norm on radio stoke

[fairportnick]

What constitutes a "small company", Nick? The football club accounts were of the limited nature you mention here but under V2001 full detailed accounts were always produced. Is there a specific cut off point on turnover or something?

 

Yes

http://www.icaew.com/en/archive/members/practice-resources/icaew-practice-support-services/practicewire/news/new-reporting-limits

[fairportnick]

Does Norman charge himself rent then?

 

A limited company is a separate legal entity, so he wouldn't be charging himself rent. Any rent received would be taxable.

[fairportnick]

Having said all of the above, the club is no longer owned by the supporters. Therefore how the businesses are run and what their accounts show, subject to legal disclosure requirements, is NONE OF THE SUPPORTERS BUSINESS.

[fairportnick]

Fairynuff...ta

 

Must be difficult to track and tax income from such ventures? Does that all rely on a tax return and any audit that occurs?

 

HMRC are entitled to a full set of accounts and computations.

[Jacko51]

Having said all of the above, the club is no longer owned by the supporters. Therefore how the businesses are run and what their accounts show, subject to legal disclosure requirements, is NONE OF THE SUPPORTERS BUSINESS.

 

Legally that is correct, Nick. However, fans have an emotional attachment to the business that doesn't exist with other companies so you can hardly blame them for asking questions.

[fairportnick]

Legally that is correct, Nick. However, fans have an emotional attachment to the business that doesn't exist with other companies so you can hardly blame them for asking questions.

 

Anyone can ask a question but they are not neccesarily entitled to an answer. I have an emotional attachment to several products but I am not entitled to their accounts.

[Yukon]

"The shop is run through a separate Company but all profits are taken into account for FL purposes.

The main reason for this is that it could be an asset which could be sold off and after the Sondico fiasco no shirt manufacturer would touch us and l had to fund the whole stock in advance of delivery

The actual profits support The Academy"

http://www.onevalefan.co.uk/forum/showthread.php?82929-Average-attendance/page17

 

So they are used to run the club then? Quite the opposite of what Tim said

[Paul6754]

Anyone can ask a question but they are not neccesarily entitled to an answer. I have an emotional attachment to several products but I am not entitled to their accounts.

 

But you could alter your attitude to those products or their purveyors if you perceive, suspect or know as fact that something is amiss or there's something you strongly disagree with.

[fairportnick]

But you could alter your attitude to those products or their purveyors if you perceive, suspect or know as fact that something is amiss or there's something you strongly disagree with.

 

You could decide not to buy the product, or complain if it did not do its job and ask for a refund, but you are still not entitled to ask questions about their accounts.

[toyahw]

So they are used to run the club then? Quite the opposite of what Tim said

Just quoting the facts. No agenda,

[melv]

 

I said two years ago about all the conspiricy theorists and story makers that very soon the Man will pack up and go and i,m being proved right!!

 

 

 

How long did you really think that he would stay at the club John? 10 years? 15 years?

[mr.hobblesworth]

Just quoting the facts. No agenda,

 

You can't just go round, posting facts! There'll be no room for all the half-truths, rumours and lies that some people need to forward their agendas...

[Wereskintandweknowweare]

How long did you really think that he would stay at the club John? 10 years? 15 years?

 

Quite right I have been the most outspoken and berated poster around smurf from the day he took over our club.

Smurf will as I have said from day one turn out to be the worst thing that has ever happened at port vale.

 

If you think that the last lot were a threat to the vales future they were nothing in comparison.

 

Smurf has played all Nieve in not appointing a chief exec. Not making money from the ground its catering captive audience footfall of 5000 a fortnight no corporate hospitality. No change to tommys. No weekend entertainment at our club.

 

He will now sell the club and own the ground. If he offers a to let at 500k a year rent who would take that on you would have to turnover 4 million to even break even

 

I just prey we are in the football league before he is gone.

[Howjy04]

As Nick has said its nobody's business what's in the accounts except the owner's.If you think you should be privy to everything ,buy the club.Everything will be revealed in time.If we've been shafted(allegedly) what can folk do?Vote him out,starve him out?

Suggestions please.

[Tone]

He will now sell the club and own the ground. If he offers a to let at 500k a year rent who would take that on you would have to turnover 4 million to even break even

 

Don't let the facts get in the way of a good rant.

 

In such an event, the rent is prescribed in a covenant agreement or some such contractual obligation. It's been well publicised in the past.