Accounts!!

WTF
Posts: 59
Joined: Sat Nov 03, 2018 9:17 am
Re: Accounts!!

Post by WTF » Thu Feb 13, 2020 3:25 pm

Richard Petty wrote:
Thu Feb 13, 2020 3:13 pm
WTF wrote:
Thu Feb 13, 2020 2:05 pm
brian bloomfield wrote:
Thu Feb 13, 2020 10:24 am


Close WTF the Chairman actually stated 300k estimated loss for 2018-19. I thought he was 250k out and wrote to the board stating this for their considered response. Taking into consideration the unknown GW payoff (say 50k) this would amount to 300k miscalculation 8 weeks before the end of the season, a 100% increase!
Hi Brian, thanks for the update, what in real terms does it mean for the club in your comment in a later post about an increase in shares? Do the Club need this to take things forward or is the development going to assist, assuming there are no charges on the Clubs assets that will need satisfying?
Hi WTF, it was me that asked that question of Brian. The reason I asked is because one of the most effective way for a shortfall to be reduced or even removed altogether is by share purchasing as it removes the debt altogether whereas a loan to clear a debt means the debt still exists. In terms of the development that secures future financial stability but even on the shortest of timeframes is a bit too far away to settle immediate shortfalls. Having said that I am not too up on accountancy practices but because much of the debt is unlikely to ever be called in you could of course continue to carry a negative balance from one year to another as long as the cash flow can be maintained.
Thank you Richard

WTF
Posts: 59
Joined: Sat Nov 03, 2018 9:17 am
Re: Accounts!!

Post by WTF » Thu Feb 13, 2020 3:27 pm

brian bloomfield wrote:
Thu Feb 13, 2020 3:09 pm
The situation regarding shares is rather convoluted resulting from the statements made at the AGM last year.

It was confirmed at the AGM that approximately 360,000 shares were being purchased between Chris Chapman and the new overseas share owner relating to the Simon Paget-Brown proxy directorship.

On the Statement of Capital dated 19th January 2019 posted to Companies House on the 30th January, 744,300 shares were paid up and in circulation and no shares had been issued to the new directors noted above following their appointment to the board on 20th November 2018.

If as stated during the AGM that these 360,000 new shares were to be issued, then that would make the total capital shares in circulation circa 1.1 million which of course could not be right as we only apparently had an authorised share capital of 1,000,000 according to the Chairman’s official statement.
As mentioned in a previous post there is no cap on share issue and this it at the sole discretion of the BOD.
In the last year only 120,100 shares have been issued so 240,000 shares promised at the AGM weren’t purchased and subsequently not issued.
Dime Medical purchased 100,000 shares and this was then updated to Disposable Medical Equipment Limited who are a cash rich company with an excellent business track record.
Thanks Brian, Im afraid its all a bit lost on me, all Im concerned with is the health and welfare of the Club!

Dr Jim Royle
Posts: 95
Joined: Mon Sep 12, 2011 6:21 am
Re: Accounts!!

Post by Dr Jim Royle » Thu Feb 13, 2020 3:44 pm

Seems to me that we really are hoping the redevelopment goes ahead and pretty quick, looking like the longer it goes on, the more money raised just covers our shortages which grows and grows. The new ground wont just be about securing our future, more like securing our history.

Football eh? If only we had some rich yank wanting to buy our little football club ....... if only.

redandbluescb
Posts: 96
Joined: Sat May 19, 2018 9:29 pm
Re: Accounts!!

Post by redandbluescb » Thu Feb 13, 2020 3:58 pm

So in plain English the club is only in debt to its shareholders who wont ever get their money
back anyway unless the club is sold.

WTF
Posts: 59
Joined: Sat Nov 03, 2018 9:17 am
Re: Accounts!!

Post by WTF » Thu Feb 13, 2020 4:06 pm

redandbluescb wrote:
Thu Feb 13, 2020 3:58 pm
So in plain English the club is only in debt to its shareholders who wont ever get their money
back anyway unless the club is sold.
Is that correct? Is there anyone else the club owes money to that has a charge etc? Bit like what happens when we take out a mortgage

redandbluescb
Posts: 96
Joined: Sat May 19, 2018 9:29 pm
Re: Accounts!!

Post by redandbluescb » Thu Feb 13, 2020 4:22 pm

WTF wrote:
Thu Feb 13, 2020 4:06 pm
redandbluescb wrote:
Thu Feb 13, 2020 3:58 pm
So in plain English the club is only in debt to its shareholders who wont ever get their money
back anyway unless the club is sold.
Is that correct? Is there anyone else the club owes money to that has a charge etc? Bit like what happens when we take out a mortgage
I was asking the question rather than knowing the answer.

WTF
Posts: 59
Joined: Sat Nov 03, 2018 9:17 am
Re: Accounts!!

Post by WTF » Thu Feb 13, 2020 4:38 pm

redandbluescb wrote:
Thu Feb 13, 2020 4:22 pm
WTF wrote:
Thu Feb 13, 2020 4:06 pm
redandbluescb wrote:
Thu Feb 13, 2020 3:58 pm
So in plain English the club is only in debt to its shareholders who wont ever get their money
back anyway unless the club is sold.
Is that correct? Is there anyone else the club owes money to that has a charge etc? Bit like what happens when we take out a mortgage
I was asking the question rather than knowing the answer.
Ah, got you, thank you! Great minds think alike lol

Birdman
Posts: 118
Joined: Wed Jan 10, 2007 9:47 am
Location: Aldershot
Re: Accounts!!

Post by Birdman » Thu Feb 13, 2020 4:58 pm

redandbluescb wrote:
Thu Feb 13, 2020 4:22 pm
WTF wrote:
Thu Feb 13, 2020 4:06 pm
redandbluescb wrote:
Thu Feb 13, 2020 3:58 pm
So in plain English the club is only in debt to its shareholders who wont ever get their money
back anyway unless the club is sold.
Is that correct? Is there anyone else the club owes money to that has a charge etc? Bit like what happens when we take out a mortgage
I was asking the question rather than knowing the answer.
A ‘?’ might have been useful.

Dom Sterlings Left Leg
Posts: 18
Joined: Thu Jan 03, 2008 4:00 pm
Re: Accounts!!

Post by Dom Sterlings Left Leg » Thu Feb 13, 2020 5:16 pm

Sounds like everything is coming along nicely... :shock:

80fc
Posts: 22
Joined: Thu May 17, 2007 12:20 pm
Re: Accounts!!

Post by 80fc » Thu Feb 13, 2020 6:50 pm

Anybody know anything about Aldershot Town Football Club Regeneration Limited. And no I'm not going to ask Mr Azeem myself before anyone starts.

AMJS007
Posts: 28
Joined: Fri Nov 12, 2010 6:30 pm
Re: Accounts!!

Post by AMJS007 » Thu Feb 13, 2020 8:00 pm

80fc wrote:
Thu Feb 13, 2020 6:50 pm
Anybody know anything about Aldershot Town Football Club Regeneration Limited. And no I'm not going to ask Mr Azeem myself before anyone starts.
Only that they have 4 Directors,2 from the club and 2 from Natta

https://beta.companieshouse.gov.uk/comp ... 2/officers

Stenhouse
Posts: 15
Joined: Wed Jan 10, 2007 10:58 am
Location: Farnborough
Re: Accounts!!

Post by Stenhouse » Thu Feb 13, 2020 10:43 pm


HackJowarth
Posts: 10
Joined: Sun Apr 19, 2015 11:18 pm
Re: Accounts!!

Post by HackJowarth » Fri Feb 14, 2020 1:36 pm

HackJowarth wrote:
Thu Feb 13, 2020 9:21 am
The ATFC Limited Accounts have been circulated to Shareholders etc. To say they don’t make good reading would be a huge understatement!! Of course, they need “approving” at The AGM which, is forthcoming. Said Accounts will be in the public eye via Companies House in due course. Good luck to anyone trying to explain that lot away!!
The Accounts circulated are unaudited!

James Frazer
Posts: 9
Joined: Sat Jul 10, 2010 2:25 pm
Location: Alexandra Park
Re: Accounts!!

Post by James Frazer » Fri Feb 14, 2020 1:47 pm

AMJS007 wrote:
Thu Feb 13, 2020 8:00 pm
80fc wrote:
Thu Feb 13, 2020 6:50 pm
Anybody know anything about Aldershot Town Football Club Regeneration Limited. And no I'm not going to ask Mr Azeem myself before anyone starts.
Only that they have 4 Directors,2 from the club and 2 from Natta

https://beta.companieshouse.gov.uk/comp ... 2/officers
The initial shareholding is split 50/50 between the football club and Natta.

James Frazer
Posts: 9
Joined: Sat Jul 10, 2010 2:25 pm
Location: Alexandra Park
Re: Accounts!!

Post by James Frazer » Fri Feb 14, 2020 1:49 pm

HackJowarth wrote:
Fri Feb 14, 2020 1:36 pm
HackJowarth wrote:
Thu Feb 13, 2020 9:21 am
The ATFC Limited Accounts have been circulated to Shareholders etc. To say they don’t make good reading would be a huge understatement!! Of course, they need “approving” at The AGM which, is forthcoming. Said Accounts will be in the public eye via Companies House in due course. Good luck to anyone trying to explain that lot away!!
The Accounts circulated are unaudited!
"Your company may qualify for an audit exemption if it has at least 2 of the following:
  • an annual turnover of no more than £10.2 million
    assets worth no more than £5.1 million
    50 or fewer employees on average
"


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