Latest accounts

[Tone]

Tone, I haven't suggested for one moment that anything in the accounts is illegal. I'm simply saying that what the owner says to the fans does not actually match what seems to be shown in the accounts. He appears to me making dishonest statements to the fans but as I am not an accountant, I may simply be misunderstanding all of this.

 

That was my point, Jean. What he says to fans does not, in general, have to stand up to the scrutiny of the law. When he signs the accounts, those documents do have to be accurate.

[Jacko51]

That was my point, Jean. What he says to fans does not, in general, have to stand up to the scrutiny of the law. When he signs the accounts, those documents do have to be accurate.

 

But surely what he says to the fans has to stand up to scrutiny ethically or how does he expect us to trust a word he says and why did he bother with that forum if he was only going tell us a load of bull? As far as many fans are concerned his reputation is completely shot. Why should he simply reinforce this view? It's madness.

[Tone]

But surely what he says to the fans has to stand up to scrutiny ethically or how does he expect us to trust a word he says and why did he bother with that forum if he was only going tell us a load of bull? As far as many fans are concerned his reputation is completely shot. Why should he simply reinforce this view? It's madness.

 

I’ve no argument with that. It should go without saying. Integrity is important.

[LancyTony]

But surely what he says to the fans has to stand up to scrutiny ethically or how does he expect us to trust a word he says and why did he bother with that forum if he was only going tell us a load of bull? As far as many fans are concerned his reputation is completely shot. Why should he simply reinforce this view? It's madness.

 

Of course we would like him to be totally honest - but, under pressure and confrontation he may well get things muddled. Not defending him - I want him out of my club as much as anyone...just saying! But I thought accounts for Companies House had to be vetted, somewhere along the line?

[pjg1876]

Looks like he got a good deal on the Tesla

[Heatwave]

Looks like he got a good deal on the Tesla

 

I take it that it wasn't the one Elon Musk launched into space?

[Timothius]

He may have told you to play on a motorway but didn't you abuse his young daughter online too? I recall you calling a teenage girl ugly amongst other things so I think his motorway comment was only slightly worse than a middle aged man bullying a teenage girl online..

 

As for the accounts, do fans of all other clubs get themselves this worked up over the accounts? Are we not just supporters of the team anymore?

 

I have never been on an online forum where I could abuse her, so once again you have got the wrong end of a long stick and mistaken me for someone else. I once said on here she has a potty mouth, as she does, and she is way past her teenage years. I also aren't "worked up" over the accounts, i'm simply pointing out the facts in the accounts don't match what Smurthwaite spouts and his sheep digest.

[Timothius]

Nowhere near as much as some people clearly. We have people who haven't got a clue about accounting getting worked up over something they don't even understand. There is people who couldn't make a gardening/fencing/*other business work crowing about how a football club should be run! That's the bit I can't get my head around.

 

I am more than a little jealous that seemingly these people must at haven't have too many other things going on in life to worry about at the minute. I simply haven't got the time or inclination to get so worried about it. When you add in the fact that there is nothing anyone can do about it unless they want to stump up the money to buy the club and I find myself bizarrely intrigued with those who take such an interest. Life is too short!

 

I take it that was aimed at me. I have accounting qualifications, I understand how to extract information from a set of accounts, I used to do it for a living. I now run my own successful Landscaping and house maintenance business thanks.

 

As for saying how a football club should be run, I know it shouldn't be run in the way Smurthwaite is running my, our, club. I know Smurthwaite is a liar and I know he isn't bankrolling the club in the manner he wants gullible people to believe, because I can understand and extract accounts. I don't have to have the money to buy the club to form an opinion based on fact and also comment on it.

[Jacko51]

Of course we would like him to be totally honest - but, under pressure and confrontation he may well get things muddled.

 

Not buying that Tony.

[Hagrid]

I'd accept Smurf might get things muddled if he didn't have a track record for lying in the past.

 

Remember the infamous 'Paul Bodin was the brains, I manipulated the budget to remove Page hahahaha' interview? At the fans forum he claimed Page had been on notice since the Exeter game as the prospective buyers wanted him to stay.

 

Which one was it? Was Page out the door regardless, or did Norm tactfully manoeuvre him out whilst securing a profit?

 

The bloke's a serial liar and thinks we're stupid enough to swallow us his lies.

 

I'm sure Bill Bell has offered him loads of sage advice...

[Paul6754]

I'm not an accountant either but if I understand the figures then Smurf "holds debt" in PVFC as of 30th June 2017 of 1,638,591GBP (the difference between total assets and current liabilities), Smurf holds this debt as he is the sole director of PVFC.

 

Under Creditors; Amounts falling due within one year (Note 7), in 2017 the Directors' Loan Accounts for 2017 are given as 2,870,495GBP whereas for 2016 this figure was 3.086,087GBP, did that money come from the Alnwick/Grant transfers? There doesn't appear to be any entry for the Hugill sell on money.

 

I can't relate Smurf's comments at last weeks meeting to the figures in this balance sheet, perhaps the P&L would shed more light on those comments.

 

Just where the ground sits who knows, it's in a separate company and has value.

[Timothius]

I'm not an accountant either but if I understand the figures then Smurf "holds debt" in PVFC as of 30th June 2017 of 1,638,591GBP (the difference between total assets and current liabilities), Smurf holds this debt as he is the sole director of PVFC.

 

Under Creditors; Amounts falling due within one year (Note 7), in 2017 the Directors' Loan Accounts for 2017 are given as 2,870,495GBP whereas for 2016 this figure was 3.086,087GBP, did that money come from the Alnwick/Grant transfers? There doesn't appear to be any entry for the Hugill sell on money.

 

I can't relate Smurf's comments at last weeks meeting to the figures in this balance sheet, perhaps the P&L would shed more light on those comments.

 

Just where the ground sits who knows, it's in a separate company and has value.

 

There is no entry for Hugill as the accounts were up to June 2017 and Hugill wasn't sold until this January, so any funds from him will show in the accounts that will be drawn up next year. The ground is held by Alchemy land and the last time I viewed their accounts it was valued in the accounts at £750,000.

[Santa]

I'm not an accountant either but if I understand the figures then Smurf "holds debt" in PVFC as of 30th June 2017 of 1,638,591GBP (the difference between total assets and current liabilities), Smurf holds this debt as he is the sole director of PVFC.

There is a deficit on the balance sheet of 1.6 million. It's not debt.

 

Tangible Assets: 0.1 million

Intangible Assets: 1.3 million

Stock, debtors, cash in hand: 0.7 million

Directors loans: (2.8 million)

Other creditors: (0.9 million)

 

Part of the debtors and the creditors figure at 30.06.17 will just be the normal churn of doing business, e.g. sales invoices issued for which payment hasn't been received, invoices recorded on the purchase ledger but not yet paid.

 

People who paid up front for boxes, season tickets etc. before year end will be recorded as creditors because they are owed a service they haven't yet received, but this should net off to zero against the cash they paid.

[Howjy04]

There is a deficit on the balance sheet of 1.6 million. It's not debt.

 

Tangible Assets: 0.1 million

Intangible Assets: 1.3 million

Stock, debtors, cash in hand: 0.7 million

Directors loans: (2.8 million)

Other creditors: (0.9 million)

 

Part of the debtors and the creditors figure at 30.06.17 will just be the normal churn of doing business, e.g. sales invoices issued for which payment hasn't been received, invoices recorded on the purchase ledger but not yet paid.

 

People who paid up front for boxes, season tickets etc. before year end will be recorded as creditors because they are owed a service they haven't yet received, but this should net off to zero against the cash they paid.

 

Accrual accounting,I believe,Santa?

[Santa]

I'm not an accountant either but if I understand the figures then Smurf "holds debt" in PVFC as of 30th June 2017 of 1,638,591GBP(the difference between total assets and current liabilities)

When NS set up the company, he put it into £1.8 million of debt on day one.

 

However on the balance sheet there would have been a liability of (£1.8 million) and an asset of £1.8 million. The asset was the goodwill of him loaning the company money.

 

The company was still in £1.8 million of debt, but on the balance sheet £1.8 million liabilities and £1.8 million assets equals zero.

 

The goodwill is being depreciated in a straight line over 10 years (ie £180k a year) which is why the intangible assets were just a shade under £1.3 million at 30.06.17. We make a £180k 'loss' every year on this alone.