THE HMRC PAYMENT UPDATE

http://www.cardiffcityfc.co.uk/page/New ... 08,00.html

Cheers Nobby

Whilst good news in itself it would appear that the embargo remains in place and will do so until the accounts are dealt with.

Still no new players then.

"With regards to the embargo, the HMRC issue is currently resolved, as are several of our issues linked to football creditors, while we are currently working on the final football creditor. The final embargo issue was the failure of the club to lodge year end accounts for May 2009 which the new management team and Directors are endeavouring to get resolved in coming days.



And as for snipers doubting information that members of this board had gleamed, it would appear that the stories mentioned here about the Sunderland an Charlton monies we owed, were not to far off the mark.
Also I am still not sure are we out of the embargo because the article mentions that the final embargo was put on us because the club have failed to lodge the end of year accounts, which we still haven't lodged, so are we or are, or are we not under an embargo.

I think the statement is slightly ambiguous, but that might just be me being (f*cking NEGATIVE,said it for the snipers, save them the bother lol), but after some of the double meaning read between the statements we were fed by Ridsdale who can blame us.

Hopefully Gethin Jenkins will treat us with a bit more respect and where possible tell us as it is.

I t

"The final embargo" .............. how many has there been ?

They failed to lodge year end accounts ? I didn't realise that constituted an embargo.

The spin is unbelievable.

First he said that hmrc would be paid this week giving the impression that embargo would not be a problem, now he has paid a month not the debt.

Now he is saying that the embargo is because of failure to file accounts and SHOULD BE sorted in a few days.

So when will we be able to sign loan players Gethin.

By the way Riddler wants his spin book back.

"With regards to the embargo, the HMRC issue is currently resolved, as are several of our issues linked to football creditors, while we are currently working on the final football creditor. The final embargo issue was the failure of the club to lodge year end accounts for May 2009 which the new management team and Directors are endeavouring to get resolved in coming days.



And as for snipers doubting information that members of this board had gleamed, it would appear that the stories mentioned here about the Sunderland an Charlton monies we owed, were not to far off the mark.
Also I am still not sure are we out of the embargo because the article mentions that the final embargo was put on us because the club have failed to lodge the end of year accounts, which we still haven't lodged, so are we or are, or are we not under an embargo.

I think the statement is slightly ambiguous, but that might just be me being (f*cking NEGATIVE,said it for the snipers, save them the bother lol), but after some of the double meaning read between the statements we were fed by Ridsdale who can blame us.

Hopefully Gethin Jenkins will treat us with a bit more respect and where possible tell us as it is.

I t

It looks like he has come out and told us a hell of alot more (truth) than the previous chairmen ever did Gwyn.

its good new that its being sorted, but bad new that it appears there is and still is an embargo in place - AND that it was actually far worse than originally thught -i.e. more reasons - I for one thought the 'late accounts' rule doesnt come in until next year.

Wierd as it may be, i take it as a positive that the club hierarchy are actually treating us like adults and telling us 'how it is'. We can now drop the silly dreams of big name signings (shame as I enjoyed them !) and regulate our ambitions a little.

I jusat hope the vast majority of fans see this as a welcome change of tack -towards honesty- from our new owners and back the club 100%.

By the way Gwyn - good idea ref the Academy. I'm a memeber of the current scheme, but wouldn't baulk at giving moreif it could be aimed toward a specific kid - I might even take a couple of games in to see if the 'lad' I was sponsoring was ay good. DIRECT sponsorship - whereby you are sponsoring Joe Bloggs kit and transport for the season is so much more powerfiul than a bland 'pay more inot the club, and we'll see thats its well spent ' especially when the club is in this shit through paying directors, management, staff and players ridiculous money that the vast majority of the scheme members could only dream of.

"With regards to the embargo, the HMRC issue is currently resolved, as are several of our issues linked to football creditors, while we are currently working on the final football creditor. The final embargo issue was the failure of the club to lodge year end accounts for May 2009 which the new management team and Directors are endeavouring to get resolved in coming days.



And as for snipers doubting information that members of this board had gleamed, it would appear that the stories mentioned here about the Sunderland an Charlton monies we owed, were not to far off the mark.
Also I am still not sure are we out of the embargo because the article mentions that the final embargo was put on us because the club have failed to lodge the end of year accounts, which we still haven't lodged, so are we or are, or are we not under an embargo.

I think the statement is slightly ambiguous, but that might just be me being (f*cking NEGATIVE,said it for the snipers, save them the bother lol), but after some of the double meaning read between the statements we were fed by Ridsdale who can blame us.

Hopefully Gethin Jenkins will treat us with a bit more respect and where possible tell us as it is.

I t

Gwyn

I have been "Mr Pedantic" about this embargo thing until I had evidence that it was in place. (who ?Me?Surely not?)

Well among this generally positive official release is confirmation that it was , and still is.

There seems to be plenty of movement and effort on the part of the club`s management to get it lifted though by paying one of the two months PAYE/NI debt due which will be enough to get the winding up petition removed provided we have reached agreement to pay the May debt (due 3 weeks ago) and pay future ones on time (June one due week after next). Also the football debts seem to have been dealt with or about to be.

That just leaves the late filing of accounts issue (the club has always been late filing accounts but it wasn`t an embargo issue for the League until its last AGM). I have posted elsewhere that the problem is evaluating the extent and timing of debts due and of attributing a fair value to the new stadium asset in the books. Now seems like most of the liability issues have been sorted , probably leaving only the forthcoming meeting with Langston`s lawyers to finish this off.And maybe they have now agreed with the auditors a figure for the stadium. If so , this would mean that the accounts for May 2009 can be completed and filed soon , removing the last embargo hurdle.

I expect the 2009 accounts to show a substantial net profit , compared to the big loss in 2008.This is for 2 reasons:-
1) the Langston debt will have been written down by at least £9m from the figure it was shown at in 2008 due to the renegotiation of the deal .

2) the stadium is probably going to be shown at a valuation higher than its actual cost to the club .

I hope that the remaining issues can be dealt with in a matter of days rather than weeks so we can all get back to concentrating on the far more important matter of supporting our football team.

Keith

Thought it was a great statement myself.
Keeping us up to date on matters.
Other than not allowing the RAMS books in the shop which I disagreed with Gethin Jenkins has been impressing me more and more as time has gone on.

Keith thanks for the info but how long will it take for the club to file the accounts??? because we have not got a lot of time to sign any players, i thought these actions could take weeks????

"With regards to the embargo, the HMRC issue is currently resolved, as are several of our issues linked to football creditors, while we are currently working on the final football creditor. The final embargo issue was the failure of the club to lodge year end accounts for May 2009 which the new management team and Directors are endeavouring to get resolved in coming days.



And as for snipers doubting information that members of this board had gleamed, it would appear that the stories mentioned here about the Sunderland an Charlton monies we owed, were not to far off the mark.
Also I am still not sure are we out of the embargo because the article mentions that the final embargo was put on us because the club have failed to lodge the end of year accounts, which we still haven't lodged, so are we or are, or are we not under an embargo.

I think the statement is slightly ambiguous, but that might just be me being (f*cking NEGATIVE,said it for the snipers, save them the bother lol), but after some of the double meaning read between the statements we were fed by Ridsdale who can blame us.

Hopefully Gethin Jenkins will treat us with a bit more respect and where possible tell us as it is.

I t

Gwyn I think this statements proves 3 things;

1: Carl has been absolutely spot on with everything he has posted about the club.

2: Peter Ridsdale has left the most god awful mess for the current owners to sort out. Again exactly as Carl has posted.

3: The club is attempting to be more open about it's affairs, certainly far more open than PR ever was, so I don't look on this statement as spin just look guys we are having to deal with all this shit Ridsdale left behind.

We should welcome that and believe that the current board are indeed working hard to resolve all the issues our club faces.

As regards Ridsdale well he has the hatrick now totally messed up Leeds, almost totally wrecked Barnsley and nearly finished Cardiff off. The mans an absolute tosser and the Football League should put an embargo on the tw*t ever being involved with a football club again.

Keith, you owe me a bacon sandwich.

What is clear Risdale and Co couldn’t run a corner shop.
All the issues in the statement are down to him.
Perhaps Gethin is good at keeping our house in order,

Keith, you owe me a bacon sandwich.

Probably a full English!

why dont we give jenkins a chance hes been in the job 5 min and people are on his back ,we got what we want and got rid of the leach risdale .i think the man is doing a ok job after the shit what risdale has left us in, what is the club ment to do give a update everytime or day they speak to people or creditors

In fairness, that's a more open and honest statement than we're used to. The Trust were in contact with Gethin today and asked for more openness. MAYBE this is the start of a more transparent regime? Let's hope so.

In fairness, that's a more open and honest statement than we're used to. The Trust were in contact with Gethin today and asked for more openness. MAYBE this is the start of a more transparent regime? Let's hope so.

No chance.
The "just speculation" comment indicates otherwise given "speculation" made turns out to have been true...

"With regards to the embargo, the HMRC issue is currently resolved, as are several of our issues linked to football creditors, while we are currently working on the final football creditor. The final embargo issue was the failure of the club to lodge year end accounts for May 2009 which the new management team and Directors are endeavouring to get resolved in coming days.



And as for snipers doubting information that members of this board had gleamed, it would appear that the stories mentioned here about the Sunderland an Charlton monies we owed, were not to far off the mark.
Also I am still not sure are we out of the embargo because the article mentions that the final embargo was put on us because the club have failed to lodge the end of year accounts, which we still haven't lodged, so are we or are, or are we not under an embargo.

I think the statement is slightly ambiguous, but that might just be me being (f*cking NEGATIVE,said it for the snipers, save them the bother lol), but after some of the double meaning read between the statements we were fed by Ridsdale who can blame us.

Hopefully Gethin Jenkins will treat us with a bit more respect and where possible tell us as it is.

I t

Correct Gwyn, I also feel Jenkins is trying to take us for fools and trying a bit of the Riddler spin on us.