Annual accounts

[Shrimper]

Which begs the question why?

Incompetence

 

[Supa Shrimpa]

Just waiting to see how the Ron lovers are going to defend this !

 

[Supershrimper]

There is a new head of finance. I'd imagine (hope) that getting the accounts signed off would be at the top of his (no doubt) very long list.

Although the top spot is probably a tie between paying staff, paying players, paying HMRC and locating a pot to pee in

 

[Shrimper]

Wonder how big the penalty is

 

[brigg blue]

Wonder how big the penalty is

Hopefully Dalby takes it....

 

[Smiffy]

Roots Hall Ltd & Elounda LLP now filed -

https://find-and-update.company-information.service.gov.uk/company/03710296/filing-history

ELOUNDA LLP filing history - Find and update company information - GOV.UK

ELOUNDA LLP - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity

find-and-update.company-information.service.gov.uk

 

[Spaceman Spiff]

Roots Hall Ltd & Elounda LLP now filed -

https://find-and-update.company-information.service.gov.uk/company/03710296/filing-history

ELOUNDA LLP filing history - Find and update company information - GOV.UK

ELOUNDA LLP - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity

find-and-update.company-information.service.gov.uk

Looking at the Roots Hall Ltd accounts they are pretty potless. However Elounda (the group co) had more than £700k cash at bank. If so, why the hell wasn’t it transferred within the group and used to pay staff salaries??

 

[mattytheshrimper]

Roots Hall Ltd & Elounda LLP now filed -

https://find-and-update.company-information.service.gov.uk/company/03710296/filing-history

ELOUNDA LLP filing history - Find and update company information - GOV.UK

ELOUNDA LLP - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity

find-and-update.company-information.service.gov.uk

I'm far from an expert here and this may not be new news but it states here Ron resigned from being a director in 2022 and Jack Martin is now the director. Now I knew he was involved of course but I don't seem to remember Ron resigning. I know this is only for paper work purposes only, much like his other companies and his house etc.

 

[Supershrimper]

Looking at the Roots Hall Ltd accounts they are pretty potless. However Elounda (the group co) had more than £700k cash at bank. If so, why the hell wasn’t it transferred within the group and used to pay staff salaries??

Thats as at 31/07/2022.

I had £4k in my bank account after my salary and bonus was paid in March 2022. Was it there a month later, not a chance.

If you look at the figure from prior year it was only £100k. I say only but i'd quite like to have that kind of cash in my account right now

 

[Spaceman Spiff]

Thats as at 31/07/2022.

I had £4k in my bank account after my salary and bonus was paid in March 2022. Was it there a month later, not a chance.

If you look at the figure from prior year it was only £100k. I say only but i'd quite like to have that kind of cash in my account right now

Good point - I only flicked through to be honest. That does mean the cash at bank position improved by £600k during our first season in the NL?

Perhaps this money went to White Horse for the training ground work.

If it didn’t, then I would still be surprised if they lost all that cash between July 2022 and October (?) 2022 when the most recent series of issues with non-payment of staff really kicked off? Similar time to when White Horse started work I think?

 

[GJShrimper]

I'm far from an expert here and this may not be new news but it states here Ron resigned from being a director in 2022 and Jack Martin is now the director. Now I knew he was involved of course but I don't seem to remember Ron resigning. I know this is only for paper work purposes only, much like his other companies and his house etc.

Government says 'no commitment' in place for £30m loan for new Southend United stadium

THE Government says there is “no formal commitment” in place for a £30million injection to bankroll plans to build a new Southend United…

www.echo-news.co.uk

That would be this part, would it not?
Probably did it as thought he was going to jail for the tax fraud.

 

[londonblue]

Government says 'no commitment' in place for £30m loan for new Southend United stadium

THE Government says there is “no formal commitment” in place for a £30million injection to bankroll plans to build a new Southend United…

www.echo-news.co.uk

That would be this part, would it not?
Probably did it as thought he was going to jail for the tax fraud.

You do know that some people are going to read that without seeing it was nearly a year ago and panic?

 

[Supa Shrimpa]

Looking at the Roots Hall Ltd accounts they are pretty potless. However Elounda (the group co) had more than £700k cash at bank. If so, why the hell wasn’t it transferred within the group and used to pay staff salaries??

Because this is the funds that they control for themselves, not the football clubs. The club gets the debt, they hold the assets. Of course, you'll notice they file the accounts for their own co.s on time !

 

[LBBlue]

It’s 30 April on Sunday, so tomorrow is the last working day before then. So if there is no submission of accounts to Companies House by then, SUFC Ltd will be late with 2019/20, 2020/21 and 2021/22 accounts. Three years accounts late with ever increasing penalties for late submission. Surely this must be some kind of record.

Company Directors commit a criminal offence when accounts are submitted late and can be taken to court and personally fined , however, there appears to be no enforcement in place.

On 31st December 2022, that nice Mr Lawrence said that the 2019/20 accounts were almost complete.

https://www.southendunited.co.uk/news/2022/december/club-statement/

So 4 months on and still no sign. Murkier and murkier …..

 

[londonblue]

It’s 30 April on Sunday, so tomorrow is the last working day before then. So if there is no submission of accounts to Companies House by then, SUFC Ltd will be late with 2019/20, 2020/21 and 2021/22 accounts. Three years accounts late with ever increasing penalties for late submission. Surely this must be some kind of record.

Company Directors commit a criminal offence when accounts are submitted late and can be taken to court and personally fined , however, there appears to be no enforcement in place.

On 31st December 2022, that nice Mr Lawrence said that the 2019/20 accounts were almost complete.

https://www.southendunited.co.uk/news/2022/december/club-statement/

So 4 months on and still no sign. Murkier and murkier …..

Not really that murky. It's almost certain the accounts are complete but we can't afford to pay the accountants and/or auditors and as such they won't sign them off, meaning they can't be submitted.

 

[Supa Shrimpa]

It’s 30 April on Sunday, so tomorrow is the last working day before then. So if there is no submission of accounts to Companies House by then, SUFC Ltd will be late with 2019/20, 2020/21 and 2021/22 accounts. Three years accounts late with ever increasing penalties for late submission. Surely this must be some kind of record.

Company Directors commit a criminal offence when accounts are submitted late and can be taken to court and personally fined , however, there appears to be no enforcement in place.

On 31st December 2022, that nice Mr Lawrence said that the 2019/20 accounts were almost complete.

https://www.southendunited.co.uk/news/2022/december/club-statement/

So 4 months on and still no sign. Murkier and murkier …..

I'm amazed he hasn't been struck off as a director, by now !

 

[LBBlue]

Not really that murky. It's almost certain the accounts are complete but we can't afford to pay the accountants and/or auditors and as such they won't sign them off, meaning they can't be submitted.

My theory is that he is having trouble convincing the auditors that the Company and it’s parent company and others in the group are going concerns. He is having to wait until Fossets Farm is fully under way.

 

[Supa Shrimpa]

My theory is that he is having trouble convincing the auditors that the Company and it’s parent company and others in the group are going concerns. He is having to wait until Fossets Farm is fully under way.

They'll have a long wait, then !

 

[West Stand]

It’s 30 April on Sunday, so tomorrow is the last working day before then. So if there is no submission of accounts to Companies House by then, SUFC Ltd will be late with 2019/20, 2020/21 and 2021/22 accounts. Three years accounts late with ever increasing penalties for late submission. Surely this must be some kind of record.

Company Directors commit a criminal offence when accounts are submitted late and can be taken to court and personally fined , however, there appears to be no enforcement in place.

On 31st December 2022, that nice Mr Lawrence said that the 2019/20 accounts were almost complete.

https://www.southendunited.co.uk/news/2022/december/club-statement/

So 4 months on and still no sign. Murkier and murkier …..

Forget all this about payments to HMRC in particular and credit in general failure to file one years accounts on time at Companies House is in itself enough for the NL board to implode an embargo

 

[Dutch Branch]

So what is the actual amount of money required to lift the f..king embargo and to is it owed. That’s clearly has to be priority number 1.