Accounts Year end 31st July

[cherrywood]

accounts not filed for last year noted on companies house as being overdue does that mean we will have transfer embargo again

 

[chapperzUK]

I wouldn't have thought so, just will pay a fine. It is pretty certain we will have an embargo at some point during the transfer window, so maybe best to get it out the way now ....

 

[Smiffy]

Probably. Standard practise for us unfortunately.

 

[dannypav]

accounts not filed for last year noted on companies house as being overdue does that mean we will have transfer embargo again

Sorry that your first post had to be on one of the many negative issues surrounding SUFC.
Welcome to SZ and may you have many days of happy posting !

 

[Firestorm]

I wouldn't have thought so, just will pay a fine. It is pretty certain we will have an embargo at some point during the transfer window, so maybe best to get it out the way now ....

IIRC its a fine from Companies house (150 quid if its only a month late) and one of the penalties for late filing to the Football League is an embargo (Filing to the Football League is on the same timescales as companies house)

The last set of accounts (31/7/2011) were not filed until August 9th over 3 months late (£750 fine)

 

[C C Csiders]

And indeed, it will all end in tears.

 

[Lester Bangs]

Its a crying shame.

 

[chapperzUK]

IIRC its a fine from Companies house (150 quid if its only a month late) and one of the penalties for late filing to the Football League is an embargo (Filing to the Football League is on the same timescales as companies house)

The last set of accounts (31/7/2011) were not filed until August 9th over 3 months late (£750 fine)

I forgot they had to go to the FL too. As it was late last year, I believe the fine this year will be doubled.

 

[Jam_Man]

As long as the are filed in time for when we want to sign players it should be fine. Last year we got in the situation we were trying to register players and couldnt until the accounts were submitted to the league, hopefully we wont make the same mistake again.

 

[Firestorm]

I forgot they had to go to the FL too. As it was late last year, I believe the fine this year will be doubled.

yep, didn't see that bit

"The penalties will be doubled if a company files its accounts late in 2 successive financial years beginning on or after 6 April 2008"

 

[Smiffy]

Why are we late every year?

What is the problem with filing accounts on time, it is not hard.

Is it we cannot afford the accountancy bill?

Or just sheer incompetence?

All it ends up doing is costing us money and an embargo (Again)

 

[Mick]

Why are we late every year?

What is the problem with filing accounts on time,

We wouldn't want our books under-cooked now, would we?

 

[Napster]

Why are we late every year?

What is the problem with filing accounts on time, it is not hard.

Is it we cannot afford the accountancy bill?

Or just sheer incompetence?

All it ends up doing is costing us money and an embargo (Again)

10% of companies don't file on time.

http://www.companieshouse.gov.uk/freedomInformation/infoReleasedPDFs/discLog189.pdf

 

[Beefy]

A lot of much bigger companies than us don't file their accounts on time. It really isn't a massive deal - particularly if we do submit enough financial information to the League to avoid an embargo.

To answer Smiffy's question, wasn't the issue last year to do with getting the Auditor to sign off? The Auditor needs to sign-off on our ability to continue as a going concern. Because we're a football club and therefore have a completely unbusiness-like and unsustainable business model that ability is completely dependent on ongoing support from third parties and therefore for us filing accounts isn't just about providing a snapshot about where we were ten months ago, it's about showing how we're still going to be here in 12 months time. I'm sure that a lot of clubs will be filing late for the same reason.

 

[Smiffy]

10% of companies don't file on time.

http://www.companieshouse.gov.uk/freedomInformation/infoReleasedPDFs/discLog189.pdf

No excuse.

How many of those are football clubs?

From memory we were 1 of about 4 that filed late last year.

It's just mickey mouse and totally sums up the operation.

 

[cherrywood]

we would all like to sees Rons reply to how we're still going to be here in 12 months time

 

[Smiffy]

A lot of much bigger companies than us don't file their accounts on time. It really isn't a massive deal - particularly if we do submit enough financial information to the League to avoid an embargo.

To answer Smiffy's question, wasn't the issue last year to do with getting the Auditor to sign off? The Auditor needs to sign-off on our ability to continue as a going concern. Because we're a football club and therefore have a completely unbusiness-like and unsustainable business model that ability is completely dependent on ongoing support from third parties and therefore for us filing accounts isn't just about providing a snapshot about where we were ten months ago, it's about showing how we're still going to be here in 12 months time. I'm sure that a lot of clubs will be filing late for the same reason.

It is a deal if we are fined and handed another embargo.

Bet that will please Mr Brown.

Welcome to Southend Sir.

 

[undercovershrimper]

we would all like to sees Rons reply to how we're still going to be here in 12 months time

Shouldnt be a problem. We are going to break even this year so next season, he will just pump in the money he would of this year.

 

[Jam_Man]

No excuse.

How many of those are football clubs?

From memory we were 1 of about 4 that filed late last year.

It's just mickey mouse and totally sums up the operation.

Who is going to be nice enough to go check all of League Two? Would be nice to see who else hasnt filed.

 

[chapperzUK]

Who is going to be nice enough to go check all of League Two? Would be nice to see who else hasnt filed.

Aldershot have submitted theirs and they look like they are in deep trouble!