Breaking News HMRC Winding-Up Petition - Wed 17th May 2023 - ADJOURNED TO 12th JULY

[Smiffy]

Do we still need 2022 in or just 2020 and 2021?

That's my concern as technically we are still a year behind with reporting.

Hopefully the 2020 & 2021 accounts are enough to keep the NL happy for now.

I still can't believe we were actually minutes away from our membership being revoked and possibly playing Isthmian league football. This has to end, now. Get it done Ron.

 

[hlane17]

Long may his bollocks float in sulphuric acid.

That's a new one

 

[Napster]

Fancy giving a brief rundown for us Naps.

Revenue is down massively. (In 2021 alone, we lost £500,000 worth of advertising revenue)
£1m a year operational loss

Still believes stadium will start to be built in Autumn,

 

[amsemp]

How did we make £1.1m in player trading income for 20/21?!

 

[stortford]

Revenue is down massively. (In 2021 alone, we lost £500,000 worth of advertising revenue)
£1m a year operational loss

Still believes stadium will start to be built in Autumn,

So needs that certificate for RH for next year

 

[hlane17]

How did we make £1.1m in player trading income for 20/21?!

Presumably the fire sale of anyone half decent at the season start?

 

[meerkat54]

Just got in from work .
This part of the topic may have been covered, if so my apologies.
Does this now mean that if our debts are not cleared and all accounts are not up to date by next Monday, we are very likely to be kicked out of the league? Where do we go from there NL south?
Won’t the potential buyers want to renegotiate the takeover offer and want to pay a lot less if they are still even interested.
If we are relegated won’t the club be worth a lot less?
I know there is many unanswered questions, so many problems to overcome and very little time.

 

[Napster]

How did we make £1.1m in player trading income for 20/21?!

Kelman? Humphreys? Hutchinson?

 

[flangejackrabbit]

Rent and management charges have been changed to Nil. Interesting.

 

[amsemp]

Presumably the fire sale of anyone half decent at the season start?

Humphrys, Hutchinson and Kelman. Struggling to see that’s £1.1m of income. Unless we sold off some prospects from the academy.

 

[summercamp]

Humphrys, Hutchinson and Kelman. Struggling to see that’s £1.1m of income. Unless we sold off some prospects from the academy.

Kenny Coker? Also didn't a youth keeper go to Man City?

 

[Napster]

Kenny Coker? Also didn't a youth keeper go to Man City?

George Murray Jones.

 

[TJC]

So those accounts haven't been whipped up in a day, so he must have been sitting on them as he doesn't want them to be seen? How could a sale go through without accounts being up to date? That must be a given for anyone to consider taking us on, no?

 

[basilrobbie]

Does this now mean that if our debts are not cleared and all accounts are not up to date by next Monday, we are very likely to be kicked out of the league? Where do we go from there NL south?

Hopefully it won't come to this. But if the National League kick you out, I don't see how that just means demotion. The NLS is still their league. It would be at least the next step down, wouldn't it?

 

[Yorkshire Blue]

How did we make £1.1m in player trading income for 20/21?!

Mainly Dru Yearwood. He left in August 2019 but the transfer fee would likely be paid in instalments. We would have also then earned from his big move to NY Red Bulls in Aug 2020.

We’d likely have also got a chunk for Tom Hopper who was sold in Jan 2020 but again payment might have been in instalments (although given that was a fire sale I expect Ron demanded a big chunk of that up front).

 

[crangoner]

So those accounts haven't been whipped up in a day, so he must have been sitting on them as he doesn't want them to be seen? How could a sale go through without accounts being up to date? That must be a given for anyone to consider taking us on, no?

If you read the strategic report on the 2020 filling 'penned' by RM, they were signed off as of yesterday.

 

[Blues4LifeDan]

So just rereading the article and what I can gather is:

• We filed the necessary accounts to appease the National League.
• We were supposed to pay the players and staff today or they could leave for nothing but that remit may be revoked if we can provide evidence of a sale to the judge.
• The National League want the HMRC debt settled before the 2nd June, unless the club can provide solid evidence of a sale.
• I presume the club have been allowed access to their frozen account to pay the accountants so they could file the accounts today. Therefore, there should be capital in that account to pay the playing staff.

So going forward, we are looking for Ron to prove to the judge that an imminent sale is in the pipeline, otherwise we will be thrown out of the league.

 

[Wingnut]

Is this the same bank account he spoke of last year ,regarding he could not access to

 

[Supershrimper]

Does anyone know when or why bank account was frozen. I have not heard this had happened.

It was frozen last year… that’s why it was cash only on season tickets

It was frozen due to the winding up order. If it was frozen last year we wouldn't have been able to pay the players (although im sure he probably used it as an excuse) unless Ron was paying in brown envelopes in cash.

 

[Holy Joe]

So those accounts haven't been whipped up in a day, so he must have been sitting on them as he doesn't want them to be seen? How could a sale go through without accounts being up to date? That must be a given for anyone to consider taking us on, no?

Rumour a while ago was the accounts were prepared but not released as we hadn't paid the auditors fees as they weren't considered a priority versus players wages and outgoings essential to getting a match on. The action by NL have made the fees a priority