Begbies Traynor Administrators of Torquay United.

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Expand view Topic review: Begbies Traynor Administrators of Torquay United.

Begbies Traynor Administrators of Torquay United.

by Dave » 26 May 2024, 11:42

exilegull wrote: 22 May 2024, 15:11 Presumably season ticket sales are generating significant cashflow in the period.
That's not really a question I, or any of us can answer, nor do I see as a question for us to answer. Your knowledge on this subject is far greater and wider than mine so not questioning you at all here, but I seriously doubt any forward planning by the Bryn consortium has been done on a forecast they might sell X-hundreds of season tickets.

As a layman looking from the outside in, I see our new owners offering to pay creditors off 'in full' rather than pence in the pound, in a very timely manner, I see them secure the services of an up and coming manager that would have required compensation to be paid, and the setting of a playing budget that's been confirmed as one of the biggest in the NLS for next season , they've not done all this with out a serious plan in place and finance to cover it.

Couple that with a partnership with local kit suppliers VX3 and the futuristic kit designs us fans got to vote on , so fan engagement already on the up, and community involvement already happening through TUST, which already have volunteers to help tidy up the ground, as well as tradesman offering time and materials FOC, just as I said they would 6 months ago on another thread and got sneered at for, I would say all signs point towards our new owners as to having their heads screwed on in all the right places.

How far and how fast TUFC progresses from here is going to be partly down to us fans, and how much patience we have, and how far we're prepared to back them, I'm already looking forward to the community share issue, I've stated all along I'd buy in, and I will.

Begbies Traynor Administrators of Torquay United.

by Dave_Pougher » 23 May 2024, 15:24

TommyGunn wrote: 23 May 2024, 09:04 £150,000 fee to administrators :O
Plus, their always paid first and in full.

Begbies Traynor Administrators of Torquay United.

by UnitedinDevon » 23 May 2024, 13:08

TommyGunn wrote: 23 May 2024, 09:04 £150,000 fee to administrators :O
Not surprised, they charge very high fees and this has dragged on

Another big middle finger to CO and the housing company behind him for me

Begbies Traynor Administrators of Torquay United.

by Southampton Gull » 23 May 2024, 13:02

wbw wrote: 23 May 2024, 08:50 Absolutely 100% correct. Despite one posters obsession with the club accountant, the club appears to gave been properly, apart from the stupidly over inflated playing budget.
More sycophantic nonsense, the club was being run into the ground but obviously it would suit your agenda to pretend otherwise. I'm stating facts or will I be seeing you in court........

Begbies Traynor Administrators of Torquay United.

by TommyGunn » 23 May 2024, 09:04

£150,000 fee to administrators :O

Begbies Traynor Administrators of Torquay United.

by wbw » 23 May 2024, 08:50

exilegull wrote: 22 May 2024, 22:29 Accountants account for the figures and prepare the financial statements, they don’t set the budgets and make the spending decisions, the board of directors and management do that.

This should be taken in no way as a defence of Osborne, that is absolutely not the purpose - but there remains very little evidence that on the non-footballing side, there was any substantial extravagance. So the losses of 20k a week mostly came from having a playing budget well in excess of the capacity of the club.
Absolutely 100% correct. Despite one posters obsession with the club accountant, the club appears to gave been properly, apart from the stupidly over inflated playing budget.

Begbies Traynor Administrators of Torquay United.

by ShropGull » 23 May 2024, 08:33

The Statement of administrator's proposal is now available to view
https://find-and-update.company-informa ... ng-history

Begbies Traynor Administrators of Torquay United.

by Southampton Gull » 23 May 2024, 05:58

exilegull wrote: 22 May 2024, 22:29 Accountants account for the figures and prepare the financial statements, they don’t set the budgets and make the spending decisions, the board of directors and management do that.

This should be taken in no way as a defence of Osborne, that is absolutely not the purpose - but there remains very little evidence that on the non-footballing side, there was any substantial extravagance. So the losses of 20k a week mostly came from having a playing budget well in excess of the capacity of the club.
Unfortunately you're incorrect. A certain accountant set the stupidly low season ticket price offer some years ago which ultimately allowed Osborne to gain control of the club.

Begbies Traynor Administrators of Torquay United.

by exilegull » 22 May 2024, 22:29

Accountants account for the figures and prepare the financial statements, they don’t set the budgets and make the spending decisions, the board of directors and management do that.

This should be taken in no way as a defence of Osborne, that is absolutely not the purpose - but there remains very little evidence that on the non-footballing side, there was any substantial extravagance. So the losses of 20k a week mostly came from having a playing budget well in excess of the capacity of the club.

Begbies Traynor Administrators of Torquay United.

by UnitedinDevon » 22 May 2024, 22:26

wbw wrote: 22 May 2024, 20:17 Strange isn't it? 3 or 4 other posters make similar observations regarding the creditors list, none of which do you chose respond to.
because yours was drivel

Begbies Traynor Administrators of Torquay United.

by wbw » 22 May 2024, 21:27

exilegull wrote: 22 May 2024, 14:12 There doesn't seem to be anything unusual about the football creditors and nothing to suggest these weren't paid on time up to the point the club announced the intention to enter administration at which point payment to creditors will generally stop and then simply accrue. Same with utilities and inland revenue, the amounts don't suggest any build of unpaid amounts prior to the plug being pulled.
:goodpost:

Begbies Traynor Administrators of Torquay United.

by Southampton Gull » 22 May 2024, 21:00

bobbytanz1963 wrote: 22 May 2024, 20:48 The club had an accountant ? Next you will be saying there was a club secretary who monitored emails !!
Albeit an incompetent one so an incompetent secretary shouldn't come as a surprise to anyone 😉

Begbies Traynor Administrators of Torquay United.

by Southampton Gull » 22 May 2024, 20:59

wbw wrote: 22 May 2024, 20:17 Strange isn't it? 3 or 4 other posters make similar observations regarding the creditors list, none of which do you chose respond to.
Nothing strange about it at all. Yours was the only one spouting nonsense 👍

Begbies Traynor Administrators of Torquay United.

by bobbytanz1963 » 22 May 2024, 20:48

Southampton Gull wrote: 22 May 2024, 19:03 Losses averaging £20k/week suggest you're talking your usual nonsense. Thank God the accountant has left the building 🙏
The club had an accountant ? Next you will be saying there was a club secretary who monitored emails !!

Begbies Traynor Administrators of Torquay United.

by wbw » 22 May 2024, 20:17

Strange isn't it? 3 or 4 other posters make similar observations regarding the creditors list, none of which do you chose respond to.

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