GFC Holdings Ltd restored to Companies Register | Page 6 | Vital Football

GFC Holdings Ltd restored to Companies Register

DurhamGills said:
1000s are late filing accounts - not sure i can say mine are always on time

Which he is legally able to do and it at his prerogative and based on this I dont blame him
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So, it's OK to actually have the company struck off before getting the company restored to the register and filing accounts
 
As I said at the outset the consolidated audited accounts show a debt of £9m, only of the following can be true...

1) there is indeed a £9m debt and one of the Group companies has incorrect accounts, or has been dissolved with a £9m debt.

2) the consolidated group accounts are wrong an incorrectly show a £9m debt.

3) there is another subsidiary that we don’t know about that has the £9m debt.

4) I have completely misread the situation and can’t read accounts - if that’s the case then over 20 years as an FCA, a senior statutory auditor and a tax adviser has been wasted!

I make no further comment.
 
Deadlyderek said:
As I said at the outset the consolidated audited accounts show a debt of £9m, only of the following can be true...

1) there is indeed a £9m debt and one of the Group companies has incorrect accounts, or has been dissolved with a £9m debt.

2) the consolidated group accounts are wrong an incorrectly show a £9m debt.

3) there is another subsidiary that we don’t know about that has the £9m debt.

4) I have completely misread the situation and can’t read accounts - if that’s the case then over 20 years as an FCA, a senior statutory auditor and a tax adviser has been wasted!

I make no further comment.
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Like you, I've wasted my years
 
5. Bono came along with his "Drop The Debt" campaign, and the bank(s) did drop the debt?
 
You may be right you may be wrong BUT if there was anything untoward the press would be over this like a rash
 
Wayne.Kerr said:
The charge is added/removed at the time it occurs and does not correspond to the financial year end
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Que?

If the accounts for the year 2017-2018 were eventually registered at Companies House, what stops somebody coming on board after the date of those accounts?

FFS Wayne, stop arguing against people just for the sake of it!!!
 
Hardy31 said:
Que?

If the accounts for the year 2017-2018 were eventually registered at Companies House, what stops somebody coming on board after the date of those accounts?

FFS Wayne, stop arguing against people just for the sake of it!!!
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I'm arguing because the adding or removal of a charge is not dependent on filing the accounts
 
Obviously only a guess but my money would be on, the debt has indeed been written off and it’s just an error in the group consolidated accounts. If that what has happened, and as I said it’s only a guess, then it’s great news because the balance sheet would be £9m better than posted.

These things happen, I’m not suspicious at all, but it’s sonething interesting to discuss, especially for us anorak bean counters who like to reconcile everything.

Personally I’ve always felt the club is in safe hands, I remember the pre-scaly and Tony Smith days and it’s come a long way since then - but thankfully we are still a good old fashioned local league football club packed full of passion - much better than the plastic money obsessed premiership version.

Any way it’s happy days we won yesterday.
 
Deadlyderek said:
Obviously only a guess but my money would be on, the debt has indeed been written off and it’s just an error in the group consolidated accounts. If that what has happened, and as I said it’s only a guess, then it’s great news because the balance sheet would be £9m better than posted.
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I'd be very concerned for the auditors as this would obviously be a material misstatement. I can't say 100% of my audits are squeaky clean as things get missed now and again but that would be one hell of a cock up.
 
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