G STAR RAM Posted July 8, 2020 Share Posted July 8, 2020 Got to admit I'm slightly (only very slightly) worried about this. I dont know why the accounts were not submitted in March for starters, as they have to be submitted to the EFL in December I believe so must have been prepared already. The fact that the auditors may insist on a material uncertainty is neither here nor there in my opinion. Mel is the only interested party (no external debt) and if it is to do with new investment it's not like they are going to be oblivious to the current climate! I'm hoping that the problem is not the use of the going concern basis due to lack of evidence of support and ability to carry on trading in current climate. Link to comment Share on other sites More sharing options...
G STAR RAM Posted July 8, 2020 Share Posted July 8, 2020 16 hours ago, cheron85 said: Lovely bit of sensationalism from Kieran there Wigan's problem seems to be that their new owners have no money Our problem is our owner has loads of money he's just not allowed to put any of it into the club because of FFP Is that last bit a fact? How do we know that MM does not have his wealth tied up in other assets? Isnt our move to a more sustainable model evidence that he is not going to be an endless pot of cash for the club? Link to comment Share on other sites More sharing options...
ramsbottom Posted July 8, 2020 Share Posted July 8, 2020 I really wish this bamford would duck, the duck off!!! Got a proper dislike for us. Should take his price of a pint, pie & program and shove it right up his ducking arse. Duckin banker!!! Link to comment Share on other sites More sharing options...
SFox1993 Posted July 8, 2020 Share Posted July 8, 2020 12 hours ago, reverendo de duivel said: I think Keiran Maguire is getting a bit of a rough ride here, though it's probably of his own making. He's long been the guy who cuts through the crap and helps the average fan understand just what is happening to their club finance wise. He never used to comment in either a negative or positive way, just laid out the facts and let us make our own minds up. However I do now feel he's fell into the trap of voicing his opinion on such matters, probably because of the media attention he's gathered from his previous work, and the juicy commission's such articles attract. He now seems to be the media's go to guy, yet he's no Swiss Ramble. To be honest he is just a bit of a Bamford Link to comment Share on other sites More sharing options...
ThePrisoner Posted July 8, 2020 Share Posted July 8, 2020 I wonder if there's a global pandemic that means delays with filings may be encountered or other such delays with Companies House actually scanning in the documents and uploading them online. Anyone heard owt? Anything? Link to comment Share on other sites More sharing options...
Eddie Posted July 8, 2020 Share Posted July 8, 2020 11 hours ago, Mostyn6 said: this makes me sad for the lack of ramblur. I know he was not well, and he often said he was on borrowed time, assuming he is no longer with us. I used to get regular emails from him. They stopped about a year ago. Link to comment Share on other sites More sharing options...
Eddie Posted July 8, 2020 Share Posted July 8, 2020 37 minutes ago, ramsbottom said: I really wish this bamford would duck, the duck off!!! Got a proper dislike for us. Should take his price of a pint, pie & program and shove it right up his ducking arse. Duckin banker!!! That's only possible if he converts them to Creme Eggs. Link to comment Share on other sites More sharing options...
Chris_D Posted July 8, 2020 Share Posted July 8, 2020 Cos House are not taking any calls due to Covid and have a “significant backlog” of paper documents according to their twitter - ten days they say. Likely nothing to worry about for us. Link to comment Share on other sites More sharing options...
Day Posted July 8, 2020 Share Posted July 8, 2020 25 minutes ago, ThePrisoner said: I wonder if there's a global pandemic that means delays with filings may be encountered or other such delays with Companies House actually scanning in the documents and uploading them online. Anyone heard owt? Anything? Like something that would prevent people from working as usual for a few months? You been on the Sherry already? Link to comment Share on other sites More sharing options...
Ghost of Clough Posted July 8, 2020 Share Posted July 8, 2020 It's also worth noting it often takes up to 2 weeks after submitting the documents to Companies House for the accounts to be published online(even without a global pandemic causing a backlog). Link to comment Share on other sites More sharing options...
Tamworthram Posted July 8, 2020 Share Posted July 8, 2020 46 minutes ago, ThePrisoner said: I wonder if there's a global pandemic that means delays with filings may be encountered or other such delays with Companies House actually scanning in the documents and uploading them online. Anyone heard owt? Anything? I think you're clutching at straws there. That's why every company has been given an additional three months to file their returns. To be honest, I appreciate that other companies are far more complex than mine was, but I don't really understand why i should take nine months under normal circumstances. My guess is that it's purely down to the EFL charges. Link to comment Share on other sites More sharing options...
Spanish Posted July 8, 2020 Share Posted July 8, 2020 5 minutes ago, Tamworthram said: I think you're clutching at straws there. That's why every company has been given an additional three months to file their returns. To be honest, I appreciate that other companies are far more complex than mine was, but I don't really understand why i should take nine months under normal circumstances. My guess is that it's purely down to the EFL charges. are our accounts audited? Most of my problems in the accounts area come from a significant reluctance for auditors to sign off on anything these days. There's now a covid reliance that requires multiple scenarios to be considered. Maybe it doesn't affect DCFC Link to comment Share on other sites More sharing options...
cheron85 Posted July 8, 2020 Share Posted July 8, 2020 2 hours ago, G STAR RAM said: Is that last bit a fact? How do we know that MM does not have his wealth tied up in other assets? Isnt our move to a more sustainable model evidence that he is not going to be an endless pot of cash for the club? We don't know if for an absolute fact - But he has been quoted on multiple occasions as stating his frustrations with the FFP rules not allowing him to put more money in Link to comment Share on other sites More sharing options...
ThePrisoner Posted July 8, 2020 Share Posted July 8, 2020 1 hour ago, Tamworthram said: I think you're clutching at straws there. That's why every company has been given an additional three months to file their returns. To be honest, I appreciate that other companies are far more complex than mine was, but I don't really understand why i should take nine months under normal circumstances. My guess is that it's purely down to the EFL charges. I was on about on Companies House side of things. Not us as @Ghost of Clough alluded to below me. Link to comment Share on other sites More sharing options...
Tamworthram Posted July 8, 2020 Share Posted July 8, 2020 52 minutes ago, Spanish said: are our accounts audited? Most of my problems in the accounts area come from a significant reluctance for auditors to sign off on anything these days. There's now a covid reliance that requires multiple scenarios to be considered. Maybe it doesn't affect DCFC They will be audited and I can understand auditors may be reluctant to sign off but surely only because of potential anomalies and things they're not happy with. Other than delays in getting the documents in front of people, reviewed and signed off (hence the extra three months every company has been given) I can't really think of any Covid related issues that could cause a delay especially as the accounts relate to a period before any of us had even heard of CV-19. Every other club in the championship have managed to file their accounts on time and all, except Sheffield Wednesday, have a year end the same as ours (30th June) or 31st May. Sheffield Wednesday are due to file theirs by 31st July 2020 so, I would imagine, there is a high risk that they will miss their deadline also. I'm sure it is all to do with with the EFL hearings which is really no great surprise and therefore the late filing in itself is a bit of a none story. Link to comment Share on other sites More sharing options...
Tamworthram Posted July 8, 2020 Share Posted July 8, 2020 4 minutes ago, ThePrisoner said: I was on about on Companies House side of things. Not us as @Ghost of Clough alluded to below me. Still clutching at straws. Companies house have managed to process and record every other championship clubs accounts on time. Link to comment Share on other sites More sharing options...
RadioactiveWaste Posted July 8, 2020 Share Posted July 8, 2020 No, I'm not buying it's anything other than waiting on any upshot from the EFL stuff. We've probably prepared set "A" with one pile of 10 beans and set "B" with 2 piles of 5 beans because the EFL are unhappy with our previous piles of beans methodology. I don't believe the club are unwilling or unable to produce proper accounts in a timely manner. Link to comment Share on other sites More sharing options...
Spanish Posted July 8, 2020 Share Posted July 8, 2020 29 minutes ago, Tamworthram said: They will be audited and I can understand auditors may be reluctant to sign off but surely only because of potential anomalies and things they're not happy with. Other than delays in getting the documents in front of people, reviewed and signed off (hence the extra three months every company has been given) I can't really think of any Covid related issues that could cause a delay especially as the accounts relate to a period before any of us had even heard of CV-19. Every other club in the championship have managed to file their accounts on time and all, except Sheffield Wednesday, have a year end the same as ours (30th June) or 31st May. Sheffield Wednesday are due to file theirs by 31st July 2020 so, I would imagine, there is a high risk that they will miss their deadline also. I'm sure it is all to do with with the EFL hearings which is really no great surprise and therefore the late filing in itself is a bit of a none story. Covid tends to be going concern issues. How long will it take for revenues to return? What happens if ST sales are dramatically lower and many other obscure issues. Then it is likely to have to go to a senior partner to sign off. I have one that is currently 6 months overdue purely down to the covid scenario assessment Link to comment Share on other sites More sharing options...
Nookiebear1 Posted July 8, 2020 Share Posted July 8, 2020 2 hours ago, Eddie said: I used to get regular emails from him. They stopped about a year ago. Not replied on here for yonks but that's really sad to hear. I do Hope he's OK. I never really understood the whole financial situation but I felt better people like Ramblur tried his best to explain it to thickos like me? Link to comment Share on other sites More sharing options...
Tamworthram Posted July 8, 2020 Share Posted July 8, 2020 22 minutes ago, Spanish said: Covid tends to be going concern issues. How long will it take for revenues to return? What happens if ST sales are dramatically lower and many other obscure issues. Then it is likely to have to go to a senior partner to sign off. I have one that is currently 6 months overdue purely down to the covid scenario assessment I'm not an accountant but surely the main body of the annual submission is factual (if there is such a thing in accountancy) performance for the twelve months up to the end of the financial year and financial position in terms of current assets and liabilities as at that specific time. Any reference in either the directors reports or audtitor's comments regarding current and future trading (in particular relating to uncertainty over Covid 19) shouldn't delay submission and should be the best they can provide at that moment in time. If anyone is waiting for some certainty over the medium to long term effects of CV 19 on a companies trading then I suspect they'll have a bit to wait yet. With regard to the one you have that is six months overdue, who will be paying the late submission fine do you think? I would add again, every other club in the championship have managed to submit on time. Link to comment Share on other sites More sharing options...
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