Readings New Black Hole in Accounts

[North Somerset Royal]

But it is not mere omission of a page. They have wrongly claimed exemption from the requirement to provide that information. Therefore it is either a bad mistake reflecting on the quality of the persons responsible or a decision has been taken not to provide that information.

[MmmMonsterMunch]

But it is not mere omission of a page. They have wrongly claimed exemption from the requirement to provide that information. Therefore it is either a bad mistake reflecting on the quality of the persons responsible or a decision has been taken not to provide that information.

Just one minor point on this. If Reading Football Club Limited is a subsidiary of the group then they don't have a requirement to produce the cash flow statement as long as the consolidated version is produced by the parent company.

That could be why....

[melonhead]

no. that is why.
close thread

[Westwood52]

As a matter of interest , who are the Auditors ?I know FSP are the legal representatives.
How are player purchases treated-I assume they go to the balance sheet and you don't get tax relief on their depreciation ?How are they depreciated-over the length of their contract ? I seem to remember researching this a few years ago but can't remember the answer.
That said given the size of the deficit , paying corporation tax will never be a factor(like with every other football professional club).

[Royal Rother]

Myers Clark in Watford.

And yes, tax aside which I wouldn't know about, you are essentially correct re the treatment of the signing on fees.