billyblack Posted June 24, 2021 Share Posted June 24, 2021 2 hours ago, @owlstalk said: Wednesday are still under an embargo because of the late filing of their 2019/20 accounts. It is not do with the unpaid player wages. The embargo has held up their transfer plans. They have missed out on a few players but Moore and the recruitment team are getting on with the task in hand. It is far from ideal but there is nothing they can do about the embargo. All they can do is keep putting in the calls and concentrate on the here and now. Moore and the recruitment team are working hard behind the scenes to line up new signings. I know they have spoken to a number of players but they are restricted in what they can do because of the embargo. Welcome to the sh#t show that is SWFC Link to comment Share on other sites More sharing options...
bigrbuk Posted June 24, 2021 Share Posted June 24, 2021 1 minute ago, Hornsby said: Apart from usual insolvent trading, what's problem with Accounts? If current auditors kicking up, try Soft Touche, aka Deloittes. That's the problem isn't it? What tricks is he trying to cover up the losses this time? See Derby for potential ramifications. Been a while since I've been to Valley Parade I suppose. Link to comment Share on other sites More sharing options...
Guest Hornsby Posted June 24, 2021 Share Posted June 24, 2021 1 minute ago, bigrbuk said: That's the problem isn't it? What tricks is he trying to cover up the losses this time? See Derby for potential ramifications. Been a while since I've been to Valley Parade I suppose. Dom says in local journal , about stadium sale. Again. Surely, you can't backdate an already backdated transaction? Maybe about Sheffield 3 ltd not paying first £7.5 million stadium.instalment , or Owls struggling with £3 million rent to them. We need new players now. Link to comment Share on other sites More sharing options...
owlinexile Posted June 24, 2021 Share Posted June 24, 2021 2 hours ago, @owlstalk said: Wednesday are still under an embargo because of the late filing of their 2019/20 accounts. It is not do with the unpaid player wages. The embargo has held up their transfer plans. They have missed out on a few players but Moore and the recruitment team are getting on with the task in hand. It is far from ideal but there is nothing they can do about the embargo. All they can do is keep putting in the calls and concentrate on the here and now. Moore and the recruitment team are working hard behind the scenes to line up new signings. I know they have spoken to a number of players but they are restricted in what they can do because of the embargo. I mean, they could file the accounts on time... 6 Link to comment Share on other sites More sharing options...
areNOTwhatTHEYseem Posted June 24, 2021 Share Posted June 24, 2021 2 minutes ago, owlinexile said: I mean, they could file the accounts on time... That's probably not within the recruitment team's remit. 3 Link to comment Share on other sites More sharing options...
Beauchief Owl Posted June 24, 2021 Share Posted June 24, 2021 Get new accountants. They've had months to sort this out. If they can't get the accounts done on time, even with an extended deadline, then what use are they? 3 1 Link to comment Share on other sites More sharing options...
matthefish2002 Posted June 24, 2021 Share Posted June 24, 2021 Are any other clubs under an embargo for late filing of accounts? I thought a few weeks back they was. a story that said a number of clubs had the same problem of late filing of accounts due to Covid. If a few other clubs are in the same boat I am inclined to see this as more EFL being too strict with the rules with Covid Link to comment Share on other sites More sharing options...
Dick_Turpin Posted June 24, 2021 Share Posted June 24, 2021 Just now, matthefish2002 said: I am inclined to see this as more EFL being too strict with the rules with Covid Yep let's let him off the tuna hook again. Link to comment Share on other sites More sharing options...
owlinexile Posted June 24, 2021 Share Posted June 24, 2021 1 minute ago, matthefish2002 said: Are any other clubs under an embargo for late filing of accounts? I thought a few weeks back they was. a story that said a number of clubs had the same problem of late filing of accounts due to Covid. If a few other clubs are in the same boat I am inclined to see this as more EFL being too strict with the rules with Covid Other clubs sorted the issue weeks ago 1 Link to comment Share on other sites More sharing options...
modboy Posted June 24, 2021 Share Posted June 24, 2021 1 minute ago, matthefish2002 said: Are any other clubs under an embargo for late filing of accounts? I thought a few weeks back they was. a story that said a number of clubs had the same problem of late filing of accounts due to Covid. If a few other clubs are in the same boat I am inclined to see this as more EFL being too strict with the rules with Covid It's just an excuse. Every other businesses has gotten on with filing legal documents etc 1 Link to comment Share on other sites More sharing options...
Manwë Posted June 24, 2021 Share Posted June 24, 2021 1 minute ago, matthefish2002 said: If a few other clubs are in the same boat I am inclined to see this as more EFL being too strict with the rules with Covid A double edged sword unfortunately. The EFL can't (or shouldn't) grant transfers if the buying club hasn't proven they are operating within the rules, imagine the pandemonium if they did. The Covid extension was for good measure, but accountants I know (very few, I admit), continued to work from home for the most part. Link to comment Share on other sites More sharing options...
room0035 Posted June 24, 2021 Share Posted June 24, 2021 The best part from Dom was the sale of the stadium is the excuse for the delay. You know the sale of the stadium that is not in these financial statements we are waiting on. It was accounted for in the July 2019. Is DC that much of a Muppet he is trying to account for twice. Is it the longer the accounts drag on he does have to spend any of his money, at the same times fans are buying tickets and merchandise. For me the fans need to push for matter to be sorted before we part with any of our cash. Season ticket holders had 10 days to renew their season tickets DC and the club have had 330 days to file the accounts and counting. And over 18 months to refund fans still waiting. 3 Link to comment Share on other sites More sharing options...
matthefish2002 Posted June 24, 2021 Share Posted June 24, 2021 2 minutes ago, rickygoo said: Yep let's let him off the tuna hook again. Was just wondering if other clubs were still in the same situation as us, that's all 2 minutes ago, owlinexile said: Other clubs sorted the issue weeks ago Thank you, I am more inclined now to think this is another situation we should have probably avoided with better day to day running of the club. Link to comment Share on other sites More sharing options...
Blatter Posted June 24, 2021 Share Posted June 24, 2021 34 minutes ago, Hornsby said: Apart from usual insolvent trading, what's problem with Accounts? If current auditors kicking up, try Soft Touche, aka Deloittes. Books still in the oven cooking slowly 1 Link to comment Share on other sites More sharing options...
room0035 Posted June 24, 2021 Share Posted June 24, 2021 5 minutes ago, matthefish2002 said: Are any other clubs under an embargo for late filing of accounts? I thought a few weeks back they was. a story that said a number of clubs had the same problem of late filing of accounts due to Covid. If a few other clubs are in the same boat I am inclined to see this as more EFL being too strict with the rules with Covid There may be but if those clubs how many are not paying their players, got relegated last season, have sold their ground to cover up mismanagement of the football team, owe fans for season tickets money from 19/20 season, gave fans just 10 days to renew season tickets, Have a first team squad of just 12 players, Have no recognised strikers in the first team, Have no recognised left back in the first team, Have no recognised right sided midfielders in the first team. I am going to hazard a guess there are zero teams under an embargo in the same mess we are in. 3 Link to comment Share on other sites More sharing options...
Dooogs Posted June 24, 2021 Share Posted June 24, 2021 1 hour ago, Holmowl said: My guess is CLOT. COOT - DC's wearing a syrup! 2 Link to comment Share on other sites More sharing options...
mcmigo Posted June 24, 2021 Share Posted June 24, 2021 56 minutes ago, Grandad said: Ironically Rushden and Diamonds went out of business about 10 years ago - unable to complete fixtures due to insufficient finances They were so skint and had so few players towards the end that I played a couple of pre season games for them to make up numbers ( knew the manager at the time/ directors !). Darren knows where I am if they want A centre back with no pace or ability to replace borner ! 1 1 Link to comment Share on other sites More sharing options...
Animis Posted June 24, 2021 Share Posted June 24, 2021 I wonder what is holding the accounts up - we've declared the ground sale in the previous financial year, all the player's salaries were paid in this financial year. The lease and rent is due in the current financial year. What other issue can there be? Even if we are shown to be losing £10m we don't breach FFP as far as i can see, so what is the hold up? It may be simply part of his exit strategy - minimising costs in player's contract salaries from 1st June making a sale easier? I wish he'd just leave. Link to comment Share on other sites More sharing options...
poorlyheadowl Posted June 24, 2021 Share Posted June 24, 2021 What a mess. Moore must wish he'd never walked through the door. Poor lad. Link to comment Share on other sites More sharing options...
room0035 Posted June 24, 2021 Share Posted June 24, 2021 Since Covid struck additional requirements have been expected for all filed financial statements around going concern, this for a football club will be about funding, expected reviews and viability for the next season. If your an independent auditor and the business you are looking at owes customers refunds from 18 months ago, is not paying is staff on time on several occassions, has no income from any sponsorship or external sources other than the chairman. You are going to questions it ability to trade for the next 12 months. The way round this is the club providing budgets for the club running at 40% fans 50%fans etc up to 100% the costs insured and what is needed to break even, as the club need to show the have the money without any from the fans and as DC has told us in the past the fans contribute money to the cost so this should be easy to do. If of course he had any money to start with and it's not a case of his line of credit being cut off in Thailand Link to comment Share on other sites More sharing options...
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