club accounts

[thisisgibbo]

Arrived yesterday and as unintelligible as ever (unless you are an accountant or auditor I guess)

Turnover up from Ai2.82m to Ai7.32m, I imagine that is due to transfer income from Powell/Westwood as the accounts are 06/12 to 06/13. Transfer income shown as Ai3.89m

Net profit for the year Ai2.15m

We paid tax on profits of Ai690k (google/amazon/starbucks take note!)

Maybe we should get the money spent rather than give it to the government.

[alexbarmy]

So maybe £2.75m up front for Powell and £1.14m for Westwood?

[RenegadeDS]

We paid tax on profits of Ai690k (google/amazon/starbucks take note!)

They pay the tax they are required to, blame the government for their tax laws rather than business taking advantage of them.

The companies reinvest all but a minimal amount back into the company before the tax year ends - meaning the actual 'profit' they make is very very little and why they pay so little tax on it. See the link below. - view external link

[thisisgibbo]

Thanks or the comment but I don't think this forum is the place for a discussion about the rights or wrongs of Amazon etc.

I have my opinions formulated from the facts that I have researched, not taking the opinion of one single column writer in Forbes, he has to make his column "saleable" or he doesn't get paid. I wonder if his fee goes via Luxembourg!!

[alexbarmy]

We paid tax on profits of Ai690k (google/amazon/starbucks take note!)

They pay the tax they are required to, blame the government for their tax laws rather than business taking advantage of them.

The companies reinvest all but a minimal amount back into the company before the tax year ends - meaning the actual 'profit' they make is very very little and why they pay so little tax on it. See the link below.[/quote]

Most corporate's structures which evade (yes evade not avoid) are artificial structures design to avoid paying tax. They see tax as a cost and look at ways to reduce it (even if it means inflating their own directors salaries to justify the Luxembourg or wherever's office). There cold be thousands of law rewrites and they will still find a way round it. The only way to avoid this would be for cross country co-operation which will never happen.

Anyway, back to The Alex

[number1stuartevans]

for gods sake alexbarmy does someone have to explain it again?
1.norm forms meaningless company with dan potts collusion meaning he got over 50% of the votes on the board.
2. he so so generously offers his shares in the meaningless company to the club against the 1.2 mill plus interest he owes the club
3. he got over 50% of the votes with mr potts help so guess what the deal gets voted through.
4. so hes "paid" the loan end of loan.
nothing illegal at all but ask yourself if this man has the clubs best interests at heart?

[alexbarmy]

But he still owns the shares in the meaningless company!

[number1stuartevans]

not in that particular meaningless company thats another meaningless company

[alexbarmy]

Would love to know which one as I have checked all the cafc related companies and he is still a shareholder in all. Wish we had someone in the local press who would properly investigate, like Tideswell of The Sentinel did with the Vale.

[itwasin]

Now we know who thought up the quiz game on TV "The Million Pound Drop" Norm!