Financial update

Match day discussion, transfers, and all things Accies

Financial update

Postby TerracingTomas » Thu Apr 02, 2020 1:26 pm

The accounts for 3 of the 4 companies associated with Accies for the latest financial year are now available online at companies house. Viz.Edencrest the ultimate holding company of the club and stadium, Deeka and the Stadium company itself. The football clubs' accounts haven't been submitted yet and going by last time it will be the turn of the year before they are available. Plus the accounts for the Community Trust are still overdue and the trust has reached day 92 of being in default. Without the club and trusts’ accounts its impossible to get any real idea of how the whole lot is doing and even with their accounts as usual its not comprehensive.

https://beta.companieshouse.gov.uk/comp ... ng-history
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Re: Financial update

Postby porcupine » Thu Apr 02, 2020 2:44 pm

As always, all smoke and mirrors within a snake of companies so imposible to know whether Accies are debt free or not.
Charity should be outwith that surely and on a stand alone basis?

Interesting that Livingston recorded a £367,530 profit for the year ending June 2019 with all staff currently guaranteed wages.
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Re: Financial update

Postby TerracingTomas » Thu Apr 02, 2020 4:21 pm

Technically your correct about the charity Porcupine but it’s the vehicle for funding the Youth Academy which is integral to the way the football club is run. The major funding sources for the Academy are from the SFA and the Big Lottery and those monies go through the charity and one of the charity’s major outgoings is towards the youth coaches and physio’s salaries. And as you pointed out the charity’s last published accounts show it took a 6 figure hit for the scam.
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Re: Financial update

Postby Stodmeister » Fri Apr 03, 2020 12:25 pm

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Re: Financial update

Postby TerracingTomas » Fri Apr 03, 2020 2:42 pm

If you want an even more interesting read have a look at Foys page at company house and what their directors are involved in. ;)
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Re: Financial update

Postby porcupine » Fri Apr 03, 2020 3:27 pm



OK, Stod & TT, let's speculate on how all the companies are interlinked.

HAWKHEAD DEVELOPMENTS LTD.
From looking at the accounts, looks like something to do with the football club with the registered address being NDP.

Fixed Assets of £576298 with no depreciation in 2017 or 2018. (2019 accounts unlikely to be seen before November 2020). Over half a million pounds of credtors dropping only by £20050 in a year.

But what does the company actually do?

CARNEGIE INTERNATIONAL IMPORTS & EXPORTS LTD

A Dormant company for some time which "acts as an agent for a person"

HAMILTON ACADEMICAL FOOTBALL CLUB LIMITED

The day to day operations of Hamilton Accies. Latest accounts are June 2018. The season end accounts are shown as submitted to Companies House normally around March/April/May following year but 2018's accounts submitted earlier on January 2019. Given that this is now April 2020, should wenot expect to see the 2019 accounts very soon??

HAFC STADIUM LIMITED

Looks like the owner of the actual stadium over which Allied Irish Bank have a Standard Seciurity & a Floating Charge. Accounts, as TT originall stated, are as up to date as possible. Big Bank Loans of over £2.5m??? Some similar repeated exact figures from year to year. Quite unusual?

EDENCREST LIMITED

3 directors. Is this one of the companies that own HAFC STADIUM LTD or should that be HAMILTON ACADEMICAL FOOTBALL CLUB LIMITED?

DEEKA LIMITED
Has only one registered director. 2019 Accounts sow exactly the same figures as the previous year 2018. Is this also one of the companies that own HAFC STADIUM LTD or should that be HAMILTON ACADEMICAL FOOTBALL CLUB LIMITED?

or does DEEKA LIMITED own EDENCREST LIMITED who then own HAFC STADIUM LTD &/or HAMILTON ACADEMICAL FOOTBALL CLUB LIMITED?

or does EDENCREST LIMITED own DEEKA LIMITED who then own HAFC STADIUM LTD &/or HAMILTON ACADEMICAL FOOTBALL CLUB LIMITED?

Are there some real taxation advantages in there somewhere?? :roll: :roll: :roll:
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Re: Financial update

Postby porcupine » Fri Apr 03, 2020 3:33 pm

TerracingTomas wrote:If you want an even more interesting read have a look at Foys page at company house and what their directors are involved in. ;)



Thought there was only one type of 'Human' ???:D

Now I see there's "Other Human Health Activities ". What, like Zombies/ Frankenstein et all??

PLease explain further, TT :o
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Re: Financial update

Postby porcupine » Fri Apr 03, 2020 3:37 pm

Sure we've covered this before, TT, but is FOYS not the current major stadium sponsor of Accies, even although this is company was only registered on 23 April 2018 and has NO accounts in which to see it's deep pockets??
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Re: Financial update

Postby TerracingTomas » Sat Apr 04, 2020 11:48 am

When Foys were announced as the stadium sponsors in a deal worth 750k over they were still operating as a ‘dormant’ company. For the uninitiated that means they intended to trade in the future but for the time being the company is dormant and so doesnt have to pay tax. It may be since then they have all of a sudden started turning over thousands. Of course we were also told they were part of the apparently much larger operation WSA Holdings. Same 2 directors and no published evidence of any financial assets. The likelihood of the club seeing a 750k return on this deal is remote. As part of the deal the company was going to create 20 jobs in the area, build a wellness clinic beside the stadium , a new TV gantry and an indoor press studio. Well they do have another 4 years of the 5 year deal to accomplish this so fingers crossed :oops: Mind you our previous dealings with superseal, nevis home improvements and scotia aide sierra leone don’t fill me with confidence.
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Re: Financial update

Postby TerracingTomas » Wed May 27, 2020 12:47 pm

The latest set of accounts for the football club for the financial year upto June 19 are now available at Companies House.

https://beta.companieshouse.gov.uk/comp ... ng-history

Warning. Dont try and make sense of them without looking at the Accounts for the other associated companies Edencrest, Deeka and the stadium company. I also note that the Accies Community trust has still not filed accounts with the charity regulator. Aside from the statutory 9 months that a charity has to file approved accounts they then get a further 75 days. The trust has now passed the 9 momths by 147 days!!! Cant use Coronnavirus as an excuse as accountants are still working so hopefully we are not going to see more bad headlines.
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