Is anyone remotely concerned ?

[davewebbsbrain]

You seem to have omitted the fact we had no money to pay the players, it had nothing to do with business sense. HMRC wanted us out of business, how is it business sense to present them with an opportunity to do so multiple times?

From an outside view, forgetting the fact that the players were our players and as such we have great affection for them...RM had 2 choices: pay the players and not HMRC and see Southend United cease to exist or pay HMRC and not the players and save the club. Yes, very harsh on the payers, I'd hate not to get paid and it would cripple me, but RM chose to save the club.

Look at us now. We are doing well and I believe the corner has been turned and we are on our way back to good times.

 

[southendkid]

From an outside view, forgetting the fact that the players were our players and as such we have great affection for them...RM had 2 choices: pay the players and not HMRC and see Southend United cease to exist or pay HMRC and not the players and save the club. Yes, very harsh on the payers, I'd hate not to get paid and it would cripple me, but RM chose to save the club.

Look at us now. We are doing well and I believe the corner has been turned and we are on our way back to good times.

Yes of course it's business sense to do that, doing the morally right thing and paying the players would have killed the club. But that's not Rayleigh Boy's theory, he's claiming we had the money to do both but didn't so we'd deliberately get relegated because the costs are more manageable there, which doesn't make any sense to me whatsoever

 

[Firestorm]

I have just got round to having another look at the accounts for the relegation year (the last published accounts) and as much as I look I am unable to see anything relating to 5 million, True there are a couple of loans (cash inflow from loans was 2.2M) but they just go swallowed up and we ended up losing money.

The detail of the loans is a bit interesting, in 2009 we owed 639K to the parent company, 955K to the bank and 275k to directors
In 2010 it was 3.15M to the parent, 552k to Directors and 350K to the bank.

Rayleigh may be confusing the club with the parent company, as they are the owners of RH they will be the only ones who is likely to get money from Sainsbury, I would guess that the Sainsbury money is coming into the club in the way of loans from the parent company.

So theoretically the club has access to 5M (albeit down to 2.75 ish at June 2010) via the parent undertaking but factually the club does not have the money .

Could someone else have a look at the accounts and see if I have missed anything, if anyone finds the 5M in the accounts please tell me where it is.

Thanks

 

[Crawliano]

Could someone else have a look at the accounts and see if I have missed anything, if anyone finds the 5M in the accounts please tell me where it is.

Find the warchest, you find the 5 million, it's tucked away safe with the Freddy cash.

 

[Rattus Norvegicus]

"Is anyone remotely concerned?"

I was concerned (and interested) on page 1 or 2 ........... but come page 6, I find we have diverted past the "reason" and "debate" bus-stops and moved straight onto "conspiracy" and "treachery" .............:headbang:

 

[Jam_Man]

I have just got round to having another look at the accounts for the relegation year (the last published accounts) and as much as I look I am unable to see anything relating to 5 million, True there are a couple of loans (cash inflow from loans was 2.2M) but they just go swallowed up and we ended up losing money.

The detail of the loans is a bit interesting, in 2009 we owed 639K to the parent company, 955K to the bank and 275k to directors
In 2010 it was 3.15M to the parent, 552k to Directors and 350K to the bank.

Rayleigh may be confusing the club with the parent company, as they are the owners of RH they will be the only ones who is likely to get money from Sainsbury, I would guess that the Sainsbury money is coming into the club in the way of loans from the parent company.

So theoretically the club has access to 5M (albeit down to 2.75 ish at June 2010) via the parent undertaking but factually the club does not have the money .

Could someone else have a look at the accounts and see if I have missed anything, if anyone finds the 5M in the accounts please tell me where it is.

Thanks

It was stated when we got that 5 million that it was used for the tax bills and other debts and after everything paid out there was going to be somethinkg like 1.3 million left to take care of future costs.

How this will be visible in the accounts I have no idea but 2.2million was the amount of the big tax bill was it not ? Thiswould be part of the 5 million and as you say already spent.