Mattoon Posted April 9, 2015 Share Posted April 9, 2015 Why will they definitely have submitted them? It's only a 1500 fine if they're late, and after that it probably takes months to take any other action. Not beyond the realms of possibility we're delaying things is it? Think its £3000 after 3 months and £7500 after 6 months. Chump change for fat man and bobbins. If it staves off unrest until the season is over he'll happily pay that. Link to post Share on other sites More sharing options...
mrmojorisin75 Posted April 9, 2015 Share Posted April 9, 2015 Yeah, now does not seem like the time to release info that he's cooked the books to hide the profit he's worked so hard to generate. Link to post Share on other sites More sharing options...
UV Posted April 9, 2015 Share Posted April 9, 2015 Why will they definitely have submitted them? It's only a 1500 fine if they're late, and after that it probably takes months to take any other action. Not beyond the realms of possibility we're delaying things is it? Why would they release any information about the profit at all if they were trying to hide it or delay it? There will obviously be a backlog with it being the end of the tax year and Easter as well. I typically download the accounts as soon as I find out they're available, the 2012 accounts have a CH datestamp of 28/3/13 but I only downloaded them on 10/4/13 & the Swiss Ramble bloke only reported on them then too, so I guess that's around when they were publicly available - http://www.newcastle-online.org/nufcforum/index.php/topic,93808.msg4338282.html#msg4338282 I think you can put the tinfoil hat away for now. Link to post Share on other sites More sharing options...
Nobody Posted April 9, 2015 Share Posted April 9, 2015 Aye, I find this talk about not filing them on time and happily accepting a fine seems a bit weird if we've already announced a profit. I know we've got the most unprofessional cunts in the world in charge, but the books are the one thing they seem bothered about so doubt they would just decide to not file them. Link to post Share on other sites More sharing options...
AyeDubbleYoo Posted April 9, 2015 Share Posted April 9, 2015 I think you can put the tinfoil hat away for now. It's going back in the cupboard, how dare I think anything fishy could be happening at Newcastle United? Link to post Share on other sites More sharing options...
Stifler Posted April 9, 2015 Share Posted April 9, 2015 I wonder if that's £25m off the loan. Weeks later, this is what you say? Not reckon it might have been covered? to be honest I haven't read the thread or anything on the topic. The headline is as far as I have got. Link to post Share on other sites More sharing options...
loki679 Posted April 9, 2015 Share Posted April 9, 2015 I wonder if that's £25m off the loan. Weeks later, this is what you say? Not reckon it might have been covered? to be honest I haven't read the thread or anything on the topic. The headline is as far as I have got. Fucking hell Link to post Share on other sites More sharing options...
Interpolic Posted April 9, 2015 Share Posted April 9, 2015 Bloody hell. OK I have a question, what does NUFC stand for? Thanks in advance, next question coming soon. Link to post Share on other sites More sharing options...
Guest Roger Kint Posted April 9, 2015 Share Posted April 9, 2015 Link to post Share on other sites More sharing options...
snabelkabel Posted April 10, 2015 Share Posted April 10, 2015 Bloody hell. OK I have a question, what does NUFC stand for? Thanks in advance, next question coming soon. Newcastle United Finance Company Link to post Share on other sites More sharing options...
Guest chopey Posted April 10, 2015 Share Posted April 10, 2015 Bloody hell. OK I have a question, what does NUFC stand for? Thanks in advance, next question coming soon. Newcastle United Finance Company That would make a good banner Link to post Share on other sites More sharing options...
Guest Roger Kint Posted April 10, 2015 Share Posted April 10, 2015 Jokes aside what if Ashley has charged the club interest on the debt since day 1? £4m a year comes to about that Also avoid the issue of the debt not changing, in fact explains why they were keen to stress it Link to post Share on other sites More sharing options...
Guest chopey Posted April 10, 2015 Share Posted April 10, 2015 £4million a year interest ? just take it off the £8million a year for the advertising. Link to post Share on other sites More sharing options...
Guest Roger Kint Posted April 10, 2015 Share Posted April 10, 2015 £4million a year interest ? just take it off the £8million a year for the advertising. Well its his company so can charge it if he wants, its about 3% of the current loan. No idea what else it can be tbh Link to post Share on other sites More sharing options...
Mattoon Posted April 10, 2015 Share Posted April 10, 2015 I'm sure I read somewhere that the decision to charge no interest wasn't set in stone as offset by the advertising. He'd be mental to do it like but I wouldn't put it past him. Link to post Share on other sites More sharing options...
Guest Roger Kint Posted April 10, 2015 Share Posted April 10, 2015 I'm sure I read somewhere that the decision to charge no interest wasn't set in stone as offset by the advertising. He'd be mental to do it like but I wouldn't put it past him. Yeah i know it would be controversial and it was suggested he wouldnt do it but he also was proven to be a liar so.... Link to post Share on other sites More sharing options...
AyeDubbleYoo Posted April 10, 2015 Share Posted April 10, 2015 I'm sure I read somewhere that the decision to charge no interest wasn't set in stone as offset by the advertising. The two aren't related at all are they? Link to post Share on other sites More sharing options...
Guest Roger Kint Posted April 10, 2015 Share Posted April 10, 2015 I'm sure I read somewhere that the decision to charge no interest wasn't set in stone as offset by the advertising. The two aren't related at all are they? Other than the fact both benefit the owner no. Completely separate, the interest would presumably go to MASH as iirc the debt is run through there Link to post Share on other sites More sharing options...
Interpolic Posted April 10, 2015 Share Posted April 10, 2015 Bloody hell. OK I have a question, what does NUFC stand for? Thanks in advance, next question coming soon. Newcastle United Finance Company Thanks man. OK, what is Accounts? Link to post Share on other sites More sharing options...
Interpolic Posted April 10, 2015 Share Posted April 10, 2015 Jokes aside what if Ashley has charged the club interest on the debt since day 1? £4m a year comes to about that Also avoid the issue of the debt not changing, in fact explains why they were keen to stress it Hasn't it always been referenced in every set of accounts as an interest-free loan? If so then surely they can't go back on that, that would be crazy. Fucking wish I didn't have to wonder so much about accounting these days, it's boring and confusing. Link to post Share on other sites More sharing options...
loki679 Posted April 10, 2015 Share Posted April 10, 2015 Jokes aside what if Ashley has charged the club interest on the debt since day 1? £4m a year comes to about that Also avoid the issue of the debt not changing, in fact explains why they were keen to stress it Hasn't it always been referenced in every set of accounts as an interest-free loan? If so then surely they can't go back on that, that would be crazy. Fucking wish I didn't have to wonder so much about accounting these days, it's boring and confusing. I'm sure they mentioned at one of the fans forum about the SD advertising being ok as Ashley wasn't charging interest on the loans. That's probably as close to an official acknowledgement that you'll get. edit: The exchange went as follows: Steve Cole (Supporters’ branch representative): “What is the saving that Sports Direct makes on advertising around the stadium?” Club response: The club suggested that while it is always proactively looking to attract new commercial partners and to sell that advertising space, in the current climate, it could not command a sum for that space anywhere close to the £129m invested into the club interest free by the owner.” Andrew McClay (Members’ representative): “Can the commercial value of that advertising not come off the debt that the club owes the owner?” Club response: The board explained that the owner’s position is clear, and that the club is not attempting to hide it. To add context, it was explained that the club’s debt cost £8m in interest alone every year before Mike Ashley purchased the club.” http://www.thenorthernecho.co.uk/sport/11039090._Why_doesn_t_Mike_Ashley_sell_Newcastle_United___Here_s_one_compelling_reason____/?ref=var_0 Link to post Share on other sites More sharing options...
Guest Roger Kint Posted April 10, 2015 Share Posted April 10, 2015 Jokes aside what if Ashley has charged the club interest on the debt since day 1? £4m a year comes to about that Also avoid the issue of the debt not changing, in fact explains why they were keen to stress it Hasn't it always been referenced in every set of accounts as an interest-free loan? If so then surely they can't go back on that, that would be crazy. Fucking wish I didn't have to wonder so much about accounting these days, it's boring and confusing. Yeah they always have but i am really struggling to find any justification for costs to rise like that other than something extreme. That explanation above suggests to me that advertising couldnt match £129m of investment that he has given us interest free not that he wont charge interest in the future(although i think they did say it previously iirc) That would also explain the three month overdue accounts for the holding co, genuinely cant think of a sane reason to beleive the increase. Starting to wish they never told us Link to post Share on other sites More sharing options...
loki679 Posted April 10, 2015 Share Posted April 10, 2015 Could they have carried forward the losses from previous years and offset this years profits against them for tax? I know it's possible but i'm not sure how long you can carry losses forward. Would certainly take a big chunk out of the tax bill if they can. Link to post Share on other sites More sharing options...
Guest Roger Kint Posted April 10, 2015 Share Posted April 10, 2015 Could they have carried forward the losses from previous years and offset this years profits against them for tax? I know it's possible but i'm not sure how long you can carry losses forward. Would certainly take a big chunk out of the tax bill if they can. That wouldnt affect the profit, the accounts would still show huge profits but the corporation tax liability would be reduced by any losses carried forward Link to post Share on other sites More sharing options...
Mattoon Posted April 10, 2015 Share Posted April 10, 2015 This is from Ashleyout.com re: Interest on debts owed to MASH. Secondly, whilst no interest has been charged in recent financial periods, the loan is actually registered as bearing an interest of LIBOR + 0.5%, again meaning that should Mike Ashley wish to charge interest, there is nothing stopping him from doing so (source: Swiss Ramble). Link to post Share on other sites More sharing options...
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