This is a fair run down of the situation, any company has 9 months from the end of their financial year to submit accounts or suffer penalties so B.A.F.C. if their accounts run from June to June for the year ending 2011 they should have been submitted by March 2012 obviously they have not been, why I dont know but if they are waiting for the development to happen I cannot see how the club expects any money from that happening.John Very Little wrote:I got the impression the accounts have been produced but hadn't been submitted to Companies House. I suspect that the club don't want us knowing how much we've lost over the past 2 seasons and want a successful development bid in order to announce that we can pay off whatever debts we have?DaveP wrote:I can't be bothered rummaging through endless posts on the subject but if someone can briefly summarise the reasons given as to why we've not had an AGm I'd be greatful. Sorry if this is old ground but we are throwing away large sums in fines and this is totally unecessary and unacceptable. Whatever the situation call an AGM as a bod if necessary put up with a couple of hours of moaning etc but get the flaming accounts signed off and submitted!!!
No response. I guess we owe at least £1500 and probably more
John Mackay announced there'd be an AGM at the end of August - there wasn't.
Tony Keen announced there'd be an AGM at the end of September - there wasn't.
While we're at it I still haven't received any correspondance about my debentures either, this was meant to be in September - another broken promise!!!
I think the club were awaiting the outcome of the ground development bid before calling an AGM but that doesn't stop them filing accounts with Companies House. The club are an absolute joke off the field with this and many other things and the board members don't seem to even care they are pi$$ing off the fans so much by their lack of care or attention to many of the things mentioned in this topic.
The development will be carried out by an unknown backer probably from the finance district of London, a builder will build it he will get his money from the backer, the tenants (Possibly the NHS ) will pay for the renting of the accomodation provided in the development (possibly office space under the new stand on the wilkie side) thats how the backer gets his money back over say 20 years, the NHS by the way do not like to buy accomodation but to lease it.
The backer will then own the ground, BAFC will lease it back under say a 99 year lease, Barrow AFC will possibly pay a nominal rent for its use.
As for Debenture holders you will not see one penny back once this happens, I think the BODS should make this very clear.
I by the way have no problem with this but you should know how these things work, Preston got one of its new stands built in exactly the same way with the ex Chairman Mr Hemmings the clubs backer for many years the benificiary.