CPFC 2010 Accounts Overdue

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CPFC 2010 Accounts Overdue

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CambridgeEagle Sydenham 06 Jun 18 9.24am
Originally posted by Kentbaldeagle64 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. I would think potential signings would receive assurances it's nothing to worry about and their concern will be more how much they are getting and who they will be playing with. No two offers for a player will be the same, given all clubs are different, so I can't see some late accounts being the reason they'd go for a different offer. Agree it looks a bit fishy though, however I trust that the accounts will be filed in the coming days.
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CambridgeEagle

Sydenham 06 Jun 18 9.24am

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Originally posted by Kentbaldeagle64

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.

I would think potential signings would receive assurances it's nothing to worry about and their concern will be more how much they are getting and who they will be playing with. No two offers for a player will be the same, given all clubs are different, so I can't see some late accounts being the reason they'd go for a different offer.

Agree it looks a bit fishy though, however I trust that the accounts will be filed in the coming days.

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Mapletree Croydon 06 Jun 18 9.44am
The accounts of the company which owns Palace, CPFC 2010 Ltd, for the 12 months until June 30, 2017 remain outstanding. They were due by March 31 and no explanation for the delay has been provided. However, any threat of being wound up – a potential consequence of late filing – is a “technicality” which Palace expect to overcome, Press Association Sport understands. Palace expect the matter to be resolved and the accounts to be published by Companies House in the next few days. The draft accounts have already been presented to the Premier League, according to a source close to the club. The accounts are expected to show the pay-offs levied to Alan Pardew and Sam Allardyce, who left the club in December 2016 and May 2017, respectively. Palace have missed the deadline by more than two months and face a fine of £375 if they file by the end of June. Should there be a further delay the fine will double to £750, regulations on the Companies House website show.
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Mapletree

Croydon 06 Jun 18 9.44am

The accounts of the company which owns Palace, CPFC 2010 Ltd, for the 12 months until June 30, 2017 remain outstanding. They were due by March 31 and no explanation for the delay has been provided.

However, any threat of being wound up – a potential consequence of late filing – is a “technicality” which Palace expect to overcome, Press Association Sport understands.

Palace expect the matter to be resolved and the accounts to be published by Companies House in the next few days.

The draft accounts have already been presented to the Premier League, according to a source close to the club.

The accounts are expected to show the pay-offs levied to Alan Pardew and Sam Allardyce, who left the club in December 2016 and May 2017, respectively.

Palace have missed the deadline by more than two months and face a fine of £375 if they file by the end of June.

Should there be a further delay the fine will double to £750, regulations on the Companies House website show.

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Midlands Eagle 06 Jun 18 9.51am
Originally posted by Mapletree 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. Your scenario shouldn't be a cause for delaying the publishing of the accounts. My own guess is that the club have tried to get away with some creative accounting but the auditors have objected and refused to sign off the accounts. If it were something straight forward like a restructuring Steve Parish would have come out and said so
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Midlands Eagle

06 Jun 18 9.51am

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Originally posted by Mapletree

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.

Your scenario shouldn't be a cause for delaying the publishing of the accounts.

My own guess is that the club have tried to get away with some creative accounting but the auditors have objected and refused to sign off the accounts.

If it were something straight forward like a restructuring Steve Parish would have come out and said so

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Badger11 Beckenham 06 Jun 18 9.57am
Originally posted by Midlands Eagle Your scenario shouldn't be a cause for delaying the publishing of the accounts. My own guess is that the club have tried to get away with some creative accounting but the auditors have objected and refused to sign off the accounts. If it were something straight forward like a restructuring Steve Parish would have come out and said so Player Assets: Jason Puncheon £20 Million Chungy £30 million Mutch £50 million Yeah I think the auditors may have seen through this. Still it wouldn't be Palace without some turmoil lets hope it is Mutch (geddit) a do about nothing. Actually maybe Parish has told the auditors its like home contents insurance. Its not the cost of the player but the cost of his replacement? Edited by Badger11 (06 Jun 2018 9.57am) Edited by Badger11 (06 Jun 2018 10.04am) One more point
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Badger11

Beckenham 06 Jun 18 9.57am

Originally posted by Midlands Eagle

Your scenario shouldn't be a cause for delaying the publishing of the accounts.

My own guess is that the club have tried to get away with some creative accounting but the auditors have objected and refused to sign off the accounts.

If it were something straight forward like a restructuring Steve Parish would have come out and said so

Player Assets:
Jason Puncheon £20 Million
Chungy £30 million
Mutch £50 million

Yeah I think the auditors may have seen through this.

Still it wouldn't be Palace without some turmoil lets hope it is Mutch (geddit) a do about nothing.

Actually maybe Parish has told the auditors its like home contents insurance. Its not the cost of the player but the cost of his replacement?

Edited by Badger11 (06 Jun 2018 9.57am)

Edited by Badger11 (06 Jun 2018 10.04am)

One more point

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since1953 Maidenhead 06 Jun 18 10.30am
Somebody in an earlier thread suggested that we have been declaring losses so as to negate our tax obligations. Maybe the auditors won't wear this any longer.
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since1953

Maidenhead 06 Jun 18 10.30am

Somebody in an earlier thread suggested that we have been declaring losses so as to negate our tax obligations. Maybe the auditors won't wear this any longer.

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steeleye20 Croydon 06 Jun 18 12.56pm
How bent are CPFC 2010? Not, or some or very? No matter how they paper over the cracks, all the other PL clubs have submitted well before time, the perception of Crystal Palace FC will be different, a club you would be sure of but now not so much.
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steeleye20

Croydon 06 Jun 18 12.56pm

How bent are CPFC 2010? Not, or some or very?

No matter how they paper over the cracks, all the other PL clubs have submitted well before time, the perception of Crystal Palace FC will be different, a club you would be sure of but now not so much.

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manwitheagletattoo Somewhere in England 06 Jun 18 1.37pm
Originally posted by steeleye20 How bent are CPFC 2010? Not, or some or very? No matter how they paper over the cracks, all the other PL clubs have submitted well before time, the perception of Crystal Palace FC will be different, a club you would be sure of but now not so much. Personally, in my opinion this is one slanderous comment. South London & Proud Sometimes I really wonder if family are really worth it. Because it doesn’t matter how time and affection you give It’s never enough
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manwitheagletattoo

Somewhere in England 06 Jun 18 1.37pm

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Originally posted by steeleye20

How bent are CPFC 2010? Not, or some or very?

Personally, in my opinion this is one slanderous comment.

South London & Proud
Sometimes I really wonder if family are really worth it.
Because it doesn’t matter how time and affection you give
It’s never enough

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Y Ddraig Goch In The Crowd 06 Jun 18 2.41pm
Originally posted by steeleye20 How bent are CPFC 2010? Not, or some or very? No matter how they paper over the cracks, all the other PL clubs have submitted well before time, the perception of Crystal Palace FC will be different, a club you would be sure of but now not so much. People who work is sports law and will know substantially more than you and I put together do not seem to think this is much of an issue. Not paying employees tax and having outstanding transfer fees to pay like Villa currently, is something to be worried about. I’m very relaxed about the whole situation. the dignified don't even enter in the game
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Y Ddraig Goch

In The Crowd 06 Jun 18 2.41pm

Originally posted by steeleye20

How bent are CPFC 2010? Not, or some or very?

People who work is sports law and will know substantially more than you and I put together do not seem to think this is much of an issue. Not paying employees tax and having outstanding transfer fees to pay like Villa currently, is something to be worried about.

I’m very relaxed about the whole situation.

the dignified don't even enter in the game

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Midlands Eagle 06 Jun 18 2.48pm
Originally posted by manwitheagletattoo Personally, in my opinion this is one slanderous comment. And in my opinion it isn't. Leaving aside the fact that slander is spoken and not written the poster was just expressing a personal opinion
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Midlands Eagle

06 Jun 18 2.48pm

Originally posted by manwitheagletattoo

Personally, in my opinion this is one slanderous comment.

And in my opinion it isn't.

Leaving aside the fact that slander is spoken and not written the poster was just expressing a personal opinion

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Midlands Eagle 06 Jun 18 2.52pm
Originally posted by Y Ddraig Goch People who work is sports law and will know substantially more than you and I put together do not seem to think this is much of an issue. Filing the accounts later is not much of an issue per se but it's the reasons behind the late filing that are worrying and the "People who work is sports law" won't know what the reasons are. You may not be worried but I am intrigued by the lack of comment from Steve Parish who isn't normally reticent about speaking to the media which makes me wonder if this situation isn't one that he can gloss over in his usual inimical fashion
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Midlands Eagle

06 Jun 18 2.52pm

Originally posted by Y Ddraig Goch

People who work is sports law and will know substantially more than you and I put together do not seem to think this is much of an issue.

Filing the accounts later is not much of an issue per se but it's the reasons behind the late filing that are worrying and the "People who work is sports law" won't know what the reasons are.

You may not be worried but I am intrigued by the lack of comment from Steve Parish who isn't normally reticent about speaking to the media which makes me wonder if this situation isn't one that he can gloss over in his usual inimical fashion

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Helmet46 Croydon 06 Jun 18 3.26pm
Originally posted by manwitheagletattoo Personally, in my opinion this is one slanderous comment. Potentially libellous, I would suggest.
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Helmet46

Croydon 06 Jun 18 3.26pm