Professionalism

Quoted from pen penfras

Fair enough. In Herve's defence, if it was Fenty in charge and any of these things happened, he'd be getting hammered for them.

I agree that Fenty would be getting hammered for those things but 18 years in, there isn't really much excuse for overdue accounts. We don't know what questions 1878 had and the answers they received may have raised more questions. I don't know if we've moved away from Weaver Wroot but a new accountant may have had questions of their own.

If the accounts and confirmation statements are consistently late then I think questions can be asked but this is their first set of accounts since the takeover, there is a lot of change to the shareholdings and we are now a Ltd company rather than a PLC.

There is also the very valid point somebody has raised about the delay being a bit tactical with regards to transfer activity.

The accounts will get released in the next month or 2 and I'm interested to see how/if we go above and beyond the minimum accounting requirements.

They are not dodgy guys, I get that, but.

It is serious the accounts aren’t available for scrutiny.

It is also concerning that the date and deadline for the AGM has passed by without having one.

The club was a PLC and was subject to transparency and scrutiny at all levels. I fully expect these guys to let us know how our club is being run in no lesser way that of the past regime and so far they are not on track.

I don’t get why there is so much protectionism of the new regime. Facts are the facts. No accounts to scrutinise and no AGM held which before accounts were always published.

Further I’m annoyed Rob REMOVED my Innocuous post yesterday commenting on PN’s post. Which confirmed I had heard from several sources staff were feeling pressured and some bullxxd and a letter had gone in.

Is this a forum for debating and speculating or a dictatorship?

Best put my tin hat on.

Quoted from GibMariner

They are not dodgy guys, I get that, but.

It is serious the accounts aren’t available for scrutiny.

It is also concerning that the date and deadline for the AGM has passed by without having one.

The club was a PLC and was subject to transparency and scrutiny at all levels. I fully expect these guys to let us know how our club is being run in no lesser way that of the past regime and so far they are not on track.

I don’t get why there is so much protectionism of the new regime. Facts are the facts. No accounts to scrutinise and no AGM held which before accounts were always published.

Further I’m annoyed Rob REMOVED my Innocuous post yesterday commenting on PN’s post. Which confirmed I had heard from several sources staff were feeling pressured and some bullxxd and a letter had gone in.

Is this a forum for debating and speculating or a dictatorship?

Best put my tin hat on.

go have a pint old chap

Transfer market opens tomorrow, so then we can have a good old moan about who/what/when we sign/don't sign some players.

There is also the more than possible home defeat to an in form Halifax to look forward to.

Should keep the conspiracy theorists happy.

Quoted from pen penfras

Fair enough. In Herve's defence, if it was Fenty in charge and any of these things happened, he'd be getting hammered for them.

Yeah but Stockwood and Petit didn't get us relegated out of the league twice, so they get some leeway.

Quoted from Swansea_Mariner

Yeah but Stockwood and Petit didn't get us relegated out of the league twice, so they get some leeway.

Let's be honest it was 3 times really. Points deduction rescued us once . Fenty and his crew never got scrutinized untill people / supporters realized the club was going know where fast . Throw that convicted criminal in the Findus into the mix and people start to get a bit fed up. We shall see what the new owners legacy will be in time won't we .

Quoted from chaos33

Jesus wept,….any opportunity to hit the club with a stick! What do you care, really? Did you not get the jigsaw you wanted for Christmas?

I think he actually got a Wasgij but couldn't figure it out.

Quoted from GibMariner

They are not dodgy guys, I get that, but.

It is serious the accounts aren’t available for scrutiny.

It is also concerning that the date and deadline for the AGM has passed by without having one. This is normal for a small company.

The club was a PLC and was subject to transparency and scrutiny at all levels. I fully expect these guys to let us know how our club is being run in no lesser way that of the past regime and so far they are not on track.

I don’t get why there is so much protectionism of the new regime. Facts are the facts. No accounts to scrutinise and no AGM held which before accounts were always published.

Further I’m annoyed Rob REMOVED my Innocuous post yesterday commenting on PN’s post. Which confirmed I had heard from several sources staff were feeling pressured and some bullxxd and a letter had gone in.

Is this a forum for debating and speculating or a dictatorship?

Best put my tin hat on.

You - and several others - say that the accounts are not available to scrutinise but they are not due for filing for another 59 days!

Why would they hold an AGM to discuss accounts that have not been finalised yet…which leads to my next point…

AGM - a limited company no longer requires an AGM so there might not even be one. So the date and deadline for an AGM has not passed because there probably won’t be one. This is normal for a small company.

PLC - operating as a plc provides little extra transparency and scrutiny. Look at Carillion, BHS, Patisserie Valerie. Remember irregular accounting practices at the likes of Tesco. All of these were plc’s.

Most football clubs in the UK are private limited companies rather than plc’s, including many in the Championship and L1 - some of which I am involved with. It’s perfectly normal not to want to operate as a plc.

Operating as a plc does not stop you from, legally (and allegedly) using company funds to repay third-party pension schemes and EBTs. It also doesn’t protect the fans from the main investor allegedly carving out a ‘strange deal’ with a convicted fraudster or the ‘Holloway situation’. Transparency didn’t help us on those occasions.

Shareholders will still be provided with access to a full set of final accounts. Admittedly these will have reduced disclosures compared to the previous years’ accounts but we shall see what they contain. It will be disappointing, but legal, for the accounts to exclude a Strategic Report explaining the company’s performance, position and main KPIs etc.

However, you have to remember that The Grimsby Town Football Club Ltd are a small company. Turnover and the balance sheet total are way, way under the medium company thresholds (£10.2m / £5.1m).

I presume these May 2021 accounts will still be audited but again, a clean audit report doesn’t necessarily mean that all is well in a company (Enron, Parmalat etc).

By the way, I’m not saying that Stockwood and Pettit aren’t ‘dodgy’ but I have not seen, heard or being provided with any evidence to the contrary so they have my full support.

I’m not protecting them but when you say ‘facts are facts’, your facts are incorrect unfortunately.

Quoted from Knut Anders Fosters Voles

You - and several others - say that the accounts are not available to scrutinise but they are not due for filing for another 59 days!

Why would they hold an AGM to discuss accounts that have not been finalised yet…which leads to my next point…

AGM - a limited company no longer requires an AGM so there might not even be one. So the date and deadline for an AGM has not passed because there probably won’t be one.

PLC - operating as a plc provides little extra transparency and scrutiny. Look at Carillion, BHS, Patisserie Valerie. Remember irregular accounting practices at the likes of Tesco. All of these were plc’s.

Most football clubs in the UK are private limited companies rather than plc’s, including many in the Championship and L1 - some of which I am involved with. It’s perfectly normal not to want to operate as a plc.

Operating as a plc does not stop you from, legally (and allegedly) using company funds to repay third-party pension schemes and EBTs. It also doesn’t protect the fans from the main investor allegedly carving out a ‘strange deal’ with a convicted fraudster or the ‘Holloway situation’. Transparency didn’t help us on those occasions.

Shareholders will still be provided with access to a full set of final accounts. Admittedly these will have reduced disclosures compared to the previous years’ accounts but we shall see what they contain. It will be disappointing, but legal, for the accounts to exclude a Strategic Report explaining the company’s performance, position and main KPIs etc.

However, you have to remember that The Grimsby Town Football Club Ltd are a small company. Turnover and the balance sheet total are way, way under the medium company thresholds (£10.2m / £5.1m).

I presume these May 2021 accounts will still be audited but again, a clean audit report doesn’t necessarily mean that all is well in a company (Enron, Parmalat etc).

By the way, I’m not saying that Stockwood and Pettit aren’t ‘dodgy’ but I have not seen, heard or being provided with any evidence to the contrary so they have my full support.

I’m not protecting them but when you say ‘facts are facts’, your facts are incorrect unfortunately.

Think you are protecting them and will find that I’m not wrong. The Takeover Panel will require for the financial year following going Private, that the accounts are prepared and presented to shareholders as if still a PLC for the AGM as scheduled. That meeting has been missed without notice.

The club could well be in for a fine if this hits their radar.

Quoted from GibMariner

Think you are protecting them and will find that I’m not wrong. The Takeover Panel will require for the financial year following going Private, that the accounts are prepared and presented to shareholders as if still a PLC for the AGM as scheduled. That meeting has been missed without notice.

The club could well be in for a fine if this hits their radar.

Has an AGM been scheduled? As far as I can recall, none has been announced and there’s still two months before the deadline to do so.