Accounts

[Bald Eagle]

This Company only set up Feb 2014, what happened to the original company when acquired Nov 2012? Would love to see the trail of entries

[Erniemossrules]

Don’t forget that he has had another 9 months since these accounts to take a lot more money out of the club - Sunderland TV, Checkatrade money etc. Think all the Hugill money would have been accounted for by the time of these accounts but that does not stop him taking the money out as it would not have all been in the bank by 30/06/2018.

 

No just one Hugill payment as second one only received in January 2019.

The ground has deteriated over that time so can’t go up in value.

His loans include the original payment when he bought the club with Wilde’s then he took 500k out of the season ticket sales to pay off Wildes.

This years accounts include one Hugill payment.

The only Goodwill in these accounts is to Norman Smurthwaite.

No wonder he,s run off to Portugal with a companion to escape the criticism.

[Erniemossrules]

Just as long as they don’t send Martel Maxwell around. Smurthwaite will be trying to “hammer” her!!!

 

Maybe he,s bringing the Oystons in as advisors to help him run (or is it ruin) the club.

[Regal Beagle]

Isn't the final Hugill installment accounted for in the debtors due in more than 1 year section?

 

That's not what he was suggesting on the radio.

[Santa]

This Company only set up Feb 2014, what happened to the original company when acquired Nov 2012? Would love to see the trail of entries

It got liquidated without submitting any accounts. The £1.8 million debt to NS brought forward from PVFC Limited we know very little about.

 

New company was set up early 2014. NS put it into debt to the tune of £1.8 million on day one. There was £1.8 million of liabilities and £1.8 million of “goodwill” so on the balance sheet the net assets equalled zero. This goodwill is depreciated in a ten year straight line so the company ‘loses’ £180k worth of bull**** assets each year.

 

In four years the football club has increased its net debt to NS by £600,000.

[Warren]

Just as long as they don’t send Martel Maxwell around. Smurthwaite will be trying to “hammer” her!!!

Need to see the group accounts of Smurf to make sense. Tax management etc.

[Erniemossrules]

Need to see the group accounts of Smurf to make sense. Tax management etc.

 

These accounts have been submitted late for obvious reasons.

[pjg1876]

No just one Hugill payment as second one only received in January 2019.

The ground has deteriated over that time so can’t go up in value.

His loans include the original payment when he bought the club with Wilde’s then he took 500k out of the season ticket sales to pay off Wildes.

This years accounts include one Hugill payment.

The only Goodwill in these accounts is to Norman Smurthwaite.

No wonder he,s run off to Portugal with a companion to escape the criticism.

The Hugill ‘profit’ would have to be accounted for in the account year that he was sold to West Ham. The balance sheet would show a debtor which would then be reduced as the cash instalments were paid.

[cheshirevaliant]

Need to see the group accounts of Smurf to make sense. Tax management etc.

 

Agreed, we can't deduce a great deal from these accounts without the full picture. It's a shame Smurthwaite is unwilling to provide the full picture. Unfortunately "tax management" as you euphemistically refer to it, evidently isn't his only reason for his actions. That much is now apparent and indeed has been apparent for some time to many.

[JRC]

No just one Hugill payment as second one only received in January 2019.

The ground has deteriated over that time so can’t go up in value.

His loans include the original payment when he bought the club with Wilde’s then he took 500k out of the season ticket sales to pay off Wildes.

This years accounts include one Hugill payment.

The only Goodwill in these accounts is to Norman Smurthwaite.

No wonder he,s run off to Portugal with a companion to escape the criticism.

 

All the Hugill money is in the accounts it's in the debtors figure. The cash figure doesn't include the Hugill fee but the profit for the year does.