Jon
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Post by Jon on Apr 19, 2017 23:33:44 GMT
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simonb
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Post by simonb on Apr 20, 2017 5:28:10 GMT
Blimey - CO has got more jobs than George Osborne!
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rjdgull
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Post by rjdgull on Apr 20, 2017 6:12:47 GMT
Blimey - CO has got more jobs than George Osborne! He holds 17 directorships! My favourites are BS Properties Ltd and BS Estates Ltd! |
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Rob
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Post by Rob on Apr 20, 2017 18:06:39 GMT
Blimey - CO has got more jobs than George Osborne! He holds 17 directorships! My favourites are BS Properties Ltd and BS Estates Ltd! I can see why that would amuse. Abbreviations, of course, for "Bristol Stadium". It got demolished. An IKEA stands there now and nothing was built to replace the old stadium. BS indeed. Could RS - last appropriate for GI in Reading - also be BS in Torbay? |
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Jon
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Post by Jon on Apr 26, 2017 23:47:10 GMT
Signed by Clarke Osborne on 31 March(  ), by Darnells on 20 April and loaded on the Companies House website on 25 April. A profit for the year of £2,727,508. Allowing for the write-back of the Plainmoor Limited loan of £3,064,964, an operating loss of £337,456. Compares favourably to the previous year's loss of £646,453 until you dig a little deeper. If you adjust for redundancy costs incurred in June 2015 (c.£100k?) and the Angus windfall you get a similar loss - in the region of £10k a week - under the Phillips regime as you had under the Bristow regime. Thea paid off her debts, whereas Phillips put the club in hock to a property developer. I would like to see the workings behind the "breakeven at 1,800" comment. |
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rjdgull
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Post by rjdgull on Apr 27, 2017 6:42:18 GMT
Wasn't the Angus sale the beginning of our season 16-17 and therefore not included in these figures? The 1800 figure was a fatal error that left the club without reserves and easy prey to a takeover. The season ticket money was front loaded into this accounting year......
I see Phillips finally stepped down as director on 23 February this year leaving CO as the sole director.
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Jon
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Post by Jon on Apr 27, 2017 22:53:37 GMT
Wasn't the Angus sale the beginning of our season 16-17 and therefore not included in these figures? Yes, Rob - you are right and I was wrong. Angus was sold after 30 June. The transfer income in the y/e 30/6/16 was for Lavercombe and Bowman - so probably nearer to £50k than £100k. I don't think that error changes the crux of the argument though. Phillips, Balson and co watched the patient bleed to death and not only refused to call an ambulance - they blocked off anyone else who tried to call an ambulance. |
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rjdgull
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Post by rjdgull on Apr 28, 2017 6:40:31 GMT
No, it does not change the crux of your argument. I think we had a bunch of fans that were both ill equipped and had lack of funds to deal with the demands of running a loss making club which was a fatal combination. They tried their best but not good enough.
I also got the impression from the forum that they thought they had done the best job in poor circumstances in running the club and with the money they put in had a sense of entitlement that they knew what was best for the club. Unfortunately they compensated for their lack of knowledge by taking advice from another club owner and shut themselves off from other advice leaving them with a narrow perspective of events.
So they entered into a deal with GI without due diligence where they thought they could secure the long term future of the club and remain as directors. Unfortunately, if it sounds too good to be true.... When the penny finally dropped it was not the best route forwards they then put their own positions above the interests of the club and gambled on finding at short notice another too good to be true exit strategy. A buyer to pay off GI debts, all the money they invested plus taking on a loss making club. Come on? Really?
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), by Darnells on 20 April and loaded on the Companies House website on 25 April.