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The LATE accounts


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Guest Grandad
Just now, Costello 77 said:

I wonder if this is to do with some cat and mouse strategy that could be bundled up with our divisional status in a complicated takeover deal?

I do love the genius master plan conspiracies 😂

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5 minutes ago, Grandad said:

 

 

I'd imagine this is reasonably close

 

Or there may well be a disagreement over statements in the accounts that the Chairman is refusing to sign off, but the auditors require to be in there

 

Its mostly conjecture - we'll never know I guess

 

There is no other logical reason in truth other than this. I still think going concern is my favourite given its such a hot topic in the profession.

 

As you say unless I am sat in the auditors office its no more than educated conjecture

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1 minute ago, mkowl said:

 

There is no other logical reason in truth other than this. I still think going concern is my favourite given its such a hot topic in the profession.

 

As you say unless I am sat in the auditors office its no more than educated conjecture

Thanks for confirming that it's a strategy in a complicated takeover deal MK.

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11 minutes ago, Ginner said:

Plausible as in legitimate and within the rules, such that we won't incur penalties from EFL? Or plausible as in the dog chewed them up? 

 

Unless you have been involved in audit work and on the receiving end of a cross examination of how you reached your conclusion, adequacy of evidence etc its hard to explain it.

 

I did and that is why I got out that game a couple of years ago. 

 

With some high profile business failures since that has got even more onerous, notwithstanding a slightly high profile situation over the stadium sale that cannot have escaped the attention of the regulators 

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4 minutes ago, mkowl said:

 

Unless you have been involved in audit work and on the receiving end of a cross examination of how you reached your conclusion, adequacy of evidence etc its hard to explain it.

 

I did and that is why I got out that game a couple of years ago. 

 

With some high profile business failures since that has got even more onerous, notwithstanding a slightly high profile situation over the stadium sale that cannot have escaped the attention of the regulators 

 

With the sale being 'recorded' in the 2017/2018 accounts, is that essential it now - from an accountancy perspective?

 

I mean, could DC say, actually the legal contract wasn't done until after 31st July 2018, thus now being shown in 2018/19 accounts? In the end, the urgency to register the deal before 31st July 2018 has now fallen away since we got docked points.

 

Would there be any benefit for DC to show the sale in the 2018/19 accounts?

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2 minutes ago, Animis said:

 

With the sale being 'recorded' in the 2017/2018 accounts, is that essential it now - from an accountancy perspective?

 

I mean, could DC say, actually the legal contract wasn't done until after 31st July 2018, thus now being shown in 2018/19 accounts? In the end, the urgency to register the deal before 31st July 2018 has now fallen away since we got docked points.

 

Would there be any benefit for DC to show the sale in the 2018/19 accounts?

Not that I can see.

There would be a benefit in masking a potential points deduction if takeover negotiations were at a delicate stage however.

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12 minutes ago, Animis said:

 

With the sale being 'recorded' in the 2017/2018 accounts, is that essential it now - from an accountancy perspective?

 

I mean, could DC say, actually the legal contract wasn't done until after 31st July 2018, thus now being shown in 2018/19 accounts? In the end, the urgency to register the deal before 31st July 2018 has now fallen away since we got docked points.

 

Would there be any benefit for DC to show the sale in the 2018/19 accounts?

 

The crux is its got to be in the 2018 accounts or 2019 accounts. 

 

The EFL said it shouldn't

 

But that is for their purpose it has no legal basis to force them to be changed 

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6 minutes ago, Costello 77 said:

Not that I can see.

There would be a benefit in masking a potential points deduction if takeover negotiations were at a delicate stage however.

 

Possibly - delaying the sale funds a year would presumably benefit DC in the FFP rolling 3-yr assessment for a further year.

 

I'll be honest I'm not sure if the EFL have accepted the sale in 2018/19 season already.

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Can someone talk me through the historic debt that the ground is secured against. In fact is that right -  is that what’s happened?

 

If it is, given Wednesday don’t own the ground how can a club debt be secured against it? Does that mean the debt has been transferred to the company owning the ground and Wednesday now owe that company? 
 

Will any of this be reflected in the accounts? 

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2 hours ago, Ginner said:

Can someone remind me, which tax year accounts are we waiting for? 

It's that bad that I genuinely can't recall myself. 

 

Chuffing embarrassing. You just know that once they're out in public they'll make terrible reading too. 

 

I'm going to pre-flounce about it now to avoid having to flounce when they come out and can just "get on with it".

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1 minute ago, sherlyegg said:

What's chansiri got to do with releasing accounts?

Apologies, I was under the impression he owned the club.  He told everyone the accounts would be released shortly.  Why haven’t they........?

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