the cost of Mr Lee leaving

[Trojan 67]

The one we're really missing is Mr Bristow.

Whether God the Devil up there decides to make lightning strike again down here on a TUFC supporter with a Lottery win, only God the Devil knows.

Dear God (the Devil)

Please "finger" a Euro rollover winner who bleeds yellow soon.

[portugull]

The Companies House states that the Clubs Accounts to 30 06 2010 due to be filed by 31 03 2011 are OVERDUE.
Late filing of Accounts should not happen in a well run organisation.
I understand Colin Lee was fired because, as CEO, hefailed to hire a competent financial controller
Do we have any qualifyed finance staff at Plainmoor?
Concerning?

[northyorkshiregull]

sorry not got a scanner.The losses are horrendous though and you can see why there are going to have to be cut backs.Thats probably why Buckle was so keen to get the rovers job,next season would have been hard to maintain this seasons level with us and he has got a club which keeps him close to him house in Shaldon and kids

[CP Gull]

I think it's pretty clear that the Accounts for y/e 30.6.2010 are going to show a big loss - in fact I think I'm right in saying that at some stage the board indicated that they were going to be similar to the y/e 30.6.2009 which if memory serves me right showed a loss of around £600k. In other words we have lost c £1.2 million over the last two (trading) years and that after we showed a very small (£10k?) profit in the first year after the consortium took over.

There is no doubt in my mind that the club must have lost a certain amount of control during the year that this current loss covers. I only say that because I can distinctly remember Simon Baker being asked a question at the last Fans Forum on the 2.2.2010 (on the day of the Ademeno "faxgate") and he suggested (when asked the question) that the club was probably in line to make a "small" loss for this year (i.e. to 30.6.2010) rather than the huge loss the previous year. I certainly don't think anyone at TUFC would regard a £600k loss as small and so I'm sure they weren't expecting it.


Clearly on the back of such unsustainable losses cutbacks have quite rightly had to be made and that started with the removal of the CEO.

[Glostergull]

Hi Guys
You can apply to companes house and pay a fee of £1 foe each report you want to download. I warn you though that there are a lot of reports and they need looking through carefully to make sure you get the right one or you may end up with a larger bill than you thought. I do note that they are Overdue on the Short accounts for the last year. If I am translating this accuratley ( I am sure someone will tell me if not) This means that an abreviated version of the accounts were submitted as the full accounts were not available at the time. I think i have this right as we have to submit our accounts to Companies house too. I don't deal with most of this. That's what we pay others to do for us.
I am not sure what rules if any apply for public posting of this information and there is nothing I can find to tell us.

[portugull]

CP they lost control because they put their trust in Colin Lee . Ex footballers are not known for their financial expertise!!

[Southampton Gull]

CP they lost control because they put their trust in Colin Lee . Ex footballers are not known for their financial expertise!!

I've been banging that drum for a couple of years now. Some of the blind followers won't ever accept it or admit that he was ever anything but the right man to lead them. The biggest mistake was not replacing him with someone that had the leadership and knowledge they are so lacking in.

[Wonderland]

Hi Matt

If you get the information of that file, any chance of forwarding to me ! Ta! I will not make a fee !!

Your Ma has my email address I think.

Cheers

Den

[ferrarilover]

That's the first thing I'll do Den, if only to have you make sense of the contents.

Matt.

[Plymouth Gull]

£200k?

Jesus wept.

[portugull]

Gullpost the loss was £681k

[basil75]

Yes it's outrageous, but lets look at it from another angle.

We knew our loss last year was around 600k before the accounts were published and we now know that 200k of this can be accounted for by this compensation - a one off cost that (you'd hope) won't be replicated in the future, rather than a day to day operating cost. Add depreciation (which is more of a theoretical loss, rather than an actual physical reduction in the clubs bank balance and spending power) and we can account for 300K - almost half of the huge loss that we don't have to really worry about.

[portugull]

In the published Accounts the only figure directly referring to Mr Lee is £101,547 asCompensation for loss of Directorship. Depreciation was £96,544.This still left a loss of circa £483,000 in addition. Alot of questions need asking at the AGM.

[Louis]

What about the compensation the club should be seeking from him re sponsorship deal? Makes me sick.

[ferrarilover]

Depreciation, what about the club depreciates in value?

Also, any chance of these accounts being made available on the board... Please.

Matt.