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Other points in accounts Apparently the losses are in line with industry norms .... But aren't we trying to be self sufficient whilst the norm seems to be to rely on owners funds? Still going on about limited access to non ticketing match day income and no non match day turnover. Even the...

No way to tell. Different owners would make different decisions. For example not all owners charge interest on loans

The accounts make reference to the Thomas transfer as the major source of player sale profit. Loans will be included if a fee is paid but in league 2 those are not significant

All good questions Nick, it is questions I would ask a client in trouble like this BDO are one of the biggest auditors around They have far more information than any of us will ever know to be able to express their opinion

Ricoh and higgs I would think. So perhaps some the stadium based match day costs included in the rent licence

First off these figures are for the group and therefore include otium. Sbs&l is a holding company, does not trade and has few expenses. The group is sbs&l plus otium Will just put key comments in the order they appear in the accounts, which can be downloaded from companies house Strategic...

Accounts are available at companies house to download for sbs&l but not yet for otium. I will go through later but it seems to me there must be a plan B because the Ricoh problem is mentioned by both directors and auditors but not in great detail. They focus on the usual funding caveats

"You might think that but I couldn't possibly comment" yes minister I believe once said. More to lose than gain for sbs&l auditors in doing something silly like that. Perhaps the audit report qualifies the accounts on the going concern basis.

The ability to trade for a period of at least 12mths after the date the reports are signed essentially. If there is no deal at the Ricoh available or a ground share then the club can not trade. The golden share is essentially the ability to trade as a football club by fulfilling fixtures CD As...

The auditors have surely got to see the audit as high risk unless there is evidence presented to them and examined to say otherwise. They have to take the risks into account in reaching their opinion. But before that the directors are responsible for producing the accounts that the auditors...

Possibly if they could show substantive positive talks were taking place. But we are told none are taking place (apart from fans rumours). Another possibility is that sisu have said legal actions will cease or will cease after supreme court judgement. Of course there is the possibility of...

They might fp but who knows for now. Glad I am not the auditor on this one from what we know of what is going on Content to wait to see the financials before I comment further.... although I am curious as to how they have got round it if no deal available at the Ricoh

Sbs&l is a set of group accounts so will include everything in the otium accounts to be able to be filed. Therefore it's reasonable to assume otium accounts will appear soon also. How that is possible we will have to wait and see. How do the directors and auditors get round the going concern...

pointless and irrelevant interview really

Richardson - but he would say that wouldn't he. So lets get a few provable facts- all taken from audited accounts he signed Richardson appointed 09/11/1991 Resigned 30/01/2002 CCFC set things in motion on the stadium in late 90's and registered Arena 2001 Ltd for the purpose in 1999. CCC didnt...

What's the point of interviewing him he has nothing new to offer and played a key part in putting the club in a vulnerable position

Yes but arvo are one of the claimants so there maybe some sort of action to recover say ryton from arvo that a court may permit. However I don't have a commercial barristers knowledge to know for certain. It could all get very messy and take years

Arvo still have the charge over all assets so get paid before other creditors no matter who controls the insolvency. Other creditors only get paid if money left over after satisfying the charge in full. Any debt to CCC is not secured

Last count arvo were owed 13m so probably nick

Not a lawyer but the parties to this case are arvo sbs&l and otium. They are the ones liable to court costs. Sbs&l has no income. Arvo has a charge over ryton and all assets of otium so there is a risk of recovery action there except arvo are not in the UK. But i assume the court could order...