How much do you trust Anton/TSI?

[Esteban]

That blog goes some way to dispelling the concept that we haven't taken any financial risks. It's one thing trying to find transfer fees to pay for quality players, quite another to pay their wages.

[maffff]

Yep nothing story.

That or we're gonna get liquidated.

[sandman]

It may well be a nothing story but I'd rather take the word of someone who knows about these things than the word of a 21 year old Student who has his head firmly lodged up Anton Zingarevich's backside.

[maffff]

Indeed.

Out of interest, in response to the opening question. Has anyones views on Anton shifted?

[ZacNaloen]

no I still don't mind him, he's not spending madly, he being as prudent as you can be when trying to be ambitious and spending on infrastructure like the academy and training ground.

Seems like he's got a reasonable business model, whether he pulls it off remains to be seen.

Schoolboy errors like this tax exemption thing are a little annoying but hardly the owners fault.

[ZacNaloen]

Plenty of accountants on here so i'm sure they'll be along shortly.

To me seems like the kind of school boy error you would expect when you get mates to do things for you

[Royal Lady]

My view of him has not changed - I was very cautious in the beginning and I still am now. If anything, TSI's choice of accountant leaves a lot to be desired. When they were in premier league, they were informed, like every other club, that they needed to send in their cash flow movements by 1 March. RFC may have been aware that they were exempt but surely they would also have been told that, in that scenario, TSI were responsible for filing their figures.... Even if it's down to poor communication, that, in itself is a concern, isn't it? There were only a small handful of us who wary of TSI's involvement from the start - time will tell if we were right to be cautious....

[ZacNaloen]

No one is exempt to the premier league request, that is seperate

[melonhead]

sounds dodgy still.

the only reason i can see for neither of the companies releasing a cash flow statement is cos they want to cover up those figures somehow

[Royal Lady]

So no excuse then. Piss poor accountants or piss poor communication between TSI and RFC - either way a tad worrying if they can cock up on something that, apparently, every other PL club managed to do....

[ZacNaloen]

We don't know that they haven't submitted cash flow to the premier league, they are a separate entity to companies house

[Once were Biscuitmen]

As with all good conspiracies I imagine there is a pretty boring explanation; someone forgot to do this or did not realize they had to.

I would expect TSI to provide the parent company cash flow statement when someone or other gets back from holiday.

[ZacNaloen]

Or the club thought that because TSI own 90% of the company we didn't have to, not realising TSI won't be filing their accounts until Jan 13 and therefore we weren't exempt. It's someone being an idiot. Not necessarily dodgy although it COULD be, but to me worrying that that they have someone that didn't know this doing their accounts.

[NeilD]

If the company was incorporated during Jnuary 2012 then presumably the first set of accounts would be to 31 January 2013. A Private Limited Company has 10 months in which to submit its accounts,so they have until the 30 November 2013 to file. They are not yet late.
From memory (failing due to old age I know) but I think that the first set of accounts can be a period of up to 18 months so they could file accounts for the period Jan-12 to 30-Jun-13, to be submitted by April 2014.
Public Limited Companies are 7 months.

[MouldyRoyal]

Remember TSI are a Guernsey co so the time periods are different than for UK co's.

If I were a local practice offering auditing services, now would probably be a good time to try and make a pitch.

[Alexander Litvinenko]

The PL thing is a red-herring, don't get hung up on that.

The situation is that if a company does not submit a cash-flow statement and claims an exemption, then its parent company must submit one and make this publicly available.

I can't believe that this is deliberate from within the football club - my feeling (nothing more) is that they've been told TSI would be submitting this and the latter have failed to.

But then again, if TSI were going to make their accounts publicly available, why would they have decided to set themselves up at a boilerplate address in Gibraltar?

[Hoop Blah]

So no excuse then. Piss poor accountants or piss poor communication between TSI and RFC - either way a tad worrying if they can cock up on something that, apparently, every other PL club managed to do....

This isn't a Premier League thing RL, it's Companies House.

[MouldyRoyal]

Exactly, two seperate issues are being confused.

Submit a cash flow statement to Premier League. Since we have heard nothing about the PL chasing us for this, seems reasonable to assume this has been done, until we hear otherwise.

Submit statutory accounts to companies house for public record which should include a cash flow statement. An exemption has been claimed on the basis that RFC is controlled by TSI but TSI has yet to file its own accounts yet.

[Esteban]

Or the club thought that because TSI own 90% of the company we didn't have to, not realising TSI won't be filing their accounts until Jan 13 and therefore we weren't exempt. It's someone being an idiot. Not necessarily dodgy although it COULD be, but to me worrying that that they have someone that didn't know this doing their accounts.

This is the most likely explanation.

[winchester_royal]

It may well be a nothing story but I'd rather take the word of someone who knows about these things than the word of a 21 year old Student who has his head firmly lodged up Anton Zingarevich's backside.

No offence m8 but you don't know where I've worked or what I study so leave the patornising undertones for someone else