News update

[Wellsie]

In this news update you can find out about the resolution to the HMRC petition, an update on the issuing of share certificates and why MISA were “highly commended”.

 

www,margate-fc.com

[freefred]

Being a bit thick but does that mean that the Tax Bill is finally paid in full now?

[BlueGate Alan]

Yes Fred. Well done to all and that has answered GT's query now too.

 

Well done to MISA too, especially Tam who puts in a lot of hours at the club.

[Cookie]

Just to clear this up.

 

"Impacted & working to rectify".

 

Does this mean we now only have a "current" bill to pay as opposed to outstanding amounts from previous years?

Have we caught up, so to speak, but in doing so have had to hold back on the current/ latest/ up-to-date payment?

[Coffin Ender]

Benjamin Franklin: "Nothing is certain in this life except death and taxes."

[BlueGate Alan]

I think that assumption is probably spot on Cookie, we have cleared the arrears that were owing from the court case IMO.

[Cookie]

Orrrr, what no more MFC v VAT games then? A few more heads through that gate tomorrow then, as the manager requests, to both help clear the up-to-date payment then AND to give the players a better chance of success on the day.

 

 

Target 500

[BlueGate Alan]

Yea I did think that Cookie, but I doubt he will change it. Am guessing we are like most clubs now paying the bills as late as we can.

[BlueGate Alan]

I know Wealdstone have two coaches coming down, so must be at least a coachful of away fans.

[Wellsie]

Just to clear this up.

 

"Impacted & working to rectify".

 

Does this mean we now only have a "current" bill to pay as opposed to outstanding amounts from previous years?

Have we caught up, so to speak, but in doing so have had to hold back on the current/ latest/ up-to-date payment?

 

Of courese a lack of home games and therefore matchday revenue since October 3rd hasn't helped the situation.

[BlueGate Alan]

Spot on Wellsie, I believe the Board of Directors should be commended on what they have now achieved.

[Cookie]

I agree, they have worked wonders .

[michael]

Just to clear this up.

 

"Impacted & working to rectify".

 

Does this mean we now only have a "current" bill to pay as opposed to outstanding amounts from previous years?

Have we caught up, so to speak, but in doing so have had to hold back on the current/ latest/ up-to-date payment?

 

 

I think i share your possible concerns here Cookie.

 

Similarly to most-i believe the Board have done well to clear the previos HRMC liability.

 

Unfortunately the cash flow pressure on the Board must be relentless;and is the active message in this statement is to 'prepare us' for a bit more bad news on the financial front ?.

 

Is the implication, that there is a new writ about to hit; as maybe to settle the previos liability, more recent HRMC payments have been missed and thus there is yet another new writ about to hit ?

 

No-ones fault-its very tough times-and as above ,one has to have sympathy with the board and wish one could help more.

Am i justified in having this horrible feeling that we are not out of the woods with HRMC -yet alone making inroads into the softer loans in excess of £250K ?

 

I wish the current board every success in getting through what are very difficult times for them i am sure

[Wellsie]

Unfortunately the cash flow pressure on the Board must be relentless;and is the active message in this statement is to 'prepare us' for a bit more bad news on the financial front ?.

 

I think you're reading too much into this other than to say the cash flow implications of not having home games plus the effort in paying of the petition debt means we still need to be careful. Perhaps additional investment in the squad will be delayed but I don't pick up anything more than that - at least from what I understand.

[michael]

Thanks for the 'unofficial' re-assurance.

 

I hope you are right.

[Wellsie]

No problem. And thanks to you for understanding the nature of my reassurance.

 

Linked to the subject, there is an increasing amount of commercial activity going on behind the scenes which of course will all help.