News Update

[Guernsey Tom]

Must be right then ?

[Jake]

Because it says on our website we offered half the amount which I would say is around 27K?

[Guernsey Tom]

Thats the trouble we only seem to get some of the facts,

[seasidesteve]

we get none of the facts and never will

[Bigmacca]

Originally Posted By: Margate Football Club

Despite managing to raise over half the money required to settle the debt to HMRC

that is how you get 27k Guernsy

[blue balls]

So the agony is prolonged. As SSS says how on earth are we going to attract any new players let alone keep the best ones that we have. Cue exits for Wilson,Stubbs et al. We should have been in a position to clear all the debt today - we have had more than 9 lives on this and HMRC have been more than lenient imo!

[Cyclops]

I wish you all the best but I think you need some tighter controls on your finances. Unlike Inland Revenue or Customs & Excise, HMRC is no longer a "preferential creditor" and will not roll over like the Depts which merged to form it used to do.

 

In the "good old days" IR and HMC&E could, as a preferential creditor, get 100p/pound along with all the football creditors even when everyone else got diddley squat. Since the introduction of the Enterprise Act that is no longer the case. If you can't pay your football creditors 100p/pound the FA will come down on you like a ton of bricks, and if HMRC can't get what it feels happy with it will, if it can, de-rail any attempt to set up an arrangement which pays football creditors 100p/pound while leaving HMRC with less. And that is why Boston Utd fell so far so quickly.

 

Petitions have been presented to wind up Margate FC four times in just over ten years, according to the London Gazette. The first two were by Inland Revenue and HMC&E. The last two were both presented by the merged organisation, HMRC and these were both within the last 12 months. This suggests that your organisation is going to have to do something to put its finances on a proper footing if you get out of the latest problem. HMRC won't go away like IR and HMC&E used to.

 

Anyway, good luck.

 

Phil.

[geoff pay]

Two directors as far as I know.

[Brooks]

They should be banned from paying any wages until the debts are fully settled

[Cyclops]

Brooks, if they don't pay wages to football players then the FA will come down on the club like a ton of bricks. Footballers owed wages are "football creditors".

 

If they don't pay wages to people who work in the bar/social club then there will be no way to use that to make a bit of money to repay part of the bill.

 

I don't suppose there will be any other people owed wages but if there are and they are "football creditors" then those wages have to be paid or the FA will not be kind to Margate FC.

 

It is a bit of a vicious circle but something needs to be done in order to get things straight for the future. One thing which seems to be true though is that you can't expect HMRC to wait for its money any more so you will have to find someone else not to pay. In the past clubs have asked creditors to forego their payments in return for advertising in the matchday programme or around the ground but if HMRC wind you up you can't even use that to reduce the number of creditors because there will be no more matchday programmes or games for your pitch-side advertising to be seen.

 

Anyway, good luck in 12 weeks' time.

 

Phil.

[Boney Crisp]

We as supporters need to play apart by turning up to games, including all pre-season games. I don't care if pre-season means nothing and i know people see them as a waste of time and money, but if you love the club enough then you would turn up to stop it going out of business. It will be great if the club could get some fund raising events going, that along with the fantastic job MISA do will help a great deal and then if the director's are passionate enough find the rest of the money to keep us going. It won't be easy, but it's possible if we start tomorrow.

 

We are down but we are certainly not out

[Ian_Sanderson]

Edited as Sarky again, does he never learn!!!!

[Coffin Ender]

Alex, 100 supporters buy season tickets and you have

[Ian_Sanderson]

He still isn't learning is he

[GEEBEE]

i suppose so you twat you will have to ask the mods ?

[BlueGate Alan]

[Boney Crisp]

Originally Posted By: Coffin Ender

Alex, 100 supporters buy season tickets and you have

[P.W.]

Isn't the problem the fact that the same people are having to be asked to find the money?

 

If we had 100 new season ticket holders this season, that's probably replacing 100 regular admissions on the turnstiles.

 

If you have a sponsored walk (as the Red Side do) the participants and sponsors are virtually the same as those who come through the turnstiles.

 

The real answer is to find 'new money' from an untapped source, because the regular supporters (the 'old money')don't have bottomless pockets.

[JeremyJacobs]

post-Piper we will

[dannyriding]

tch tch tch tch tch tch tch........ sounds like the record has stuck again.