HUFC - Debt Ridden or not????

loyal blue · **Joined:** Thu Feb 28, 2008 1:53 pm **Posts:** 1912

We continually hear that the club are not in debt to IOR or in debt in general.

Accounts filed at Companies house suggest otherwise. In Summary the following are obvious. I have downloaded the abbreviated accounts to 31/12/2012 and it shows the club are 12.2 million quid in the red.

So if IOR clear the debt how come we have liabilities amounting to this?

Cash in Bank - £379, 726
Assets - £525, 928
Net Worth - £ -12, 281, 355
Liabilities - £13, 026, 391

I can forward a copy should anyone want to see a copy.

PJPoolie · **Joined:** Wed Mar 06, 2013 6:28 pm **Posts:** 15342

We've been through this quite a lot on here haven't we?

The only debt is to IOR.

kev_hufc · **Joined:** Mon Jun 25, 2007 12:23 am **Posts:** 514

PJPoolie wrote:

We've been through this quite a lot on here haven't we?

The only debt is to IOR.

Genuine question here as I'm confused now...
If the ONLY debt is to IOR and they decide tomorrow to sell up but nobody wants to buy us, would they put us in admin with debts of 12 million quid? Or would they write the debt off before they left?

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Andy Dibbles Gloves · **Joined:** Tue Dec 11, 2012 3:32 pm **Posts:** 6817

I think thry would find it very hard to prove they were owed any money..........especially if they tried the admin route.

Anyway, its boring.

kev_hufc · **Joined:** Mon Jun 25, 2007 12:23 am **Posts:** 514

But if they have loaned the club money they will be able to prove that.

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loyal blue · **Joined:** Thu Feb 28, 2008 1:53 pm **Posts:** 1912

that was my point. we hear that the club is not in debt, yet they submit profit and loss accounts the the likes of HMRC/Companies house of 12 million quid in the red.

Like someone says, if they demand their "loans" back, where does that leave us as a club?

PJPoolie · **Joined:** Wed Mar 06, 2013 6:28 pm **Posts:** 15342

loyal blue wrote:

that was my point. we hear that the club is not in debt, yet they submit profit and loss accounts the the likes of HMRC/Companies house of 12 million quid in the red.

Like someone says, if they demand their "loans" back, where does that leave us as a club?

Why on Earth after owning the club since 1997 would they do that?

It would be completely pointless as it would just spiral the club into Administration and they'd get next to nothing back. I know they get stick for certain things but I think after being around for so long and running the club with great stability and professionalism they deserve a bit better to be honest. They are hardly some self interested fly by night characters like have turned up down the road on a conveyor belt are they?

alienlife · **Posted:** Mon Dec 02, 2013 10:34 pm

Oh for fucks sake this shite again.

I'll try and make this simple and apologise to the financially savvy for my reluctance to use grown up words.

It isn't uncommon in businesses where a parent and subsidiary exist for the parent company to show loans etc to the sub, conversely the subsidiary accounts show these as a liability.

The debts are to IOR not to banks etc and if IOR sold the club they could CHOOSE to write off the debt or to try and recoup their investment.

I'd suggest the only reason IOR would play hardball is if a group of people tried to force them out, if they chose to walk because they'd had enough there would be nobody to recoup losses from so debts would probably be written off.

There are lots of ifs and buts, however the main point is that despite what some of the miserable buggers on here think that liability means sod all and isn't a cause for concern.

So stop bleating on about it FFS!

poolietim · **Posted:** Mon Dec 02, 2013 11:10 pm

FFS stop this thread or you'll awaken Voice of Reason and then boooooom we'll have the whole "exit strategy" bollocks again ad nauseum

Freaky Teeth · **Posted:** Mon Dec 02, 2013 11:28 pm

poolietim wrote:

FFS stop this thread or you'll awaken Voice of Reason and then boooooom we'll have the whole "exit strategy" bollocks again ad nauseum

I forgot about him

Ritchies birthmark · **Joined:** Tue Dec 20, 2011 10:31 am **Posts:** 5637

United wrote:

poolietim wrote:

FFS stop this thread or you'll awaken Voice of Reason and then boooooom we'll have the whole "exit strategy" bollocks again ad nauseum

I forgot about him

He made more comebacks than George foreman

born toulouse · **Posted:** Tue Dec 03, 2013 9:01 am

But never came up with a useful grilling device that cooks off unhealthy fat.

Compo · **Posted:** Tue Dec 03, 2013 10:34 am

I am surprised Sussex and the Fatty havent come on here saying IOR are going to walk away, which according to Rat Boy is the end of the season (he might get it right one year I am alive like)

alleztfc · **Posted:** Tue Dec 03, 2013 10:52 am

Well they've been trotting out the same shite for over a decade and the chasm still looks mighty wide to me...

Snowy · **Joined:** Fri Aug 18, 2006 12:18 pm **Posts:** 37618

Can we nominate a day once a year where the soothsayers of financial Armageddon can run riot givng us there conspiracies theories as they tap away franticslly expounding their absurd obseessions from the Grassy Knollington home for the terminally deluded.

PJPoolie · **Joined:** Wed Mar 06, 2013 6:28 pm **Posts:** 15342

Snowy wrote:

Can we nominate a day once a year where the soothsayers of financial Armageddon can run riot givng us there conspiracies theories as they tap away franticslly expounding their absurd obseessions from the Grassy Knollington home for the terminally deluded.

Or as it's more commonly known, Darlington.

Fatty eats roadkill · **Posted:** Wed Dec 04, 2013 10:45 am

Just for you guys-

Chairman Voldemort tried killing us for the £1.2million he said we owed him even though he said we were debt free.

Couldn't happen to you guys could it!

PJPoolie · **Joined:** Wed Mar 06, 2013 6:28 pm **Posts:** 15342

Fatty eats roadkill wrote:

Just for you guys-

Chairman Voldemort tried killing us for the £1.2million he said we owed him even though he said we were debt free.

Couldn't happen to you guys could it!

Here he is Captain Crackpipe.

He didn't try killing you Fatty he did kill you.

Fatty eats roadkill · **Posted:** Wed Dec 04, 2013 11:18 am

We cannot be killed. We are immortal clappp

PJPoolie · **Joined:** Wed Mar 06, 2013 6:28 pm **Posts:** 15342

Immoral? Yes many local businesses agree.

Joe Mac · **Posted:** Wed Dec 04, 2013 11:25 am

1883 fans really are the most deluded not nice people in the world..

Mr Ripper · **Posted:** Wed Dec 04, 2013 3:27 pm

Joe Mac wrote:

1883 fans really are the most deluded not nice people in the world..

They'd be deliriously happy if they had 1883 fans.

In fact if they had even nearly half that amount they'd probably be stupid enough to start calling themselves something stupid like "the Manure of non-league football".

Loid Haw-Haw of Sussex · **Posted:** Wed Dec 04, 2013 5:28 pm

I3 million quid..

Malcolm Dawes Knew My Father · **Joined:** Wed May 11, 2011 4:25 pm **Posts:** 4198

So - how much did the George Reynolds Folly cost?

At least IOR's investment has helped to fund 17 consecutive seasons of HUFC in the Football League.

Which decade do we have to go back to to count 17 consecutive Darlington FC seasons in the Football League? The 1950s?

Andy Park · **Joined:** Wed Oct 24, 2012 1:11 pm **Posts:** 39

Joe Mac wrote:

poolie fans really are the most deluded not nice people in the world..

edited that for you...

Andy Park · **Joined:** Wed Oct 24, 2012 1:11 pm **Posts:** 39

Malcolm Dawes Knew My Father wrote:

So - how much did the George Reynolds Folly cost?

At least IOR's investment has helped to fund 17 consecutive seasons of HUFC in the Football League.

Which decade do we have to go back to to count 17 consecutive Darlington FC seasons in the Football League? The 1950s?

erm the 1990s- 2000s u dumb ass :naughty:

I know its a bit hard to count when your busy cashing your giro and mugging oaps but you could at least try as it makes you look a bit dim

Joe Mac · **Posted:** Wed Dec 04, 2013 7:14 pm

Just to remind everyone that this Andy Park 'lovely lovely person'.. Isn't the ACTUAL Andy Park 'lovely lovely person'..But just another sad 1883 trolling 'lovely lovely person'...

Spender · **Posted:** Wed Dec 04, 2013 7:17 pm

Andy Park wrote:

Malcolm Dawes Knew My Father wrote:

So - how much did the George Reynolds Folly cost?

At least IOR's investment has helped to fund 17 consecutive seasons of HUFC in the Football League.

Which decade do we have to go back to to count 17 consecutive Darlington FC seasons in the Football League? The 1950s?

erm the 1990s- 2000s u dumb ass :naughty:

I know its a bit hard to count when your busy cashing your giro and mugging oaps but you could at least try as it makes you look a bit dim

Oh do fuck off, you lying pointless peasant. You even lied to Darlo fans about raising money.

I'm not allowed to advise on Pools finances. Certain people get annoyed.

We're ok though.

parmo · **Posted:** Wed Dec 04, 2013 7:17 pm

it's Dibble surely

alleztfc · **Posted:** Wed Dec 04, 2013 7:24 pm

When this twat first posted, Sussex replied 'cracking first post, Andy' or somesuch shite about 5 minutes later.

More to be pitied. The real Andy can't spell.

Loid Haw-Haw of Sussex · **Posted:** Wed Dec 04, 2013 8:20 pm

alleztfc wrote:

When this twat first posted, Sussex replied 'cracking first post, Andy' or somesuch shite about 5 minutes later.

No doubt you'll be discussing me over xmas day lunch..what a pair of nobs.. :laugh:

alleztfc · **Posted:** Wed Dec 04, 2013 8:23 pm

As discussed, more to be pitied if that's all your life has in it...

tupling's barber · **Joined:** Fri Sep 30, 2011 9:47 pm **Posts:** 250

Andy Park wrote:

Malcolm Dawes Knew My Father wrote:

So - how much did the George Reynolds Folly cost?

At least IOR's investment has helped to fund 17 consecutive seasons of HUFC in the Football League.

Which decade do we have to go back to to count 17 consecutive Darlington FC seasons in the Football League? The 1950s?

erm the 1990s- 2000s u dumb ass :naughty:

I know its a bit hard to count when your busy cashing your giro and mugging oaps but you could at least try as it makes you look a bit dim

Yeah chronologically incorrect, Darlo lasted a couple of decades after coming back into the league in 1990 but 3 times in administration ripping off the St John's Ambulance & various other charities , local businesses & other organisations time & time again. Classy. Not to mention all but one of those league seasons being spent in the basement & that was a relegation season. Think I feel 17 non-league seasons coming on for 1883 or whatever the fook you're called these days if you last that long. You're already £150 k in debt ,playing at level 8 in a borrowed ground & out of town.

tupling's barber · **Joined:** Fri Sep 30, 2011 9:47 pm **Posts:** 250

alienlife wrote:

Oh for fucks sake this shite again.

I'll try and make this simple and apologise to the financially savvy for my reluctance to use grown up words.

It isn't uncommon in businesses where a parent and subsidiary exist for the parent company to show loans etc to the sub, conversely the subsidiary accounts show these as a liability.

The debts are to IOR not to banks etc and if IOR sold the club they could CHOOSE to write off the debt or to try and recoup their investment.

I'd suggest the only reason IOR would play hardball is if a group of people tried to force them out, if they chose to walk because they'd had enough there would be nobody to recoup losses from so debts would probably be written off.

There are lots of ifs and buts, however the main point is that despite what some of the miserable buggers on here think that liability means sod all and isn't a cause for concern.

So stop bleating on about it FFS!

Concurring - Alien knows how to read a balance sheet. His analysis is spot on. Anybody in doubt speak to Companies House they'll explain it to you but it's as Alien says.

HUFC - Debt Ridden or not????

Gadgies online