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DCFC Fans Forum on the creditors list


overlandandsea

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1 minute ago, Sparkle said:

If we paid the them £100,000 as ordered then they Chuck point deductions at us isn’t that double counting 

Don't think so.

I thought the £100k fine was for misdemeanour A.  (completely forgot what that was for, but they got us for it!)
The -12 points for going into administration.
The -9 points was part of an "agreement"(ahem!) between EFL and our admin bods, to clear the decks and pave the way to a potential sale.

3 separate issues, is my understanding? 

I'm not often right mind, and rarely understand these things, so rest assured I won't stand in your way, if you want to prove me wrong and make me look silly.  You won't be the first.  ? 

 

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25 minutes ago, David said:

Well today we have received £270 worth of donations before PayPal fees which is incredible, I honestly can't thank members enough.

I have just filed the 20/21 tax year accounts last week for the forum, can send you a copy if you like?

Bit late aren’t they? 

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1 hour ago, Mucker1884 said:

Don't think so.

I thought the £100k fine was for misdemeanour A.  (completely forgot what that was for, but they got us for it!)
The -12 points for going into administration.
The -9 points was part of an "agreement"(ahem!) between EFL and our admin bods, to clear the decks and pave the way to a potential sale.

3 separate issues, is my understanding? 

I'm not often right mind, and rarely understand these things, so rest assured I won't stand in your way, if you want to prove me wrong and make me look silly.  You won't be the first.  ? 

 

I think you’re right, 3 separate things :


1 £100k for using accounting policies not reflecting FRS 102 (maybe also for misleading notes in accounts). More than a misdemeanour in truth

2 12 points for admin 

3 9 points for multiple P&S breaches following re-delivery of accounts using straight line amortisation 

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9 hours ago, kevinhectoring said:

I think you’re right, 3 separate things :


1 £100k for using accounting policies not reflecting FRS 102 (maybe also for misleading notes in accounts). More than a misdemeanour in truth

2 12 points for admin 

3 9 points for multiple P&S breaches following re-delivery of accounts using straight line amortisation 

The £100k was for the breach of accounting standard. (which wasn't properly proven in my view).

The 21 points were just the deal with the EFL. We will never know how that breaks down.  We were due to get 12 points for going into admin unless we succesfully appealed. We were due to get P& S deductions if we redid our accounts on a different basis.. that may have been more  than 9 points if the EFL got their way.

In the end I think the admin team just caved in because they want to close the deal to sell the club, and accepted an overall 21 points.   

 

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19 minutes ago, EtoileSportiveDeDerby said:

Aplogies if i missed it but do we have an overall figure of the debt owed to creditors and then whats owed to Mel?

About £120 million owed to Mel.. but don't worry we are not paying that one. About £65 million owed to other creditors. I think most of that will be paid by the new owners.

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54 minutes ago, PistoldPete said:

About £120 million owed to Mel.. but don't worry we are not paying that one. About £65 million owed to other creditors. I think most of that will be paid by the new owners.

I wonder how much of the 65 million will actually be paid though, 30%?

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