Companies House Documents

[melv]

It's threads like this that make me feel stupid.

 

I have no idea what most of it really means, apart from being a bunch of numbers.

 

Imagine that infront of the numbers is a big minus sign.But the club still has lot's of Bill's to pay out.They owe more money than they have,including the value of the ground/land.

[Burt]

I just don't get how debt works.

 

If you're in debt, what money are you spending? How is that allowed? How is the club worth anything if it's in so much debt? When do we have to repay the debt? Etc.

 

It's one thing I've never been able to get my head around.

[Jacko51]

I just don't get how debt works.

 

If you're in debt, what money are you spending? How is that allowed? How is the club worth anything if it's in so much debt? When do we have to repay the debt? Etc.

 

It's one thing I've never been able to get my head around.

 

If you are in debt you have borrowed money or you have bills for services which need to be paid. Vale's debt is a mixture of both but the bulk of it is borrowed money - from the Council, from Harlequin, from the brewery, Bank overdraft and the latest loan from the Carbon Trust.

 

Debt is not a problem as long as it can be serviced. If you have borrowed money to buy your house and can make your mortgage payments every month then the lender will be quite happy with you. Debt becomes a problem when you can't make payments as and when they fall due. The Board have constantly assured us that this will not happen at Vale so everything is fine and we have nothing to worry about.

[Burt]

Thanks for reassuring me, I completely trust Vale's boa-wait a minute...

[Stevo]

There's a snake at the Vale too?!

[melv]

There's a snake at the Vale too?!

 

There are certainly constrictors on the board that are strangling the club.

[vale in the blood]

how they can say we are fine is unreal...im no accountant...but its obvious we r right in the *****....how can they with hand on heart say they CAN take our club forward...with those figures,its impossible!

[Jimmy]

how they can say we are fine is unreal...im no accountant...but its obvious we r right in the *****....how can they with hand on heart say they CAN take our club forward...with those figures,its impossible!

 

Your not an English teacher either.........

 

 

Good points though. :D

[vale in the blood]

cheers jimmy!...trying txt on phone...and trying not use txt speak!

[Vale_Girl]

The PVFC Accounts and Annual Return have both recently been filed at Companies House and can be obtained via their webcheck service for £1 each. So if anyone wants to confirm that we are doing alright............

 

A full list of shareholders was also submitted with the Annual Return and can be obtained on CDROM for £12.50 (incl postage) by phoning CH on 03031234500. Addresses wiil NOT be included.

These are all public documents.

 

I can do business searches for free (well, costs work) at work - but I'm not going to! :p :cool:

[Utch]

Right, I've got the actual paper copy here and I assumed the download was the same. Obviously not! It's the page headed up Balance Sheet 30 June 2010 and might be page 12 in the download.

 

Creditors - amounts falling due within one year £1,389,839

 

Creditors - amounts falling due after more than one year £2,243,406

 

That's not really all debt though is it?

 

£990k of it is deferred income. Port Vale don't owe that money to anyone, it's just an accounting treatment and will be released against the P&L throughout the year. Accruals make up £97k of it. You can't class that as debt. Port Vale have been prudent by acrruing costs but we've no idea how much of those costs are actually going to be realised. It's not uncommon for private limited companies to overstate that. You've also included the amount owing to HMRC (£188k). This figure is part of the every day running costs of Port Vale, it shouldn't be considered when talking about debt levels unless the club is in administration.

[PatMustard]

I assume that it's no different than personal debt.It only becomes a problem if you can't meet the repayment instalments or your creditor demands repayment in full.

[Andy06]

Right, I've got the actual paper copy here and I assumed the download was the same. Obviously not! It's the page headed up Balance Sheet 30 June 2010 and might be page 12 in the download.

 

Creditors - amounts falling due within one year £1,389,839

 

Creditors - amounts falling due after more than one year £2,243,406

 

i got that on the downloaded one aswell just didnt notice it but its on page 14 all the same doesnt look good

[Valiant Haze]

I can do business searches for free (well, costs work) at work - but I'm not going to! :p :cool:

 

Why not ? .....