With my limited reading of it it seems SWFC breeched the fair play rules in the three years ended 2017/18. They realised too late that if someone bought the stadium at what was a huge capital gain that gain could be used to offset the trading losses they had incurred. (The club uses the tax losses in the year of sale to offset against the gain to reduce the tax payable). It seems wrong to me that clubs can use capital gains to offset breeches of the fair play rules but there we are.
The problem seems to be that SWFC contracted for the sale of Hillsborough in 2018/19, a year too late. But it seems they brought the gain into the year before which seems to be a serious case of false accounting.
It is a serious matter to breech any sort of financial rules and penalties will follow. But when there is concealement as well, like this, the penalties are far worse.
Then you have the even more serious matter of false accounting by the directors which can result in jail terms and they will have to face enquiries from the tax office as to why they offset 2017/18 tax losses which were not available to use against what in reality was a 2018/19 gain.
I'm only making assumptions at the moment but if I am right our good friends in S6 have very serious problems which will rumble on for a very long time.