Last night's meeting

[Adrian]

The club's accounts are available from the Companies House website.
They're incredibly limited - a balance sheet with very little detail.

The levels of reporting required will depend on the type and size of company.
We're not a company that has shares available for public trading so there's not much needed.

The idea that some things should just be made available is odd. It doesn't happen in bigger companies so won't happen for us.

[Mike the Dagger]

The club's accounts are available from the Companies House website.
They're incredibly limited - a balance sheet with very little detail.

The levels of reporting required will depend on the type and size of company.
We're not a company that has shares available for public trading so there's not much needed.

The idea that some things should just be made available is odd. It doesn't happen in bigger companies so won't happen for us.

Agree that details would be kept from the public, however, the meeting on Monday was a closed meeting with the people that nominally own the club (the Members) and the people that run it on their behalf (the Board).

Given the meeting was called because the club is apparently in financial problems, therefore seeking investment, it is a decent assumption that the details of the finances would be of interest to the Members and they had every right to ask to see the detail before voting.

TBH the meeting Monday seems to have been a bit of a farce.

[ARNU]

I don't get this. If I was buying your house,Id only have to satisfy you and your solicitor that I had sufficient funds to purchase it,be it cash,loan or mortgage.I wouldn't have to satisfy your neighbours your postman or anyone else not directly involved in the transaction.So my point here is why the Fark does Tamplin have to impress anyone else but the members,and furthermore if he didn't they could have abstained.

So who here on the unhappy side is a member ?

[Mark]

Definitely not designed to be a dig at members but I guessed someone would take it as such. It was just a hunch.

Also it isn't the decision, it's the manner and basis of the decision I'm questioning.

And thanks Mike for clarifying.

[dagger4eva]

I don't get this. If I was buying your house,Id only have to satisfy you and your solicitor that I had sufficient funds to purchase it,be it cash,loan or mortgage.I wouldn't have to satisfy your neighbours your postman or anyone else not directly involved in the transaction.So my point here is why the Fark does Tamplin have to impress anyone else but the members,and furthermore if he didn't they could have abstained.

So who here on the unhappy side is a member ?

You seem very inquisitive for some-one who has made it perfectly clear he doesn't care two hoots.

[ARNU]

I don't get this. If I was buying your house,Id only have to satisfy you and your solicitor that I had sufficient funds to purchase it,be it cash,loan or mortgage.I wouldn't have to satisfy your neighbours your postman or anyone else not directly involved in the transaction.So my point here is why the Fark does Tamplin have to impress anyone else but the members,and furthermore if he didn't they could have abstained.

So who here on the unhappy side is a member ?

You seem very inquisitive for some-one who has made it perfectly clear he doesn't care two hoots.

Just trying to understand,thats all. Every day is a school day as they say. The subject cannot be avoided anyway its in every thread right now.
I care in as much as I'd like to still have a club to support,but I didn't really care who runs it,and I don't really know why others are so deeply engrossed in all this politics yet aint even members. Someone said to me last week on here they were worried about some old boy not being able to use the bar anymore and something about community but I don't see any new owner not promoting community or shutting the bar.I've heard it said that Tamplin is orange,has some towie mates and wants his kids to use our pitch on a Sunday occasionally ,I also really couldn't care about that or can I see how that effects my day at the footy either.

The only thing I do understand is that people are frightened he isn't going to pay up.Is that really likely ?? What would be the point of that ??

[Diggerthedog]

I don't get this. If I was buying your house,Id only have to satisfy you and your solicitor that I had sufficient funds to purchase it,be it cash,loan or mortgage.I wouldn't have to satisfy your neighbours your postman or anyone else not directly involved in the transaction.So my point here is why the Fark does Tamplin have to impress anyone else but the members,and furthermore if he didn't they could have abstained.

So who here on the unhappy side is a member ?

You seem very inquisitive for some-one who has made it perfectly clear he doesn't care two hoots.

Just trying to understand,thats all. Every day is a school day as they say. The subject cannot be avoided anyway its in every thread right now.
I care in as much as I'd like to still have a club to support,but I didn't really care who runs it,and I don't really know why others are so deeply engrossed in all this politics yet aint even members. Someone said to me last week on here they were worried about some old boy not being able to use the bar anymore and something about community but I don't see any new owner not promoting community or shutting the bar.I've heard it said that Tamplin is orange,has some towie mates and wants his kids to use our pitch on a Sunday occasionally ,I also really couldn't care about that or can I see how that effects my day at the footy either.

The only thing I do understand is that people are frightened he isn't going to pay up.Is that really likely ?? What would be the point of that ??

My Point about the old boy was not about the bar shutting but the whole club not being here in a few years. Like I said you come to watch the football and go home, many others have different social things involved with the club. It is not just about the 90 mins every Saturday, the club is so much more to many.

[davei]

Arnu wrote: "The only thing I do understand is that people are frightened he isn't going to pay up.Is that really likely ?? What would be the point of that ??"

Arnu, as a senior banker for many years, from experience, it is always a good idea to have a "what happens if" plan in case someone doesn't pay. And remember, security does not make payments. And with that thought, I do not know anything of Mr. Tamplin, so my question to you is, has he to the best of your knowledge, ever not paid or defaulted on any obligation he committed to..??

If the answer is no, well that has some merit. However, if the answer is yes, well, with that knowledge in your mind, would you then still turn over ownership of your house/car/assets if YOU did not have the money tied up 100%.

Adrian wrote: "The club doesn't have to produce interim financial statements. The statements that it does have to produce are so minimal that they're basically useless. No business makes financial statements available until they're officially released, so I'm not sure why there's been a suggestion that hey should have in this case".

When I wrote "Making a decision without the benefit of as current financials as possible, interim or otherwise, is foolish", regardless of whether the club has to produce financial statements or not, I would think what was written is self explanatory.

And if, as a business, D&R is not producing interim statements on a monthly basis, we ARE in trouble. Although you further write: "The statements that it does have to produce are so minimal that they're basically useless" which should give anyone with a hint of business/financial acumen cause for concern.

[Adrian]

Arnu wrote: "The only thing I do understand is that people are frightened he isn't going to pay up.Is that really likely ?? What would be the point of that ??"

Arnu, as a senior banker for many years, from experience, it is always a good idea to have a "what happens if" plan in case someone doesn't pay. And remember, security does not make payments. And with that thought, I do not know anything of Mr. Tamplin, so my question to you is, has he to the best of your knowledge, ever not paid or defaulted on any obligation he committed to..??

If the answer is no, well that has some merit. However, if the answer is yes, well, with that knowledge in your mind, would you then still turn over ownership of your house/car/assets if YOU did not have the money tied up 100%.

Adrian wrote: "The club doesn't have to produce interim financial statements. The statements that it does have to produce are so minimal that they're basically useless. No business makes financial statements available until they're officially released, so I'm not sure why there's been a suggestion that hey should have in this case".

When I wrote "Making a decision without the benefit of as current financials as possible, interim or otherwise, is foolish", regardless of whether the club has to produce financial statements or not, I would think what was written is self explanatory.

And if, as a business, D&R is not producing interim statements on a monthly basis, we ARE in trouble. Although you further write: "The statements that it does have to produce are so minimal that they're basically useless" which should give anyone with a hint of business/financial acumen cause for concern.

Sorry Dave, but businesses do not produce monthly interim statements.
The level of detail included in the financial statements produced is irrelevant.
Financial statements are for external publication.

[Auntie Merge]

Some light relief - from CODUYF fanzine, pre the merger of Dagenham FC and Redbridge Forest FC

[ARNU]

Arnu wrote: "The only thing I do understand is that people are frightened he isn't going to pay up.Is that really likely ?? What would be the point of that ??"

Arnu, as a senior banker for many years, from experience, it is always a good idea to have a "what happens if" plan in case someone doesn't pay. And remember, security does not make payments. And with that thought, I do not know anything of Mr. Tamplin, so my question to you is, has he to the best of your knowledge, ever not paid or defaulted on any obligation he committed to..??

If the answer is no, well that has some merit. However, if the answer is yes, well, with that knowledge in your mind, would you then still turn over ownership of your house/car/assets if YOU did not have the money tied up 100%.

.

Yes that's a fair point,but id have to ask what would be the point of Tamplin getting involved if he knew all along he couldn't pay ? Whats to gain ?
So tomorrow I offer Dagenham and Redbridge 3 million quid,the members like it but I cant pay. What did I gain ?

[ARNU]

Diggerthedog wrote :My Point about the old boy was not about the bar shutting but the whole club not being here in a few years. Like I said you come to watch the football and go home, many others have different social things involved with the club. It is not just about the 90 mins every Saturday, the club is so much more to many.

Yeah I get that,and I acknowledged that too.I want that don't I ?However,you didn't answer my point. No new owner will be banning the bar or any community spirit.No new owner can guarantee a future in years to come either.This current board have steered us onto some rocks,it seems to me the bar and community will disappear far quicker if we don't take new investment.Your old boy might be upset whatever happens.1200 die hards aint enough to sustain the club longterm id imagine,nothing the old regime will do will increase attendances,it is time to take this blokes money and hope he can draw some new people in even if they are orange.

[davei]

Adrian, in all my years of banking, the successful companies I did business with all produced interim in house monthly statements when they approached me for a loan. That was the very first thing I asked for and they knew I was going to ask for it, so most if not all had them on hand.

The interim's are just that, interim, and while they would not be the same as those sent to the tax department at the fiscal year end wherein all legitimate deductions/tax issues would be addressed, interims would certainly provide a glimpse of cash flows in and out up to a specific recent point in time.

Perhaps by suggesting successful companies that eliminates D&R, but as I said in an earlier post WALMART can have their complete financial info buttoned down within 24 hours (worldwide). Perhaps given their current (suggested) financial status it might be prudent for D&R to commence generating monthly interims...........

But. seriously the interims would give me a year to date analysis of where the company stood on which to make a prudent decision.

Arnu, I have an answer for you, do you have my e mail address at home...?

[Diggerthedog]

Diggerthedog wrote :My Point about the old boy was not about the bar shutting but the whole club not being here in a few years. Like I said you come to watch the football and go home, many others have different social things involved with the club. It is not just about the 90 mins every Saturday, the club is so much more to many.

Yeah I get that,and I acknowledged that too.I want that don't I ?However,you didn't answer my point. No new owner will be banning the bar or any community spirit.No new owner can guarantee a future in years to come either.This current board have steered us onto some rocks,it seems to me the bar and community will disappear far quicker if we don't take new investment.Your old boy might be upset whatever happens.1200 die hards aint enough to sustain the club longterm id imagine,nothing the old regime will do will increase attendances,it is time to take this blokes money and hope he can draw some new people in even if they are orange.

But the club can survive on such crowds it has done for 25 years it even survived on crowds of 500-600 it just has to be run the correct way in that we gets players to sell on no crappy pro's which has been the model for the last 3 years and was a complete failure by the board.

See mikes post about how were not in the shit as much as the Curent board are making out. We're more likely to survive as we are if we cut our cloth accordingly then chucking a load of money at things for short term gain.

I have hear all these nonsense plans about league one in three years, what if we're not out the conference in that time what are the long term plans? There is no bottomless pot of money, were talking about small time business man not a sheik or Russian oligarch.

[Adrian]

Adrian, in all my years of banking, the successful companies I did business with all produced interim in house monthly statements when they approached me for a loan. That was the very first thing I asked for and they knew I was going to ask for it, so most if not all had them on hand.

The interim's are just that, interim, and while they would not be the same as those sent to the tax department at the fiscal year end wherein all legitimate deductions/tax issues would be addressed, interims would certainly provide a glimpse of cash flows in and out up to a specific recent point in time.

Perhaps by suggesting successful companies that eliminates D&R, but as I said in an earlier post WALMART can have their complete financial info buttoned down within 24 hours (worldwide). Perhaps given their current (suggested) financial status it might be prudent for D&R to commence generating monthly interims...........

But. seriously the interims would give me a year to date analysis of where the company stood on which to make a prudent decision.

Arnu, I have an answer for you, do you have my e mail address at home...?

They produced monthly management accounts, not monthly interim financial statements.
There is a difference.