The AGM of ICTFC Ltd will be held on Monday 18 December and today we have issued notice to shareholders, which includes the Club’s annual report and financial statements.

http://ictfc.com/news/club-news/2060-club-statement-annual-report-23-11-17

Anyways, IBM, forgetting what these guys are on about 'cos we are not claiming to be as bright and intellectual as others,  I do appreciate  your birthday wishes and I will do the same to you when you get to 80 as well. So, please hang around a wee bittie longer..eh?  i.e.If we are both still on this mortal coil that is. 

Otherwise I may be lucky enough to spot you in the Spirit World. In which case we perhaps can enjoy a wee glass of ectoplasm together. 

 

  This thread is absolutely hilarious. here I am  wiping the tears of laughter from my eyes and neither of the two well read protagonists are willing to yield.How long can it go on?Anybody interested in setting up a bet?  Mr. Tenacious versus Mr. Steady-wins- the- Race. are up and at 'em for the last round in this exciting bout of verbal and verbiose fisticuffs. 

On the one hand there is chippy Charles with a vocabulary so  deep that  he feels the need to divest himself of most of it at every post and turn.  And  Caley D whose measured tones belie a  rapidly developing skill  in speech delivery which is designed to polish and enhance his excellent  past commentaries of the matches that  the color cameras had used to enlighten my days on a Saturday when ICT were playing on home soil.  Two dauntless  dragons of  dickering - with knobs on. 

Alas, alack,  such days  have goneth with the wind and  yond Scarlet now hath a mean and hungry look. Such men are (not THAT) dangerous. Beware the Tides of March though 'cos they may sweep youse aff yer feet....especially when the much vaunted Chas is insisting on going down to the park in his Wellie bates to examine conditions prior to making a decision on whether to buy a new Caley scarf or not. 

 

O.K. Back to the Canucks game and the pipe and slippers. 

 

Someone has given me a "SAD"  emoticom rating. Ha! Ha! Ha!  Man, that boat has sailed a long time ago.

That sounds awfully like the Donald,  maybe Version 2. 

Anyone know if there's any movement to finalising the stands / Tulloch deal?

At this rate Brexit will be resolved before this...

The South Stand favours a complete severance whereas the North Stand wishes to remain in the Customs Union and Single Market. Tullochs narrowly voted to hand the stands back but there is no consensus on what basis.

3 hours ago, Fraz said:

Anyone know if there's any movement to finalising the stands / Tulloch deal?

At this rate Brexit will be resolved before this...

The last I was aware was a week or two ago when negotiations were still ongoing with, I believe, Highland Council and HIE also involved alongside the club and Tullochs. I am also led to believe that the club are now even more urgently seeking a conclusion to this than they were earlier when they had been led to hope that it would all be sorted out by the end of February.

It's worth observing that the first public notification that this transfer was being proposed came in a press release from Tulloch on December 9th 2016!

Dunno what everyone is worried about.

Isn't Blair going to save us?

Soon!?

1 hour ago, Charles Bannerman said:

The last I was aware was a week or two ago when negotiations were still ongoing with, I believe, Highland Council and HIE also involved alongside the club and Tullochs. I am also led to believe that the club are now even more urgently seeking a conclusion to this than they were earlier when they had been led to hope that it would all be sorted out by the end of February.

It's worth observing that the first public notification that this transfer was being proposed came in a press release from Tulloch on December 9th 2016!

spin spin spin

A year on and this makes interesting reading on how things are playing out.  I wonder if any contributers are now of a different mind on the situation, one way or the other?

looks like our regular commentators have run out of steam. I am an even bit more stoic and just let things unfold.

A return to the Premiership , though, does seem a bit more remote this season.

However , having defined the problems then perhaps we can devise a way out but  probably this will be  a very gradual uphill climb.

On 5/13/2018 at 8:12 PM, Fraz said:

Anyone know if there's any movement to finalising the stands / Tulloch deal?

At this rate Brexit will be resolved before this...

Looks as though it could be going into extra time!  Is the Tulloch deal finally going to squeeze through or will it be no deal?

48 minutes ago, DoofersDad said:

Looks as though it could be going into extra time!  Is the Tulloch deal finally going to squeeze through or will it be no deal?

No North Stand is better than a bad North Stand.

Any word of our annual accounts and AGM?

I imagine they took the view that it would be unhelpful to have issued accounts and called a meeting prior to completion of the   Stands deal which will have a very significant impact on the financial position.  

That deal is now in place and Ross Morrison has just been appointed as Vice Chair.  I can’t see any good reason why the AGM should not now go ahead. I would be surprised if there wasn’t an announcement in the next few days. 

I suspect that there will be more to emerge here. ?

People keep saying that the clubs financial position will be so much better now, but nobody has explained how that is.  We will own buildings which have no value sitting on land which we will be paying rent for.  I don't get it.

29 minutes ago, Buster said:

People keep saying that the clubs financial position will be so much better now, but nobody has explained how that is.  We will own buildings which have no value sitting on land which we will be paying rent for.  I don't get it.

creative accounting

17 hours ago, Buster said:

People keep saying that the clubs financial position will be so much better now, but nobody has explained how that is.  We will own buildings which have no value sitting on land which we will be paying rent for.  I don't get it.

It’s gives the club an asset on their balance sheet and removes a debt in accountancy terms the club is no longer bankrupt.

It stops the rental payments having to go through the accounts ever year (which didn’t get paid) which would be owed to tulocchs then requiring a letter of comfort to allow the accounts to be signed off.  Tullochs could have called in the debt which would have ended the club.

As part of the deal Tucllochs have also given up the naming rights to the stadium.  This can now open up a lot of income if the club manage to sell these naming rights to another company.

 

 

2 hours ago, highlandexile said:

It’s gives the club an asset on their balance sheet and removes a debt in accountancy terms the club is no longer bankrupt.

It stops the rental payments having to go through the accounts ever year (which didn’t get paid) which would be owed to tulocchs then requiring a letter of comfort to allow the accounts to be signed off.  Tullochs could have called in the debt which would have ended the club.

As part of the deal Tucllochs have also given up the naming rights to the stadium.  This can now open up a lot of income if the club manage to sell these naming rights to another company.

 

 

interesting. were we / are we bankrupt?

Well, before stadium ownership we had very little in the way of assets...

14 minutes ago, caleyboy said:

interesting. were we / are we bankrupt?

If you have a negative balance sheet then in that situation any business is bankrupt and no accountant would sign off the accounts.

In fact the pressure on the club to sell Draper was so great because of his value when sold made us solvent. 

I like solvent.

1 hour ago, highlandexile said:

If you have a negative balance sheet then in that situation any business is bankrupt and no accountant would sign off the accounts.

so is it the case we have been trading whilst insolvent? is that not against the law?

Edited February 17, 20196 yr by caleyboy

19 minutes ago, caleyboy said:

so is it the case we have been trading whilst insolvent? is that not against the law?

Read the auditors notes on last years lodged accounts and make your own mind up on that one.......