PMG wrote:the trust are now accepting that a hybrid system would work better
Isn’t that what the old board had suggested until TP went off and offered Les £300k for his shares
You couldn’t make it up
What a waste of everyone’s money time and effort to come back to what was suggested in the first place

Don't get too far ahead of yourself it's not a done deal yet and when there is anything to vote on, I for one will not be voting for giving away control of my club.

PMG wrote:the trust are now accepting that a hybrid system would work better
Isn’t that what the old board had suggested until TP went off and offered Les £300k for his shares
You couldn’t make it up
What a waste of everyone’s money time and effort to come back to what was suggested in the first place

You keep coming out with these statements but never substantiate them. The Trust hasn't accepted that a hybrid system would work better - they've announced that the membership voted in preference of a hybrid model and even that still needs to be clarified.

I don't recall anything made public about the last Board wanting a hybrid model for joint ownership, but even so there still would have been a need to fund-raise and then somehow come up with a workable model of ownership, no model works on a 50/50 basis, one of the parties has to have overall control and I'd guess that on that occasion, it wouldn't have been the Trust.


What's your beef with TP - did he have a better moustache than you?

I'm confused.

People are talking of County losing roughly £500,000 last season but because of the cup run instead it made a £300,000 profit. On which accounts are these based on? As far as I'm aware the club only submitted it's accounts up to June 2017 in March of this year and the accounts for the period people are talking about won't be presented until March 2019 (though a statement should be issued in December this year).

Is the loss turning into profit caused by accumulated debt carried over from the previous financial year wiped out by the monies from the cup run? And is the reason for the alleged reduction in playing budget because this was calculated for this season prior to the cup run?

Just a thought...

PMG wrote:the trust are now accepting that a hybrid system would work better
Isn’t that what the old board had suggested until TP went off and offered Les £300k for his shares
You couldn’t make it up
What a waste of everyone’s money time and effort to come back to what was suggested in the first place

Les's shares were gifted to the Trust.

The proceeds of the share issue was used as working capital.

This has been repeated time after time, but still hasn't got through to some.

wattsville_boy wrote:I'm confused.

People are talking of County losing roughly £500,000 last season but because of the cup run instead it made a £300,000 profit. On which accounts are these based on? As far as I'm aware the club only submitted it's accounts up to June 2017 in March of this year and the accounts for the period people are talking about won't be presented until March 2019 (though a statement should be issued in December this year).

Is the loss turning into profit caused by accumulated debt carried over from the previous financial year wiped out by the monies from the cup run? And is the reason for the alleged reduction in playing budget because this was calculated for this season prior to the cup run?

Just a thought...

If I was to hazard a guess I would say that you are correct as it makes sense, and all the amateur accountants on here are completely wrong, as usual.

Lysaght Dancer wrote:

wattsville_boy wrote:I'm confused.

People are talking of County losing roughly £500,000 last season but because of the cup run instead it made a £300,000 profit. On which accounts are these based on? As far as I'm aware the club only submitted it's accounts up to June 2017 in March of this year and the accounts for the period people are talking about won't be presented until March 2019 (though a statement should be issued in December this year).

Is the loss turning into profit caused by accumulated debt carried over from the previous financial year wiped out by the monies from the cup run? And is the reason for the alleged reduction in playing budget because this was calculated for this season prior to the cup run?

Just a thought...

If I was to hazard a guess I would say that you are correct as it makes sense, and all the amateur accountants on here are completely wrong, as usual.

I may be wrong, but surely when you are analysing an accounting period, you start from £0? If you have negative cash at the bank then that could be wiped out by excess, unexpected, non-distributed profits, but you don't start an accounting period with "negative profits".

If we were on track to lose £500k+ during the accounting period, then that loss is solely attributable to that accounting period - surely? Whether or not some of that extra profit has been used to clear overdrawn bank balances is a different question altogether.

I may be wrong on this as said, but either way you're probably right - a bit more meat on the bones would be helpful.