Another poor Smurf decision

[Dandy Highwayman]

perhaps they weren't allowed to see the books

I cant imagine why. Norman lets Penny Black see the books with no bother.

 

again I ask, why wasn't there a similar entry in the accounts 12 months previously?

Im no expert and I normally have to pay people to answer these sort of questions but having been an IFA Tim Im sure you know more than me.

 

if you enter a liability for deferred income shouldnt there be a matching cash entry unless its been spent already?

[Timothius]

I cannot reason with emotion

The Stadium was split from outset Smurf did not even appreciate that until he sort advise from Insolvency Lawyer if it had not been split we would all got 100% but l guess Club would now be in National League

1.25 was spent and not paid to us creditors without his knowledge in 7 months which funded the promotion and then if that was not enough 460k ST money stolen Club and Parent Co insolvent

A lot has gone on to reflect most of the debt until Sept 14 when in the 1st time in FL history the golden share was transferred to another Co both owned by the same owner.

 

So it appears you have been taken in hook line and sinker. Do you honestly believe that a bloke, who has amassed wealth of £75 million, not only allowed a stranger to write cheques on his behalf, never checked what was going out but then lets the same bloke take £500k out of the business 4 months after leaving? I have always said Wildes and Smurthwaite were in this together, knew what they were doing and the story spinned out is complete BS. I stand by that.

[Valiant Haze]

PVFC didn't cease owning when it went bust, it ceased owning it when your supposed aqquantance SMURF transferred the asset to himself without supporters knowledge once he'd got his feet under the table. Meanwhile the club is neglected by its landlord and my fathers ashes are now in land that SMURF has taken for profit or gain

 

We've been taken to the cleaners because the name of PVFC has been severely damaged by the stewardship of the custodian SMURF. From getting the club debt free and with 1 foot into LG1, he's wasted circa Milliions, escalated debt and guided the club to 1 foot into LG2.

You got 60% of yours back. We've had 100% taken away

 

I cannot reason with emotion

The Stadium was split from outset Smurf did not even appreciate that until he sort advise from Insolvency Lawyer if it had not been split we would all got 100% but l guess Club would now be in National League

1.25 was spent and not paid to us creditors without his knowledge in 7 months which funded the promotion and then if that was not enough 460k ST money stolen Club and Parent Co insolvent

A lot has gone on to reflect most of the debt until Sept 14 when in the 1st time in FL history the golden share was transferred to another Co both owned by the same owner.

Unfortunately in the Football business, emotion plays an integral part in the paying customer ( supporter/sponsor ). Next season your debtor found friend will see a difference in such emotion led spend, unless he miraculously re-invents himself.

 

If 460K was stolen, then where is the police investigation. It's not as if it was in a petty cash tin and mislaid. There will be a trail...

 

The debt supposedly created by Wildes ( Smurf incompetence in allowing such to happen - never mind not noticing 460K missing ) could at least be accredited to areas where it made a difference. With Smurf it's just been wasted on managers non of us supporters would have chose, and an unbelievable amount of cheap players we wouldn't want. Quantities of poor grade materials meaning the job isn't done and the need to be done again and again still remains, only the job is getting bigger

[Timothius]

I cant imagine why. Norman lets Penny Black see the books with no bother.

 

 

Im no expert and I normally have to pay people to answer these sort of questions but having been an IFA Tim Im sure you know more than me.

 

if you enter a liability for deferred income shouldnt there be a matching cash entry unless its been spent already?

 

As far as I understand, season ticket money would be shown as an asset not a liability. I do not understand what Penny Black is insinuating. Cash has been handed over for a ticket, it is none refundable, once they have their ticket they have goods for their payment, that wouldn't be shown as a liability. Either way in the previous years accounts, when we had sold more season tickets, the figure was less so again Penny Blacks assertions don't make much sense

[Dandy Highwayman]

I have always said Wildes and Smurthwaite were in this together, knew what they were doing and the story spinned out is complete BS. I stand by that.

I dont know what to believe anymore. I was told a while back that wildes and smurthwaite are still in business together. something to do with a hotel in crewe.

[Dandy Highwayman]

If 460K was stolen, then where is the police investigation. It's not as if it was in a petty cash tin and mislaid. There will be a trail...

a business cheque needs two signatures

 

even a bacs payment needs two electronic signatures from a business account

[Timothius]

a business cheque needs two signatures

 

even a bacs payment needs two electronic signatures from a business account

 

Cheques may only need one signature, it depends on what the Bank Mandate states (I used to work in a bank). But if a cheque for £500k went out of the account that shouldn't have, you would expect the business owner or his staff would have checked the account and had the cheque stopped.

[PENNY BLACK]

So it appears you have been taken in hook line and sinker. Do you honestly believe that a bloke, who has amassed wealth of £75 million, not only allowed a stranger to write cheques on his behalf, never checked what was going out but then lets the same bloke take £500k out of the business 4 months after leaving? I have always said Wildes and Smurthwaite were in this together, knew what they were doing and the story spinned out is complete BS. I stand by that.

 

When l questioned things when l got to meet him l understood he was a non resident for tax purposes until after 6 April 2013.

Also he was not aware he was the preferred bidder having 100k of his money spent until it was announced on Sky why he was residing in Monaco.He actually came out in shingles when he found out

PW bought PV for his own vanity using Smurfs money to live the dream many contracts entered into were criminal for a Club of PV size

Alsohe stood by the 13/14 budget given to Mr Adams even though the income was around 800k short

He only made himself CEO to stop some Lawyer who did a number on PW becoming CEO this info coming from some key people of the Supporter Association.

He or Bill Lodey had no Bank Access until after PW left

He enganged a Stoke Legal firm on the instruction of the FL to pursue the stolen funds but gave up after 6 months ironically the Lawyers also ended up being victims of the 60% terms

Smurf has never told me what he is worth but his UK property portfolio in 2013 with no debt was impressive

[PENNY BLACK]

Cheques may only need one signature, it depends on what the Bank Mandate states (I used to work in a bank). But if a cheque for £500k went out of the account that shouldn't have, you would expect the business owner or his staff would have checked the account and had the cheque stopped.

 

Not many people deal in Cheques nowaday its all Chaps or faster payment

[Mario]

Smurth cant remember what he's said from one day to another, lets just face it the bloke has got in so deep and he just cant come up with any sensible explanations, and he forgets what explanations he has given.

[PENNY BLACK]

As far as I understand, season ticket money would be shown as an asset not a liability. I do not understand what Penny Black is insinuating. Cash has been handed over for a ticket, it is none refundable, once they have their ticket they have goods for their payment, that wouldn't be shown as a liability. Either way in the previous years accounts, when we had sold more season tickets, the figure was less so again Penny Blacks assertions don't make much sense

 

When a ST or Contract that is paid up front is paid it is detailed as a debt this is why a lot of Credit card Companies will not provide facilities for Football Club if history is poor

I recall when PV came out of admin there was a payment made by HSBC each month as the games were concluded as to remove any risk to them

Smurf does a similar thing with ringfencing ST over the year

For Account purposes it is a liabilty until season ends

[Jacko51]

When l questioned things when l got to meet him l understood he was a non resident for tax purposes until after 6 April 2013.

Also he was not aware he was the preferred bidder having 100k of his money spent until it was announced on Sky why he was residing in Monaco.He actually came out in shingles when he found out

PW bought PV for his own vanity using Smurfs money to live the dream many contracts entered into were criminal for a Club of PV size

Alsohe stood by the 13/14 budget given to Mr Adams even though the income was around 800k short

He only made himself CEO to stop some Lawyer who did a number on PW becoming CEO this info coming from some key people of the Supporter Association.

He or Bill Lodey had no Bank Access until after PW left

He enganged a Stoke Legal firm on the instruction of the FL to pursue the stolen funds but gave up after 6 months ironically the Lawyers also ended up being victims of the 60% terms

Smurf has never told me what he is worth but his UK property portfolio in 2013 with no debt was impressive

 

Hugh, do you know which company owns Vale Park? When the ground was transferred away from the football club, to where was it transferred?

[Valiant Haze]

Unfortunately in the Football business, emotion plays an integral part in the paying customer ( supporter/sponsor ). Next season your debtor found friend will see a difference in such emotion led spend, unless he miraculously re-invents himself.

 

If 460K was stolen, then where is the police investigation. It's not as if it was in a petty cash tin and mislaid. There will be a trail...

 

The debt supposedly created by Wildes ( Smurf incompetence in allowing such to happen - never mind not noticing 460K missing ) could at least be accredited to areas where it made a difference. With Smurf it's just been wasted on managers non of us supporters would have chose, and an unbelievable amount of cheap players we wouldn't want. Quantities of poor grade materials meaning the job isn't done and the need to be done again and again still remains, only the job is getting bigger

 

a business cheque needs two signatures

 

even a bacs payment needs two electronic signatures from a business account

1 signature if agrees by both business partners or bank.

Not many people deal in Cheques nowaday its all Chaps or faster payment

 

So any alleged stolen money will have a trace trail...

[PENNY BLACK]

Hugh, do you know which company owns Vale Park? When the ground was transferred away from the football club, to where was it transferred?

On the 20th November 2012 Alchemy Land aqcuired Vale Park for 700k and PVFC acquired the Golden Share for 550k

[PENNY BLACK]

1 signature if agrees by both business partners or bank.

 

 

So any alleged stolen money will have a trace trail...

 

The money was transfered to Wildes Group and then taken out to repay a DLA of Alchemy Inv Group the parent of the then PVFC and Alchemy Land a Company which was insolvent