Sale of Southend United to Justin Rees and his consortium

[gpd]

very rough and ready approximations

season tickets average GBP 250 x 3000 = 750k

the sponsorship/ad figure (which surprised me - but is in line with previous figures from published accounts) ) was given me by a contact at 700k

We know the club has robust revenue - it is in the published accounts on companies house.

1.4 million pounds coming into the club so far in 2023 ..

I have heard running costs estimated at GBP 125k per month - this sounds very light to me but I have no insight to offer ..

Ron Martin has done a great job in mugging the fans .....

So not really facts after all.

 

[West Stand]

@West Stand might be best placed to advise on these issues as I believe he has good knowledge on issues relating to HMRC.

HMRC are obliged to set any payments made to the best advantage of the employer/ taxpayer.
In the day it used to be that you would set up an agreement which would say pay of £x against the arrears and the current was kept up to date but that was mainly PAYE where at that point in time late payment of employer taxes didn’t bear interest. Initially interest on late payment of PAYE was only due from the 19th April
That all changed . Almost certainly SUFC will currently being charged 4% on late payments of PAYE with an additional 5% added if the payment is still outstanding after 6 months
VAT meanwhile had surcharges and the like way before HMRC &IR merged. I believe that surcharges are no longer charged but and a big but interest on late paid VAT is horrendous. It’s set at Bank of England Base Rate 5.25% + 2.5% . So 7.75 %
Self Employed taxes have been interest bearing for years.
Unlike say getting a CCJ technically HMRC hasn’t been able to enforce non payment so on that basis I believe ( my experience is not bang up to date )
1) Current payments very very unlikely being kept up to date and are growing very quickly and that’s even before you calculate interest on unpaid sums
2) The WUO would almost certainly include interest up to the date of service . I am not 100% sure but pretty confident HMRC can’t add to their claim while it remains unpaid.
3) If the WUO is paid and dismissed all interest up the point of payment, and not included in the WUO will be calculated and added to any subsequent claim

 

[Che's Left Foot]

HMRC are obliged to set any payments made to the best advantage of the employer/ taxpayer.
In the day it used to be that you would set up an agreement which would say pay of £x against the arrears and the current was kept up to date but that was mainly PAYE where at that point in time late payment of employer taxes didn’t bear interest. Initially interest on late payment of PAYE was only due from the 19th April
That all changed . Almost certainly SUFC will currently being charged 4% on late payments of PAYE with an additional 5% added if the payment is still outstanding after 6 months
VAT meanwhile had surcharges and the like way before HMRC &IR merged. I believe that surcharges are no longer charged but and a big but interest on late paid VAT is horrendous. It’s set at Bank of England Base Rate 5.25% + 2.5% . So 7.75 %
Self Employed taxes have been interest bearing for years.
Unlike say getting a CCJ technically HMRC hasn’t been able to enforce non payment so on that basis I believe ( my experience is not bang up to date )
1) Current payments very very unlikely being kept up to date and are growing very quickly and that’s even before you calculate interest on unpaid sums
2) The WUO would almost certainly include interest up to the date of service . I am not 100% sure but pretty confident HMRC can’t add to their claim while it remains unpaid.
3) If the WUO is paid and dismissed all interest up the point of payment, and not included in the WUO will be calculated and added to any subsequent claim

The total cost for all these late payments, interest, solicitors (the list goes on) must be eye watering.

Imagine what competent ownership could achieve.

 

[defender05]

@dusterman all I know is they are still very much in the running, however I’m afraid I don’t know anything more than that due to NDA’s being signed

In the running? So they still haven't put a bid in yet then? are they waiting until the club get's wound up so that they try and get the land on the cheap.

 

[West Stand]

The total cost for all these late payments, interest, solicitors (the list goes on) must be eye watering.

Imagine what competent ownership could achieve.

Taking in isolation say paying one months PAYE or one quarters of VAT late isn’t that bad but when you are say 6 months late or two quarters in arrears the sums become massive

But add to that other penalties that possibly are being run up for the likes of not submitting Corporation Tax returns on time, employer forms like P35 and P11Ds and whist we have no idea if these type of requirements are being met I certainly wouldn’t bet even a £1 on these type of forms being filed on time

 

[Mr Browns Ghost]

I think we should all start fully getting our head around the fact there is currently no credible bid/team/individual who is buying the club before Oct 4th it’s no a mistake that no one can get anything over the line with Ron … I think you should all be fastening your hats and tightening your seat belts … and as for all this talk about ‘ what you’re going to do if we do go bust it lol lol lol don’t make me laugh … the majority of you have looked for any excuse possible to do nothing up to now .. you might hate that comment but in your hearts you know it’s true

 

[BEERMONSTER]

I know it was but i did try, i blame the parents personally

You potentially could have been reported to the NSPCC if you had been successful

 

[West Stand]

In the running? So they still haven't put a bid in yet then? are they waiting until the club get's wound up so that they try and get the land on the cheap.

What land is that ?

The debt the club is saddled with make me question why anyone would in their right mind even think about buying the club .

 

[dusterman]

I think we should all start fully getting our head around the fact there is currently no credible bid/team/individual who is buying the club before Oct 4th it’s no a mistake that no one can get anything over the line with Ron … I think you should all be fastening your hats and tightening your seat belts … and as for all this talk about ‘ what you’re going to do if we do go bust it lol lol lol don’t make me laugh … the majority of you have looked for any excuse possible to do nothing up to now .. you might hate that comment but in your hearts you know it’s true

And what have you done other than wind everyone up for months on end? Not just everyone and anyone, but people who are mentally frazzled at the thought of losing their club. If we do survive, god forbid (what a horrible thought that must be for you) how are you going to persecute us all then?

 

[Holy Joe]

In the running? So they still haven't put a bid in yet then? are they waiting until the club get's wound up so that they try and get the land on the cheap.

The club doesn't own any land so there won't be any in the winding up process.

One could argue the price of the land Ron has in different entities not subject to winding up will increase if there's no need to build a new stadium at FF before RH can be turned into housing.

 

[tommy tucker]

The club doesn't own any land so there won't be any in the winding up process.

One could argue the price of the land Ron has in different entities not subject to winding up will increase if there's no need to build a new stadium at FF before RH can be turned into housing.

Roland Rat and the rat family wont be able to build anything without the councils say so .Its in his best intresst not to **** the council off .

 

[Paulie Walnuts]

And what have you done other than wind everyone up for months on end? Not just everyone and anyone, but people who mentally frazzled at the thought of losing their club. If we do survive, god forbid (what a horrible thought that must be for you) how are you going to persecute us all then?

I think you are confusing "winding people up" with telling people exactly how it is and he and others have been pretty bang on thus far.

It's clear Ron is incapable of getting a deal over the line because it's taken 6 months and we are exactly where we started.

He is the most dilutional **** I have ever had the the misfortune to know who never really wanted to sell.

Why?, he is a greedy self centered rat who truly believes someone is going to pay all the debt HE has run up against our club and then go into bed with him which is actually insane. Rather than take a nice 7-8M win and retire peacefully, leaving an inheritance only we should dream of he wants x 10 of that even though he has completely and utterly scrwe3d up everything from developing FF, running a football club and being a decent human being by paying his staff on minimum wage whilst happily hiring helicopters for his sons wedding.

How can you honestly deal seriously with this type of person it's clearly impossible.

He thinks he is smarter the Judges, MPs and use fans but the truth of the matter he ain't, but the only loser will be the club and us fans (he thinks because we going to make his and his families' lives hell if we go belly up) but my point is the man is mad, on another planet and has developed a Robert Mugabe type madness in his old age.

Let's hope he never gets to enjoy any major financial win and we can then concentrate on two things which is reviving our club through a phoenix one or hopefully this current one and then go for his son's businesses and their partners because this **** in my eyes will be declaring war on us fans, one he will never win.

If any of you think I am being too harsh then feel free to send him my IP number so I can tell him this to his face (again).

 

[Hampshire Shrimp]

A judge said similar 2 judges ago…

HMRC would rather money from potential Aussie / council rather than making a company with no assets or value insolvent.

It has been made clear that we will be wound up if payment is not received by or before the 4th October. In fact we are lucky to have that chance because we would have been wound up last time if we were not a football club.

Be under no estimation, someone needs to come up with the money.

The has already lost us 10 points because of his own ego and expecting everyone to roll over with his antics. Time is up, pay up or take a reasonable price for the club and move on.

#MartinOut

 

[Dutch Branch]

I think you are confusing "winding people up" with telling people exactly how it is and he and others have been pretty bang on thus far.

It's clear Ron is incapable of getting a deal over the line because it's taken 6 months and we are exactly where we started.

He is the most dilutional **** I have ever had the the misfortune to know who never really wanted to sell.

Why?, he is a greedy self centered rat who truly believes someone is going to pay all the debt HE has run up against our club and then go into bed with him which is actually insane. Rather than take a nice 7-8M win and retire peacefully, leaving an inheritance only we should dream of he wants x 10 of that even though he has completely and utterly scrwe3d up everything from developing FF, running a football club and being a decent human being by paying his staff on minimum wage whilst happily hiring helicopters for his sons wedding.

How can you honestly deal seriously with this type of person it's clearly impossible.

He thinks he is smarter the Judges, MPs and use fans but the truth of the matter he ain't, but the only loser will be the club and us fans (he thinks because we going to make his and his families' lives hell if we go belly up) but my point is the man is mad, on another planet and has developed a Robert Mugabe type madness in his old age.

Let's hope he dies a nasty death before he gets to enjoy any major financial win and we can then concentrate on two things which is reviving our club through a phoenix one or hopefully this current one and then go for his son's businesses and their partners because this **** in my eyes will be declaring war on us fans, one he will never win.

If any of you think I am being too harsh then feel free to send him my IP number so I can tell him this to his face (again).

Mugabe indeed couldn’t agree more.

 

[basilrobbie]

I think you are confusing "winding people up" with telling people exactly how it is and he and others have been pretty bang on thus far.

It's clear Ron is incapable of getting a deal over the line because it's taken 6 months and we are exactly where we started.

He is the most dilutional **** I have ever had the the misfortune to know who never really wanted to sell.

Why?, he is a greedy self centered rat who truly believes someone is going to pay all the debt HE has run up against our club and then go into bed with him which is actually insane. Rather than take a nice 7-8M win and retire peacefully, leaving an inheritance only we should dream of he wants x 10 of that even though he has completely and utterly scrwe3d up everything from developing FF, running a football club and being a decent human being by paying his staff on minimum wage whilst happily hiring helicopters for his sons wedding.

How can you honestly deal seriously with this type of person it's clearly impossible.

He thinks he is smarter the Judges, MPs and use fans but the truth of the matter he ain't, but the only loser will be the club and us fans (he thinks because we going to make his and his families' lives hell if we go belly up) but my point is the man is mad, on another planet and has developed a Robert Mugabe type madness in his old age.

Let's hope he dies a nasty death before he gets to enjoy any major financial win and we can then concentrate on two things which is reviving our club through a phoenix one or hopefully this current one and then go for his son's businesses and their partners because this **** in my eyes will be declaring war on us fans, one he will never win.

If any of you think I am being too harsh then feel free to send him my IP number so I can tell him this to his face (again).

I think you are crossing a line, and if the owner or his family are reading this, making a bad situation marginally worse, I think you should remove the last couple of paragraphs.

 

[manor15]

Let’s play nicely and stay on topic please. We’ll all be just as angry and upset as each other if this all ends badly.

 

[Tommy2holes]

I think you are crossing a line, and if the owner or his family are reading this, making a bad situation marginally worse, I think you should remove the last couple of paragraphs.

Make a bad situation worse.

What's he going to do? Kill the club twice!!!

 

[Holy Joe]

Roland Rat and the rat family wont be able to build anything without the councils say so .Its in his best intresst not to **** the council off .

The interests of the council and Ron in building houses are aligned - the council could, in theory, make it difficult for Ron, but I suspect the need for housing will prevail.

 

[CanveyCastle]

And what have you done other than wind everyone up for months on end? Not just everyone and anyone, but people who are mentally frazzled at the thought of losing their club. If we do survive, god forbid (what a horrible thought that must be for you) how are you going to persecute us all then?

I have seen the gentleman at Aahsole Manor with his whole family banners and flag protesting.

A true fan with strong principles.

 

[SS9_Shrimper]

I think we should all start fully getting our head around the fact there is currently no credible bid/team/individual who is buying the club before Oct 4th it’s no a mistake that no one can get anything over the line with Ron … I think you should all be fastening your hats and tightening your seat belts … and as for all this talk about ‘ what you’re going to do if we do go bust it lol lol lol don’t make me laugh … the majority of you have looked for any excuse possible to do nothing up to now .. you might hate that comment but in your hearts you know it’s true

You’re exactly right. So many “I can’t make the protests due to commitments”. Funny how everyone can find 2 - 3 hours to get out the house to watch a game Saturday and Tuesday, but suddenly can’t to get up to Ron’s gaff for an hour over the course of 3 months.