Striking off order for SEL issued 26th Oct

Dorsetshrimper · Oct 27, 2022

Getting back to the subject of this thread.

The notice gives the directors 2 months to get the accounts filed, which may or may not be achievable. Given the complex structure to RM's empire the accountants need plenty of time to ensure all inter company transactions are correctly recorded in all entities.

It is also my understanding that creditors can object to the striking off of a company. This is because the obviously cannot recover what they are owed if the company no longer exists.

Looking at this company at Companies House it happened to this company before, a similar First Gazette notice was issued in April 2022 only to be discontinued a few days later.

Danshrimper · Oct 27, 2022

Rayleigh boy said:
interesting ... of course some of the SEL accounts are available to view on companies house -

it is mushroom season so it might be drug induced mind warp but I imagined 350k going from SUFC to SEL - obviously for rent or similar - and the trip included imagining that RM was director of SEL and got all the lolly...

I am sure I have got this wrong and lots of ITK types can explain how the drugs have affected my reasoning.

apolgoes in advance for my mistake ;-)

This isn’t anything new. Everybody is fully aware that SEL, i.e Ron, charge the club an annual rent fee and management fee. (£750k a year as per the increasingly outdated SUFC accounts)

Do you realise that this money doesn’t physically go from SUFC to the group companies and into Ron’s pocket? It accrues year on year and adds to the ‘debt’ owed to Ron by the club. This does raise it’s own questions, but he isn’t pocketing the cash every year as you seem to be suggesting.

Shrimpergonzo · Oct 27, 2022

Looking at the dates on the Companies House website, on the 1st November 2022 (the date of the notice) the accounts for ye 31/1/21 will be exactly 1 year and 1 day overdue so I reckon this is an automatic thing.

Last time it happened the accounts were produced about a week later so would imagine the same will happen again.

If you go to the Companies House website and click on the tab "filing history" you will see that Ron pulls this trick pretty much every time. https://find-and-update.company-information.service.gov.uk/company/03685980

Fairport · Oct 27, 2022

Kat_r said:
If it’s for late accounts then it’s no big drama. But seems like Ron likes to push things to the wire. It’s a very odd way to run a business. Sloppy. Why do it like this? Cat and mouse. Strange.

It's because he runs unprofitable businesses, has constant cash flow issues and is always ducking and diving financially until hopefully FF comes along to bail him out.

Dutch Branch · Oct 27, 2022

Supershrimper said:
Company accounts or non payment of tax. Depends what day of the week it is i suppose. Could be one, could be the other, mostly likely both

Accounts over due by a year

Kat_r · Oct 27, 2022

Perfectly normal football club

Rayleigh boy · Oct 28, 2022

Danshrimper said:
This isn’t anything new. Everybody is fully aware that SEL, i.e Ron, charge the club an annual rent fee and management fee. (£750k a year as per the increasingly outdated SUFC accounts)

Do you realise that this money doesn’t physically go from SUFC to the group companies and into Ron’s pocket? It accrues year on year and adds to the ‘debt’ owed to Ron by the club. This does raise it’s own questions, but he isn’t pocketing the cash every year as you seem to be suggesting.

sure - remember I know nothing ... but I don't think any money "physically goes" anywhere these days ..

what does SEL do with the money that it receives ? As far as I can see it does receive money ... does it pays dividends to its director ?

I do believe that RM is due some lolly for his efforts running the club and I have always believed that someone running a business with a 7 million pound turnover will easily be able to extract some cash ..

As for the debt accrued year on year and owed to Ron .... ummm .... no comment.

I do hope RM succeeds in his dream - we all benefit if he does ...
but I also believe SUFC is paying the price, subsidising his masterplan, with NL football.

And no not everyone is aware of how much money goes out of SUFC to RMs companies.

Danshrimper · Oct 28, 2022

Rayleigh boy said:
sure - remember I know nothing ... but I don't think any money "physically goes" anywhere these days ..

what does SEL do with the money that it receives ? As far as I can see it does receive money ... does it pays dividends to its director ?

I do believe that RM is due some lolly for his efforts running the club and I have always believed that someone running a business with a 7 million pound turnover will easily be able to extract some cash ..

As for the debt accrued year on year and owed to Ron .... ummm .... no comment.

I do hope RM succeeds in his dream - we all benefit if he does ...
but I also believe SUFC is paying the price, subsidising his masterplan, with NL football.

And no not everyone is aware of how much money goes out of SUFC to RMs companies.

By ‘physically go’ I meant the money doesn’t leave SUFC’s bank and go into SEL’s, it’s left as a creditor at the end of every year. I wasn’t talking about a literal physical movement of £750k worth of £50 notes.

SEL doesn’t receive the money, that’s the point. If SEL was receiving the money every year a debt wouldn’t be accruing would it?

Rayleigh boy · Oct 28, 2022

Danshrimper said:
By ‘physically go’ I meant the money doesn’t leave SUFC’s bank and go into SEL’s, it’s left as a creditor at the end of every year. I wasn’t talking about a literal physical movement of £750k worth of £50 notes.

SEL doesn’t receive the money, that’s the point. If SEL was receiving the money every year a debt wouldn’t be accruing would it?

weird cos when i looked at SEL accounts I saw money coming in from SUFC ..

but what do I know .? ....

if you want to believe that RM is owed 14 million by SUFC
and want to believe that RM is great at business
and has put millions into SUFC and we all should be extremely grateful
thats fine - it makes sense to you.
Your reality is your reality...

perhaps I should extremely grateful that with a turnover of 7 million quid RM took us into the NL and with planning permission on two valuable sites he still can't do any better than end up embargoed and fighting off HMRC winding up orders ...

to me its an utter sh+t show and typical of this country - lions led by donkeys and utter rip off merchants in charge of everything ...

RM is totally the Liz Truss of football chairman

Rayleigh boy · Oct 28, 2022

Danshrimper said:
By ‘physically go’ I meant the money doesn’t leave SUFC’s bank and go into SEL’s, it’s left as a creditor at the end of every year. I wasn’t talking about a literal physical movement of £750k worth of £50 notes.

SEL doesn’t receive the money, that’s the point. If SEL was receiving the money every year a debt wouldn’t be accruing would it?

maybe it was just the mushrooms but ...

SEL get the money and pay their director dividends -

bluesfansince1952 · Oct 28, 2022

I do not doubt that there are many legitimate questions to be asked as to how Ron 'runs' his businesses, and, where the money made by SUFC goes.
What I have never seen asked on here (and please correct me if I am wrong, anyone) is where the money comes from when Ron suddenly produces a very large cheque made payable to the tax man to prevent our demise.
In October 2020 he stumped up with a more than a million to keep us going; do we know on what account that cheque was drawn on?
(Of course, I am presuming here he paid by cheque and not in used notes)

Danshrimper · Oct 28, 2022

Rayleigh boy said:
weird cos when i looked at SEL accounts I saw money coming in from SUFC ..

but what do I know .? ....

if you want to believe that RM is owed 14 million by SUFC
and want to believe that RM is great at business
and has put millions into SUFC and we all should be extremely grateful
thats fine - it makes sense to you.
Your reality is your reality...

perhaps I should extremely grateful that with a turnover of 7 million quid RM took us into the NL and with planning permission on two valuable sites he still can't do any better than end up embargoed and fighting off HMRC winding up orders ...

to me its an utter sh+t show and typical of this country - lions led by donkeys and utter rip off merchants in charge of everything ...

RM is totally the Liz Truss of football chairman

‘Turnover’ in accounting terms represents the fact that a transaction has taken place, i.e SEL have invoiced SUFC £750k for rent and management fees. Not necessarily that money has been received.

I’m not an accountant, perhaps someone on here is and can explain it better. But accounts are not prepared on a cash in and cash out basis. You seem to think that turnover in the accounts represents the actual money that has been received in that year, but that isn’t the case.

Also, I don’t ‘believe’ that we owe RM 14 Million. This is the creditor figure that’s sit in SUFC’s accounts as owing to the group companies. The figures in accounts aren’t just plucked out of thin air, they come from things not being paid. Such as the £750k management and rent fee which doesn’t get paid. This isn’t a defence of Ron, it’s just a fact.

Rayleigh boy said:
maybe it was just the mushrooms but ...

SEL get the money and pay their director dividends -

Except SEL don’t ‘get’ the money at all.

Read under the ‘results and dividends’ heading on page 2 of the SEL accounts and it will tell you that no dividends were paid to SEL directors.

Rayleigh boy · Oct 30, 2022

Danshrimper said:
‘Turnover’ in accounting terms represents the fact that a transaction has taken place, i.e SEL have invoiced SUFC £750k for rent and management fees. Not necessarily that money has been received.

I’m not an accountant, perhaps someone on here is and can explain it better. But accounts are not prepared on a cash in and cash out basis. You seem to think that turnover in the accounts represents the actual money that has been received in that year, but that isn’t the case.

Also, I don’t ‘believe’ that we owe RM 14 Million. This is the creditor figure that’s sit in SUFC’s accounts as owing to the group companies. The figures in accounts aren’t just plucked out of thin air, they come from things not being paid. Such as the £750k management and rent fee which doesn’t get paid. This isn’t a defence of Ron, it’s just a fact.

Except SEL don’t ‘get’ the money at all.

Read under the ‘results and dividends’ heading on page 2 of the SEL accounts and it will tell you that no dividends were paid to SEL directors.

oh really ...

I am not going to back over it all but did think I saw a 350k getting paid out ..

But believe me in a business turning over 7 million quid the business owner will be able to take enough money out ti fill up his Bentley and pay his council tax ..

Anyway ... now we are on the up its an even better time to get rid ...

Sammy Shrimper · Nov 11, 2022

Dorsetshrimper said:
Getting back to the subject of this thread.

The notice gives the directors 2 months to get the accounts filed, which may or may not be achievable. Given the complex structure to RM's empire the accountants need plenty of time to ensure all inter company transactions are correctly recorded in all entities.

It is also my understanding that creditors can object to the striking off of a company. This is because the obviously cannot recover what they are owed if the company no longer exists.

Looking at this company at Companies House it happened to this company before, a similar First Gazette notice was issued in April 2022 only to be discontinued a few days later.

View attachment 22757