CPFC 2010 Accounts Overdue

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CPFC 2010 Accounts Overdue

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jimruss Sidcup 31 May 18 9.05am
Originally posted by bexleydave I'm surprised that the media haven't yet picked up on this, especially our detractors like Talk Sport, as it's on the BBS and NSC as well as here. Possibly they're waiting to see if the notice is published in the London Gazette or they're holding fire pending a comment from the club? I've just popped over to have a look at what they're saying, they're frothing at the mouth and w@nking themselves into a frenzy about this.
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jimruss

Sidcup 31 May 18 9.05am

Originally posted by bexleydave

I'm surprised that the media haven't yet picked up on this, especially our detractors like Talk Sport, as it's on the BBS and NSC as well as here. Possibly they're waiting to see if the notice is published in the London Gazette or they're holding fire pending a comment from the club?

I've just popped over to have a look at what they're saying, they're frothing at the mouth and w@nking themselves into a frenzy about this.

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bexleydave Barnehurst 31 May 18 9.25am
Originally posted by jimruss I've just popped over to have a look at what they're saying, they're frothing at the mouth and w@nking themselves into a frenzy about this. Yeah, well they would wouldn't they? I'm more concerned about the effect it could have on our business dealings although I'd also prefer not to give them something to s**** about. Bexley Dave Can you hear the Brighton sing? I can't hear a ***** thing! "The most arrogant, obnoxious bunch of deluded little sun tanned, loafer wearing mummy's boys I've ever had the misfortune of having to listen to" (Burnley forum)
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bexleydave

Barnehurst 31 May 18 9.25am

Originally posted by jimruss

I've just popped over to have a look at what they're saying, they're frothing at the mouth and w@nking themselves into a frenzy about this.

Yeah, well they would wouldn't they? I'm more concerned about the effect it could have on our business dealings although I'd also prefer not to give them something to s****** about.

Bexley Dave

Can you hear the Brighton sing? I can't hear a ******* thing!

"The most arrogant, obnoxious bunch of deluded little sun tanned, loafer wearing mummy's boys I've ever had the misfortune of having to listen to" (Burnley forum)

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Sg Bilko Deurne Holland 31 May 18 10.27am
Originally posted by babylonjohn It seems fairly obvious that they are restructuring their finances in advance of the new stand build and the injection of the us money. Unless the bed wetters on here are sitting on the board they will not be privy to the way this is done. Could not have put it better myself, well said that man, it’s the same on here every year.
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Sg Bilko

Deurne Holland 31 May 18 10.27am

Originally posted by babylonjohn

It seems fairly obvious that they are restructuring their finances in advance of the new stand build and the injection of the us money. Unless the bed wetters on here are sitting on the board they will not be privy to the way this is done.

Could not have put it better myself, well said that man, it’s the same on here every year.

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Nobbybm Dartford 31 May 18 10.32am
Originally posted by Midlands Eagle Why are you cherrypicking the posts that you wish to believe as Mileend, Nobbybm and yourself are all wrong and bexleydave is correct whether you like what he says or not I'm neither better informed & have no idea if what has been surmised is right or wrong - it was put to me as a possibility with what information is in the public domain. There are but a few who know the truth & they are within the Club or their advisors. As Bexleydave says, without the facts there is every possibility this could impact on our transfer activity. Will this be five? It's gonna be five! It IS five!
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Nobbybm

Dartford 31 May 18 10.32am

Originally posted by Midlands Eagle

Why are you cherrypicking the posts that you wish to believe as Mileend, Nobbybm and yourself are all wrong and bexleydave is correct whether you like what he says or not

I'm neither better informed & have no idea if what has been surmised is right or wrong - it was put to me as a possibility with what information is in the public domain.

There are but a few who know the truth & they are within the Club or their advisors.

As Bexleydave says, without the facts there is every possibility this could impact on our transfer activity.

Will this be five? It's gonna be five! It IS five!

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NickinOX Sailing country. 31 May 18 12.21pm
There are actually three companies listed. [Link] [Link] [Link] All of which have a gazette notice listed for 5 June. [Link] [Link] For those interested in reading more about this. I suspect this is because of a restructuring: this is just my opinion based upon a reading government guidance on the issue (which can be found in the last link above). It looks very much like what Cambridge eagle and a couple of others have said. If you come to a fork in the road, take it.
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NickinOX

Sailing country. 31 May 18 12.21pm

There are actually three companies listed.

[Link]

All of which have a gazette notice listed for 5 June.

[Link]

For those interested in reading more about this. I suspect this is because of a restructuring: this is just my opinion based upon a reading government guidance on the issue (which can be found in the last link above).

It looks very much like what Cambridge eagle and a couple of others have said.

If you come to a fork in the road, take it.

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Midlands Eagle 31 May 18 2.04pm
Originally posted by NickinOX I suspect this is because of a restructuring: this is just my opinion based upon a reading government guidance on the issue (which can be found in the last link above). It looks very much like what Cambridge eagle and a couple of others have said. But what has a restructuring in May or June 2018 got to do with the accounts for the year ended 30th June 2017 as you can't go back and rewrite history
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Midlands Eagle

31 May 18 2.04pm

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Originally posted by NickinOX

I suspect this is because of a restructuring: this is just my opinion based upon a reading government guidance on the issue (which can be found in the last link above).

It looks very much like what Cambridge eagle and a couple of others have said.

But what has a restructuring in May or June 2018 got to do with the accounts for the year ended 30th June 2017 as you can't go back and rewrite history

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bexleydave Barnehurst 31 May 18 2.21pm
Originally posted by Midlands Eagle But what has a restructuring in May or June 2018 got to do with the accounts for the year ended 30th June 2017 as you can't go back and rewrite history Exactly. There was a restructuring with the US investment and the reduction in investment of three of the original owners, but we didn't fail to submit our pre-restructuring accounts on time. It gives the, almost certainly false, impression we're up to no good. Bexley Dave Can you hear the Brighton sing? I can't hear a ******* thing! "The most arrogant, obnoxious bunch of deluded little sun tanned, loafer wearing mummy's boys I've ever had the misfortune of having to listen to" (Burnley forum)
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bexleydave

Barnehurst 31 May 18 2.21pm

Originally posted by Midlands Eagle

But what has a restructuring in May or June 2018 got to do with the accounts for the year ended 30th June 2017 as you can't go back and rewrite history

Exactly. There was a restructuring with the US investment and the reduction in investment of three of the original owners, but we didn't fail to submit our pre-restructuring accounts on time. It gives the, almost certainly false, impression we're up to no good.

Bexley Dave

Can you hear the Brighton sing? I can't hear a ******* thing!

"The most arrogant, obnoxious bunch of deluded little sun tanned, loafer wearing mummy's boys I've ever had the misfortune of having to listen to" (Burnley forum)

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mileend East London 31 May 18 2.27pm
Originally posted by Midlands Eagle But what has a restructuring in May or June 2018 got to do with the accounts for the year ended 30th June 2017 as you can't go back and rewrite history that's the point - the history for 2017 isn't written until the accounts are submitted. I am sure some qualified accountants could comment better but there are many ways of adopting and changing accounting policies that can dramatically alter the way the accounts look. But you need to get the auditors to agree. That might be what is going on right now. For what is worth, I do agree with you (and bexleydave) that it is damaging the club not having the accounts for 2017 submitted and could adversely affect our upcoming business. I hope they resolve this quickly. Edited by mileend (31 May 2018 2.29pm)
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mileend

East London 31 May 18 2.27pm

Originally posted by Midlands Eagle

But what has a restructuring in May or June 2018 got to do with the accounts for the year ended 30th June 2017 as you can't go back and rewrite history

that's the point - the history for 2017 isn't written until the accounts are submitted. I am sure some qualified accountants could comment better but there are many ways of adopting and changing accounting policies that can dramatically alter the way the accounts look. But you need to get the auditors to agree. That might be what is going on right now.

For what is worth, I do agree with you (and bexleydave) that it is damaging the club not having the accounts for 2017 submitted and could adversely affect our upcoming business. I hope they resolve this quickly.

Edited by mileend (31 May 2018 2.29pm)

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bexleydave Barnehurst 31 May 18 2.33pm
"A source close to the club advised that the accounts were with the Premier League for their sign-off and are due to be published imminently" [Link] That's alright then. I didn't know the PL needed to sign off the accounts before submission, but if they say so..... Bexley Dave Can you hear the Brighton sing? I can't hear a ******* thing! "The most arrogant, obnoxious bunch of deluded little sun tanned, loafer wearing mummy's boys I've ever had the misfortune of having to listen to" (Burnley forum)
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bexleydave

Barnehurst 31 May 18 2.33pm

"A source close to the club advised that the accounts were with the Premier League for their sign-off and are due to be published imminently"

[Link]

That's alright then. I didn't know the PL needed to sign off the accounts before submission, but if they say so.....

Bexley Dave

Can you hear the Brighton sing? I can't hear a ******* thing!

"The most arrogant, obnoxious bunch of deluded little sun tanned, loafer wearing mummy's boys I've ever had the misfortune of having to listen to" (Burnley forum)

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Bangell Oxford 31 May 18 3.34pm
The summer break is a dire time
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Bangell

Oxford 31 May 18 3.34pm

The summer break is a dire time

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Nobbybm Dartford 31 May 18 3.36pm
Originally posted by Midlands Eagle But what has a restructuring in May or June 2018 got to do with the accounts for the year ended 30th June 2017 as you can't go back and rewrite history The restructuring that was mooted to me would've been several months ago - at least well before the Barclays charge was repaid & possibly as far back as the financial year end. Subsequently, the Club also changed the submission agent to this firm up in Altringham. Edited by Nobbybm (31 May 2018 3.36pm) Will this be five? It's gonna be five! It IS five!
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Nobbybm

Dartford 31 May 18 3.36pm

Originally posted by Midlands Eagle

But what has a restructuring in May or June 2018 got to do with the accounts for the year ended 30th June 2017 as you can't go back and rewrite history

The restructuring that was mooted to me would've been several months ago - at least well before the Barclays charge was repaid & possibly as far back as the financial year end.

Subsequently, the Club also changed the submission agent to this firm up in Altringham.

Edited by Nobbybm (31 May 2018 3.36pm)

Will this be five? It's gonna be five! It IS five!

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Midlands Eagle 31 May 18 4.17pm
Originally posted by Nobbybm The restructuring that was mooted to me would've been several months ago - at least well before the Barclays charge was repaid & possibly as far back as the financial year end. I'm away on holiday at the moment so don't have all the details to hand but from memory the club took out a short term borrowing facility with Barclays after the June 2017 year end which has subsequently been repaid so it has nothing to do with the accounts that we are talking about. The only reason that I can think of for the delay is that Parish and Co have done something that the auditors don't like and so they have refused to sign them off
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Midlands Eagle

31 May 18 4.17pm

Originally posted by Nobbybm

The restructuring that was mooted to me would've been several months ago - at least well before the Barclays charge was repaid & possibly as far back as the financial year end.

I'm away on holiday at the moment so don't have all the details to hand but from memory the club took out a short term borrowing facility with Barclays after the June 2017 year end which has subsequently been repaid so it has nothing to do with the accounts that we are talking about.

The only reason that I can think of for the delay is that Parish and Co have done something that the auditors don't like and so they have refused to sign them off

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