Bad debt 250K – see it now?

[Siderite]

At least Hilton didn’t fleece us…

[BigLeftToe]

Bad debt on a balance sheet would almost certainly be relating to money we are owed that we now no longer think is retrievable. So, who owes us £250k?

[Apollo11]

BigLeftToe wrote:

Bad debt on a balance sheet would almost certainly be relating to money we are owed that we now no longer think is retrievable. So, who owes us £250k?

Just the use of the words “money we are owed” infers that there was likely to have been some sort of formal loan or repayment agreement. To further walk on eggshells around the elephant in the room, I very strongly suspect that not to be the case.

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BigLeftToe

[Apollo11]

Perhaps a better way to say it would be “cash monies due to the Club, and which the Club could reasonably have expected to receive, but did not”…

[ironfromafar]

BigLeftToe wrote:

Bad debt on a balance sheet would almost certainly be relating to money we are owed that we now no longer think is retrievable. So, who owes us £250k?

Apollo11 wrote:

Perhaps a better way to say it would be “cash monies due to the Club, and which the Club could reasonably have expected to receive, but did not”…

This 250k mentioned on the BBC Sounds K Maguire interview .. its an awful lot of money to be owed and be allowed to be owed and without seemingly any action to retrieve it ISNT IT ? with the club loosing 65k a month and fans fund raising and assisting at every opportunity should it be be explained as commented bt BLT a couple of posts earlier???? .

[Apollo11]

… should it be be explained as commented bt BLT a couple of posts earlier????

Do you mean you want the Club to explicitly say it?

Perhaps there was an agreement not to pursue or reveal that info, in exchange for buying the Club for no fee.

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Siderite

[BigLeftToe]

What was the official reason for only being able to pay for season tickets with cash again??

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Awaywego

[ironfromafar]

BigLeftToe wrote:

What was the official reason for only being able to pay for season tickets with cash again??

BOSH ??

250k equates to 700-800 season tickets at a very very rough guess

[Apollo11]

ironfromafar wrote:

BigLeftToe wrote:

What was the official reason for only being able to pay for season tickets with cash again??

BOSH ??

250k equates to 700-800 season tickets at a very very rough guess

Joined-up thinking.

[Awaywego]

Bad debt could also be a purchase of something that can never be repaid.

[ironingboard]

Awaywego wrote:

Bad debt could also be a purchase of something that can never be repaid.

Training bibs and cones from wish.com?

[Apollo11]

Awaywego wrote:

Bad debt could also be a purchase of something that can never be repaid.

Or missing cash.

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Siderite

[SouthYorksIron]

BigLeftToe wrote:

What was the official reason for only being able to pay for season tickets with cash again??

To be fair, that was one of the few plausible things he ever said – if it’s necessary to lodge a large deposit as security for the facility to collect upfront payments, it rather defeats the object of collecting those payments upfront, especially at a discount.

Bear in mind the same restriction applies this year, so presumably current management think likewise.

*Not disputing ironfromafar’s earlier calculation though!?

[SouthYorksIron]

Awaywego wrote:

Bad debt could also be a purchase of something that can never be repaid.

It can, but in the case of a debtor going bust there would be invoices with precise figures on them – the chances of those adding up to such an exact round figure are so slim as to be infinitesimal.

Accountants tend not to round up figures when there’s documentation that allows a precise figure to be traceable and more easily audited.

[Awaywego]

Not if a large donation (debt) went to buy a stadium it wouldn’t.

[Apollo11]

Awaywego wrote:

Not if a large donation (debt) went to buy a stadium it wouldn’t.

Don’t choke on the dregs of the Dave Kool-Aid.

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Siderite

[Ferrite]

ironfromafar wrote:

s an awful lot of money to be owed and be allowed to be owed and without seemingly any action to retrieve it ISNT IT ? with the club loosing 65k a month and fans fund raising and assisting at every opportunity should it be be explained as commented bt BLT a couple of posts earlier????

What’s the point of spending money on court action when there is no reasonable expectation of recovering the sum even if the court finds in your favour? Just becomes good money after bad.

[ironfromafar]

Ferrite wrote:

ironfromafar wrote:

s an awful lot of money to be owed and be allowed to be owed and without seemingly any action to retrieve it ISNT IT ? with the club loosing 65k a month and fans fund raising and assisting at every opportunity should it be be explained as commented bt BLT a couple of posts earlier????

What’s the point of spending money on court action when there is no reasonable expectation of recovering the sum even if the court finds in your favour? Just becomes good money after bad.

I agree entirely and wasnt suggesting litigation ..more so clarification.
The reason there seems to be no action makes it more of a reason to explain what the debt is for .. i say again its a huge sum of money to casually write off.

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Awaywego

[Apollo11]

The reason there seems to be no action makes it more of a reason to explain what the debt is for .. i say again it’s a huge sum of money to casually write off.

The silence absolutely speaks for itself, imho

[Awaywego]

Well after Michelle’s appearance on politics live it wouldn’t be worth asking her, she didn’t understand the questions, rabbit trapped in the headlights,.
Normally they keep the guest on to come back to but they let her go very quickly.
Comment about British steel and Scunthorpe united going out of business wtf.

[Siderite]

Apollo11 wrote:

Awaywego wrote:

Not if a large donation (debt) went to buy a stadium it wouldn’t.

Don’t choke on the dregs of the Dave Kool-Aid.

Dave was donating £250,000 for the stadium while disputing the deal because of ransom strips he said caused issues with the deal (which were later solved in a matter of weeks). It’s a stretch. Outside the deluded, it’s fairly obvious what happened to this money, as it has been alluded to for a while.

[sufc_not_on_tour]

Awaywego wrote:

Well after Michelle’s appearance on politics live it wouldn’t be worth asking her, she didn’t understand the questions, rabbit trapped in the headlights,.
Normally they keep the guest on to come back to but they let her go very quickly.
Comment about British steel and Scunthorpe united going out of business wtf.

You really are beyond contempt you nasty little man!

[Awaywego]

Catchphrase Snot, “say what you see” I see your not contradicting me.
Haven’t seen anywhere that Dave donated £250,000 towards the stadium, fair play Dave.
I was referring to when the stadium was actually bought with money from the government and other parties at the time, the club i believe put some in.

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