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New Trust statement on club finances

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Melbourne Cobbler
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« Reply #580 on: July 23, 2021, 23:08:14 pm »

One of the best gigs I ever went to, was INXS at Leicester.
Was Soggy there with a length of architrave strapped to his back, probably standing on his own?
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« Reply #581 on: July 24, 2021, 09:13:18 am »

Once bitten twice shy Tel.

I’ve been there a few times mate. At least twice with Cardozie and recently with the council.  Grin Grin
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« Reply #582 on: July 24, 2021, 09:34:08 am »

But it does on any profits the business makes so maybe the company will used as an entity to reduce liability on transactions generally when the land deal goes through. There could be multiple accounting reasons why transactions are made using that company. Look, I’m not saying people are wrong, I’m just making the point that whilst people can claim there is something underhand a foot, there are also plenty of legitimate reasons too. I just happen to think they are more logical. Keep saying it though, I fcuk things up all the time so don’t listen to me.
You would need to see the contract, all depends on the share value and whether any “good will” payment was made.
As I said people use BVI for a reason.
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« Reply #583 on: July 24, 2021, 09:50:45 am »

You would need to see the contract, all depends on the share value and whether any “good will” payment was made.
As I said people use BVI for a reason.
Seems to me they have put money into BDJ, BDJ loans the money to the club. When the deals go through the funds are paid to BDJ clearing the loan and leaving a profit which is subject to what I understand is 0% corporation tax in the BVI. If the club was loaned the money via a UK company and was paid the assets from the deal then it would be subject to 19% corporation tax on the profit. Assuming they look to make a few million that’s a lot of money? I’m just guessing but it seems a logical explanation to me?
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« Reply #584 on: July 24, 2021, 10:09:49 am »

Seems to me they have put money into BDJ, BDJ loans the money to the club. When the deals go through the funds are paid to BDJ clearing the loan and leaving a profit which is subject to what I understand is 0% corporation tax in the BVI. If the club was loaned the money via a UK company and was paid the assets from the deal then it would be subject to 19% corporation tax on the profit. Assuming they look to make a few million that’s a lot of money? I’m just guessing but it seems a logical explanation to me?
The loan repayment wouldn’t be subject to corporation tax either.
There’s no profit from the loan for BDJ because the asset belongs to the club and therefore subject to corp tax on NTFC.
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« Reply #585 on: July 24, 2021, 10:25:55 am »

Blimey!!! Each to their own etc, etc, etc, but I find that very difficult to believe. Have you been to many gigs? Tongue
Loads. I could not even begin to count them all. Be it in a pub, or Hammy odeon, Rock City, De Montford,etc,etc,etc, but one thing, I never ever went to see Hawkwind.
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« Reply #586 on: July 24, 2021, 10:45:47 am »

Loads. I could not even begin to count them all. Be it in a pub, or Hammy odeon, Rock City, De Montford,etc,etc,etc, but one thing, I never ever went to see Hawkwind.

There’s still time. You never know they might overtake INXS as your favourite ever gig. Grin
Touring in September. Cambridge Corn Exchange and Leamington Spa Assembly Hall are the 2 nearest venues.
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« Reply #587 on: July 24, 2021, 10:55:40 am »

There’s still time. You never know they might overtake INXS as your favourite ever gig. Grin
Touring in September. Cambridge Corn Exchange and Leamington Spa Assembly Hall are the 2 nearest venues.
I woud rather stick bumble bees up my @rse.
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« Reply #588 on: July 24, 2021, 10:56:57 am »

The loan repayment wouldn’t be subject to corporation tax either.
There’s no profit from the loan for BDJ because the asset belongs to the club and therefore subject to corp tax on NTFC.
I’m not sure that’s quite right, depends how it’s structured.
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« Reply #589 on: July 24, 2021, 10:59:55 am »

I’m not sure that’s quite right, depends how it’s structured.
Meanwhile Kid and Shoey are on about Hawkwind, this forum gets more surreal by the day. Where’s Soggy, I want to hear more on Michael Hutchence
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« Reply #590 on: July 24, 2021, 11:14:31 am »

Meanwhile Kid and Shoey are on about Hawkwind, this forum gets more surreal by the day. Where’s Soggy, I want to hear more on Michael Hutchence
You only want to hear about the Hutch because hes an aussie. In the meantime, we need something to discuss, as long as it does not get nasty.
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« Reply #591 on: July 24, 2021, 11:21:41 am »

You only want to hear about the Hutch because hes an aussie. In the meantime, we need something to discuss, as long as it does not get nasty.
Correct, too much arguing on here.
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« Reply #592 on: July 24, 2021, 11:30:57 am »

Meanwhile Kid and Shoey are on about Hawkwind, this forum gets more surreal by the day. Where’s Soggy, I want to hear more on Michael Hutchence

Well Melly. It’s just as interesting/uninteresting as all the other posts on the thread. What’s going on, what’s actually happened, is it the councils, KT/DBs, the Chinese, or The Trusts fault. Is anything ever going to get resolved. Is the stand ever going to get finished. Is the ground ever going to get a significant increase in capacity. Are we ever going to have any money. Is anyone ever going to know the truth, is anyone ever going to get done. Is KT a good bloke, are the council crap, do the trust know what they’re doing. Do you pay tax in certain countries whether you live there, have a bank account there or go on holiday there, blah, blah, blah. Nobody really knows much, so we all just keep hoping it doesn’t all go tits up.
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« Reply #593 on: July 24, 2021, 11:34:24 am »

Well Melly. It’s just as interesting/uninteresting as all the other posts on the thread. What’s going on, what’s actually happened, is it the councils, KT/DBs, the Chinese, or The Trusts fault. Is anything ever going to get resolved. Is the stand ever going to get finished. Is the ground ever going to get a significant increase in capacity. Are we ever going to have any money. Is anyone ever going to know the truth, is anyone ever going to get done. Is KT a good bloke, are the council crap, do the trust know what they’re doing. Do you pay tax in certain countries whether you live there, have a bank account there or go on holiday there, blah, blah, blah. Nobody really knows much, so we all just keep hoping it doesn’t all go **** up.

Tìts
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« Reply #594 on: July 24, 2021, 11:38:35 am »

Tìts
More interesting probably. Retired wall of death riders have been round in less circles.
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« Reply #595 on: July 24, 2021, 12:27:34 pm »

Meanwhile Kid and Shoey are on about Hawkwind, this forum gets more surreal by the day. Where’s Soggy, I want to hear more on Michael Hutchence
Grin
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« Reply #596 on: July 24, 2021, 13:29:27 pm »

I think all we’ve learnt is that you wouldn’t shop on here to find a decent accountant  Grin
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« Reply #597 on: July 24, 2021, 15:19:08 pm »

I think all we’ve learnt is that you wouldn’t shop on here to find a decent accountant  Grin

I think we’ve all learnt that the saying “the devils finds work for idle hands” could never be used more appropriate, than for some involving themselves in this situation.



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« Reply #598 on: July 24, 2021, 16:56:10 pm »

It always strikes me that throughout this whole drama and indeed over a million views and 20k posts on the Redevelopment thread that it was all so avoidable.

 A loan, however badly implemented, and a land option that done properly could and should have given every partner what they wanted and needed. The Council with a redeveloped asset of theirs, the club with an improved stadium on the original plans with hotel and conference centre, the council loan repaid in full, the owners at the time sitting pretty with a good return and the club debt repaid. Buckinghams and other partners paid for the work they carried out in full.
 Everyone happy and no one losing out.

Even when things were going sideways DC could have bailed out with the offers of £23 million to buy the land and settle up.
Instead we have the sh1tshow we have. The council slated and taxpayers out of pocket, Cardozas disgraced and rightly so, the Bushey boys still seemingly out of reach by the plod, Mackintosh somewhere out there, the club nearly lost but it wasn’t thankfully.
The various groups of us arguing the toss over tax rules and people’s intentions.

The main constant is us the fans. Before, during and after.
No particular reason for this post other than I’ll be glad when something is finished.

Roll on the start of the season. UTC FTP.
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« Reply #599 on: July 24, 2021, 17:05:03 pm »

It always strikes me that throughout this whole drama and indeed over a million views and 20k posts on the Redevelopment thread that it was all so avoidable.

 A loan, however badly implemented, and a land option that done properly could and should have given every partner what they wanted and needed. The Council with a redeveloped asset of theirs, the club with an improved stadium on the original plans with hotel and conference centre, the council loan repaid in full, the owners at the time sitting pretty with a good return and the club debt repaid. Buckinghams and other partners paid for the work they carried out in full.
 Everyone happy and no one losing out.

Even when things were going sideways DC could have bailed out with the offers of £23 million to buy the land and settle up.
Instead we have the sh1tshow we have. The council slated and taxpayers out of pocket, Cardozas disgraced and rightly so, the Bushey boys still seemingly out of reach by the plod, Mackintosh somewhere out there, the club nearly lost but it wasn’t thankfully.
The various groups of us arguing the toss over tax rules and people’s intentions.

The main constant is us the fans. Before, during and after.
No particular reason for this post other than I’ll be glad when something is finished.

Roll on the start of the season. UTC FTP.
Agree with all of that TBH mate.
What sticks in my throat is the Bushey boys.
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