CLUB STATEMENT : AGM & Annual Report : 23/11/17

[highlandexile]

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.......

[Yngwie]

But we are not insolvent. If the owner of the stands had enforced its right to receive rent for the last couple of years or so, then we would have had a major problem, but they didn’t.

 

[caleyboy]

according to companies house the most recent accounts were lodged in Jan 18 and the directors decided against lodging the profit and loss account. 

Edited February 17, 2019 by caleyboy

[Yngwie]

The accounts for last season are due to be filed by the end of this month.

[Guest]

So the asset is going to be used as security against debts?

[Guest]

AGM on 18th March.

Losses of £809k, but would/should have been £600k more (£1.4 Million in total) if not for some creative accounting; allocating the rent savings and other associated write-offs to last years accounts.

Was nice to speak to the elusive Mr Bannerman in the Boardroom today and making full use of the free bar.

[caleyboy]

On 2/17/2019 at 1:02 PM, caleyboy said:

1 hour ago, Buster said:

AGM on 18th March.

Losses of £809k, but would/should have been £600k more (£1.4 Million in total) if not for some creative accounting; allocating the rent savings and other associated write-offs to last years accounts.

Was nice to speak to the elusive Mr Bannerman in the Boardroom today and making full use of the free bar.

maybe if we cut out the boardroom free bar to freeloaders it would help reduce the losses.

 

 

[Yngwie]

3 hours ago, Buster said:

Losses of £809k, but would/should have been £600k more (£1.4 Million in total) if not for some creative accounting; allocating the rent savings and other associated write-offs to last years accounts.

Wow, that is a horrific set of figures. 

[dougal]

14 hours ago, Buster said:

 

Was nice to speak to the elusive Mr Bannerman in the Boardroom today and making full use of the free bar.

Buster hopefully in the cold light of day and you sufficiently sober up your view will have changed because if not you seriously need to take a long hard look at yourself!

Anyway how accurate are these figures you have quoted they are deeply concerning if they are.

Dougal

[Charles Bannerman]

17 hours ago, Buster said:

 

Was nice to speak to the elusive Mr Bannerman in the Boardroom today and making full use of the free bar.

Logging in for the first time in nine months, I had almost forgotten how to do so - albeit only logging in to clarify that “full use of the free bar” amounted to two small glasses of Diet Coke from a supermarket bottle. Not perhaps an unreasonable return on 25th Anniversary weekend for the 70,000 words provided in the official account of the events in question all these years ago.

And with that single observation, I will depart, even less likely now to return than I was last May..... given some of the contributions I have seen on my very occasional intervening “read only” visits.

[IMMORTAL HOWDEN ENDER]

2 hours ago, Charles Bannerman said:

Logging in for the first time in nine months, I had almost forgotten how to do so - albeit only logging in to clarify that “full use of the free bar” amounted to two small glasses of Diet Coke from a supermarket bottle. Not perhaps an unreasonable return on 25th Anniversary weekend for the 70,000 words provided in the official account of the events in question all these years ago.

And with that single observation, I will depart, even less likely now to return than I was last May..... given some of the contributions I have seen on my very occasional intervening “read only” visits.

 

[Kingsmills]

Very concerning. Not the fact that CB is continuing to take the huff but the state of our finances.

Unless we gain promotion this season or somehow attract a substantial injection of capital there is trouble ahead and not very far ahead at that.

[IMMORTAL HOWDEN ENDER]

Buster says were are busted 

[+Tree]

1 hour ago, Kingsmills said:

Very concerning. Not the fact that CB is continuing to take the huff but the state of our finances.

Unless we gain promotion this season or somehow attract a substantial injection of capital there is trouble ahead and not very far ahead at that.

Nothing in the accounts is surprising based on knowledge of reduction in income, ongoing reduction in crowds and the pressure on reducing the wage bill.

The Asset transfer has strengthened the balance sheet however it would be helpful to understand the monthly P&L and whether the run rates are improving.

Presumably we are still carrying a significant wage for a past manager?

[Kingsmills]

21 minutes ago, Tree said:

Nothing in the accounts is surprising based on knowledge of reduction in income, ongoing reduction in crowds and the pressure on reducing the wage bill.

The Asset transfer has strengthened the balance sheet however it would be helpful to understand the monthly P&L and whether the run rates are improving.

Presumably we are still carrying a significant wage for a past manager?

An untradable and possibly unsecurable asset on the balance sheet is neither here or there. What matters right now is the year on year, month on month and day on day deficit of expenditure against revenue.

[+Tree]

1 minute ago, Kingsmills said:

An untradable and possibly unsecurable asset on the balance sheet is neither here or there. What matters right now is the year on year, month on month and day on day deficit of expenditure against revenue.

It may prove to be important in determining future solvency however.

i agree fully with your last sentence however.

[TopSix]

5 hours ago, Charles Bannerman said:

 “full use of the free bar” amounted to two small glasses of Diet Coke from a supermarket bottle. 

Two small glasses of Diet Coke cost the club money. 

[Huisdean]

9 minutes ago, TopSix said:

Two small glasses of Diet Coke cost the club money. 

Either a woeful attempt at humour or a totally uncalled for comment. I do not know CB personally but know of him and some of the criticism of him on here appears totally unjustified. Seems to me that because some posters disliked/disagreed with him, he was effectively hounded off this site. 

[TopSix]

22 minutes ago, Huisdean said:

Either a woeful attempt at humour or a totally uncalled for comment. I do not know CB personally but know of him and some of the criticism of him on here appears totally unjustified. Seems to me that because some posters disliked/disagreed with him, he was effectively hounded off this site. 

I wasn't having a pop. 

[Kingsmills]

6 minutes ago, TopSix said:

I wasn't having a pop. 

He was having a pop. Two small bottles of it at the club's expense.

[TopSix]

56 minutes ago, Kingsmills said:

He was having a pop. Two small bottles of it at the club's expense.

Ah, but it was two small glasses from a supermarket bottle...

[caleyboy]

Let's be clear here. I do not grudge Charles Bannerman two glasses of diet coke. The problem lies in the fact that a club with our financial problems are NOT in a position to give FREE anything. Sorry if this upsets anyone but that's the way I see it. Maybe the directors should pay for any hospitality they provide in the boardroom (for all I know maybe they do).

[Kingsmills]

49 minutes ago, TopSix said:

Ah, but it was two small glasses from a supermarket bottle...

Sorry for my gross exaggeration. 

[IMMORTAL HOWDEN ENDER]

Mr Bannerman unfortunately spoke a lot of sense in a rather direct manner.

[Satan]

A bit prickly there,  not likely anyone gave two hoots about what he was drinking, where & how much it didn't cost.

Just the fact his name was mentioned was enough to tempt him to remember his login for the first time in 9 months...I take it he's due now then??