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Originally Posted by bdc
Without going to far into the accounts discussion Cashy is correct in what he is saying, Pierce will not produce a set of accounts unless they are fully happy with everything they have seen. I would imagine they will need to go back a good few years to make sure that everything previous that has been reported actually stacks up. I dont know if the accounts will have been independently audited therefore this may be part of the issue as well ie, not being signed off properly previously.
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The accounts for the year ended 31st May 2008 were signed off by Accountants, accepted by the Directors and submitted to Companies House earlier this year, so I cannot understand why the opening balances for year ended 31st May 2009 are in doubt.
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There is also the fact there was no control over cashflow which helped to contribute the winding up order so if they had the information available they would've realised that they owed £300k in tax
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I think that the money owed to the taxman was a result of an Inland Revenue audit that was carried out and as the Club didn't have the necessary records for payroll, etc. the amount was an assessment of around £500k.