I listened to it on the radio tonight, and I thought there were a couple of major errors by Fisher (and the other guy whose name escapes me) that weren't really followed up by anyone.
Firstly, when he was asking the academy kid who paid his wages last month, this is completely irrelevant to the point that was being made. The lad said that his payslip (as presumably was his P60) was from CCFC Ltd and not from Holdings. This means that his wages (and tax/Ni) are submitted to HMRC through Ltd. The question of who paid his wages matters not one iota, if Holdings paid his wages the cash would be trasnferred via an inter-company account on the balance sheet, but the wage cost itself is in Ltd. I could have paid his wages myself but the cost is still in Ltd (as we already know from the last submitted accounts).
Secondly, when the accountant was talking about where the GS is and the company name and reg no. he said that the name can change but the number can't (which is correct). The FL annual return submitted in June last year shows tha the GS is in company no. 03056875, which is Ltd. the reg no. of Holdings is 00094305.
Thirdly, when he said the accounts were a "mess" I didn't hear anyone ask him about the turnover of Ltd being £10.2m in 2011? As with the PAYE, any turnover included in the accounts must be submitted on the VAT returns for that company. I assume these were reconciled when the 2011 accounts were prepared (as is common practice) and agreed. So if this turnover was for Holdings, have all the VAT returns been submitted incorrectly?
I will be at Mondays forum and am hoping to get the chance to address these points to Mr Fisher.
I'm not sure if this has been mentioned on here already, but 5 mins before the forum went on air, Stuart Linnell told everyone over the mic that he'd signed the Keep City in Coventry petition and told Fisher we had better start the season at the Ricoh or else, which was met with a lot of applause and cheering. This was told to me by someone who was there tonight.
