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Post by manchestergas on Jul 13, 2015 19:00:09 GMT
I am not an accountant, but will this decision have to be reflected in the accounts at some stage and does the money invested in the UWE no longer need be listed as an asset? Does the fact an appeal is possible delay that eventuality?
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Peter Parker
Global Moderator
Richard Walker
You have been sentenced to DELETION!
Joined: May 2014
Posts: 4,920 
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Post by Peter Parker on Jul 13, 2015 19:34:24 GMT
If we appeal any capital costs rrgsrding UWE will be ongoing and wont be written down/off until it is officially dead.
Court costs would be shown though i would think
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Post by pirate49 on Jul 13, 2015 19:41:17 GMT
Don't fret...Toni's got it covered!
He's planned for all eventualities.
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Lazza
Rod Hull
Joined: May 2014
Posts: 264
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Post by Lazza on Jul 13, 2015 19:57:28 GMT
Don't fret...Toni's got it covered! He's planned for all eventualities. Well let's hope he's also got the money for paying back the Wonga loan for the legal fees sorted then. Hmm |
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jackthegas
David Pritchard
Joined: May 2014
Posts: 313
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Post by jackthegas on Jul 13, 2015 20:12:10 GMT
To capitalise planning costs there has to be a probability of future economic benefit. Given today's ruling I'm sure our auditors will be asking some pertinent questions.
I haven't seen the accounts but I guess cash flow insolvency is a more pressing issue than balance sheet insolvency anyway. We've not been borrowing cash from financial institutions at a cheap rate so writing off an asset probably can't make a seemingly bleak situation in his regard much worse. The ground will act as collateral for existing debt.
In layman's terms expensing the costs incurred to date are unlikely to impact our ability, or lack of, to pay back the Wonga loan.
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tuckbox
Joined: June 2014
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Post by tuckbox on Jul 13, 2015 20:23:33 GMT
Does anyone know if the Wonga loan was taken out by Bristol Rovers Football Club Ltd or BRFC 1883 Ltd?
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Angas
Joined: May 2014
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Post by Angas on Jul 13, 2015 21:37:46 GMT
Now there's a question. Possibly Companies House info could answer it? I don't really know what I'm looking at - there are four 'registrations of charge' in December 2014 for 1883 Ltd (plus three 'statements of satisfaction of charge') and one registration for BRFC. Does 'charge' = 'loan' ?
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Cheshiregas
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Posts: 2,166
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Post by Cheshiregas on Jul 13, 2015 22:09:56 GMT
Now there's a question. Possibly Companies House info could answer it? I don't really know what I'm looking at - there are four 'registrations of charge' in December 2014 for 1883 Ltd (plus three 'statements of satisfaction of charge') and one registration for BRFC. Does 'charge' = 'loan' ? The charge is the document relating to the security taken against the loan. That is for the MSP Capital loan. The charges released relate to Barclays Bank release of security if I remember rightly and possibly Deltavon, GoD's company. |
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tuckbox
Joined: June 2014
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Post by tuckbox on Jul 13, 2015 22:17:11 GMT
Now there's a question. Possibly Companies House info could answer it? I don't really know what I'm looking at - there are four 'registrations of charge' in December 2014 for 1883 Ltd (plus three 'statements of satisfaction of charge') and one registration for BRFC. Does 'charge' = 'loan' ? The charge is the document relating to the security taken against the loan. That is for the MSP Capital loan. The charges released relate to Barclays Bank release of security if I remember rightly and possibly Deltavon, GoD's company. According to the docs MSP Capital Wonga loan is secured by 1883 Ltd against the Mem, land at the back of 53 Downend Road and land on the North east side of Strathmore Road. MSP also has a fixed and floating charge over all assets of Bristol Rovers Football Club Ltd. So it secured against everything. Not stupid these Wonga boys. Higgs and Co probably have a watertight contract with them, so not to worry. |
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Deleted
Joined: January 1970
Posts: 0
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Post by Deleted on Jul 13, 2015 22:24:38 GMT
The charge is the document relating to the security taken against the loan. That is for the MSP Capital loan. The charges released relate to Barclays Bank release of security if I remember rightly and possibly Deltavon, GoD's company. According to the docs MSP Capital Wonga loan is secured by 1883 Ltd against the Mem, land at the back of 53 Downend Road and land on the North east side of Strathmore Road. MSP also has a fixed and floating charge over all assets of Bristol Rovers Football Club Ltd. So it secured against everything. Not stupid these Wonga boys. Higgs and Co probably have a watertight contract with them, so not to worry. It's MSP Capital's fault for lending us the money. Probably. |
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Deleted
Joined: January 1970
Posts: 0
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Post by Deleted on Jul 13, 2015 22:29:08 GMT
The charge is the document relating to the security taken against the loan. That is for the MSP Capital loan. The charges released relate to Barclays Bank release of security if I remember rightly and possibly Deltavon, GoD's company. According to the docs MSP Capital Wonga loan is secured by 1883 Ltd against the Mem, land at the back of 53 Downend Road and land on the North east side of Strathmore Road. MSP also has a fixed and floating charge over all assets of Bristol Rovers Football Club Ltd. So it secured against everything. Not stupid these Wonga boys. Higgs and Co probably have a watertight contract with them, so not to worry. The fools never even managed to keep hold of a ransom strip. |
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