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Post by Portishead Pirate on May 29, 2019 6:18:44 GMT
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Post by Curly Wurly on May 29, 2019 7:02:58 GMT
I'm trying to work out whether this is just because our directorship are inept or whether there is something more serious.
The accounts are available, and not encouraging, but isn't a first Gazette notice only published when a company fails to respond to two warning letters from Companies House?
Isn't it simply a case of Taylor Wessing saying "Accounts are in the post"?
I know it is the closed season, but the silence is deafening.
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Post by Portishead Pirate on May 29, 2019 8:27:17 GMT
I'm trying to work out whether this is just because our directorship are inept or whether there is something more serious.
The accounts are available, and not encouraging, but isn't a first Gazette notice only published when a company fails to respond to two warning letters from Companies House?
Isn't it simply a case of Taylor Wessing saying "Accounts are in the post"?
I know it is the closed season, but the silence is deafening.
It's standard CH protocol to issue a Gazette notice if the companies' obligatory filings are not made within certain time-frames. In normal circumstances you would want to avoid this happening as it leaves a permanent record on view to the public and could impact on credit ratings. The notice (not yet visible itself) would, I expect, show a two month period by which the overdue filings are required to be made so not a big issue in that sense but just indicative of the mess we're in, in my view. It would be helpful if the background to this was communicated openly by the board at the AGM but we'll see! Without knowing the background, we can only speculate as to the reason why the accounts were not available to be filed within the 9 month deadline but the Auditors would be obliged to look closely at whether the accounts should be prepared on a "going concern basis" and this would necessarily involve reviewing directors' trading forecasts and cash flow projections. These in turn would look materially different depending on which division the club would be trading in which is why a decision might have been made to delay until the final league placings were confirmed. As I say, hopefully we'll be enlightened on the 11th. |
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Post by a more piratey game on May 29, 2019 8:41:37 GMT
Without knowing the background, we can only speculate as to the reason why the accounts were not available to be filed within the 9 month deadline but the Auditors would be obliged to look closely at whether the accounts should be prepared on a "going concern basis" and this would necessarily involve reviewing directors' trading forecasts and cash flow projections. These in turn would look materially different depending on which division the club would be trading in which is why a decision might have been made to delay until the final league placings were confirmed. As I say, hopefully we'll be enlightened on the 11th. tis a good point PP (not to be confused with the other PP, who is pp elsewhere I think) another possible reason for the delay is ongoing internal discussions within the family regarding future financial commitments, or alternatively maybe sale negotiations or maybe the above were themselves a function of what division we'll be in |
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Post by Portishead Pirate on May 29, 2019 8:52:45 GMT
Without knowing the background, we can only speculate as to the reason why the accounts were not available to be filed within the 9 month deadline but the Auditors would be obliged to look closely at whether the accounts should be prepared on a "going concern basis" and this would necessarily involve reviewing directors' trading forecasts and cash flow projections. These in turn would look materially different depending on which division the club would be trading in which is why a decision might have been made to delay until the final league placings were confirmed. As I say, hopefully we'll be enlightened on the 11th. tis a good point PP (not to be confused with the other PP, who is pp elsewhere I think) another possible reason for the delay is ongoing internal discussions within the family regarding future financial commitments, or alternatively maybe sale negotiations or maybe the above were themselves a function of what division we'll be in Agreed, likely a combination of these factors led to the decision. |
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Post by gasheadpirate on May 29, 2019 12:31:35 GMT
Perhaps the financial docs cannot be approved until the AGM?
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Post by billyocean on May 29, 2019 12:54:30 GMT
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Igitur
Joined: June 2014
Posts: 2,294 
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Post by Igitur on May 29, 2019 13:25:32 GMT
From Evening Post:
A statement from the club explains: 'The accounts were filed by the club's auditors, Grant Thornton, on Thursday evening.
‘The delay in the process was subject to technical accounting assurances that the auditors wished to obtain, which were provided with no further issue by the club.
‘We expect Companies House to upload the accounts to their system over the next two to three working days.’
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Post by Portishead Pirate on May 29, 2019 14:45:22 GMT
From Evening Post: A statement from the club explains: 'The accounts were filed by the club's auditors, Grant Thornton, on Thursday evening. ‘The delay in the process was subject to technical accounting assurances that the auditors wished to obtain, which were provided with no further issue by the club. ‘We expect Companies House to upload the accounts to their system over the next two to three working days.’ Going Concern assurances I would assume. |
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Post by Curly Wurly on May 29, 2019 16:05:38 GMT
From Evening Post: A statement from the club explains: 'The accounts were filed by the club's auditors, Grant Thornton, on Thursday evening. ‘The delay in the process was subject to technical accounting assurances that the auditors wished to obtain, which were provided with no further issue by the club. ‘We expect Companies House to upload the accounts to their system over the next two to three working days.’ Going Concern assurances I would assume. Time for some proper answers in my opinion. Many of us have extended a lot of patience to the Al Qadis, but the lack of clarity is wearing thin now |
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kingswood Polak
Without music life would be a mistake
Joined: May 2014
Posts: 10,261
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Post by kingswood Polak on May 30, 2019 9:33:56 GMT
Going Concern assurances I would assume. Time for some proper answers in my opinion. Many of us have extended a lot of patience to the Al Qadis, but the lack of clarity is wearing thin now That’s being very kind. |
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Igitur
Joined: June 2014
Posts: 2,294
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Post by Igitur on May 30, 2019 9:57:17 GMT
From Evening Post:
...to explain the nature of the warning. He said: “It is a warning shot to the people who own the company that if they fail to submit their accounts then Companies House will continue with the action to have the company struck off and then legally they won't be allowed to trade.
“This is normally done to encourage companies, and it happens to thousands of companies in the country, to get their act together...."
...‘The delay in the process was subject to technical accounting assurances that the auditors wished to obtain, which were provided with no further issue by the club.
‘We expect Companies House to upload the accounts to their system over the next two to three working days.’
The accounts are still being upload [sic] to the Companies House website meaning they can not be read at the time of publication...
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Post by irenestoyboy on May 30, 2019 10:11:17 GMT
People getting revved up over nothing then
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Post by Blue Mist on May 30, 2019 12:25:16 GMT
People getting revved up over nothing then Hardly encouraging though is it? |
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Post by irenestoyboy on May 30, 2019 12:30:30 GMT
People getting revved up over nothing then Hardly encouraging though is it? What are you possibly reading into that makes it discouraging? We haven't missed the deadline, the accounts were compiled, various stages and signatories were completed, which, when you are dealing with a board and an off shore company can take time, and our accountants signed and submitted them to companies house, by the deadline. There is no penalty to any business associated with the club for doing so. The strike off notice was an automatic ping and is no different from if you don't pay your electric bill on time you get the red notice. Nothing is effected. Like I said, its people getting revved up over nothing. |
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