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AGM


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85 replies to this topic

#1 Michael Ashton

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Posted 06 July 2014 - 08:36 PM

I'm very surprised that with various comments about a lack of AGM their is no comment on the Public Notices,page 31 of Saturdays Mail.

 

The AGM will be held at the Lisdoonie at 7.00pm on Thursday 7th August 2014. Official nominations forms for directors can be obtained from the secretary and must be submitted by 24th July.

 

Personally I hope that as many debenture holders and season ticket holders as possible will attend.


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#2 Red Stripe

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Posted 07 July 2014 - 09:54 AM

Nice to finally have a date for the AGM but like many others I do not waste my money buying the Evening Mail.
It would be useful if the Club website was updated to show the details.

Mike Liversedge

 

 

I know that you believe you understand what you think I said, but I'm not sure you realize that what you heard is not what I meant.


#3 Michael Ashton

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Posted 07 July 2014 - 10:44 AM

I checked the Web Site, Mike, and was surprised to see no mention of it. I have put it on Facebook but am not too good on that so I don't know how successful it will be. 


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#4 soss

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Posted 07 July 2014 - 11:04 AM

I cant make it as I'm overseas on business...can we submit questions and will the full minutes of the meeting be available this time. when are the accounts going to be available as these need to be seen before the AGM by the debenture holders?

 

I don't understand why it has not been officially announced by the club and we have to hear about it from a "snippet" in the evening mail via the forum...NOT GOOD ENOUGH!!!!


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#5 Red Stripe

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Posted 07 July 2014 - 02:33 PM

As a debenture holder, I've filled out a "Contact Us" form on the Club website requesting a copy of the Accounts to be presented at the AGM.

 

It will be interesting to see if I get any kind of reply.


Mike Liversedge

 

 

I know that you believe you understand what you think I said, but I'm not sure you realize that what you heard is not what I meant.


#6 Michael Ashton

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Posted 07 July 2014 - 02:54 PM

I'm sure the accounts will be available to every debenture holder attending the AGM but as far as I am aware a request can be made to the secretary, I think, 7 days before the AGM.

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#7 Michael Ashton

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Posted 07 July 2014 - 02:55 PM

I should have said every debenture holder is entitled to a copy of the accounts whether or not they attend the AGM.

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#8 D11

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Posted 07 July 2014 - 03:55 PM

The 2012 accounts have not as yet been presented to the debenture holders but have been filed with companies house for some time now.

 

At the AGM there should be both the 2012 and 2013 accounts available to debenture holders

 

 

I personalty believe the debenture holders should be presented the accounts before they are publicly available.


"we all make mistakes that's why they put rubbers on pencils"


#9 Michael Ashton

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Posted 07 July 2014 - 04:30 PM

According to the current Articles a copy of every set of accounts and auditors report to be laid before an AGM should be sent to every debenture holder not less than 7 days before the date of the meeting. In the past this has not been possible for a number of reasons but a request can be made to the secretary by any debenture holder and the person requesting should be furnished with a copy..

 

This means that the information is technically seen by debenture holders only and is only made public at the AGM.

 

All this sounds very simple but in practice is not as easy as it sounds.


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#10 D11

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Posted 07 July 2014 - 08:01 PM

Good post Michael and details as I read and understood them,


"we all make mistakes that's why they put rubbers on pencils"


#11 morty

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Posted 09 July 2014 - 05:25 AM

as of the 2012 accounts the clubs net worth was £-97,203 with the liabilities being £265,432 so I dont know where the £950k in debt put on another thread comes from unless from a copy of the latest 2013 accounts which I havnt seen yet ??

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#12 D11

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Posted 09 July 2014 - 07:47 AM

as of the 2012 accounts the clubs net worth was £-97,203 with the liabilities being £265,432 so I dont know where the £950k in debt put on another thread comes from unless from a copy of the latest 2013 accounts which I havnt seen yet ??

 

If the club shut today and the ground was sold for £959,000 there would be no change. You must remember that Directors shares,debentures,mortgage and other loans are all debt if you fold.


Edited by D11, 09 July 2014 - 07:47 AM.

"we all make mistakes that's why they put rubbers on pencils"


#13 bangbang

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Posted 09 July 2014 - 09:22 AM

I wouldn't want my debentures back. But I guess there are people out there that have bought a few more than me.
Rip the bludgers heads off!

#14 Deep

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Posted 09 July 2014 - 11:34 AM

I did not know the Directors held shares, I was under the impression it was Debentures only.

#15 Paul Ballantyne

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Posted 09 July 2014 - 12:11 PM

If the club shut today and the ground was sold for £959,000 there would be no change. You must remember that Directors shares,debentures,mortgage and other loans are all debt if you fold.


If you don't mind me asking Neil, what was this figure when you were helping the bod??

#16 D11

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Posted 09 July 2014 - 12:36 PM

If you don't mind me asking Neil, what was this figure when you were helping the bod??

 

 

Certainly Paul  When I first looked at the Financials in 2010 the figure was £963'00.00 K when I left in May 2011 it was £947'000.00 K    at the end of  November 2011 it was £1042'000.00


"we all make mistakes that's why they put rubbers on pencils"


#17 Michael Ashton

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Posted 09 July 2014 - 01:49 PM

I understand that the 2012 & 2013 accounts will be considered at the AGM but the 2013 accounts have not yet been filed at Companies House.

 

The total net current liabilities at 2011 as shown by the accounts presented at the last AGM were a little more than £810,000.


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#18 D11

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Posted 09 July 2014 - 02:14 PM

Michael

 

Very strange as these are whats posted on Companies house

 

 

                                                                            2012                                     2011                                     2010

TOTAL ASSETS                                               £ 799,000                             £ 818,000                             £ 815,000

TOTAL LIABILITIES                                          £ 896,000                          £ 1,042,000                             £ 963,000

TANGIBLE NET WORTH                                   £ -97,000                            £ -224,000                            £ -148,000

CURRENT ASSETS                                            £ 76,000                               £ 77,000                               £ 55,000

CURRENT LIABILITIES                                     £ 265,000                             £ 349,000                             £ 300,000

WORKING CAPITAL                                         £ -189,000                           £ -272,000                           £ -245,000
 


Edited by D11, 09 July 2014 - 02:17 PM.

"we all make mistakes that's why they put rubbers on pencils"


#19 lifer

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Posted 09 July 2014 - 04:37 PM

So are we better off now than in 2010 with liabilities of £896,000 as apposed to £963,000 or is that me being thick!!!!!!!!!1

#20 Paul Ballantyne

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Posted 09 July 2014 - 04:38 PM

Cheers Neil, reading what you have put above comes across to me that in 2011 the total liabilities were £1.042,000 but in 2012 its only £896,000 so something seems to be going in the right direction or am I reading it wrong?




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