Palace late to file accounts
Comments
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The sooner they ban relegation the better.Henry Irving said:
Trouble is the problem will be seen by other big clubs as Villa got relegated and didn't come back up.ShootersHillGuru said:I’m sure I can’t / won’t happen but I’ve been dying for one of the “greedy bollox” “big” clubs to hit the real skids. As Leroy has already posted football is a disgrace the way it conducts itself and a club of Villa’s standing needs to go pop or at least be hit so fecking hard it sends out a lesson that no club is too big to suffer the same fate.
So the solution could be to either spend even more to avoid relegation or just ban relegation
The leagues left can then get on with selling their own product and build sustainable football.1 -
You still here Roland???? JSTC&FO!!!Redrobo said:
The sooner they ban relegation the better.Henry Irving said:
Trouble is the problem will be seen by other big clubs as Villa got relegated and didn't come back up.ShootersHillGuru said:I’m sure I can’t / won’t happen but I’ve been dying for one of the “greedy bollox” “big” clubs to hit the real skids. As Leroy has already posted football is a disgrace the way it conducts itself and a club of Villa’s standing needs to go pop or at least be hit so fecking hard it sends out a lesson that no club is too big to suffer the same fate.
So the solution could be to either spend even more to avoid relegation or just ban relegation
The leagues left can then get on with selling their own product and build sustainable football.
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I think you're right @PragueAddick .PragueAddick said:I am sure they will sort this out, but I am convinced something isn't right there, in the boardroom. Parish on his own never let anything like that happen, not was he ever known for stuff like that in his advertising business. Something's up with those Yanks.
My contact who works for Palace and is generally free an easy with his damning information on them has been really quiet about this one.
Phil Alexander, their CEO has been there since 1996 and is the longest serving CEO in the Football League, (as he's keen to tell anybody whose interested) and he knows the score. Now this has been made public, he would have been on the tail of the FD to get this wrapped up - Bank Holiday weekend or not, as surely most of the data would be there already for the final returns.
They still haven't filed them - so there must be something that's causing issues and it's obviously not about having the money to pay it.
They must have the money as they have planning permission in for a two thirds the width of the pitch new main stand with funding in place. Their PL 'prize money' for the 2017/18 season amounted to £114,307,662 so they're not short of a few bob.
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Then I don’t understand what possible reason it could be if not money ?Addickted said:
I think you're right @PragueAddick .PragueAddick said:I am sure they will sort this out, but I am convinced something isn't right there, in the boardroom. Parish on his own never let anything like that happen, not was he ever known for stuff like that in his advertising business. Something's up with those Yanks.
My contact who works for Palace and is generally free an easy with his damning information on them has been really quiet about this one.
Phil Alexander, their CEO has been there since 1996 and is the longest serving CEO in the Football League, (as he's keen to tell anybody whose interested) and he knows the score. Now this has been made public, he would have been on the tail of the FD to get this wrapped up - Bank Holiday weekend or not, as surely most of the data would be there already for the final returns.
They still haven't filed them - so there must be something that's causing issues and it's obviously not about having the money to pay it.
They must have the money as they have planning permission in for a two thirds the width of the pitch new main stand with funding in place. Their PL 'prize money' for the 2017/18 season amounted to £114,307,662 so they're not short of a few bob.
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They’ve all been using their company cards to pay for rent boys and are trying to cover it up (hence the palace/Brighton gay off )ShootersHillGuru said:
Then I don’t understand what possible reason it could be if not money ?Addickted said:
I think you're right @PragueAddick .PragueAddick said:I am sure they will sort this out, but I am convinced something isn't right there, in the boardroom. Parish on his own never let anything like that happen, not was he ever known for stuff like that in his advertising business. Something's up with those Yanks.
My contact who works for Palace and is generally free an easy with his damning information on them has been really quiet about this one.
Phil Alexander, their CEO has been there since 1996 and is the longest serving CEO in the Football League, (as he's keen to tell anybody whose interested) and he knows the score. Now this has been made public, he would have been on the tail of the FD to get this wrapped up - Bank Holiday weekend or not, as surely most of the data would be there already for the final returns.
They still haven't filed them - so there must be something that's causing issues and it's obviously not about having the money to pay it.
They must have the money as they have planning permission in for a two thirds the width of the pitch new main stand with funding in place. Their PL 'prize money' for the 2017/18 season amounted to £114,307,662 so they're not short of a few bob.0 -
If they need an accountant to help them out,
I'm available2 -
Exactly. As much as it's a nice article to read about, it's probably something to do with the investors wanting dividends which may affect the books. I'll be amazed if this results in anything more than a token gesture fine.ShootersHillGuru said:
Then I don’t understand what possible reason it could be if not money ?Addickted said:
I think you're right @PragueAddick .PragueAddick said:I am sure they will sort this out, but I am convinced something isn't right there, in the boardroom. Parish on his own never let anything like that happen, not was he ever known for stuff like that in his advertising business. Something's up with those Yanks.
My contact who works for Palace and is generally free an easy with his damning information on them has been really quiet about this one.
Phil Alexander, their CEO has been there since 1996 and is the longest serving CEO in the Football League, (as he's keen to tell anybody whose interested) and he knows the score. Now this has been made public, he would have been on the tail of the FD to get this wrapped up - Bank Holiday weekend or not, as surely most of the data would be there already for the final returns.
They still haven't filed them - so there must be something that's causing issues and it's obviously not about having the money to pay it.
They must have the money as they have planning permission in for a two thirds the width of the pitch new main stand with funding in place. Their PL 'prize money' for the 2017/18 season amounted to £114,307,662 so they're not short of a few bob.0 -
Probably something to do with what happens to the money; director salaries, loans, dividends. I never liked the look of Josh Harris.ShootersHillGuru said:
Then I don’t understand what possible reason it could be if not money ?Addickted said:
I think you're right @PragueAddick .PragueAddick said:I am sure they will sort this out, but I am convinced something isn't right there, in the boardroom. Parish on his own never let anything like that happen, not was he ever known for stuff like that in his advertising business. Something's up with those Yanks.
My contact who works for Palace and is generally free an easy with his damning information on them has been really quiet about this one.
Phil Alexander, their CEO has been there since 1996 and is the longest serving CEO in the Football League, (as he's keen to tell anybody whose interested) and he knows the score. Now this has been made public, he would have been on the tail of the FD to get this wrapped up - Bank Holiday weekend or not, as surely most of the data would be there already for the final returns.
They still haven't filed them - so there must be something that's causing issues and it's obviously not about having the money to pay it.
They must have the money as they have planning permission in for a two thirds the width of the pitch new main stand with funding in place. Their PL 'prize money' for the 2017/18 season amounted to £114,307,662 so they're not short of a few bob.
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I'm assuming these are accounts for 2016/17 - the financial year for football clubs runs 1/7 - 30/6 so the 2017/18 financial year hasn't ended yet! The data for 2016/17 would have all been available following audit - probably around September last year.Addickted said:
I think you're right @PragueAddick .PragueAddick said:I am sure they will sort this out, but I am convinced something isn't right there, in the boardroom. Parish on his own never let anything like that happen, not was he ever known for stuff like that in his advertising business. Something's up with those Yanks.
My contact who works for Palace and is generally free an easy with his damning information on them has been really quiet about this one.
Phil Alexander, their CEO has been there since 1996 and is the longest serving CEO in the Football League, (as he's keen to tell anybody whose interested) and he knows the score. Now this has been made public, he would have been on the tail of the FD to get this wrapped up - Bank Holiday weekend or not, as surely most of the data would be there already for the final returns.
They still haven't filed them - so there must be something that's causing issues and it's obviously not about having the money to pay it.
They must have the money as they have planning permission in for a two thirds the width of the pitch new main stand with funding in place. Their PL 'prize money' for the 2017/18 season amounted to £114,307,662 so they're not short of a few bob.0 -
It's possible that there's been a delay in getting the accounts signed off by the auditors, that's the only reason for the delay which makes sensebobmunro said:
I'm assuming these are accounts for 2016/17 - the financial year for football clubs runs 1/7 - 30/6 so the 2017/18 financial year hasn't ended yet! The data for 2016/17 would have all been available following audit - probably around September last year.Addickted said:
I think you're right @PragueAddick .PragueAddick said:I am sure they will sort this out, but I am convinced something isn't right there, in the boardroom. Parish on his own never let anything like that happen, not was he ever known for stuff like that in his advertising business. Something's up with those Yanks.
My contact who works for Palace and is generally free an easy with his damning information on them has been really quiet about this one.
Phil Alexander, their CEO has been there since 1996 and is the longest serving CEO in the Football League, (as he's keen to tell anybody whose interested) and he knows the score. Now this has been made public, he would have been on the tail of the FD to get this wrapped up - Bank Holiday weekend or not, as surely most of the data would be there already for the final returns.
They still haven't filed them - so there must be something that's causing issues and it's obviously not about having the money to pay it.
They must have the money as they have planning permission in for a two thirds the width of the pitch new main stand with funding in place. Their PL 'prize money' for the 2017/18 season amounted to £114,307,662 so they're not short of a few bob.0 - Sponsored links:
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I didn't really follow it... Why did Rangers go under? Was that unpaid tax?0
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The Guardian says:-killerandflash said:
It's possible that there's been a delay in getting the accounts signed off by the auditors, that's the only reason for the delay which makes sensebobmunro said:
I'm assuming these are accounts for 2016/17 - the financial year for football clubs runs 1/7 - 30/6 so the 2017/18 financial year hasn't ended yet! The data for 2016/17 would have all been available following audit - probably around September last year.Addickted said:
I think you're right @PragueAddick .PragueAddick said:I am sure they will sort this out, but I am convinced something isn't right there, in the boardroom. Parish on his own never let anything like that happen, not was he ever known for stuff like that in his advertising business. Something's up with those Yanks.
My contact who works for Palace and is generally free an easy with his damning information on them has been really quiet about this one.
Phil Alexander, their CEO has been there since 1996 and is the longest serving CEO in the Football League, (as he's keen to tell anybody whose interested) and he knows the score. Now this has been made public, he would have been on the tail of the FD to get this wrapped up - Bank Holiday weekend or not, as surely most of the data would be there already for the final returns.
They still haven't filed them - so there must be something that's causing issues and it's obviously not about having the money to pay it.
They must have the money as they have planning permission in for a two thirds the width of the pitch new main stand with funding in place. Their PL 'prize money' for the 2017/18 season amounted to £114,307,662 so they're not short of a few bob.
All limited companies must by law file accounts to Companies House within nine months of the end of their designated financial year. CPFC 2010 Ltd has a year end of 30 June, so the accounts for last year, the club’s fourth season since winning promotion in 2013, were due by 31 March.
https://www.theguardian.com/football/2018/jun/05/crystal-palace-threatened-with-being-dissolved-over-late-accounts0 -
If the auditors aren't happy with the accounts and won't sign them, then the accounts can't be filed. Alternatively, they may want to qualify them, and if Palace don't want to file them in this state, there will be a delay while the issues are resolvedCordoban Addick said:
The Guardian says:-killerandflash said:
It's possible that there's been a delay in getting the accounts signed off by the auditors, that's the only reason for the delay which makes sensebobmunro said:
I'm assuming these are accounts for 2016/17 - the financial year for football clubs runs 1/7 - 30/6 so the 2017/18 financial year hasn't ended yet! The data for 2016/17 would have all been available following audit - probably around September last year.Addickted said:
I think you're right @PragueAddick .PragueAddick said:I am sure they will sort this out, but I am convinced something isn't right there, in the boardroom. Parish on his own never let anything like that happen, not was he ever known for stuff like that in his advertising business. Something's up with those Yanks.
My contact who works for Palace and is generally free an easy with his damning information on them has been really quiet about this one.
Phil Alexander, their CEO has been there since 1996 and is the longest serving CEO in the Football League, (as he's keen to tell anybody whose interested) and he knows the score. Now this has been made public, he would have been on the tail of the FD to get this wrapped up - Bank Holiday weekend or not, as surely most of the data would be there already for the final returns.
They still haven't filed them - so there must be something that's causing issues and it's obviously not about having the money to pay it.
They must have the money as they have planning permission in for a two thirds the width of the pitch new main stand with funding in place. Their PL 'prize money' for the 2017/18 season amounted to £114,307,662 so they're not short of a few bob.
All limited companies must by law file accounts to Companies House within nine months of the end of their designated financial year. CPFC 2010 Ltd has a year end of 30 June, so the accounts for last year, the club’s fourth season since winning promotion in 2013, were due by 31 March.
https://www.theguardian.com/football/2018/jun/05/crystal-palace-threatened-with-being-dissolved-over-late-accounts0 -
I'd agree with all of this except one thing: It's not the revenue who they've fucked over, but the British public. For this reason everyone should hate Palace and their ilk.Leroy Ambrose said:Football really is an absolute fucking disgrace. All those businesses getting knocked, the revenue getting fucked over and literally being allowed to start it all again without even a whimper of protest. We're largely to blame, of course, by throwing up our arms in horror at the mere thought a club could go out of business for, you know, not paying bills. It has to stop at some point.
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going into Administration didn't do Southampton any harm. Relegated to League One, paid their creditors something daft like 10p in the £, new owners then pick them up for nowt & spend big on players to get promoted. Easy.
Now, if going into Administration meant that for every new player you buy you have to spend the same amount paying your creditors back it might be a bit more of a deterrent6 -
The whole law around company liquidation and the concept of limited liability would need complete overhaul.golfaddick said:going into Administration didn't do Southampton any harm. Relegated to League One, paid their creditors something daft like 10p in the £, new owners then pick them up for nowt & spend big on players to get promoted. Easy.
Now, if going into Administration meant that for every new player you buy you have to spend the same amount paying your creditors back it might be a bit more of a deterrent
Not that I'm disagreeing with you but it will never happen.4 -
It's worse in football as football creditors somehow take priority, and I have always struggled to understand how this can be the case. I think HMRC have challenged it in the past, and lost, but my memory is vague and I've done no research.bobmunro said:
The whole law around company liquidation and the concept of limited liability would need complete overhaul.golfaddick said:going into Administration didn't do Southampton any harm. Relegated to League One, paid their creditors something daft like 10p in the £, new owners then pick them up for nowt & spend big on players to get promoted. Easy.
Now, if going into Administration meant that for every new player you buy you have to spend the same amount paying your creditors back it might be a bit more of a deterrent
Not that I'm disagreeing with you but it will never happen.2 -
It could be sorted by a change in FA rules so that football clubs have to pay at the time for everything they buy, rather like it is for most of us when we go to the shops.bobmunro said:
The whole law around company liquidation and the concept of limited liability would need complete overhaul.golfaddick said:going into Administration didn't do Southampton any harm. Relegated to League One, paid their creditors something daft like 10p in the £, new owners then pick them up for nowt & spend big on players to get promoted. Easy.
Now, if going into Administration meant that for every new player you buy you have to spend the same amount paying your creditors back it might be a bit more of a deterrent
Not that I'm disagreeing with you but it will never happen.1 -
Yes that rule still exists - although HMRC and secured creditors take priority.IdleHans said:
It's worse in football as football creditors somehow take priority, and I have always struggled to understand how this can be the case. I think HMRC have challenged it in the past, and lost, but my memory is vague and I've done no research.bobmunro said:
The whole law around company liquidation and the concept of limited liability would need complete overhaul.golfaddick said:going into Administration didn't do Southampton any harm. Relegated to League One, paid their creditors something daft like 10p in the £, new owners then pick them up for nowt & spend big on players to get promoted. Easy.
Now, if going into Administration meant that for every new player you buy you have to spend the same amount paying your creditors back it might be a bit more of a deterrent
Not that I'm disagreeing with you but it will never happen.
The argument is that unless players are paid and transfer fees honoured it could lead to a domino effect affecting other clubs. That could apply to a number of industries but again football is treated as a special case.0 -
Don't many of us pay with credit cards?AddicksAddict said:
It could be sorted by a change in FA rules so that football clubs have to pay at the time for everything they buy, rather like it is for most of us when we go to the shops.bobmunro said:
The whole law around company liquidation and the concept of limited liability would need complete overhaul.golfaddick said:going into Administration didn't do Southampton any harm. Relegated to League One, paid their creditors something daft like 10p in the £, new owners then pick them up for nowt & spend big on players to get promoted. Easy.
Now, if going into Administration meant that for every new player you buy you have to spend the same amount paying your creditors back it might be a bit more of a deterrent
Not that I'm disagreeing with you but it will never happen.0 - Sponsored links:
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You are so right. Clubs like so many companies have their trading account in a limited company with little to no assets, and their big assets like ground etc in others that don’t trade. It is only the trading accounts that go into liquidation so the grounds etc are not usually at risk unless they have been used to secure loans.bobmunro said:
The whole law around company liquidation and the concept of limited liability would need complete overhaul.golfaddick said:going into Administration didn't do Southampton any harm. Relegated to League One, paid their creditors something daft like 10p in the £, new owners then pick them up for nowt & spend big on players to get promoted. Easy.
Now, if going into Administration meant that for every new player you buy you have to spend the same amount paying your creditors back it might be a bit more of a deterrent
Not that I'm disagreeing with you but it will never happen.
The small trader gets bugger all because when the trading company goes pop there is no assets to realise. Players wages etc will be paid from that company so Revenue and Customs get nothing.
Banks have their loans secured to land and buildings so they are watertight.
There are laws against trading illegally, which basically means trading knowing that you are unable to pay your bills. It also covers shadow directors and directors by association. In fact it is a very good law and the punishment appropriate (prison). Pity it is hardly ever used.1 -
IIRC 25 point deduction for Palace if they go into Administration again.
Highly unlikely though.1 -
I would have paid to visit Jordan in prison, just to sit there and laugh at him for half an hour.Redrobo said:
In fact it is a very good law and the punishment appropriate (prison). Pity it is hardly ever used.bobmunro said:
The whole law around company liquidation and the concept of limited liability would need complete overhaul.golfaddick said:going into Administration didn't do Southampton any harm. Relegated to League One, paid their creditors something daft like 10p in the £, new owners then pick them up for nowt & spend big on players to get promoted. Easy.
Now, if going into Administration meant that for every new player you buy you have to spend the same amount paying your creditors back it might be a bit more of a deterrent
Not that I'm disagreeing with you but it will never happen.
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Deliberately so.McBobbin said:I didn't really follow it... Why did Rangers go under? Was that unpaid tax?
http://www.heraldscotland.com/news/15803387.Not_a_penny_of___72m_owed_in_Rangers_tax_case_has_been_paid/
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I think clubs going into admin shouldn’t be able to achieve a promotion for three years.4
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And be relegated 3 divisionsShootersHillGuru said:I think clubs going into admin shouldn’t be able to achieve a promotion for three years.
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https://www.theguardian.com/football/2018/jun/06/premier-league-finances-club-guide-2016-17
Just wanted to post this so that we can all see that the Place section is blank.0 -
I think automatic relegation should be top of the list. In addition any parachute payments should be applied to debts. Only new investment can be used to rebuild the club5
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Parachute payments is a good point. The current system is morally wrong if teams after screwing their creditors can benefit from the massive PL income and parachute payments without repaying themSomervilleAddick said:I think automatic relegation should be top of the list. In addition any parachute payments should be applied to debts. Only new investment can be used to rebuild the club
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We had some issues with Quickbooks and our accountant needed an extra week to file our accounts. He cleared it with HMRC and everything was done properly. I then got a letter in the post asking us to pay a fine for being late! I spoke to our accountant, as he told us there was no problem and the lateness was partly his fault. He said to ignore it as it was just a letter they send to scare people. Have heard nothing more about it!
HMRC act like this to honest businesses who pay their dues, but let those that hide from them get away! Not looking to defend Palace here, but seems like a non story!
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