OFFICIAL - Sports Shield annual account overdue and face compulsory strike off!

I've paid my £13 and submitted my annual returns late before, usually after a second "reminder" which tends to include a threat of court action so there is plenty of leeway given - and anyone experienced in submitting returns would know that so maybe they're just taking advantage of HMRCs generosity? Don't think this is necessarily as serious as other issues in the grand scheme of things.

wanderlust wrote:I've paid my £13 and submitted my annual returns late before, usually after a second "reminder" which tends to include a threat of court action so there is plenty of leeway given - and anyone experienced in submitting returns would know that so maybe they're just taking advantage of HMRCs generosity? Don't think this is necessarily as serious as other issues in the grand scheme of things.

We know.

Sluffy wrote:It's not quite as bad as it sounds though as there is plenty time for SS to get their house in order...

Taken from the very first post on the thread.

Sluffy, the accounts are due in September and the annual return is overdue which is registration fee and the signed corporate bullshit. My accountant sorts out my return but I sort out my own accounts which the accountant audits. Check the link again, it's return not accounts.

Soul Kitchen wrote:Sluffy, the accounts are due in September and the annual return is overdue which is registration fee and the signed corporate bullshit. My accountant sorts out my return but I sort out my own accounts which the accountant audits. Check the link again, it's return not accounts.

But you can't do the return without first having had your accounts drawn up and audited.

I still can't see the point you are making?

If the accounts have been finalised and audited then there should be no problem submitting the return - it is more or less just a formality at that stage.

However IF you have NOT had your accounts signed off you simply CAN'T submit your return - as you will have no idea of your true trading position at the date the accounts are drawn up to.

In this case you do have a big problem - and that is why Companies House will start proceedings to strike off businesses that fail to ultimately fail to comply with that requirement - and that is why businesses are required to complete their return or face the consequences.

The whole aim is to establish that businesses are not trading whilst insolvent.

SS haven't got a pot to piss in - We've known that for a while.

It's been well documented on the internet by various sources that they exhausted all their available funds when they paid Saint Eddie his 30 pieces of silver and stumped up what was left down the back of the settee to pay the tax man.

None of us have been able to work out why they were so desperate to buy the club and we've all been scratching our heads to try and work out what the plan is.

In terms of what's in it for them, we're all stumped.

Because it makes no financial sense whatsoever.

In terms of what's in it for the club (and more importantly to us as fans), it's looking increasingly like the simple answer is "more of what we've had to get used to since ED turned the Moonshift tap off", ie no money and surviving hand to mouth.

I predicted a few weeks ago that we'd wind up back in court before the new season kicks off in August and I stand by that.

Eddie Davies sold to these clowns because they ticked some very superficial boxes which benefited his interests :

Prepared to pay the tax bill - Check.

Got enough disposable cash to see the season out - Check.

Make me President because I'm dead cool and a top bloke - Check.

Everything about this takeover smells funny to me.

Davies, despite his press releases and vacuous statements before the Sky cameras to the contrary, does not give a fuck about Bolton Wanderers and what happens next.

I think Sports Shield gambled on there still being enough potential value in having ownership of club if it managed to survive in the Championship to make it a worth while investment (remember, they were desperate to buy the club in November when there was still time to sort things but the unthinkable happened and it all turned to shit and we're going down.)

None of it makes any sense and despite how happy Holdsworth may continue to look in public, I think that he knows that he's fucked up here and he's stuck with an albatross.

If Holdsworth is really the man behind SS, that is.

And I've got my doubts about that too.....

Bottom line is, we're fucked.

I share a great deal of the same doubts too but I can't believe Holdsworth would not have pulled out of the deal if his plan was only solvent if we remained in the Championship. I can't believe the Football League would have sanctioned the deal too - having seen the 'Plan B' contingency - in the event of relegation to Division 1 for the 2016/7 season.

Indeed more or less the first thing Holdsworth did when finally buying the club was to not pay the £100,000 to Liverpool to let Spearing play, as well as sending Feeney to Ipswich.

Clearly Holdsworth bought the club KNOWING it was as good as already relegated and has acted accordingly since.

I've not a clue why Holdsworth has bought the club but it is clear to me that whatever it is, the plan did not depend solely on staying in the Championship for next season.

Fair enough - but what's the plan then?

I've no idea because none of it makes sense and hasn't done since day one.

And I think you're in the same boat as me.

We've both been around a bit and know how the business world works but this shit simply doesn't.

On any level.

Sluffy, have you ever tried to do accounts a couple of weeks after the year end? Particularly as your customers have 56 days to cough up!!
Try googling company returns then go back to my last post and see what I put!!

Sorry mate I had not thought that businesses in this day and age still give two months credit, you must have a good cash flow to operate that way, most people I know give much less or even factor them.

Nevertheless it is Companies House that sets the deadlines and not me and they know far more about how businesses operate overall than I certainly do and I would suggest most businesses meet the given deadlines than don't otherwise why set such an 'impossible' deadline in the first place?

I totally don't get why so much type is wasted on this issue. SS is a private company. You're not a shareholder. It's completely non of your business when and how they file their accounts or returns. I don't get why you're still concerning yourself with this at all.

Because it sort of backs up the idea that they're potless and slightly dodgy.

Sluffy wrote:Sorry mate I had not thought that businesses in this day and age still give two months credit, you must have a good cash flow to operate that way, most people I know give much less or even factor them.

Nevertheless it is Companies House that sets the deadlines and not me and they know far more about how businesses operate overall than I certainly do and I would suggest most businesses meet the given deadlines than don't otherwise why set such an 'impossible' deadline in the first place?

Sluffy
Company returns are about directors, not accounts!! It' s the Company returns that are late not the accounts as your op states! If you look on the thread all is revealed!!
As I said earlier my year ends December 31st. Company annual returns due February with companies house along with registration fee of £15  I think? The company details ie directors and address are logged at Companies House.  
In September my accounts have to completed and sent to Companies house along with HMRC. In October corporation tax is due. This is as laid down by Companies House and HMRC.
Therefore in this matter sports shield will not be much different to myself time wise.
As I have said it is company returns that are late and not the accounts as your op states.
I have followed this formula for the last 30 years and have had no problem from either the revenue or CH.
I would suggest the composition of sports shield in February was fluid and probably still is director wise.
Hope you've grasped the situation fully now?
Yes they'll get a bollocking for not returning the info but they won't get wound up over it.
It's interesting that people who don't seem to go to the Macron are the biggest soothsayers on here ffs.

Breadman wrote:Because it sort of backs up the idea that they're potless and slightly dodgy.

And what the fuck does it matter to you?
The macron is for attending stamp fairs and weddings as far as you are concerned.

Soul Kitchen wrote:

Breadman wrote:Because it sort of backs up the idea that they're potless and slightly dodgy.

And what the fuck does it matter to you?
The macron is for attending stamp fairs and weddings as far as you are concerned.

Wind it in you stupid old racist cunt.

Soul Kitchen wrote:

Sluffy wrote:Sorry mate I had not thought that businesses in this day and age still give two months credit, you must have a good cash flow to operate that way, most people I know give much less or even factor them.

Nevertheless it is Companies House that sets the deadlines and not me and they know far more about how businesses operate overall than I certainly do and I would suggest most businesses meet the given deadlines than don't otherwise why set such an 'impossible' deadline in the first place?

Sluffy
Company returns are about directors, not accounts!! It' s the Company returns that are late not the accounts as your op states! If you look on the thread all is revealed!!
As I said earlier my year ends December 31st. Company annual returns due February with companies house along with registration fee of £15  I think? The company details ie directors and address are logged at Companies House.  
In September my accounts have to completed and sent to Companies house along with HMRC. In October corporation tax is due. This is as laid down by Companies House and HMRC.
Therefore in this matter sports shield will not be much different to myself time wise.
As I have said it is company returns that are late and not the accounts as your op states.
I have followed this formula for the last 30 years and have had no problem from either the revenue or CH.
I would suggest the composition of sports shield in February was fluid and probably still is director wise.
Hope you've grasped the situation fully now?
Yes they'll get a bollocking for not returning the info but they won't get wound up over it.
It's interesting that people who don't seem to go to the Macron are the biggest soothsayers on here ffs.

Which part can you not grasp then?

Sluffy wrote:It's not quite as bad as it sounds though as there is plenty time for SS to get their house in order but it hardly inspires confidence in the future!

Sluffy wrote:Rather more perturbing is that the accounts for the club itself - Bolton Wanderers Football and Athletic Company, as well as Burnden Leisure, Bolton Whites Hotel, Bolton Sports Village and Bolton Sporting Ventures - all of which needed to provide their accounts up to 30th June 2015 to be submitted by the 31st March, 2016, are all now outstanding and if Holdsworth doesn't get his act together in the next few months 'striking off' action will be started against all of them!

As you will know corporation tax is required to be paid within 9 months of the account date which as now expired.

Sluffy wrote:If the accounts have been finalised and audited then there should be no problem submitting the return - it is more or less just a formality at that stage.

Breadman wrote:

Soul Kitchen wrote:

Breadman wrote:Because it sort of backs up the idea that they're potless and slightly dodgy.

And what the fuck does it matter to you?
The macron is for attending stamp fairs and weddings as far as you are concerned.

Wind it in you stupid old racist cunt.

You really need to get your head from up your own arse hole.
You troll on about Bolton Wanderers on various forums and don't even support them(I'm disregarding your penny a month from sky). Then you display your intelligence with a personal insult because the truth wranckled you! Top class.

Sluffy
READ THE THREAD FROM COMPANIES HOUSE.
IT'S THE COMPANY RETURNS THAT ARE LATE NOT THE ACCOUNTS!!
Where does it actually say accounts are late when they are due in October 2016?
Ffs.
Accounts and returns are two separate things. And when youve read it and found out what the difference is I suggest you change your op title from accounts to returns!!!!!
I know how a dentist feels now!!!!

JAH wrote:I totally don't get why so much type is wasted on this issue. SS is a private company. You're not a shareholder. It's completely non of your business when and how they file their accounts or returns. I don't get why you're still concerning yourself with this at all.

Boggersbelief wrote:

JAH wrote:I totally don't get why so much type is wasted on this issue. SS is a private company. You're not a shareholder. It's completely non of your business when and how they file their accounts or returns. I don't get why you're still concerning yourself with this at all.

+1

When the shit hits it there's about half a dozen on here who'll be gutted and the trolls will say I told you so!!!