Inspector Lestrade Posted June 29, 2021 Share Posted June 29, 2021 9 hours ago, Hornsby said: Who would pay £60 million for that? Lot less, would also crash S3 ltd and call valuation into question. Especially by tax agencies. I'd pay a King's ransom for it ... A thing of majestic beauty. Link to comment Share on other sites More sharing options...
Guest Hornsby Posted June 30, 2021 Share Posted June 30, 2021 15 hours ago, Inspector Lestrade said: I'd pay a King's ransom for it ... A thing of majestic beauty. At last , we agree. North Stand should be listed , grade 2 min. Link to comment Share on other sites More sharing options...
maidstoneowl Posted June 30, 2021 Share Posted June 30, 2021 this mean we never to go new stadia? always there at the same site? ?? this could stop big expand no? Link to comment Share on other sites More sharing options...
Guest Hornsby Posted June 30, 2021 Share Posted June 30, 2021 1 hour ago, maidstoneowl said: this mean we never to go new stadia? always there at the same site? ?? this could stop big expand no? No, no, yes. Gives Council a little power on use of stadium . But may make transparent some of the dealings behind ground, for example who did £60 million valuation and have club been paid and are they ponying up £3 million annual rent. Link to comment Share on other sites More sharing options...
pahowl Posted June 30, 2021 Share Posted June 30, 2021 1 hour ago, Hornsby said: But may make transparent some of the dealings behind ground, for example who did £60 million valuation and have club been paid and are they ponying up £3 million annual rent. Please explain how the stadium being designated an ACV would make these transactions transparent? The stadium was valued by these guys www.wevlaueyourstadium.com Link to comment Share on other sites More sharing options...
Guest Hornsby Posted June 30, 2021 Share Posted June 30, 2021 1 hour ago, pahowl said: Please explain how the stadium being designated an ACV would make these transactions transparent? The stadium was valued by these guys www.wevlaueyourstadium.com Cos it would trigger a revaluation which would need to be detailed in S 3 ltd public accounts. And last valuer now outta school. Link to comment Share on other sites More sharing options...
Inspector Lestrade Posted June 30, 2021 Share Posted June 30, 2021 8 hours ago, Hornsby said: At last , we agree. North Stand should be listed , grade 2 min. You was one my favourite players ever. Link to comment Share on other sites More sharing options...
wellbeaten-the-owl Posted June 30, 2021 Share Posted June 30, 2021 2 hours ago, Hornsby said: Cos it would trigger a revaluation which would need to be detailed in S 3 ltd public accounts. And last valuer now outta school. The ACV would not on its own trigger any valuation,. Link to comment Share on other sites More sharing options...
pahowl Posted June 30, 2021 Share Posted June 30, 2021 3 hours ago, Hornsby said: Cos it would trigger a revaluation which would need to be detailed in S 3 ltd public accounts. And last valuer now outta school. What makes you think that,? ACV application only affects any change of ownership procedures. The valuation will have been based on the rental return, that hasn't changed. Property is worth what you are prepared to pay for it, and Sheffield 3 were prepared to pay £60m. How much would you pay for it? Link to comment Share on other sites More sharing options...
pahowl Posted June 30, 2021 Share Posted June 30, 2021 From FRS102 Section 16 – Investment Property Summary Section 16 deals with the accounting for investment property. It only applies to investment property whose fair value can be measured reliably without undue cost or effort. If this is not the case then the property falls within the scope of section 17, property, plant and equipment. If it cannot be measured without undue cost then the depreciated cost model applies. So where does it say you have to have a valuation carried out? Link to comment Share on other sites More sharing options...
Guest wilyfox Posted June 30, 2021 Share Posted June 30, 2021 I don’t understand. Link to comment Share on other sites More sharing options...
pahowl Posted June 30, 2021 Share Posted June 30, 2021 Basically getting Hillsborough stadium registered as an ACV will NOT cause anyone to have the property revalued. And therefore no adjustment in the accounts of Sheffield 3 Limited . Link to comment Share on other sites More sharing options...
pahowl Posted June 30, 2021 Share Posted June 30, 2021 Nor will the ACV stop Sheffield 3 Limited being sold as a company with the property therein Link to comment Share on other sites More sharing options...
pahowl Posted June 30, 2021 Share Posted June 30, 2021 Nor will it increase transparency in relations to leases/ valuations or previous transactions in the property Link to comment Share on other sites More sharing options...
SWFC Trust Posted July 1, 2021 Author Share Posted July 1, 2021 Our view is that if Sheffield 3 was sold to a new owner, and the stadium was transferred as part of the sale, the new owner would need to register the title deed as new owner. That would require a conveyancing process. Under the terms of the Localism Act, the Conveyancer would be required to ensure that the moratorium on sale provisions of the Act had been completed. In our view this means that the ACV provisions would apply as if the stadium had been sold. Link to comment Share on other sites More sharing options...
vulva Posted July 1, 2021 Share Posted July 1, 2021 How’s the voting going for the new ‘board’ members? Link to comment Share on other sites More sharing options...
Guest Hornsby Posted July 1, 2021 Share Posted July 1, 2021 12 hours ago, pahowl said: From FRS102 Section 16 – Investment Property Summary Section 16 deals with the accounting for investment property. It only applies to investment property whose fair value can be measured reliably without undue cost or effort. If this is not the case then the property falls within the scope of section 17, property, plant and equipment. If it cannot be measured without undue cost then the depreciated cost model applies. So where does it say you have to have a valuation carried out? RICS Red Book, due to material uncertainty that ACV would trigger. Also, Covid and one of my usually profitable clients lost money last year, following property revaluation. Further, S3 rents from club must also be uncertain so should already have revalued. Significantly, S3 ltd accounts also late. Link to comment Share on other sites More sharing options...
SWFC Trust Posted July 1, 2021 Author Share Posted July 1, 2021 2 hours ago, vulva said: How’s the voting going for the new ‘board’ members? AGM on 14th July will sort that out. Link to comment Share on other sites More sharing options...
SWFC Trust Posted July 1, 2021 Author Share Posted July 1, 2021 1 hour ago, Baldockowl said: The Trust needs more members. 606 is poor 780 now, but I agree that the more members we gain the better. I'd encourage as many Owls fans as possible to join. It's a tenner, and you get a nice badge www.swfctrust.co.uk Link to comment Share on other sites More sharing options...
vulva Posted July 1, 2021 Share Posted July 1, 2021 3 minutes ago, SWFC Trust said: AGM on 14th July will sort that out. Good stuff. 12 ‘board’ members sounds a bit excessive, for 605 members. Have you got a big enough table? BP employ 70,000 and they’ve got a board of 10. Link to comment Share on other sites More sharing options...
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