[moondog]

Mrhappy, on 16 February 2017 - 11:03 PM, said:

More like out of sight.

Yes could well be, the tweet from an account previously and possibly still run by Sutcliffe seeking to add to the illusion, as they communicate plans to recruit recruiters.


Much like the untruth peddled by Club/Turner back in September that a share acquisition had been made.

http://mobile.cheste...my-3321943.aspx

[moondog]

I note FBT failed to pay up as promised in a deal with the Manchester Football league last year


http://www.mancheste...explained-29131


http://www.mancheste...-fbt-ends-29111

[Sammy Spireite]

Latest updates on Companies House for FBT International Football Academy Ltd (09962276) today:

- Sutcliffe resigned as a director on 4th Feb
- Hegaryt (assuming it should say Hegarty) appointed Director 4th Feb
- Accounting period shortened from 30th June to 31st March 2017
- Confirmation Statement issued, dated 20th Jan showing LS owning 9% shares and MH 91%

[moondog]

I missed the tweet and link from my earlier posting

"We are in the process of recruiting people who are able to recruit players to our academy from around the world"



https://mobile.twitt...ve?q=AcademyFBT

[Guest_freelander2_*]

moondog, on 14 February 2017 - 04:19 PM, said:

Yes Mike Hegarty from FBT is supposed to be writing to them asking them to confirm back how much they are owed with a view to arranging payment.

Any update on this as parents are now being asked by Booth & Co to submit a proof of debt.

[Eastander]

moondog, on 17 February 2017 - 04:33 PM, said:

I missed the tweet and link from my earlier posting

"We are in the process of recruiting people who are able to recruit players to our academy from around the world"



https://mobile.twitt...ve?q=AcademyFBT

Apologies if this has already been explained but I'm confused as to why these guys are wearing CFC badges?

[moondog]

Eastander, on 17 February 2017 - 09:46 PM, said:

Apologies if this has already been explained but I'm confused as to why these guys are wearing CFC badges?

They bought the kit for the season before the change of ownership, also have to finish season playing as Chesterfield

[moondog]

freelander2, on 17 February 2017 - 09:31 PM, said:

Any update on this as parents are now being asked by Booth & Co to submit a proof of debt.

I've just asked

[moondog]

moondog, on 17 February 2017 - 10:01 PM, said:

I've just asked

Response, raise dieect with Hegarty at FBT as far as AC is concerned if they don't pay the parents the club will have no dealings with FBT going forward, with outstanding debts of £70k relating to the old company they won't pay everyone.

[Guest_freelander2_*]

moondog, on 18 February 2017 - 07:25 AM, said:

Response, raise dieect with Hegarty at FBT as far as AC is concerned if they don't pay the parents the club will have no dealings with FBT going forward, with outstanding debts of £70k relating to the old company they won't pay everyone.

Am I being thick here? I recall AC suggesting, possibly at the AGM that the estimated total deficiency was in the region of £300K.

[moondog]

freelander2, on 18 February 2017 - 08:33 AM, said:

Am I being thick here? I recall AC suggesting, possibly at the AGM that the estimated total deficiency was in the region of £300K.

I recall he did but I think he was referring to the "enterprise" as a whole, i.e, also the 2nd business that FBT have finally confirmed with companies house they own and control (91%).

[Guest_freelander2_*]

moondog, on 18 February 2017 - 08:39 AM, said:

I recall he did but I think he was referring to the "enterprise" as a whole, i.e, also the 2nd business that FBT have finally confirmed with companies house they own and control (91%).

If that was the case:

CFC Football Development School Ltd - Estimated total deficiency = £70K

Therefore FBT International Football Academy Ltd, which was incorporated on 21/01/16 has managed to trade at a £230K loss in 12 months?

Is that what we're saying?


EDIT - The estimate total deficiency of CFCFDS has got to be greater than £70K. The value of the balance sheet at 30/06/15 was -£78K and I think it's fair to assume, it continued to be loss making.

This post has been edited by freelander2: 18 February 2017 - 08:53 AM

[Mrhappy]

moondog, on 18 February 2017 - 07:25 AM, said:

Response, raise dieect with Hegarty at FBT as far as AC is concerned if they don't pay the parents the club will have no dealings with FBT going forward, with outstanding debts of £70k relating to the old company they won't pay everyone.

Problem is Mr Hegarty doesn't seem to do e mails. Still awaiting a response to mine sent 7th Feb.

[Guest_freelander2_*]

moondog, on 18 February 2017 - 07:25 AM, said:

Response, raise dieect with Hegarty at FBT as far as AC is concerned if they don't pay the parents the club will have no dealings with FBT going forward, with outstanding debts of £70k relating to the old company they won't pay everyone.

Knowing what has been alleged by the former members of staff, should any creditor be left out of pocket?

[moondog]

freelander2, on 18 February 2017 - 08:50 AM, said:

If that was the case:

CFC Football Development School Ltd - Estimated total deficiency = £70K

Therefore FBT International Football Academy Ltd, which was incorporated on 21/01/16 has managed to trade at a £230K loss in 12 months?

Is that what we're saying?


EDIT - The estimate total deficiency of CFCFDS has got to be greater than £70K. The value of the balance sheet at 30/06/15 was -£78K and I think it's fair to assume, it continued to be loss making.

That appears to be the case going by what we've been told, the £300k would include the £55k in loans (IIRC) by CFC officials. Yes there was still at least 7 months trading before the new company was formed in January 2016.

[moondog]

freelander2, on 18 February 2017 - 09:22 AM, said:

Knowing what has been alleged by the former members of staff, should any creditor be left out of pocket?

There is certainly at least a moral argument given their conduct that the Directors should fund the shortfall

[dim view]

freelander2, on 18 February 2017 - 09:22 AM, said:

Knowing what has been alleged by the former members of staff, should any creditor be left out of pocket?

How does Hegarty score on the patented Freelander Shadiness Calculator?

[moondog]

I think this extra page annotated to the CFSS accounts for the last two years, but not in the first year, is quite telling



CFC Football Development School Limited

Report of the Accountants to the Directors of
CFC Football Development School Limited

The following reproduces the text of the report prepared for the directors in respect of the
company's annual unaudited financial statements, from which the unaudited abbreviated
accounts (set out on pages two to four) have been prepared.

In accordance with our terms of engagement and in order to assist you to fulfil your duties under the
Companies Act 2006, we have compiled the financial statements of the company for the year ended
30 June 2015 which comprise the Profit and Loss Account, the Balance Sheet and the related notes
from the accounting records and information and explanations you have given to us.

This report is made to the company's Board of Directors, as a body, in accordance with the terms of
our engagement. Our work has been undertaken so that we might compile the financial statements
that we have been engaged to compile, report to the company's Board of Directors that we have
done so, and state those matters that we have agreed to state to them in this report and for no other
purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone
other than the company and the company's Board of Directors, as a body, for our work or for this
report.

You have acknowledged on the Balance Sheet as at 30 June 2015 your duty to ensure that the
company has kept proper accounting records and to prepare financial statements that give a true and
fair view under the Companies Act 2006. You consider that the company is exempt from the
statutory requirement for an audit for the period.

We have not been instructed to carry out an audit of the financial statements. For this reason, we
have not verified the accuracy or completeness of the accounting records or information and
explanations you have given to us and we do not, therefore, express any opinion on the financial
statements.

[dim view]

moondog, on 18 February 2017 - 10:38 AM, said:

I think this extra page annotated to the CFSS accounts for the last two years, but not in the first year, is quite telling



CFC Football Development School Limited

Report of the Accountants to the Directors of
CFC Football Development School Limited

You have acknowledged on the Balance Sheet as at 30 June 2015 your duty to ensure that the
company has kept proper accounting records and to prepare financial statements that give a true and
fair view under the Companies Act 2006. You consider that the company is exempt from the
statutory requirement for an audit for the period.

We have not been instructed to carry out an audit of the financial statements. For this reason, we
have not verified the accuracy or completeness of the accounting records or information and
explanations you have given to us and we do not, therefore, express any opinion on the financial
statements.

That presumably means that the Liquidator can say he has not seen the accounts either. Groan. He may not even be aware of the number of accounts used by Sutcliffe.

[Guest_freelander2_*]

moondog, on 18 February 2017 - 10:38 AM, said:

I think this extra page annotated to the CFSS accounts for the last two years, but not in the first year, is quite telling



CFC Football Development School Limited

Report of the Accountants to the Directors of
CFC Football Development School Limited

The following reproduces the text of the report prepared for the directors in respect of the
company's annual unaudited financial statements, from which the unaudited abbreviated
accounts (set out on pages two to four) have been prepared.

In accordance with our terms of engagement and in order to assist you to fulfil your duties under the
Companies Act 2006, we have compiled the financial statements of the company for the year ended
30 June 2015 which comprise the Profit and Loss Account, the Balance Sheet and the related notes
from the accounting records and information and explanations you have given to us.

This report is made to the company's Board of Directors, as a body, in accordance with the terms of
our engagement. Our work has been undertaken so that we might compile the financial statements
that we have been engaged to compile, report to the company's Board of Directors that we have
done so, and state those matters that we have agreed to state to them in this report and for no other
purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone
other than the company and the company's Board of Directors, as a body, for our work or for this
report.

You have acknowledged on the Balance Sheet as at 30 June 2015 your duty to ensure that the
company has kept proper accounting records and to prepare financial statements that give a true and
fair view under the Companies Act 2006. You consider that the company is exempt from the
statutory requirement for an audit for the period.

We have not been instructed to carry out an audit of the financial statements. For this reason, we
have not verified the accuracy or completeness of the accounting records or information and
explanations you have given to us and we do not, therefore, express any opinion on the financial
statements.

Two things are just not adding up for me:

1) The minutes from the fans’ forum on the 25th April 2015 read as follows, when asked about the development centre, CT said that it was running at great profit, which will reduce the costs of the academy.

2) In a coaches' meeting involving DS & CT, Saunders is alleged to have asked CT why the DC was kept open if it was producing no players for the club. CT's alleged response was similar, although not identical to point 1.