year management anticipate a stellar result for the underlying business to that achieved in the current
year
The directors consider the key performance Indicators of the company to be league status and flnrshrng position
of Coventry City Football Club and the operating result for the year and are satisfied with the performance of the
company
As a result of the change In ownership of IfS parent company, the company accepted the resignation of Ray
Ranson, Executlve Chairman
Directors
Ray Ranson (resigned ## March ####)
Onyechlnaedu Igwe
Gary Hoffman (resigned ## February ####)
Mlke Parton (resigned ## Aprll ####)
Edmund Baker (resigned ## June ####)
Walter Bosco (appointed ## January ####, resigned ## January ####)
The following directors were appointed subsequent to the year end
Kenneth Dulreu (appointed ## November ####)
Leonard Brody (appointed ## November ####)
John E Clarke OBE (appointed # February ####)
Paul Cloutlng (appointed ## April ####)
Principal risks and uncertainties
The Board acknowledges that there are a number of risks and uncertainness which could have a material impact
on the company’s performance The company’s income is affected by the performance of Coventry Crty Football
Club because mercantile rvenues are dependent upon team performance in the Football League Champronshrp
and domestic cup competitors
l
Coventry City Football Club (Holdings) Limited
Report of the directors
for the year ended ## May #### (continued)
Prlncipal risks and uncertainties (continued)
In order for the team to remain competitive SIQDIHCBDI Investment IS required on an ongoing basis In both financial
and non-financial terms ThlS Investment needs to be balanced with the most Important responsibility of the
Board which IS to maintain a financially secure professional football club for all of the Coventry CIty supporters
and the city as a whole
The Board have therefore Imposed greater financial discipline throughout the company to ensure that It IS able to
continue to operate within IYS existing facilities
The company prepares annual budgets and forecasts and maintains a close WOFKIDQ relationship welt Its
tolerances and shareholders Further details of the company’s approach to liquidity management are explained In
the going concern accounting policy on page #
Employee Involvement
The company recognises the Importance of good communication's and ensures that employees are Informed of
matters affecting them as BPDFODTIBIS
Disabled employees
Appllcatlons for employment by disabled persons are given full and fair consideration for all VBCBDCISS In
accordance with their particular aptitudes and EDIIIYIES In the event of employees becoming disabled, every
effort IS made to retrain them In order that their employment with the company may continue
Directors’ responsibilities for the financial statements
The directors are responsible for preparing the directors’ report and the financial statements In accordance with
applicable law and regulations
Company law requires the directors to prepare financial statements for each financial year Under that law the
d If#CtOf$ have elected to prepare the financial statements In accordance with Umted Klngdom Generally
Accepted Accounting PractIce (UnIted Kingdom Accounting Standards and applicable law) Under company law
the directors must not approve the financial statements unless they are satisfied that they QlV€ a true and fair
Vl€W of the state of #ff#ls of the company and of the profit or loss of the company for that period
In preparing these financial statements, the directors are required to
° select suitable accounting policies and then apply them consistently,
» make Iudgements and accounting estimates that are reasonable and prudent, and
» prepare the financial statements on the going concern basis unless It IS Inapproprlate to presume that the
company will continue ID business
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the
company’s transactions and disclose with reasonable accuracy at any time the financial postilion of the company
and enable them to ensure that the financial statements comply with the Companles Act #### They are also
responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention
and detection of fraud and other IrregularItIes
#
Coventry City Football Club (Holdings) Limited
Report of the independent auditors (continued)
Matters on eh/k we are required to report by exception
We have nothing to report In respect of the following matters where the Companies Act #### requires us to report
to you If, In our cornrow
» adequate accounting records have not been kept, or returns adequate for our audit have not been received
from branches not started by us, or
» the financial statements are not In agreement with the accounting records and returns, or
# certain disclosures of foreclose’ remuneration specified by law are not made, or
o we have not received all the Informatron and explanations we require for our audit
Emphas/s of matter- going concern
In forming our cornrow on the financial statements, which IS not qualified, we have considered the adequacy of the
disclosures made In note # to the financial statements concerning the company’s abrupt to continue as a going
concern The company anticipates having additional funding requirements during the ## month period from the
date of approval of these financial statements The directors of the ultimate parent company, Sky Blue Sports &
Lersure Lrmrted, are currently In active negotiators to secure the finance required by the group and company,
include adneuronal debt and equity finance Untrl additional finance can be secured the company IS dependent
upon the directors securing other sources of short term penance to meet ITS liabilities as they fall due
These conditions, along with other matters explained In note # to the financial statements, Indrcate the existence
of a material uncertainty which may cast mercantile dout on the company’s abrupt to continue as a going
concern The financial statements do not Include the adjustments that would result If the company were unable to
continue as a going concern
(QQ, IM/
Jul/en Rye (den/or statutory aid/ton
For and on behalf of BDO LLP, statutory auditor
Manchester
Un/Ted Kingdom
## Apn/ ####
BDO LLP IS a comforted liability partnership registered In England and Wales (with registered number OC######)
#
Coventry City Football Club (Holdings) Limited
Profit and loss account
for the year ended
There were no recognised gains or losses other than the loss for the financial year
All results arose from contributor actresses
I
The notes on pages # to ## form part of these financial statements
#
Coventry City Football Club (Holdings) Limited
Much much more can be read here-
http://www.companiesintheuk.co.uk/ltd/coventry-city-football-club-(holdings)
