Accounts - June 2011

[Loggerheads Sage]

The delayed AGM is supposed to be held in about in 4 1/2 weeks and we have STILL not received any Annual Accounts to June 2011 ( over 6 months now) - does anyone know anything about this? I e - mailed Perry Deakin yesterday to ask him what is going on, obviously not had a reply yet as he won't be at work until tomorrow. I will let you know if I do get a reply. I am beginning to think the AGM will not happen. A well known businessman told me that they do not have to have an AGM, but I thought it was the Directors duty to lay the Accounts before the members at an AGM. Again, does anyone know anything on this? Thanks.

[ELDERBEZZA]

The delayed AGM is supposed to be held in about in 4 1/2 weeks and we have STILL not received any Annual Accounts to June 2011 ( over 6 months now) - does anyone know anything about this? I e - mailed Perry Deakin yesterday to ask him what is going on, obviously not had a reply yet as he won't be at work until tomorrow. I will let you know if I do get a reply. I am beginning to think the AGM will not happen. A well known businessman told me that they do not have to have an AGM, but I thought it was the Directors duty to lay the Accounts before the members at an AGM. Again, does anyone know anything on this? Thanks.

It will probably take us as long to see the accounts as it did to locate the Staffordshire Hoarde;)

[Stevo]

According to Wikipedia..

 

In Great Britain it became optional with effect from 1 October 2007 for any private company to hold an AGM, unless its articles of association specifically require it to do so.

[boltonsno1]

Give Pezzer a ring. I'm sure he'd be only to happy to hear from a concerned shareholder.

[Santa]

Regardless of whether they hold an AGM they still have to submit the accounts to Companies House by the end of March.

 

However, the Council Loan Agreement has a specific clause about the preparation of the club accounts.

 

Here is an extract of the Council Loan Agreement which was made available under a Freedom of Information request.

 

11.2 Financial Information

11.2.1 The Club shall:

(a) as soon as the same become available (and in any event within 180 days after the end of each its Financial Years), deliver to the Council its Accounts for the relevant Financial Year which shall have been audited by the Auditors;

(b) procure that, as soon as the same becomes available, (and in any event within 30 days after the end of each quarter during each of its Financial Years), deliver to the Council its quarterly management accounts for such period ; and

© as soon as the same becomes available, deliver to the Council its Budget; and

(d) in each case in a form and content reasonably satisfactory to the Council.

 

11.3 Preparation of Accounts

The Club shall ensure that all Accounts to be delivered by it under this Agreement are

prepared in such manner that Clause 10.9 will be complied with.

 

10.9 Accounts

Each of its latest Accounts required to be delivered under Clause 11.2 include a balance sheet and a profit and loss account and such other financial statements as are required by the laws of England and Wales, were prepared and audited in accordance with the requirements of the Companies Acts and give a true and fair view of its financial position as at the date to which they were prepared and for the period then ended.

[NLVMalc]

Oh dear have they missed this deadline?

 

You can just Mike Lloyd saying "we have a loan with the City Council? It's the first I've heard of it"

[Loggerheads Sage]

According to Wikipedia..

 

Thanks for that mate. I don't know if our Articles do require us to or not - if not, my guess is that it will not happen. Worries about security, soon to be an EGM are my guess's as to the excuse for cancellation. Obviously it is a prime chance to put very public pressure on the Board - and I've already booked the day off work, spose I will have to change that to the EGM date - if we last that long. :(

[Birches Head Fred]

'and give a true and fair view of its financial position as at the date to which they were prepared and for the period then ended'

 

Last years and this should make interesting reading then!

[Loggerheads Sage]

Regardless of whether they hold an AGM they still have to submit the accounts to Companies House by the end of March.

 

However, the Council Loan Agreement has a specific clause about the preparation of the club accounts.

 

Here is an extract of the Council Loan Agreement which was made available under a Freedom of Information request.

 

But Santa, they MAY have submitted audited Accounts to the city council - just not to the shareholders? Not saying they have like.

[Fosse69]

I have read recently, but cannot remember where, that our articles state a maximum of 15 months between AGMs

[ELDERBEZZA]

Regardless of whether they hold an AGM they still have to submit the accounts to Companies House by the end of March.

 

However, the Council Loan Agreement has a specific clause about the preparation of the club accounts.

 

Here is an extract of the Council Loan Agreement which was made available under a Freedom of Information request.

 

Well,well they are really stitched up now:yes:Wait til city council opens in morning as I think one or two may raise their eyebrows at the Civic Centre and a few up Boslem may need Imodium:yes:

[fairportnick]

I have read recently, but cannot remember where, that our articles state a maximum of 15 months between AGMs

 

If thats so then it will take a 75 % majority to dispense with AGMs.