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1 minute ago, sherlyegg said:

What if auditors refuse to sign off..?

 

 

 

It means we are insolvent I would assume. 

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5 minutes ago, S36 OWL said:

 

It means we are insolvent I would assume. 

Dunno...

The EU auditors wouldn't sign off theirs 19yrs running..

Chansiri thinks we are still in the EU 🤔

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Put simply, as someone who engaged a leading firm of Sheffield accounts to audit my business accounts for many years. The process is generally very straightforward, at least for any well run business.

 

The delay undoubtedly sits with DC. As for the cause of the delay, (as with the last one) it should be a cause for concern and doesn't require too much imagination around the possible reasons. 

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20 minutes ago, sherlyegg said:

What if auditors refuse to sign off..?

 

 

Then it is the Director’s responsibility to find out why and address those issues. If they won’t sign off going concern then he needs to ascertain what they will sign off. Since he is also the owner it should be easy enough even for a man of his limited ability, to get the shareholder to accept the accounts on whatever basis.

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4 minutes ago, Hornsby said:

Am guessing £50 million annual loss.

We’ll have a turnover of around £24m, I’d guess.

 

Care to explain where we’ve spent £74m in 18/19 season?

 

I’d estimate, stadium sale excluded, £28-30m losses or a £5-8m profit if we’ve moved to stadium sale forward a season.

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8 minutes ago, Mcguigan said:

We’ll have a turnover of around £24m, I’d guess.

 

Care to explain where we’ve spent £74m in 18/19 season?

 

I’d estimate, stadium sale excluded, £28-30m losses or a £5-8m profit if we’ve moved to stadium sale forward a season.

Its income thats collapsed.

 

Last Accounts included all long term season ticket sales.

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10 minutes ago, Mcguigan said:

We’ll have a turnover of around £24m, I’d guess.

 

Care to explain where we’ve spent £74m in 18/19 season?

 

I’d estimate, stadium sale excluded, £28-30m losses or a £5-8m profit if we’ve moved to stadium sale forward a season.

So no matter which year we include the stadium sale, we would still break p&s limits. Maybe delaying the release leaves the efl insufficient time to punish us again this season? 

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11 hours ago, Therealrealist said:

Will he get the standard 100 quid fine if he dosnt file his tax returns..or wednesdays tax returns..by the end of this month??

It's up to £3,000 now as they are 7 months late (10 without the govt extension) and the second year they have been late. Still compared to a football clubs outgoings not a lot.

 

I suspect the problem is DC wanting the accounts to say one thing and the audits saying they won't sign their name to that.

 

You never file your figures late if it's good news.

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24 minutes ago, Hornsby said:

Its income thats collapsed.

 

Last Accounts included all long term season ticket sales.

Sorry mate, you appear to make things up as you go along.

 

What income collapsed in 18/19?

 

Also, which long term season tickets were accounted for in 17/18 accounts?

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20 minutes ago, teddybeararmy said:

So no matter which year we include the stadium sale, we would still break p&s limits. Maybe delaying the release leaves the efl insufficient time to punish us again this season? 

This is what I’ve been saying for months but nobody seemed to agree.

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Its obvious from reading this thread that those fans who thought that Chansiri was doing okay and Wednesday had solved their accounts issues are in for a massive massive shock 

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Owlstalk Shop

 

 

 

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15 minutes ago, @owlstalk said:


 

Its obvious from reading this thread that those fans who thought that Chansiri was doing okay and Wednesday had solved their accounts issues are in for a massive massive shock 

That's the reason I started the thread, I know there was a thread already on this subject but I thought I'd highlight the issue because it seemed to have been forgotten about..

Still a lot of wednesdayites in denial about the bad state the club is in.

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30 minutes ago, Mcguigan said:

Sorry mate, you appear to make things up as you go along.

 

What income collapsed in 18/19?

 

Also, which long term season tickets were accounted for in 17/18 accounts?

The 10 year and 3 year initiatives.

 

Chansiri accrued so much income in 17/18 that has  evaporated in following years.   

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12 minutes ago, Hornsby said:

The 10 year and 3 year initiatives.

 

Chansiri accrued so much income in 17/18 that has  evaporated in following years.   

How do you know anything has evaporated when the accounts you're thinking about haven't even been released. Where the 10 year and 3 year deals weren't even available in 17/18 season?

 

image.png.10356c0f2cf4777fa594d43c64877cbc.png

 

Turnover = £9.5m Matchday and £8.5m TV/Media/Central Distributions. £7.1m Commercial ( Retail/Sponsorship/Corporate etc)

 

Again, where is "so much accrued income" you mention?

 

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Guest mkowl
29 minutes ago, Hornsby said:

The 10 year and 3 year initiatives.

 

Chansiri accrued so much income in 17/18 that has  evaporated in following years.   

Accounting standards would require that be spread over the said number of years, so a chunk should be in deferred income not thru the P and L account - the relevant bit for FFP.

 

If we didn't then the EFL would adjust for their purposes

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Guest mkowl
13 minutes ago, Mcguigan said:

How do you know anything has evaporated when the accounts you're thinking about haven't even been released. Where the 10 year and 3 year deals weren't even available in 17/18 season?

 

image.png.10356c0f2cf4777fa594d43c64877cbc.png

 

Turnover = £9.5m Matchday and £8.5m TV/Media/Central Distributions. £7.1m Commercial ( Retail/Sponsorship/Corporate etc)

 

Again, where is "so much accrued income" you mention?

 

In the balance sheet, other creditors. Standard accounting practice 

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27 minutes ago, Hornsby said:

The 10 year and 3 year initiatives.

 

Chansiri accrued so much income in 17/18 that has  evaporated in following years.   

Multi year season tickets having nothing to do with boosting revenue in the income statement in year 1. The income from a 3 year ticket will be recognised 1/3rd in each of the respective season. What multi year season tickets are all about is cash and getting it in early to pay this years bills with next years income. The trouble is then what happens next year...

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