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CPFC 2010 Accounts Overdue

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View Y Ddraig Goch's Profile Y Ddraig Goch Flag In The Crowd 05 Jun 18 6.56pm Send a Private Message to Y Ddraig Goch Add Y Ddraig Goch as a friend

Originally posted by Midlands Eagle

The financial penalties for failing to file accounts on time is the least of the club's worries.

The poor PR is far more damaging as this has been picked up by the national media and there must be many interested parties thinking "here we go again"

The credit reference agencies will have picked up on what is normally a red flag and will be issuing warnings on their credit reports so that suppliers and other clubs will be loathe to extend credit

Potentially, however there are plenty of valid reasons why this may have happened. Once they are released, we will have a better idea

 


the dignified don't even enter in the game

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View laddo's Profile laddo Flag london 05 Jun 18 7.08pm Send a Private Message to laddo Add laddo as a friend

Up until now I've been chilled about this. Now I'm starting to worry.

 


laddo

"People say, live fast, die young. I say live fast, die old. That's me, the non-conformist".
David Brent.

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View pssguy's Profile pssguy Flag 05 Jun 18 7.33pm Send a Private Message to pssguy Add pssguy as a friend

Well at least we are not Villa

[Link]

Even a cut-price Benteke won't be an option there

 

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View slubglurge's Profile slubglurge Flag welling 05 Jun 18 9.33pm Send a Private Message to slubglurge Add slubglurge as a friend

What is clear is that until those accounts are lodged and scrutinised we will not be doing any transfer business. If we have fallen foul of FFP and receive a punishment we may not be doing any business at all.It may explain our pathetic January window as well. Looks like we've ballsed up again

 

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View Palace 1979's Profile Palace 1979 Flag Surrey 05 Jun 18 10.04pm Send a Private Message to Palace 1979 Add Palace 1979 as a friend

Originally posted by slubglurge

What is clear is that until those accounts are lodged and scrutinised we will not be doing any transfer business. If we have fallen foul of FFP and receive a punishment we may not be doing any business at all.It may explain our pathetic January window as well. Looks like we've ballsed up again

Let's wait and see before making any judgement.

Hopefully a sound explanation, and if we have FFP issues then there must be many more clubs in the same position. I trust Parish as he has always stated he would never put us in financial jeopardy, and from what I have seen so far I have no reason to doubt this.

 


Some people are like Slinkies … not really good for anything, but you can’t help smiling when you see one tumble down the stairs.

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View martin2412's Profile martin2412 Flag The Big Wide World 05 Jun 18 10.10pm Send a Private Message to martin2412 Add martin2412 as a friend

There's probably a perfectly simple explanation as to why they're late. Perhaps one of Diane Abbott's relations done our accounts.

 

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View Ali_Campbell's Profile Ali_Campbell Flag New Addington 05 Jun 18 10.33pm Send a Private Message to Ali_Campbell Add Ali_Campbell as a friend

Knowing Palace, it’s probably some bloke in the Sainsbury’s stockroom with a calculator.

 

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View Kentbaldeagle64's Profile Kentbaldeagle64 Flag Swanscombe 05 Jun 18 11.42pm Send a Private Message to Kentbaldeagle64 Add Kentbaldeagle64 as a friend

Always like to put pressure on ourselves. As a player potentially coming to the club i would be thinking nah give it a miss may not get pai if it goes tits up.

Why leave it so late, no need for this sloppy business practice.

 

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View edskan's Profile edskan Flag 06 Jun 18 4.40am Send a Private Message to edskan Add edskan as a friend

The usual mixed feelings of pride and embarrassment in supporting Palace.

 

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View Direwolf's Profile Direwolf Flag Lincoln 06 Jun 18 8.52am Send a Private Message to Direwolf Add Direwolf as a friend

It wouldn't be Palace would it without us making some sort of balls-up. This season has been great for the media:
Worst ever start to a season
Fastest sacking of manager
No fit strikers
Penaltygate
January transfer window?
No fit strikers
Puncheon and Beltgate
No accounts

 


Vote for a Muppet - you know you'll get one anyway.

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View ambrose7's Profile ambrose7 Flag Croydon 06 Jun 18 8.59am Send a Private Message to ambrose7 Add ambrose7 as a friend

Originally posted by Mapletree

Chill. If there is one thing all of our owners are good at it's managing finances.

The more concerning thing is I doubt it's their job, I'd have thought it's Phil Alexander's. Given how active Parish is, Alexander can't have all that much to do these days so you'd have thought he'd get it done - it's something like season 20 so he's not new to it. Although as a CEO who has overseen two administrations, his accounting CV isn't the best out there.

 


26th January 2010 - Enter Administration
2nd May 2010 - D-Day 1 - Survival at Hillsborough
1st June 2010 - D-Day 2 - Survival at Lloyds
7th June 2010 - CPFC2010 exchange contracts.

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View Mapletree's Profile Mapletree Flag Croydon 06 Jun 18 9.10am Send a Private Message to Mapletree Add Mapletree as a friend

Originally posted by ambrose7

The more concerning thing is I doubt it's their job, I'd have thought it's Phil Alexander's. Given how active Parish is, Alexander can't have all that much to do these days so you'd have thought he'd get it done - it's something like season 20 so he's not new to it. Although as a CEO who has overseen two administrations, his accounting CV isn't the best out there.

As has been said above, there are many reasons for late filing and it's not uncommon. It's also no big deal unless it affects our ability to do business. I see no evidence it has.

There is comment in the Press from CPFC saying it's all under control. I have been through this and just can't get excited about it.

Maybe it's linked to a change in business structure which makes it hard to reconcile Financial Accounts between old and new entities. Don't really know and don't really care. This will blow over.

And as for PR, I can't see anyone else caring either. We have been through far more interesting issues in the recent past. This is just the usual Press feeding frenzy.

In terms of responsibility, in the end it's the Board that carries the can. It has to make sure the Accountants deal with this and I am sure will have a strong focus on it. Whoever is Chair of the Audit Committee will have to make sure all is properly done in time to prevent any escalation.

Edited by Mapletree (06 Jun 2018 9.14am)

 

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