Accounts Overdue

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harriershane
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Re: Accounts Overdue

Post by harriershane » Wed Jul 01, 2020 6:38 pm

millzeuk wrote:
Wed Jul 01, 2020 6:18 pm
MDJB wrote:
Wed Jul 01, 2020 4:05 pm
Khist offered to launch a crowd funding type of venture on behalf of the club (and at the request of the club) a while ago but this was then strangely declined by the club. It seems to many that CG’s influence still prevails around Aggy. So much for RL’s public statement at the forum that he wanted to build bridges with them. As the only official supporters group representing Harriers fans, surely it’s time this was sorted.
Perhaps he’d be more inclined if KHIST’s passive aggressive statements and negativity towards the new owners was reigned in a little. I think it can also be said that their view of the new owners is coloured by the behaviour of the previous one.
Whilst fault can undoubtedly be attributed to both sides, I agree 100%. We call for attempts to increase commercial revenue, however when the owners attempt it, it’s “ill thought out” and the like. Of course I don’t have the inside track like those board members on KHIST, so my question is this, with apologies for any offence it may cause:

Is this beyond a club issue? Is this personal?

RL&NM have put in what they’ve put in, NM by all accounts is responsible for the signing of Hemmings and AMS, whilst trying to increase revenue and introduce initiatives to bring the club into the 21st century. Some like it, some need to be dragged kicking and screaming into it.

If someone would like to tell me I’m wide of the mark, I’d welcome it, without any of the moribund platitudes of fobbing off. If it’s not for public consumption, then DM me. I cannot be the only one with these thoughts and questions
He who dares...wins

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Re: Accounts Overdue

Post by pershoreharrier » Wed Jul 01, 2020 7:19 pm

PIRATE OF ZARAGOZA wrote:
Wed Jul 01, 2020 6:06 pm
pershoreharrier wrote:
Wed Jul 01, 2020 8:41 am
Whilst the accounts for KHFC ED LTD were filed some weeks ago albeit late showing debts of £150,000 for a 'dormant company' the accounts for KHFC remain outstanding and late together with the confirmation statement.

KHFC accounts were due on 29 Feb 2020 and the confirmation statement was due on 4 May 2020.

Whilst covid 19 can be used as a convenient excuse for the late submission of many things these days I cannot but get the feeling there is something more fundamental that is causing this late submission.

I also note that it is still recorded that we have 2 Directors and 1 Secretary but I thought I read somewhere that we had 2 new board members one of which was Male and whilst it may be claimed that they may be non-executive directors I am not aware that companies house affords any distinction in that regard.

I cannot help but get the feeling that the issues between Lane and Gordon are not fully resolved and that this may be the cause of the apparent inability of Lane to re-establish the links with KHIST for fear of the issues becoming more widely known. As the 'Boost the Budget' initiative struggles on the direct input of KHIST could make a major and significant difference if those bridges were re-established.

The Club I believe approached KHIST for money sometime ago so clearly the Club is in need of funds but the impasse to enable that to develop seems to remain which is a cause for concern.
Have you read those accounts correctly Pershore?
I believe so Pirate but I do not claim infallibility so if a correction is required I would be pleased to be advised of it and acknowledge it accordingly.

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Re: Accounts Overdue

Post by PIRATE OF ZARAGOZA » Wed Jul 01, 2020 8:06 pm

pershoreharrier wrote:
Wed Jul 01, 2020 7:19 pm
PIRATE OF ZARAGOZA wrote:
Wed Jul 01, 2020 6:06 pm
pershoreharrier wrote:
Wed Jul 01, 2020 8:41 am
Whilst the accounts for KHFC ED LTD were filed some weeks ago albeit late showing debts of £150,000 for a 'dormant company' the accounts for KHFC remain outstanding and late together with the confirmation statement.

KHFC accounts were due on 29 Feb 2020 and the confirmation statement was due on 4 May 2020.

Whilst covid 19 can be used as a convenient excuse for the late submission of many things these days I cannot but get the feeling there is something more fundamental that is causing this late submission.

I also note that it is still recorded that we have 2 Directors and 1 Secretary but I thought I read somewhere that we had 2 new board members one of which was Male and whilst it may be claimed that they may be non-executive directors I am not aware that companies house affords any distinction in that regard.

I cannot help but get the feeling that the issues between Lane and Gordon are not fully resolved and that this may be the cause of the apparent inability of Lane to re-establish the links with KHIST for fear of the issues becoming more widely known. As the 'Boost the Budget' initiative struggles on the direct input of KHIST could make a major and significant difference if those bridges were re-established.

The Club I believe approached KHIST for money sometime ago so clearly the Club is in need of funds but the impasse to enable that to develop seems to remain which is a cause for concern.
Have you read those accounts correctly Pershore?
I believe so Pirate but I do not claim infallibility so if a correction is required I would be pleased to be advised of it and acknowledge it accordingly.
I haven't a clue how the figures relate to each other but on page 2 of the statement it says there is no profit and no loss.


KHFC ED LTD BALANCE SHEET
(CONTINUED)
AS AT 31 MAY 2019
- 2 -
The company has not traded during the Period or the preceding financial period. During this time the company received no income and incurred no expenditure and therefore no profit and loss account is presented in these financial statements .

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Re: Accounts Overdue

Post by pershoreharrier » Wed Jul 01, 2020 8:33 pm

PIRATE OF ZARAGOZA wrote:
Wed Jul 01, 2020 8:06 pm
pershoreharrier wrote:
Wed Jul 01, 2020 7:19 pm
PIRATE OF ZARAGOZA wrote:
Wed Jul 01, 2020 6:06 pm
pershoreharrier wrote:
Wed Jul 01, 2020 8:41 am
Whilst the accounts for KHFC ED LTD were filed some weeks ago albeit late showing debts of £150,000 for a 'dormant company' the accounts for KHFC remain outstanding and late together with the confirmation statement.

KHFC accounts were due on 29 Feb 2020 and the confirmation statement was due on 4 May 2020.

Whilst covid 19 can be used as a convenient excuse for the late submission of many things these days I cannot but get the feeling there is something more fundamental that is causing this late submission.

I also note that it is still recorded that we have 2 Directors and 1 Secretary but I thought I read somewhere that we had 2 new board members one of which was Male and whilst it may be claimed that they may be non-executive directors I am not aware that companies house affords any distinction in that regard.

I cannot help but get the feeling that the issues between Lane and Gordon are not fully resolved and that this may be the cause of the apparent inability of Lane to re-establish the links with KHIST for fear of the issues becoming more widely known. As the 'Boost the Budget' initiative struggles on the direct input of KHIST could make a major and significant difference if those bridges were re-established.

The Club I believe approached KHIST for money sometime ago so clearly the Club is in need of funds but the impasse to enable that to develop seems to remain which is a cause for concern.
Have you read those accounts correctly Pershore?
I believe so Pirate but I do not claim infallibility so if a correction is required I would be pleased to be advised of it and acknowledge it accordingly.
I haven't a clue how the figures relate to each other but on page 2 of the statement it says there is no profit and no loss.


KHFC ED LTD BALANCE SHEET
(CONTINUED)
AS AT 31 MAY 2019
- 2 -
The company has not traded during the Period or the preceding financial period. During this time the company received no income and incurred no expenditure and therefore no profit and loss account is presented in these financial statements .
Noted Pirate - it is a reflection of a dormant company as I understand it ie no profit and no loss BUT also note the dormant company is carrying £150K of debt. The dormant company issue also calls into question the reports of a rising number of students generating large sums to sustain the education side and release profits into KHFC more widely. It appears that effectively instead £150K more was spent setting it up than was received. It all appears very confusing with the exception that there were no profits just a debt before it was effectively closed down to its dormant state.

Perhaps one of our accountant professionals on here might assist in voicing an opinion on what appears to be a sad state of affairs.

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Re: Accounts Overdue

Post by PIRATE OF ZARAGOZA » Wed Jul 01, 2020 9:21 pm

pershoreharrier wrote:
Wed Jul 01, 2020 8:33 pm
PIRATE OF ZARAGOZA wrote:
Wed Jul 01, 2020 8:06 pm
pershoreharrier wrote:
Wed Jul 01, 2020 7:19 pm
PIRATE OF ZARAGOZA wrote:
Wed Jul 01, 2020 6:06 pm
pershoreharrier wrote:
Wed Jul 01, 2020 8:41 am
Whilst the accounts for KHFC ED LTD were filed some weeks ago albeit late showing debts of £150,000 for a 'dormant company' the accounts for KHFC remain outstanding and late together with the confirmation statement.

KHFC accounts were due on 29 Feb 2020 and the confirmation statement was due on 4 May 2020.

Whilst covid 19 can be used as a convenient excuse for the late submission of many things these days I cannot but get the feeling there is something more fundamental that is causing this late submission.

I also note that it is still recorded that we have 2 Directors and 1 Secretary but I thought I read somewhere that we had 2 new board members one of which was Male and whilst it may be claimed that they may be non-executive directors I am not aware that companies house affords any distinction in that regard.

I cannot help but get the feeling that the issues between Lane and Gordon are not fully resolved and that this may be the cause of the apparent inability of Lane to re-establish the links with KHIST for fear of the issues becoming more widely known. As the 'Boost the Budget' initiative struggles on the direct input of KHIST could make a major and significant difference if those bridges were re-established.

The Club I believe approached KHIST for money sometime ago so clearly the Club is in need of funds but the impasse to enable that to develop seems to remain which is a cause for concern.
Have you read those accounts correctly Pershore?
I believe so Pirate but I do not claim infallibility so if a correction is required I would be pleased to be advised of it and acknowledge it accordingly.
I haven't a clue how the figures relate to each other but on page 2 of the statement it says there is no profit and no loss.


KHFC ED LTD BALANCE SHEET
(CONTINUED)
AS AT 31 MAY 2019
- 2 -
The company has not traded during the Period or the preceding financial period. During this time the company received no income and incurred no expenditure and therefore no profit and loss account is presented in these financial statements .
Noted Pirate - it is a reflection of a dormant company as I understand it ie no profit and no loss BUT also note the dormant company is carrying £150K of debt. The dormant company issue also calls into question the reports of a rising number of students generating large sums to sustain the education side and release profits into KHFC more widely. It appears that effectively instead £150K more was spent setting it up than was received. It all appears very confusing with the exception that there were no profits just a debt before it was effectively closed down to its dormant state.

Perhaps one of our accountant professionals on here might assist in voicing an opinion on what appears to be a sad state of affairs.
You have included the £150k capital put into the company on the last line of figures, haven't you? And also allowed for the 8 employees mentioned in the statement, £150k should cover their wages, a bit low but perhaps they didn't work hard enough.

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Re: Accounts Overdue

Post by PIRATE OF ZARAGOZA » Fri Jul 03, 2020 5:46 pm

pershoreharrier wrote:
Wed Jul 01, 2020 8:33 pm
PIRATE OF ZARAGOZA wrote:
Wed Jul 01, 2020 8:06 pm
pershoreharrier wrote:
Wed Jul 01, 2020 7:19 pm
PIRATE OF ZARAGOZA wrote:
Wed Jul 01, 2020 6:06 pm
pershoreharrier wrote:
Wed Jul 01, 2020 8:41 am
Whilst the accounts for KHFC ED LTD were filed some weeks ago albeit late showing debts of £150,000 for a 'dormant company' the accounts for KHFC remain outstanding and late together with the confirmation statement.

KHFC accounts were due on 29 Feb 2020 and the confirmation statement was due on 4 May 2020.

Whilst covid 19 can be used as a convenient excuse for the late submission of many things these days I cannot but get the feeling there is something more fundamental that is causing this late submission.

I also note that it is still recorded that we have 2 Directors and 1 Secretary but I thought I read somewhere that we had 2 new board members one of which was Male and whilst it may be claimed that they may be non-executive directors I am not aware that companies house affords any distinction in that regard.

I cannot help but get the feeling that the issues between Lane and Gordon are not fully resolved and that this may be the cause of the apparent inability of Lane to re-establish the links with KHIST for fear of the issues becoming more widely known. As the 'Boost the Budget' initiative struggles on the direct input of KHIST could make a major and significant difference if those bridges were re-established.

The Club I believe approached KHIST for money sometime ago so clearly the Club is in need of funds but the impasse to enable that to develop seems to remain which is a cause for concern.
Have you read those accounts correctly Pershore?
I believe so Pirate but I do not claim infallibility so if a correction is required I would be pleased to be advised of it and acknowledge it accordingly.
I haven't a clue how the figures relate to each other but on page 2 of the statement it says there is no profit and no loss.


KHFC ED LTD BALANCE SHEET
(CONTINUED)
AS AT 31 MAY 2019
- 2 -
The company has not traded during the Period or the preceding financial period. During this time the company received no income and incurred no expenditure and therefore no profit and loss account is presented in these financial statements .
Noted Pirate - it is a reflection of a dormant company as I understand it ie no profit and no loss BUT also note the dormant company is carrying £150K of debt. The dormant company issue also calls into question the reports of a rising number of students generating large sums to sustain the education side and release profits into KHFC more widely. It appears that effectively instead £150K more was spent setting it up than was received. It all appears very confusing with the exception that there were no profits just a debt before it was effectively closed down to its dormant state.

Perhaps one of our accountant professionals on here might assist in voicing an opinion on what appears to be a sad state of affairs.
I've spoke to the Managing director ( he's also an accountant) of the company I work for about the figures on the statement, he says the £150k is either a loss or it's been moved into the accounts of another company .

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Re: Accounts Overdue

Post by GloucesterHarrier » Tue Jul 07, 2020 9:47 am

The accounts are now on Companies House for those that are interested!

The confirmation statement is still overdue.


https://j.mp/3e4LssX

{link added by admin}

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Re: Accounts Overdue

Post by harry211 » Tue Jul 07, 2020 9:54 pm

End of a long day, for which I'll blame any errors on. There are also better informed people on here to give some form of comment. Some takeaways.

On the face of it - the balance sheet looks a mixed bag. On the face of it we owe significantly less money to creditors within this year, but then more money to creditors after this year. Roughly £300k. Is this how the deal to buy the club has been financed? Roughly an earn-out? Or have funds been loaned to the club as part of the takeover? (Memories of Dave Reynolds in 2010?)

Far less liabilities too.

Looks like 500,000 shares were also issued this financial year. Interesting.

Less employees on the book, roughly 2/3rds. Again, who are they and where have they gone? Has this happened after the buy out, and transferred to KHFC Ed Ltd?

1.2 about the directors being assured that the company has enough resources to continue on for the forseeable future is encouraging, if not a bit shallow.

All in all, could be a lot worse - but will reserve my full judgement.
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Re: Accounts Overdue

Post by pershoreharrier » Wed Jul 08, 2020 2:54 pm

If the last accounts for KHFC ED Ltd and those recently posted for KHFC were the basis for an overview and analysis in an Accountancy Examination I do wonder what the model answer might comprise.

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Re: Accounts Overdue

Post by pb12345 » Sat Jul 11, 2020 2:39 pm

millzeuk wrote:
Wed Jul 01, 2020 6:18 pm
MDJB wrote:
Wed Jul 01, 2020 4:05 pm
Khist offered to launch a crowd funding type of venture on behalf of the club (and at the request of the club) a while ago but this was then strangely declined by the club. It seems to many that CG’s influence still prevails around Aggy. So much for RL’s public statement at the forum that he wanted to build bridges with them. As the only official supporters group representing Harriers fans, surely it’s time this was sorted.
Perhaps he’d be more inclined if KHIST’s passive aggressive statements and negativity towards the new owners was reigned in a little. I think it can also be said that their view of the new owners is coloured by the behaviour of the previous one.
I would agree with this post, I am personally still a little miffed about the money that has been "banked in case of emergency", supporter money that I would like to be put in to the boost the budget scheme, or if not, perhaps "members" should be allowed a vote in how this money could be used in future.

Bridges do need to be built for sure.

I know when I spoke to the chairman of KHIST at length over the telephone a while ago (When CG was still involved to be fair), he said that KHIST members wanted it this way, and when I challenged him about the aforementioned, in that I (as a KHIST member myself) was not happy about said decision, he completely ignored my comment, and just repeated what he had already said.

Not withstanding the above, I am really encouraged by the investment so far in the squad. Hopefully better times are ahead.

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Re: Accounts Overdue

Post by Sheffield Harrier » Tue Jul 14, 2020 10:38 am

Good post PB. KHIST's constitution states it is there to "to raise funds for purposes to be determined at the sole discretion of the KHIST board".

Perhaps asking KHIST members whether they wanted KHIST to contribute or not would be a start.

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Re: Accounts Overdue

Post by S2RKK » Thu Jul 16, 2020 6:24 pm

Just noticed this on Companies House, anybody know what it means

Its for G5 Sports Consulting, hope it has nothing to do with us now

https://beta.companieshouse.gov.uk/company/08107490/filing-history

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Re: Accounts Overdue

Post by pershoreharrier » Thu Jul 16, 2020 8:48 pm

S2RKK wrote:
Thu Jul 16, 2020 6:24 pm
Just noticed this on Companies House, anybody know what it means

Its for G5 Sports Consulting, hope it has nothing to do with us now

https://beta.companieshouse.gov.uk/company/08107490/filing-history
I would certainly hope it has absolutely nothing to do with KHFC and that applies to the Directors of G5 Sports Consulting as well.

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Re: Accounts Overdue

Post by S2RKK » Thu Jul 16, 2020 11:32 pm

Pershore I’m with you hopefully that is now nothing to do with KHFC

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