Pre-Match Thread HMRC v SUFC - FINAL hearing on 1st March. DISMISSED

[Murkey_Mouse]

Companies house has ended the compulsory striking off order on Southend United - updated today

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What that mean?

 

[Murkey_Mouse]

Alot of this finance stuff goes over my head, but the fact it says it's been discontinued and being processed is a good thing right???

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Being a Polish guy, I have seen our clubs in Poland got bankrupt and wound up or end up starting in bottom division (6th division). I don’t want it happening to a very English club that I hold dear to my heart (after Legia Warsaw). All I got is an hope.

PS: I won’t be at York game as I am in Lowestoft with the gangs for weekend trip at Holiday park, I am wearing SUFC shirt with pride

 

[Holy Joe]

What that mean?

If a striking off order is carried out the company ceases to exist. Companies House issued a warning due to us not filing accounts, they have now removed the threat of this. There are other posts here that speculate why that is, so I won't repeat.

 

[Murkey_Mouse]

If a striking off order is carried out the company ceases to exist. Companies House issued a warning due to us not filing accounts, they have now removed the threat of this. There are other posts here that speculate why that is, so I won't repeat.

Seeing other post, it’s mean a company can trade again after their account is filed, I just clutching the straws in hope something happened in next 10 days.

 

[Callum]

Come on people I hear Ron Martin is going to win the lottery lol

 

[Murkey_Mouse]

Come on people I hear Ron Martin is going to win the lottery lol

You are Callum Powell, I claim my £5

 

[Callum]

You are Callum Powell, I claim my £5

Wish I was lol long beard and everything ha

 

[Murkey_Mouse]

Damn I won’t get my £5

Wish I was lol long beard and everything ha

 

[Evening Echo]

JEFF Stelling spoke of Southend United’s ‘perilous situation’ live on Sky Sports’ Soccer Saturday show.

Read more on this story


Help with Echo links

 

[Wise Head]

Does anyone know if there is a government grant of £30 million due when the housing at FF starts? It was mentioned when the planning permission was granted. If this is the case is the £30 million paid when the building starts or in stages? Who will be the recipient of the grant? If it is Ron or one of his companies is this the basis of his bridging loan?

 

[Yorkshire Blue]

Does anyone know if there is a government grant of £30 million due when the housing at FF starts? It was mentioned when the planning permission was granted. If this is the case is the £30 million paid when the building starts or in stages? Who will be the recipient of the grant? If it is Ron or one of his companies is this the basis of his bridging loan?

A grant won’t be to Ron but to the development company(ies?). IIRC Ron isn’t a director of any of the development companies but his son is.

 

[tommy tucker]

Wha

What that mean?

Does it meen the club has finaly submitted the account that company house wanted ???

 

[tommy tucker]

Does anyone know if there is a government grant of £30 million due when the housing at FF starts? It was mentioned when the planning permission was granted. If this is the case is the £30 million paid when the building starts or in stages? Who will be the recipient of the grant? If it is Ron or one of his companies is this the basis of his bridging loan?

I thought a goverment grant of over 60millon was a grant for the new stadium devlopment .I could be wrong on this matter .

 

[class]

For those wondering how the process works with regards to Co House and striking off actions, when any company gets behind with the filing of its accounts or annual confirmation statement, Companies House will issue a Compulsory Strike Off notice. This appears in the London Gazette, as a form of notification that the company 'may no longer exist' to external agencies, third parties, HMRC etc, credit agencies etc.

If any of these third parties object to the company being struck off, they can notify Co House. This is likely to happen if you are a creditor of said company, and don't want the money you are owed to 'disappear'.
In our case, HMRC would have objected, and that is why the compulsory strike off action has been continued.

Striking off is entirely different to bring wound up.

Hope this helps a little!

 

[stortford]

Doesn't need to be HMRC (assuming they are the largest "non-friendly" creditor). Could just as easily be the programme producers, St John's Ambulance, someone owed their wages or pay off or anyone else on the presumably long list of creditors.

 

[Strykr]

A grant won’t be to Ron but to the development company(ies?). IIRC Ron isn’t a director of any of the development companies but his son is.

This is what i dont really understand, this whole business of "we'll be fine when funds are released due to different stages of the build"

I assume this money is for actually building stuff not to pay sufc wages and club bills?

Or is a portion of this released money going into rons pocket as profit he can then use on paying players wages and club bills?

Someone enlighten me.

 

[kentblues]

This is what i dont really understand, this whole business of "we'll be fine when funds are released due to different stages of the build"

I assume this money is for actually building stuff not to pay sufc wages and club bills?

Or is a portion of this released money going into rons pocket as profit he can then use on paying players wages and club bills?

Someone enlighten me.

I believe is something like this. The development needs to buy the land to build on - the land owners (e.g. Ron) are contractually committed to providing said land at an agreed value as land with appropriate planning permission, and with payment due as the land is made available. So as we move out of B&L that land becomes available for the next stage of the build and the development makes agreed payment for said land.

Ron then has funds to recapitalise club.

 

[Strykr]

I believe is something like this. The development needs to buy the land to build on - the land owners (e.g. Ron) are contractually committed to providing said land at an agreed value as land with appropriate planning permission, and with payment due as the land is made available. So as we move out of B&L that land becomes available for the next stage of the build and the development makes agreed payment for said land.

Ron then has funds to recapitalise club.

So essentially its like an advance on rons eventual profits on the whole development, some of which he will use to fund the building and some to pay for sufc?

And presumably any of these "profits" he is making from this and putting back into paying for the club will be added to the amount ron is "owed" from sufc...

 

[kentblues]

So essentially its like an advance on rons eventual profits on the whole development, some of which he will use to fund the building and some to pay for sufc?

And presumably any of these "profits" he is making from this and putting back into paying for the club will be added to the amount ron is "owed" from sufc...

You have to think as the development as one entity (with a company of son of Ron and Dellal company as equal owners) and Ron as land owner as another separate entity. No advance- just the developer buying the land to develop on.

Yes I assume it will add to the inter company debt. And he will be owed it- just like the rest of it. Being owed it and ever getting it are two very different things.

 

[Strykr]

You have to think as the development as one entity (with a company of son of Ron and Dellal company as equal owners) and Ron as land owner as another separate entity. No advance- just the developer buying the land to develop on.

Yes I assume it will add to the inter company debt. And he will be owed it- just like the rest of it. Being owed it and ever getting are two very different things.

Thanks for that.

It is quite convoluted and throw in the housing etc....

It would be nice to have a clear and concise guide to all this, there is so much misinformation thrown around here its a mess.