Accounts Out Tomorrow?

[the gunslinger 3,366]

I see that the board have still to submit the accounts of Rangers Football Club Limited for the year to 30/06/13 to Companies House, and they are now 26 days overdue.

 

The directors are therefore failing in their statutory duties and are incurring needless fines for the club caused by their dereliction of duty.

 

somners excuse is that the auditors told them to put them out with the main accounts. no doubt whatever they are hiding is in both.

[the gunslinger 3,366]

we will se what easdale is made of. he has been on the board for basically the entirety of these accounts.

 

no blaming past regimes for him.

[Stimpy 0]

As far as I'm aware, everything still goes through RFC Ltd. It's still the football club. RIFC is just a holding company with it's only assets being the shares in RFC Ltd and amounts due from RFC Ltd. RFC Ltd still owns the stadium, players etc.

 

Cheers. Wasn't too concerned about them being filed, now I am. Apart from fines are there other possible punishments for late filing?

[Bluedell 5,884]

"Failure to deliver accounts on time is a criminal offence. In addition, the law imposes a civil penalty for late filing of accounts on the company. The amount of the penalty depends on how late the accounts arrive and whether the company is private or public at the date of the balance sheet."

 

Fine is £150 for up to a month, then increasing to £375 for 2-3 months, and £1,500 if over 6 months.

[compo 7,657]

should make for interesting reading

[Bluedell 5,884]

somners excuse is that the auditors told them to put them out with the main accounts. no doubt whatever they are hiding is in both.

 

The Group accounts were submitted on 30/12/13, so that doesn't appear to be a valid excuse.

[bluebear54 0]

As far as I'm aware, everything still goes through RFC Ltd. It's still the football club. RIFC is just a holding company with it's only assets being the shares in RFC Ltd and amounts due from RFC Ltd. RFC Ltd still owns the stadium, players etc.

 

As a matter of interest, how would fans/King have to go about gaining a significant say in the Club? Could they do it alone through RFC Ltd alone or would they also need a stake in RIFC?

Apologies if it's a dumb question. Such matters I leave to the more informed.

[Bluedell 5,884]

The accounts are historic.

I can't understand the doom and gloom from some. We've all known.

The review and the Board's vision and future plans will be more important.

 

They will be an indication of how much the current board have been able to control costs during the current season. Obviously the future is important but if the accounts show a lack of cost control then it reflects badly on certain members of the board who served during the period of the accounts.

[Bluedell 5,884]

As a matter of interest, how would fans/King have to go about gaining a significant say in the Club? Could they do it alone through RFC Ltd alone or would they also need a stake in RIFC?

Apologies if it's a dumb question. Such matters I leave to the more informed.

 

They would need to do it through RIFC. RFC is wholly owned by RIFC and has no third party shareholders.

[Calgacus 8]

They would need to do it through RIFC. RFC is wholly owned by RIFC and has no third party shareholders.

 

In theory though, could RIFC sell the shares in RFC to a third party?