club accounts

[thisisgibbo]

Arrived today, £378686 loss in accounts of CAFC co Ltd

To be no AGM this year directors have decided!!

Special shareholders meeting to be held shortly when directors will present recommendations for the future structure of the group. Accounts questions taken at that meeting.

Sounds like usual behind the scenes dodgy dealings to me (being somewhat cynical by nature)

[ChalkDust]

Thanks for that gibbo, surprised by the that much especially when we sold Murph.

Does it show transfer income and transfer outgoings?

[Worcesterman]

Year end 30th June 2014

Transfer fees received £1,286,500
Transfer & signing on fees £272,337
Gate receipts £578,418

No AGM - is that legal?

ps - just spotted that between the Company year end (as above) and the date of approval of the accounts by the board, 12th Feb 2015, a further £315,000 net has been generated by transfer fees.

[alexbarmy]

Well the AGM used to be a farce in any case as the accounts had already been signed off.

If there is nothing in the Memorandum & Articles about an AGM then an AGM is not required as the Companies Act 2006 got rid of the rules dictating that all companies require AGM's.

For any shareholders going to this meeting, it may be worth asking just when the transaction to buy out NH is actually going to happen.

[RenegadeDS]

No AGM - is that legal?

Contrary to most conspiracy theorists, Crewe are not in the habit of breaking the law. We may not have the best footballing brains on our board, but we certainly have a team of top class businessmen who play by the rules even if we don't agree with them.

[ChalkDust]

Year end 30th June 2014

Transfer fees received £1,286,500
Transfer & signing on fees £272,337
Gate receipts £578,418

No AGM - is that legal?

ps - just spotted that between the Company year end (as above) and the date of approval of the accounts by the board, 12th Feb 2015, a further £315,000 net has been generated by transfer fees.

Thanks for that.

[itwasin]

Top class businessmen playing by the Rules!!Who says? Does that include giving them selves interet fee loans to each other and keeping it secret? or trying to.

[all]

I am not a qualified accountant but do have a little knowledge of simple accounts and I feel that the recently published accounts are as bad as any Alex accounts I have seen for some years and I fear somewhat for the future.
There must be many worse sets of accounts in 1st and 2nd div but even some div 2 teams seem to work on a higher wage scale than the Alex...how do they do it.

[AlexLeicester]

I'm no figures guy either, but these do look a little uncomfortable.
In the club's favour we have assets (homegrown thanks to the Academy) that far outweigh the debt. I presume that those Div 1 and 2 clubs with worse accounts (the vast majority?) survive through bigger gate receipts and off-field activities.
We really do need to up the ante with off-field stuff. We're not exactly profligate, certainly in comparison to other clubs.

I'll not raise the NH question ... oops, I have.

[RenegadeDS]

Top class businessmen playing by the Rules!!Who says? Does that include giving them selves interet fee loans to each other and keeping it secret? or trying to.

Yes. Everything they've done is legal, we just don't like it.