Transfer embargo - Page 12

Wynonie Harris · 16-07-2010, 11:43

Khan resignation to be confirmed next month (From Lancashire Telegraph)

Stanley’s transfer embargo may not be lifted until next week at the earliest after a further delay in finalising the annual accounts.

So does that mean "next Tuesday" is out of the window now?

AccyMad · 16-07-2010, 12:34

Curiouser & curiouser - it's getting more & more difficult to make head nor tail of what is going on at Stanley This time of year i'm usually excited & full of anticipation at the prospect of a brand new season but i'm finding it more & more difficult not to be extremely worried about the current state of our club

Stanleymad · 16-07-2010, 12:41

Quote:

Originally Posted by AccyMad

Curiouser & curiouser - it's getting more & more difficult to make head nor tail of what is going on at Stanley This time of year i'm usually excited & full of anticipation at the prospect of a brand new season but i'm finding it more & more difficult not to be extremely worried about the current state of our club

Same here, not as enthused as normal, but have manged to wear the shirt today least i feel comfier in that than the club prospect of is it isnt it game atm

Exile on Spencer St · 16-07-2010, 14:37

This is a take on the last twelve months or so, in the absence of any inside information whatsoever and based purely on conjecture from what I read on this and the other sites. I think it could be basis of a new soap if anyone from the BBC is reading.

Stanley never kept 'books' like any other business; cash slopped around from turnstile to pocket. The chairman and others may or may not have put money into the club but no-one knows or can prove the truth.
But soon enough, the Cardboard Millionaire saw what was about to happen and jumped ship to the SS Chester before the proverbial hit the financial fan. The D'On hoped he could but discovered he couldn't buy outright control or stop the fan. Messrs Khan and Marsden stepped up at last minute and threw themselves and their wallets in front of the fan to save the club. The payback was a thorough audit but that proves tricky as no books were kept (c'mon, keep up). The Cardboard Millionaire, having watched SS Chester go down with all hands on board, bobs up in his lifevest and demands his dues. But there's no agreement or proof of who owes who what, when and why. Meanwhile, the fan keep whirring as cash dries up again over the summer.
Break for adverts.
Join us again "next week" for the next episode.

Haggis316 · 16-07-2010, 20:52

Not long now!

Footy Nut · 17-07-2010, 11:08

Have we one or two embargoes?
I ask because Southend have an embargo for owing the PFA monies and I couldn't remember if we still had any outstanding loans with them.
My memory isn't as good as it was?

VALAIRIAN · 17-07-2010, 11:43

To the best of my knowledge we are under embargo for the books being late, but who knows????

mab · 17-07-2010, 14:17

Quote:

Originally Posted by VALAIRIAN

To the best of my knowledge we are under embargo for the books being late, but who knows????

Just the new ruling embargo for late accounts

any moneys owing to the PFA have been payed back

cashman · 17-07-2010, 15:07

Quote:

Originally Posted by mab

Just the new ruling embargo for late accounts

any moneys owing to the PFA have been payed back

The real question that merits n answer to all who supported the club in there darkest days, is WHY are we now in this position of accounts being late?

mab · 17-07-2010, 15:22

Quote:

Originally Posted by cashman

The real question that merits n answer to all who supported the club in there darkest days, is WHY are we now in this position of accounts being late?

Very good question cashy,may be and its just me thinking this!!! That with all the tax bills and other money problems that the club have been faced with, the task of sorting the accouts out was a bigger task than anyone imagined and so it seems now,how long has it taken up to now 3months and it still hasn't been finalised. We as supporters can only hope its sorted and coley can sign the players up ASP..And all of us can put this feasco behind us and move on

cashman · 17-07-2010, 16:52

Quote:

Originally Posted by mab

Very good question cashy,may be and its just me thinking this!!! That with all the tax bills and other money problems that the club have been faced with, the task of sorting the accouts out was a bigger task than anyone imagined and so it seems now,how long has it taken up to now 3months and it still hasn't been finalised. We as supporters can only hope its sorted and coley can sign the players up ASP..And all of us can put this feasco behind us and move on

could be, who knows? but a simple explanation to allay fears was all that was required n even thats never happened, simply not good enough.

lancsdave · 17-07-2010, 19:00

It's been mentioned on more than one occasion the problem is with the opening balances. Opening balances inlcude outstanding debts, of which any loans would be classed as. In 20 years working in IT supporting accounting systems, I have never ever seen a signed fag packet as proof of loan, I somehow don't think the authorities class this as official documentation

maccawozzagod · 17-07-2010, 22:29

to register any previous full year accounts they will have to detail the apparent loans made by the cardboard millionaire (and presumably where this money was spent). Once it is documented then that will be an admissable debt by the club and will have to be paid back. Whatever we 'invent' the accounts to be will have to be accepted by both the club and Mr Whalley as true and accurate Mr Whalley. That is what I assume the hold ups to be. We don't want the debt to appear and he wants it to be as high as possible. But for it to be as high as possible we/he need to prove where that money went for it to have been spent - not forgetting that over £300k worth of tax wasn't paid neither then a huge hole appears in our finances

Wynonie Harris · 20-07-2010, 15:19

Quote:

Originally Posted by AccyMad

Under new Football League rules the Reds have been placed under an embargo as they are late with their 2009/10 accounts going into Companies House.
But club officials are set to meet with their accountants on Tuesday and get the all-clear.
"The accountants have had a tough job with the finances and loans from that year but we are now there" said chief executive Rob Heys. We will meet up with them on Tuesday, make sure everyone is happy, sign them off and then send them to Companies House and the embargo will be lifted."

So, presumably, they've had their meeting and the accounts have been signed off? I wonder if the club are going to tell us the good news today?

cashman · 20-07-2010, 15:24

Quote:

Originally Posted by Wynonie Harris

So, presumably, they've had their meeting and the accounts have been signed off? I wonder if the club are going to tell us the good news today?

My money would be on No @ No.