Question What are the 'football related debt' that we have not paid exactly?

[united we stand]

Apologies if I have missed it, but does anyone know what debt we haven't paid and how much (and if you have a crystal ball when we will be paying it !). I know someone suggested months ago that we had not paid the Wembley money, but I can't recall if it was a throw away comment or not.

 

[Crawliano]

Ron owes Vistaprint £100,000 for his order of 25,000 "WEMBLEY CHAMPIONS 2013" shirts. As we didn't win, he doesn't feel the need to pay. He got Bilel Mohsni to sign the document claiming all responsibility to the order, Ron thought that because Bilel wasn't English if we lost he wouldn't have to pay. After getting it wrong, he got angry and made Phil Brown sack Bilel the next day.

Allegedly.

 

[Smiffy]

Football debts could mean lots of things. Ticket money for Wembley, ticket money for away games. Wages owed to current or ex players. Money owed to the FL/PFA etc etc.

Take your pick. It could be one or many of those.

The fact we have been under this embargo for many months now, would suggest it is a rather large debt thats for sure.

 

[THE SEVENTIES NORTH BANK]

It's a shame, because if the team was still up the top, we would have gates of around 9000, instead of around 5000. That embargo debt may have been sorted soon. Mid table with the 5000ish gates, we are leaking more money each Month, just getting further in it.

 

[fbm]

Although it doesn't help, it isn't the case that we would automatically be near the top if we weren't under embargo. There are plenty of times in our history (90% of it I reckon) when we haven't been under an embargo and haven't been near the top.

 

[turkishm]

Also our books for season 2012 have not yet been sumited to companys house. I think this is another reason for us being under an embargo, among others. Must admit, I am not certain of this, someone like Mick may be able to spread a bit more light on that matter.

 

[Firestorm]

Also our books for season 2012 have not yet been sumited to companys house. I think this is another reason for us being under an embargo, among others. Must admit, I am not certain of this, someone like Mick may be able to spread a bit more light on that matter.

I think that Non submission of annual accounts to the FL means that the club is placed under an embargo. The deadlines are the same as companies house and that is, for us, May 31st , so if we have been under an embargo since June and there are debts for which the only consequence for non payment is an Embargo ,until we can get the accounts signed off it would make some level of sense to use the funds for more pressing matters.

We are not getting enough money in, we cant borrow any more at the moment. Until that changes the first priority is to pay those who could prevent us from continuing ie the utilities and HMRC.

 

[North Wales Shrimper]

Regarding the accounts, the problem is that the accounts cannot be signed off until the accounts for Martin Dawn are signed off, which as a "plc", have to be signed off by an auditor. Frankly, I cannot see any auditor wanting to sign off the accounts as a going concern so can only imagine that he's trying to get them to sign off but qualified (as in previous years).

TBH, I'm not sure we'd be allowed to sign a 20th player either as technically we only need enough players for 11 plus subs. We're already over and the usual attitude of the FL is, that's what you've got a youth squad for.

 

[chapperzUK]

I think that Non submission of annual accounts to the FL means that the club is placed under an embargo. The deadlines are the same as companies house and that is, for us, May 31st , so if we have been under an embargo since June and there are debts for which the only consequence for non payment is an Embargo ,until we can get the accounts signed off it would make some level of sense to use the funds for more pressing matters.

We are not getting enough money in, we cant borrow any more at the moment. Until that changes the first priority is to pay those who could prevent us from continuing ie the utilities and HMRC.

Isn't the deadline 30th April? 9 months from year ending on the 31st July.

The dates for the FL are strange, Championship clubs have until 1st March the following year while League 1 and 2 clubs have until the same date as Companies House. (see 16.2.1 & 16.2.2)

http://www.football-league.co.uk/regulations/20130704/section-4-clubs_2293633_2125725

 

[Harry Bullocks]

Regardless, we're still in the "brown and smelly" for the foreseeable future..:darkcloud:

 

[turkishm]

I think that Non submission of annual accounts to the FL means that the club is placed under an embargo. The deadlines are the same as companies house and that is, for us, May 31st , so if we have been under an embargo since June and there are debts for which the only consequence for non payment is an Embargo ,until we can get the accounts signed off it would make some level of sense to use the funds for more pressing matters.

We are not getting enough money in, we cant borrow any more at the moment. Until that changes the first priority is to pay those who could prevent us from continuing ie the utilities and HMRC.

This is a question I have asked before, but no one seems to no. Is there a time limit on an embargoed club, one assumes that no club can stay in an embargoed state season after season, without having eventually to explain itself to the Football League.

 

[chapperzUK]

This is a question I have asked before, but no one seems to no. Is there a time limit on an embargoed club, one assumes that no club can stay in an embargoed state season after season, without having eventually to explain itself to the Football League.

Don't think anyone knows, but Coventry might be under a similar embargo to us.

http://www.coventrycity-mad.co.uk/news/tmnw/city_now_under_a_rolling_embargo_802085/index.shtml

 

[Barry.C]

Southend is currently worse than a carp Aim Company at the moment in terms of communication with fans. I thought Ron did a pretty good job when he decided to regularly speak to us all. Dont know whether he got fed up with criticism or other events in his life took over. But it sure is time he took to the stage again and told us where this it at embargo wise, nice and clearly. Transparancy Ron, any chance, Come on step up to the mike you can do it!!? Chris Phillips more corn to you for extra sleuthing?

 

[Jam_Man]

Southend is currently worse than a carp Aim Company at the moment in terms of communication with fans. I thought Ron did a pretty good job when he decided to regularly speak to us all. Dont know whether he got fed up with criticism or other events in his life took over. But it sure is time he took to the stage again and told us where this it at embargo wise, nice and clearly. Transparancy Ron, any chance, Come on step up to the mike you can do it!!? Chris Phillips more corn to you for extra sleuthing?

Ron is happy to be at the forefront and talking when things are going well, but not so much when everything fell apart.

Transparency is something we all want but cant get as with any company they cant just reveal all of the negative things going on as it would harm the club.

That said theres nothing wrong with us as supporters wanting assurances the owners can afford to run the club and deliver the stadium, even that is impossible at the moment.