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Possibility of more sanctions looming ?


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4 minutes ago, Harrysgame said:

Sorry that can't be possible. 

We all know that the terms and conditions of this site dictate that:

On any and all occasions DC must be held solely responsible for any problems and incompetence at the  club.

Under no circumstances will he be given the benefit of  the doubt. 😉

 

 

Yeah - you're right


It's not Chansiri's fault we're in this position with the finances or accounts

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Owlstalk Shop

 

 

 

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8 minutes ago, Harrysgame said:

Sorry that can't be possible. 

We all know that the terms and conditions of this site dictate that:

On any and all occasions DC must be held solely responsible for any problems and incompetence at the  club.

Under no circumstances will he be given the benefit of  the doubt. 😉

 

NOV19-Gervais-Laughing.gif.41e525506be7c35f7e6a3b7b748eb6dc.gif

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6 minutes ago, @owlstalk said:

Yeah - you're right
It's not Chansiri's fault we're in this position with the finances or accounts

 

Accounts and Finances are different things though aren't they.

 

Finances - Totally DC's responsibility for the position we are in.

 

Accounts - IMHO it might be outside DC's control to have them submitted - as I said be interesting to know if other Championship clubs are late submitting theirs.

 

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4 hours ago, Lime Tree Heros said:

...be interesting to know if other Championship clubs are late submitting theirs.

 

 

In a story published by The Star in May of last year, of the 44 clubs in the top two divisions, the only ones not to publish up to date accounts were Newcastle, Crystal Palace, Derby and ourselves. The former two of those were filed within the next few weeks of that article. So it seems only one other club (coincidentally the other one sanctioned by the EFL) is in a similar position in the league's upper echelons.

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6 hours ago, Harrysgame said:

Sorry that can't be possible. 

We all know that the terms and conditions of this site dictate that:

On any and all occasions DC must be held solely responsible for any problems and incompetence at the  club.

Under no circumstances will he be given the benefit of  the doubt. 😉

 

Oh my sweet summer child

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16 hours ago, Mcguigan said:

Where were you educated?

Silverdale, UCL, Cranfield.

Trying to pay by IOU, losses maybe even more than £50 million.

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22 minutes ago, Hornsby said:

Silverdale, UCL, Cranfield.

Trying to pay by IOU, losses maybe even more than £50 million.

Without the stadium sale in the 17/18 accounts we'd have posted losses of £36m. 

 

In my opinion, that's as high as it would get, we've certainly not got another £14m on top if that. No chance.

 

I'd reckon, without the stadium sale included in 18/19, we'll post £27-30m losses. With the stadium sale, £3-5m profit.

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Hope you are right.

 

But still had loads of players on £30 k per week , plus,  then.

 

And the losses you quoted were reduced by pre -payments on long-term season ticket sales.

 

They've been washed through in missing financial year - maybe why it's missing, and why Chansiri given up on relegation fight.

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16 hours ago, Lime Tree Heros said:

 

 

Accounts - IMHO it might be outside DC's control to have them submitted - as I said be interesting to know if other Championship clubs are late submitting theirs.

 

How is it outside DCs control, he employs the accountants.

 

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5 minutes ago, Ray Von shabba said:

How is it outside DCs control, he employs the accountants.

 

Because I believe the situation could be that the accountants won't sign off the accounts, which would mean they're certifying that financially SWFC are a 'going concern'. Changing accountants doesn't change this.

 

Accountants have a responsibility to prepare accounts that give a true and fair view - Chansiri can't force them to sign, if they're not happy to do so.

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4 minutes ago, Lime Tree Heros said:

 

Because I believe the situation could be that the accountants won't sign off the accounts, which would mean they're certifying that financially SWFC are a 'going concern'. Changing accountants doesn't change this.

 

Accountants have a responsibility to prepare accounts that give a true and fair view - Chansiri can't force them to sign, if they're not happy to do so.

 

 

What happens in this instance?

Does it become a permanent stalemate?

Is there a way out of it?


 


Owlstalk Shop

 

 

 

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11 hours ago, Blue and white said:

How thefuck is it Gibson's fault our doughnut of an owner is 8 months late submitting the accounts.

 

Well it isn't. 

But my word he's got a slappable face hasn't he.

 

 

 

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Just now, Ballmeist said:

Has anyone said it's probably the fans fault yet, or are we awaiting for the Chan Man to blame us in this next presser? 


A couple of posters have said it's fans to blame

Another said the survey the club put out was fine and nothing wrong with it


etc


 


Owlstalk Shop

 

 

 

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33 minutes ago, @owlstalk said:

 

 

What happens in this instance?

Does it become a permanent stalemate?

Is there a way out of it?

 

I've not personally experienced it, but, maintaining an organisation as a 'going concern' is all about cash and cash is king. So you'd need to change your cash position, reduce expenditure and increase income.

 

We've done / are doing the former, by reducing the wage bill and not paying transfer fees. The latter, unfortunately due to covid we're a bit (a lot) screwed with - I guess that's why Chansiri is seeking alternative investment.

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18 hours ago, Lime Tree Heros said:

 As others have mentioned, IMHO the accounts submission issue is probably down to the 'going concern' issue, that is preventing the auditors from signing off the accounts meaning they can't be submitted.

 

If this is the case I'd expect other EFL clubs (without Prem Parachute payments) to be in the same boat. It would be interesting to know if other Championship clubs are late in submitting their accounts, the information used to be readily available from Companies House.

 

It could be that the accounts submission is beyond Chansiri and SWFC's control.

Which years accounts do you think are late?

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13 hours ago, DJMortimer said:

 

In a story published by The Star in May of last year, of the 44 clubs in the top two divisions, the only ones not to publish up to date accounts were Newcastle, Crystal Palace, Derby and ourselves. The former two of those were filed within the next few weeks of that article. So it seems only one other club (coincidentally the other one sanctioned by the EFL) is in a similar position in the league's upper echelons.

Hard work getting through isn't it.

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