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SWFC late to file accounts again


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3 minutes ago, billyblack said:

Just keep patting him on the back like a good boy

Keep blaming Companies House who informed everyone that accounts may be delayed for at least two weeks due to staff coming back off furlough 

Edited by daveyboy66
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Whilst there may or may not be good reasons for late filing, from a corporate governance point of view it looks poor and impacts on the confidence people, especially professionals such as the bank etc,  will have in the management of the club as a business. 

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1 hour ago, SiJ said:

Will sell it too late and have it backdated.

 

"Wednesday get charged over sale of golden elephant"

No the elephant was family and ended up leaving for free.lol

He packed his bag and trundled off to the circus.

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Guest mkowl

So have The Star got actual evidence we haven't filed them ?

 

If the accounts were posted - it still is the case many are - then I would not expect to see the record at Companies House updated this week. At the best of times its 5 days in that scenario, I have had delays of 16 days before now.

 

So it could be that, it could be linked to the case and possible re-statement, it could be the auditor refusing to sign until the outcome was known. Immediate relegation and 6m loss in revenue, might just raise the bar on their going concern review. 

Edited by mkowl
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1 minute ago, mkowl said:

So have The Star got actual evidence we haven't filed them ?

 

If the accounts were posted - it still is the case many are - then I would not expect to see the record at Companies House updated this week. At the best of times its 5 days in that scenario, I have had delays of 16 days before now.

 

So it could be that, it could be linked to the case and possible re-statement, it could be the auditor refusing to sign until the outcome was known. Immediate relegation and 6m loss in revenue, might just raise the bar on their going concern review. 

ssshhhh you are puling the rug from under 'the club cant do anything right rants' 

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2 minutes ago, mkowl said:

So have The Star got actual evidence we haven't filed them ?

 

If the accounts were posted - it still is the case many are - then I would not expect to see the record at Companies House updated this week. At the best of times its 5 days in that scenario, I have had delays of 16 days before now.

 

So it could be that, it could be linked to the case and possible re-statement, it could be the auditor refusing to sign until the outcome was known. Immediate relegation and 6m loss in revenue, might just raise the bar on their going concern review. 

 

That can't be right - @room0035 expects to see them online within 24 hours of submission, even under current circumstances! :ghoulguy: 

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36 minutes ago, BARMYARMY2010 said:

Now see, you've done it again, why are YOU embarrassed outraged enough to go on and on and and on, how are the accounts affecting what and how you go about your daily business? 

Why do i have to explain anything to you?

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Guest mkowl
2 minutes ago, hirstyboywonder said:

 

That can't be right - @room0035 expects to see them online within 24 hours of submission, even under current circumstances! :ghoulguy: 

Well if they were e filed they are shown almost at once. But more involved accounts might still be posted as the formatting can look a bit ropey on the e filed stuff. You can't just email a PDF over.

 

 

 

 

 

 

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11 minutes ago, mkowl said:

So have The Star got actual evidence we haven't filed them ?

 

If the accounts were posted - it still is the case many are - then I would not expect to see the record at Companies House updated this week. At the best of times its 5 days in that scenario, I have had delays of 16 days before now.

 

So it could be that, it could be linked to the case and possible re-statement, it could be the auditor refusing to sign until the outcome was known. Immediate relegation and 6m loss in revenue, might just raise the bar on their going concern review. 

why. The accounts are for last season, not this. Why would immediate relegation affect last seasons accounts?

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34 minutes ago, Chewy24 said:

Whilst there may or may not be good reasons for late filing, from a corporate governance point of view it looks poor and impacts on the confidence people, especially professionals such as the bank etc,  will have in the management of the club as a business. 

at last

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1 minute ago, billyblack said:

at last

Absolute nonsense banks do not insist on businesses forwarding accounts on time unless it means they will not get paid...and banks usually get paid first regardless.. Straws regardless at clutching methinks  lol 

 

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Guest mkowl
Just now, billyblack said:

why. The accounts are for last season, not this. Why would immediate relegation affect last seasons accounts?

Because the company has to assess whether it is a going concern for a period of 12 months from the date of signing the accounts.

 

The auditor has to assess that assessment of going concern.

 

The accountancy regulators have already issued detailed guidance for how auditors re-assess this with covid - which we know will impact football club revenues.

 

But that review will assess budgets for that 12 months henceforth, so relegation would reduce that by 6m so would be incredibly significant 

 

An auditor has to continually assess the company upto the date of signing the accounts.

 

So as you rightly say it does not directly impact the numbers but it absolutely impacts the finalisation process

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