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CPFC 2010 Accounts Overdue
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 Y Ddraig Goch  In The Crowd 05 Jun 18 6.56pm |
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Originally posted by Midlands Eagle
The financial penalties for failing to file accounts on time is the least of the club's worries. The poor PR is far more damaging as this has been picked up by the national media and there must be many interested parties thinking "here we go again" The credit reference agencies will have picked up on what is normally a red flag and will be issuing warnings on their credit reports so that suppliers and other clubs will be loathe to extend credit Potentially, however there are plenty of valid reasons why this may have happened. Once they are released, we will have a better idea
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laddo  london 05 Jun 18 7.08pm |
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Up until now I've been chilled about this. Now I'm starting to worry.
laddo "People say, live fast, die young. I say live fast, die old. That's me, the non-conformist". |
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pssguy  05 Jun 18 7.33pm |
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Well at least we are not Villa Even a cut-price Benteke won't be an option there
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| slubglurge welling 05 Jun 18 9.33pm |
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What is clear is that until those accounts are lodged and scrutinised we will not be doing any transfer business. If we have fallen foul of FFP and receive a punishment we may not be doing any business at all.It may explain our pathetic January window as well. Looks like we've ballsed up again
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| Palace 1979 Surrey 05 Jun 18 10.04pm |
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Originally posted by slubglurge
What is clear is that until those accounts are lodged and scrutinised we will not be doing any transfer business. If we have fallen foul of FFP and receive a punishment we may not be doing any business at all.It may explain our pathetic January window as well. Looks like we've ballsed up again Let's wait and see before making any judgement. Hopefully a sound explanation, and if we have FFP issues then there must be many more clubs in the same position. I trust Parish as he has always stated he would never put us in financial jeopardy, and from what I have seen so far I have no reason to doubt this.
Some people are like Slinkies … not really good for anything, but you can’t help smiling when you see one tumble down the stairs. |
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| martin2412 Living The Dream 05 Jun 18 10.10pm |
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There's probably a perfectly simple explanation as to why they're late. Perhaps one of Diane Abbott's relations done our accounts.
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| Ali_Campbell New Addington 05 Jun 18 10.33pm |
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Knowing Palace, it’s probably some bloke in the Sainsbury’s stockroom with a calculator.
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| Kentbaldeagle64 Swanscombe 05 Jun 18 11.42pm |
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Always like to put pressure on ourselves. As a player potentially coming to the club i would be thinking nah give it a miss may not get pai if it goes tits up. Why leave it so late, no need for this sloppy business practice.
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edskan  06 Jun 18 4.40am |
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The usual mixed feelings of pride and embarrassment in supporting Palace.
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| Direwolf Lincoln 06 Jun 18 8.52am |
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It wouldn't be Palace would it without us making some sort of balls-up. This season has been great for the media:
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| ambrose7 Croydon 06 Jun 18 8.59am |
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Originally posted by Mapletree
Chill. If there is one thing all of our owners are good at it's managing finances. The more concerning thing is I doubt it's their job, I'd have thought it's Phil Alexander's. Given how active Parish is, Alexander can't have all that much to do these days so you'd have thought he'd get it done - it's something like season 20 so he's not new to it. Although as a CEO who has overseen two administrations, his accounting CV isn't the best out there.
26th January 2010 - Enter Administration |
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| Mapletree Croydon 06 Jun 18 9.10am |
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Originally posted by ambrose7
The more concerning thing is I doubt it's their job, I'd have thought it's Phil Alexander's. Given how active Parish is, Alexander can't have all that much to do these days so you'd have thought he'd get it done - it's something like season 20 so he's not new to it. Although as a CEO who has overseen two administrations, his accounting CV isn't the best out there. As has been said above, there are many reasons for late filing and it's not uncommon. It's also no big deal unless it affects our ability to do business. I see no evidence it has. There is comment in the Press from CPFC saying it's all under control. I have been through this and just can't get excited about it. Maybe it's linked to a change in business structure which makes it hard to reconcile Financial Accounts between old and new entities. Don't really know and don't really care. This will blow over. And as for PR, I can't see anyone else caring either. We have been through far more interesting issues in the recent past. This is just the usual Press feeding frenzy. In terms of responsibility, in the end it's the Board that carries the can. It has to make sure the Accountants deal with this and I am sure will have a strong focus on it. Whoever is Chair of the Audit Committee will have to make sure all is properly done in time to prevent any escalation. Edited by Mapletree (06 Jun 2018 9.14am)
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