Witton

[Westyeltz]

On a slightly jocular note, Westy, first it's blue box syndrome now we have double posting!

Double bubble, Lutters! I know y'all want it

[yeltz85]

A couple of years ago (2015 accounts) the football club showed around £26k of assets on its books and around £85k of debt which I understood was loans from Mike Burke and Steve Lynch (presumably for footballing matters)

In the recently published accounts the assets were around £999k (but only £2k cash in hand) and total debt of £38k (of which £32k was to Dave Smith, for the James Grove bar presumably). In the expenditure details there were no items for repayment of the loans mentioned above.

To my untutored mind, the club has gained close on £1m in assets, but where are they? I know the p*t*h looks nice and the fencing is very shiny but they are not worth anything like £1m. This makes me think there is something with a paper valuation that the club is counting as an asset that is worth far more than the football club.

It is obvious that they don't give a damn about the playing side, so what is going on?

Technically right and wrong. If you look at the accounts then the debtor of 999,136. You would normally class Unpaid Share Capital as an Other Debtor. So the club has not gained anything really as you would assume from the accounts this being the share capital not paid for.

On the face of the accounts the club has assets of equipment and a bit of cash, offset by the loan to Dave Smith. No mention of other liabilities owed from previous years accounts of £85k so you would assume that they were repaid. There is no brought forward profit and loss from prior year accounts if applicable. From paper the club has no value, only the value that someone would be prepared to pay should it be sold.

[gingeryeltz]

I assume that the VAT liability is shown within the Balance Sheet creditor and accruals figure of £6,440.
I am also guessing that Bill Williams who has been mentioned in previous posts is the Accountant?

[gingeryeltz]

Also P & L account

[Spooky]

Gingeryeltz, are the Manager and his side kicks salary taken as part of the 'Players Expenses', do you know?

Is this a reason they flatly refuse to walk away regardless of the on the pitch performances, the money they take is more important to them than the clubs position?

[gingeryeltz]

Are the current Accountants Williams and Co anything to do with this Express and Start Article below?
The Bill Williams mentioned in the link below has now been released from Prison and has practiced as an Accountant in the past trading as Williams and Co - I guess this is just a coincidence? He was also previously the Chairman of Tipton Town (so no connection there then )

https://www.expressandstar.com/news/201 ... -of-misery/

This guy has serious issues buying season tickets at the Viller.

[KenR]

You are on the right lines Gingeryeltz

[Noggin]

I was aware of his past misdemeanours, but hadn't seen the statement

Then a former manager of Banks's League football team Harrisons FC of Great Wyrley,

before. Are there other people associated with HTFC that have links with Great Wyrley?

[gingeryeltz]

I am pretty sure there are Noggin

[gingeryeltz]

You are on the right lines Gingeryeltz

I thought after M**s*n and the Ingrams that we could not possibly endure any more crap.
As the saying goes, things come in threes ............. (allegedly)

Reminds me of some Nigel Pitt's forum postings when he would put at the top 'without prejustice' ! - anyone know what he is up to these days? Cyprus?