| Swans in talks to take control of stadium on 19:26 - Mar 2 with 1392 views | taffpunk |
| Swans in talks to take control of stadium on 18:43 - Mar 2 by monmouth |
Fair point Mr punk. Maybe you can join us and have your riot for sacking fack aye Mackay at the same time? Football fans eh? Fickle as hell. You'd still be in red if you'd managed not to be so shit.
I'd still like a few choruses of you greedy bastards before May, but sadly I think it would take a situation I don't want to see to make it happen. |
Never sang it myself, hardly went in the Premiership, but your points are correct. Football fans have changed and not for the better, I go and watch local Amateur League most weeks, far more fun especially cos my 2 adult sons play for the same team.
I just expected a little more from you lot, sign of the times I guess. |  |
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| Swans in talks to take control of stadium on 19:34 - Mar 2 with 1378 views | monmouth |
| Swans in talks to take control of stadium on 19:26 - Mar 2 by taffpunk |
Never sang it myself, hardly went in the Premiership, but your points are correct. Football fans have changed and not for the better, I go and watch local Amateur League most weeks, far more fun especially cos my 2 adult sons play for the same team.
I just expected a little more from you lot, sign of the times I guess. |
You're a good man....for a scummer, ha...
Yes, the protesters are well in the minority now unless PL is threatened by the look of it. I'd like to think the flame still flickers, but things are very different now. Protests have got Hull, Blackburn, Coventry absolutely nowhere. Maybe you have to have nothing left to lose. |  |
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| Swans in talks to take control of stadium on 19:36 - Mar 2 with 1370 views | dobjack2 |
| Swans in talks to take control of stadium on 19:26 - Mar 2 by taffpunk |
Never sang it myself, hardly went in the Premiership, but your points are correct. Football fans have changed and not for the better, I go and watch local Amateur League most weeks, far more fun especially cos my 2 adult sons play for the same team.
I just expected a little more from you lot, sign of the times I guess. |
Agree changed and not for the better.
A lot of people who go there now have only known comparative success And don't see a problem with the share sale.
A What have the trust ever done for us scenario. One way or another the trust has failed to get these people on board so as long as we remain in the premier the sell outs can tide any storm created by a minority of fans. | | | |
| Swans in talks to take control of stadium on 23:28 - Mar 2 with 1281 views | londonlisa2001 |
| Swans in talks to take control of stadium on 14:16 - Mar 2 by Nookiejack |
Yes most strange why they haven't been published since 17th December 2015. You would have thought they would have been published around 17th Dec 2016 and now we are in March 2017. |
The club's financial year end is 31 July so accounts are due 30 April. The deadline is 9 months after the year end. | | | |
| Swans in talks to take control of stadium on 23:34 - Mar 2 with 1268 views | londonlisa2001 |
| Swans in talks to take control of stadium on 08:58 - Mar 2 by Uxbridge |
You keep saying it's an excellent lease, but that is purely from a protectionist perspective. It's a horrible lease from a financial perspective.
Surely there's a way of marrying up the two. |
Actually it's a horrible lease from a financial perspective when the club is in the premier league (for the club and the council).
If the club was in the 1st division it's a wonderful lease for the club. That's where we were when it was set up of course.
Swings and roundabouts - that's why it suits all parties in some ways to get it changed now.
There are also FFP implications. | | | |
| Swans in talks to take control of stadium on 09:53 - Mar 3 with 1159 views | Uxbridge |
| Swans in talks to take control of stadium on 23:34 - Mar 2 by londonlisa2001 |
Actually it's a horrible lease from a financial perspective when the club is in the premier league (for the club and the council).
If the club was in the 1st division it's a wonderful lease for the club. That's where we were when it was set up of course.
Swings and roundabouts - that's why it suits all parties in some ways to get it changed now.
There are also FFP implications. |
I know, I said the same in subsequent posts  |  |
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| Swans in talks to take control of stadium on 12:33 - Mar 3 with 1116 views | Nookiejack |
| Swans in talks to take control of stadium on 23:28 - Mar 2 by londonlisa2001 |
The club's financial year end is 31 July so accounts are due 30 April. The deadline is 9 months after the year end. |
The accounts ending 31st July 2015 were filed at Companies House on 17 December 2015 - hence were completed and audited circa 5 months after the year end.
The latest accounts 31st July 2016 still haven't been filed and we are now 7 months after the year end - noting your post below that they don't have to be filed until 30 April 2017.
Does anyone understand why it is taking longer this financial year? Is the Finance department under resourced? I suppose Don Keefe left maybe he ran a smoother operation? | | | |
| Swans in talks to take control of stadium on 13:13 - Mar 3 with 1094 views | londonlisa2001 |
| Swans in talks to take control of stadium on 12:33 - Mar 3 by Nookiejack |
The accounts ending 31st July 2015 were filed at Companies House on 17 December 2015 - hence were completed and audited circa 5 months after the year end.
The latest accounts 31st July 2016 still haven't been filed and we are now 7 months after the year end - noting your post below that they don't have to be filed until 30 April 2017.
Does anyone understand why it is taking longer this financial year? Is the Finance department under resourced? I suppose Don Keefe left maybe he ran a smoother operation? |
Last year, the reporting period was extended to 15 months. When you do that, you still have to report for corporation tax purposes for the initial 12 months, and then for an 'extra' 3 months as a stub period (you do two returns).
As such, the financial information needs to be prepared to allow you to do your CT submission.
Corp Tax is due 9 months and 1 day after the reporting period (so now, its 1st May for example).
For last year, the CT will have been due 9 months and 1 day after the end of the earlier period, then again 9 months and 1 day after the end of the extra 3 months (for the stub period). So the first CT due would be 1 Feb not 1 May. The CT return isn't done to those dates, but payment of tax is, so you have to prepare the return to know what if anything you owe.
They will have had to prepare everything to meet this deadline, hence the earlier filing - if all finished, you may as well file it.
It's not suspicious, not even slightly. | | | |
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| Swans in talks to take control of stadium on 15:01 - Mar 3 with 1008 views | waynekerr55 |
Worlds apart from the chimps that used to have responsibility for the club. Nice to see an executive starting to earn a salary... |  |
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| Swans in talks to take control of stadium on 15:16 - Mar 3 with 988 views | Nookiejack |
| Swans in talks to take control of stadium on 13:13 - Mar 3 by londonlisa2001 |
Last year, the reporting period was extended to 15 months. When you do that, you still have to report for corporation tax purposes for the initial 12 months, and then for an 'extra' 3 months as a stub period (you do two returns).
As such, the financial information needs to be prepared to allow you to do your CT submission.
Corp Tax is due 9 months and 1 day after the reporting period (so now, its 1st May for example).
For last year, the CT will have been due 9 months and 1 day after the end of the earlier period, then again 9 months and 1 day after the end of the extra 3 months (for the stub period). So the first CT due would be 1 Feb not 1 May. The CT return isn't done to those dates, but payment of tax is, so you have to prepare the return to know what if anything you owe.
They will have had to prepare everything to meet this deadline, hence the earlier filing - if all finished, you may as well file it.
It's not suspicious, not even slightly. |
Thank you for explaining.
By extending your accounting period does not extend the CT payment date, for original accounting period.
I am sure one could pass a Masters in Finance from knowledge acquired on Planet Swans. | | | |
| Swans in talks to take control of stadium on 16:29 - Mar 3 with 920 views | londonlisa2001 |
| Swans in talks to take control of stadium on 15:16 - Mar 3 by Nookiejack |
Thank you for explaining.
By extending your accounting period does not extend the CT payment date, for original accounting period.
I am sure one could pass a Masters in Finance from knowledge acquired on Planet Swans. |
No, it doesn't extend it. The longest period that can be covered by a CT return is 12 months - you harmonise with your financial year end by the stub period submission (you can report on a shorter period, so 3 months is fine).
Although your CT return submission date is changed by your change of financial year end (both the 12 months and 3 month returns are submitted 1 year after the latter date, albeit with a standard fine from HMRC which is then withdrawn when you point out the change), the due date for tax to be paid remains at 9 months plus 1 day after the original date (then again 3 months later) so all work has to be completed anyway.
It's all a nonsense, paying tax before your return is submitted, but it is what it is. | | | |
| Swans in talks to take control of stadium on 20:29 - Mar 3 with 795 views | Vetchfielder |
| Swans in talks to take control of stadium on 16:29 - Mar 3 by londonlisa2001 |
No, it doesn't extend it. The longest period that can be covered by a CT return is 12 months - you harmonise with your financial year end by the stub period submission (you can report on a shorter period, so 3 months is fine).
Although your CT return submission date is changed by your change of financial year end (both the 12 months and 3 month returns are submitted 1 year after the latter date, albeit with a standard fine from HMRC which is then withdrawn when you point out the change), the due date for tax to be paid remains at 9 months plus 1 day after the original date (then again 3 months later) so all work has to be completed anyway.
It's all a nonsense, paying tax before your return is submitted, but it is what it is. |
Can I ask Lisa or any other accounting types why a company would take so long before releasing accounts ?
I'm not from an accounting background but I know from my IT experience that company accounts can be produced real time instantaneously. assuming you have decent accounting software.
Ok, I know that accountants like to make "adjustments" but why would this take a company several months to carry out this exercise ?
Are there any good reasons for delaying the submission to Companies House?
This is a generic question really, not specifically relating to SCFC. |  |
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