| tomorrow can't come quick enough 14:17 - Oct 16 with 2263562 views | batman |
Not for us, but for Bury.
i was credit checking a potential customer and decided to nosey onto
BFC's file and was (or maybe not) supprised to see a new CCJ for circa £22k lodged
only Wednesday this week.
looks like they are in need of a bumper crowd tomorrow to settle some bills |  | | |  |
| tomorrow can't come quick enough on 21:31 - Sep 22 with 7241 views | judd |
| tomorrow can't come quick enough on 21:22 - Sep 22 by RAFCBLUE |
Yes - voluntary strike off is common.
However, this isn't a voluntarily strike off. Instead Companies House are starting proceedings to kill the company due to non filing of documents.
To voluntarily strike off you would:
1) Complete activity
2) Pay all creditors, including all due tax. This removes any outstanding charges
3) Pay shareholders the profit - usually as a dividend.
4) Apply to Companies House.
Unless I'm missing something bury football club doesn't cease to exist (yet) so the filing of legally compliant accounts late raises the usual questions.
Obviously, they'll be filed next week and the issue will go away right? |
I misunderstood the party issuing the strike off. |  |
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| tomorrow can't come quick enough on 23:02 - Sep 22 with 7123 views | Thacks_Rabbits |
| tomorrow can't come quick enough on 21:31 - Sep 22 by judd |
I misunderstood the party issuing the strike off. |
Are my points made in last post valid chaps? I am no tax expert but would be interested to know. |  |
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| tomorrow can't come quick enough on 23:18 - Sep 22 with 7100 views | judd |
| tomorrow can't come quick enough on 23:02 - Sep 22 by Thacks_Rabbits |
Are my points made in last post valid chaps? I am no tax expert but would be interested to know. |
I think the honest answer is fook knows. The complicated Web of 64 directorships of non performing businesses is up there with understanding the prolonged appeal of East fookin enders or anyone paying for George Donnelly. Limited companies limit the liability of directors in the event of failure but personal guarantees aside of company are enforceable as I understand it. His biggest issue is working capital to pay immediate liabilities such as wages and short term requirements such as VAT and income tax/NI. He also has to service massive interest payments just to keep the debt on an even keel. They seem to have had decent cash injections with player sales recently but that is not perpetual income. It buys time. The tax issue on closing businesses I cannot offer any knowledge on but I'm sure it's a consideration to legally avoid shelling cash out. | |
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| tomorrow can't come quick enough on 18:59 - Nov 2 with 6616 views | batman |
Thought I’d bring this old favourite back for re examination.
Now a lot on here though that Bury would be out of Business by now, but
it appears that Stewie is quite adept at teaming and ladling his borrowings.
It’s has been noted on their board that the 750k loan from ‘monething’ has
been repaid. What hasn’t been noted however that a new loan has been taken
out for £1,600,00.00 yes that’s 1.6 MILLION UK POUNDS.
His supporters will say that’s its underpin the next phase of his grand plan for
a new stadium
His detractors will say that its to enable the club to pay its day to day bills.
It could just be coincidence that there were rumours of the staff being paid late
last mo th, but what is fact is that there were 2 new CCJ’s lodged in October.
The only ones that knows for sure is Stewie himself and his closest cohorts. | | | |
| tomorrow can't come quick enough on 20:00 - Nov 2 with 6552 views | Yorkshire_Dale |
| tomorrow can't come quick enough on 18:59 - Nov 2 by batman |
Thought I’d bring this old favourite back for re examination.
Now a lot on here though that Bury would be out of Business by now, but
it appears that Stewie is quite adept at teaming and ladling his borrowings.
It’s has been noted on their board that the 750k loan from ‘monething’ has
been repaid. What hasn’t been noted however that a new loan has been taken
out for £1,600,00.00 yes that’s 1.6 MILLION UK POUNDS.
His supporters will say that’s its underpin the next phase of his grand plan for
a new stadium
His detractors will say that its to enable the club to pay its day to day bills.
It could just be coincidence that there were rumours of the staff being paid late
last mo th, but what is fact is that there were 2 new CCJ’s lodged in October.
The only ones that knows for sure is Stewie himself and his closest cohorts. |
Good work Batman......keep the updates coming,please?
Will today's interest rise by Monsieur Carney have any impact on these new borrowing?
Suspect they are locked in at Fixed Rates. How does Stewie get all this credit, the Lender must trust him beyond the norm? | | | |
| tomorrow can't come quick enough on 20:35 - Nov 2 with 6501 views | RAFCBLUE |
| tomorrow can't come quick enough on 18:59 - Nov 2 by batman |
Thought I’d bring this old favourite back for re examination.
Now a lot on here though that Bury would be out of Business by now, but
it appears that Stewie is quite adept at teaming and ladling his borrowings.
It’s has been noted on their board that the 750k loan from ‘monething’ has
been repaid. What hasn’t been noted however that a new loan has been taken
out for £1,600,00.00 yes that’s 1.6 MILLION UK POUNDS.
His supporters will say that’s its underpin the next phase of his grand plan for
a new stadium
His detractors will say that its to enable the club to pay its day to day bills.
It could just be coincidence that there were rumours of the staff being paid late
last mo th, but what is fact is that there were 2 new CCJ’s lodged in October.
The only ones that knows for sure is Stewie himself and his closest cohorts. |
This has been the pattern for the last few years.
1) Borrow to spend, it doesn't work. Fire the manager (Blackwell).
2) Borrow some more, to refinance loan 1) and the interest, it doesn't work. Fire the manager (Flitcroft).
3) Borrow some more, to refinance loan 2) and the interest, it doesn't work. Fire the manager (Clark).
There may be a round 4, but the music will eventually stop.
Ask Chesterfield. |  |
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| tomorrow can't come quick enough on 18:06 - Nov 3 with 6245 views | aleanddale |
so the £750 000 loan has been replaced with one twice as large!
you couldn't make it up...
At what temperature does white chocolate melt? | | | |
| tomorrow can't come quick enough on 19:21 - Nov 3 with 6183 views | dingdangblue |
| tomorrow can't come quick enough on 18:06 - Nov 3 by aleanddale |
so the £750 000 loan has been replaced with one twice as large!
you couldn't make it up...
At what temperature does white chocolate melt? |
New stadiums don't come cheap you know!  |  |
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| tomorrow can't come quick enough on 20:16 - Nov 3 with 6149 views | TVOS1907 |
| tomorrow can't come quick enough on 19:21 - Nov 3 by dingdangblue |
New stadiums don't come cheap you know! |
No need for the last three words. |  |
| When I was your age, I used to enjoy the odd game of tennis. Or was it golf? |
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| tomorrow can't come quick enough on 20:38 - Nov 3 with 6122 views | 442Dale |
Listening to Ryan Lowe talking about how the Chairman would give a manager any cup revenue back in January illustrates how ridiculous the culture is at Bury
And why, when people are listening, does he feel the need to start sentences with "Listen..."? |  |
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| tomorrow can't come quick enough on 21:34 - Nov 3 with 6074 views | RAFCBLUE |
| tomorrow can't come quick enough on 20:38 - Nov 3 by 442Dale |
Listening to Ryan Lowe talking about how the Chairman would give a manager any cup revenue back in January illustrates how ridiculous the culture is at Bury
And why, when people are listening, does he feel the need to start sentences with "Listen..."? |
The gate money from the 0-4 home defeat by us in the Checkatrade will offer them at least one week's rent at Carrington. | |
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| tomorrow can't come quick enough on 10:35 - Nov 15 with 5769 views | RAFCBLUE |
| tomorrow can't come quick enough on 20:38 - Nov 3 by 442Dale |
Listening to Ryan Lowe talking about how the Chairman would give a manager any cup revenue back in January illustrates how ridiculous the culture is at Bury
And why, when people are listening, does he feel the need to start sentences with "Listen..."? |
Ryan is going to have to ask the Chairman what he will be giving back in January given there is now no FA Cup or League Cup revenue.
Perhaps they expect to win the Checkatrade? | |
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| tomorrow can't come quick enough on 13:58 - Nov 24 with 5291 views | batman |
Things must be really bad at the moment.
a new CCJ lodged for just £751.00.
i know their day to day ops man said they pushed their payments to
the limit but this looks like bad form even for them
Hope their new manager is being paid his Salary in advance | | | |
| tomorrow can't come quick enough on 18:44 - Apr 15 with 4756 views | RAFCBLUE |
A timely bump for this thread ahead of the end of the season.
My predictions:
1) bury to go into administration on or before 30th June. They have 1 more home game before the end of the 30th June and three payday scenarios (April, May and June) to get there. 7 players are currently unpaid up to date on contracts and the PFA are already involved.
2) Transfer embargo. PFA financial support comes at a cost and with no money coming in there will be no additional signings. Players as saleable assets out are next to zero.
3) Stewart Day INCREASES ticket prices.
4) Carrington lease ended due to cost reasons. As great as a good training ground is, the cost is astronomical!
Watch this space! | |
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| tomorrow can't come quick enough on 19:25 - Apr 15 with 4705 views | 1mark1 |
| tomorrow can't come quick enough on 18:44 - Apr 15 by RAFCBLUE |
A timely bump for this thread ahead of the end of the season.
My predictions:
1) bury to go into administration on or before 30th June. They have 1 more home game before the end of the 30th June and three payday scenarios (April, May and June) to get there. 7 players are currently unpaid up to date on contracts and the PFA are already involved.
2) Transfer embargo. PFA financial support comes at a cost and with no money coming in there will be no additional signings. Players as saleable assets out are next to zero.
3) Stewart Day INCREASES ticket prices.
4) Carrington lease ended due to cost reasons. As great as a good training ground is, the cost is astronomical!
Watch this space! |
If they go into administration, on or before 30th June, which I am not saying they will, when would they get their points deducted ? |  |
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| tomorrow can't come quick enough on 19:32 - Apr 15 with 4683 views | TVOS1907 |
| tomorrow can't come quick enough on 19:25 - Apr 15 by 1mark1 |
If they go into administration, on or before 30th June, which I am not saying they will, when would they get their points deducted ? |
The following season, I think. | |
| When I was your age, I used to enjoy the odd game of tennis. Or was it golf? |
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| tomorrow can't come quick enough on 19:37 - Apr 15 with 4666 views | 1mark1 |
| tomorrow can't come quick enough on 19:32 - Apr 15 by TVOS1907 |
The following season, I think. |
If that’s the case than that would be fairer than having points deducted this season when it would be of no detriment. That would be the case whoever went into administration.
Is it still ten points deducted? | |
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| tomorrow can't come quick enough on 19:50 - Apr 15 with 4623 views | TVOS1907 |
| tomorrow can't come quick enough on 19:37 - Apr 15 by 1mark1 |
If that’s the case than that would be fairer than having points deducted this season when it would be of no detriment. That would be the case whoever went into administration.
Is it still ten points deducted? |
No idea | |
| When I was your age, I used to enjoy the odd game of tennis. Or was it golf? |
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| tomorrow can't come quick enough on 20:09 - Apr 15 with 4571 views | 1mark1 |
From 2007—08, any club entering administration after the fourth Thursday in March would have their 10-point deduction suspended until the following season. If the club is relegated the points will be deducted from their tally at the start of next season. If the club stays up the 10 points will be taken off their final total | |
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| tomorrow can't come quick enough on 20:18 - Apr 15 with 4548 views | dingdangblue |
| tomorrow can't come quick enough on 19:37 - Apr 15 by 1mark1 |
If that’s the case than that would be fairer than having points deducted this season when it would be of no detriment. That would be the case whoever went into administration.
Is it still ten points deducted? |
I think the rules changed a few years ago when a team (can't remember who) went into administration almost straight after the final whistle when they got relegated. Lost the points that season when they were down already - then started the next season on 0. Pretty sure teams can't do it these days. | |
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| tomorrow can't come quick enough on 20:39 - Apr 15 with 4500 views | ColDale |
Given most of the debt is to SD through the way they're funded, I'd be surprised if they were to look at admin. Wouldn't solve most the financial issues as much of it is footballing debt due to the contracts given out, and that is guaranteed to be paid out at 100% to retain the golden share. |  | | |
| tomorrow can't come quick enough on 21:02 - Apr 15 with 4465 views | RAFCBLUE |
| tomorrow can't come quick enough on 20:39 - Apr 15 by ColDale |
Given most of the debt is to SD through the way they're funded, I'd be surprised if they were to look at admin. Wouldn't solve most the financial issues as much of it is footballing debt due to the contracts given out, and that is guaranteed to be paid out at 100% to retain the golden share. |
It depends how SD's own finances are running Col.
It could be the case that it is beneficial for SD to restructure his own group finances and at the same time shaft bury fc with the backstop that he controls the underlying property asset.
In that case, the creditors (secured, footballing and unsecured) would have to get in line.
Ultimately, bury FC is not a currently a going concern (in the business sense) and it isn't solvent within the continued support of SD.
The golden share is the thing that will make SD think hard about it, but there is not a viable way of recouping £12.5m spent to date without Championship football and from August 2018 bury will be at least 24 months away from that...... | |
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| tomorrow can't come quick enough on 21:14 - Apr 15 with 4448 views | pnc4eva1 |
| tomorrow can't come quick enough on 20:18 - Apr 15 by dingdangblue |
I think the rules changed a few years ago when a team (can't remember who) went into administration almost straight after the final whistle when they got relegated. Lost the points that season when they were down already - then started the next season on 0. Pretty sure teams can't do it these days. |
I think that the club was Wrexham |  |
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| tomorrow can't come quick enough on 21:15 - Apr 15 with 4444 views | TVOS1907 |
| tomorrow can't come quick enough on 21:14 - Apr 15 by pnc4eva1 |
I think that the club was Wrexham |
I'm sure Leeds did something similar as well. | |
| When I was your age, I used to enjoy the odd game of tennis. Or was it golf? |
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