Re: What Is Going ON?

By Arthur1/7/2022 14:39Fri Jul 1 14:39:22 2022In response to Re: What Is Going ON?

Views: 939

Norm,

I think that Fulcrum Sports Investments Limited will be struck off. I don't think anyone will produce accounts for them. Staines Town Football Club Limited is a different kettle of fish. They currently have no officers. Steve resigned as Company Secretary, subsequently Joe resigned as a Director. When there are no directors, then the members (shareholders) have to take steps to appoint a director. Antonio Solve seems to be the shareholder. Secondly, Staines Town Football Club Limited has a negative balance sheet of £200k. This means it is technically bankrupt and should cease trading. The previous year Joe undertook the company was a going concern for the following 12 months. There is no such guarantee in the current year's micro accounts. The main creditor is Joe who has booked sums due to him for legal fees paid on behalf of STFC Limited. The Thames Club also are owed money by STFC Limited. Either of these two major creditors could make an application to appoint a receiver/liquidaor to wind up Staines Town Football Club Limited.

I can't comment on the lease. I know (hearsay) that it is for as peppercorn (=nominal) rent. I am not sure if there are any other ongoing commitments to the Thames Club as landlords. I would hope that if STFC is the leaseholder is in the process of being liquidated then the lease becomes null and void. That point has not yet been reached.

I retired as an accountant in March 2013 ...... I wish I had been a ballet dancer!!