Accounts Overdue Window - 2017

[TANGODANCER]

What exactly is going on at the top in the club. Ken Anderson is saying in the B.N that he had to sell Zach Clough because of the financial state of the club and hotel - which most folk knew, and that Dean Holdswoth refused last week to cough up any funds to help. This is our two owners behaving like enemies, surely, and how does it bode other than ill for the club's future?

[Abdoulaye's Twin]

What exactly is going on at the top in the club. Ken Anderson is saying in the B.N that he had to sell Zach Clough because of the financial state of the club and hotel - which most folk knew, and that Dean Holdswoth refused last week to cough up any funds to help. This is our two owners behaving like enemies, surely, and how does it bode other than ill for the lub's future?

Deano used a pay day loan to part buy the club. Likely doesn't have any meaningful amount of money to add to the pot. Ken appears to have some, but limited, funds. Deano can't put more money in as he likely doesn't have it. Ken making sure he's seen as the hero . Club is still fcuked and until pay day loan sorted will remain so. Ken thinks pay day loan will take years of litigation to sort. Not his fault, Deano's loan so his fault.

More or less that..

[TANGODANCER]

What exactly is going on at the top in the club. Ken Anderson is saying in the B.N that he had to sell Zach Clough because of the financial state of the club and hotel - which most folk knew, and that Dean Holdswoth refused last week to cough up any funds to help. This is our two owners behaving like enemies, surely, and how does it bode other than ill for the lub's future?

Deano used a pay day loan to part buy the club. Likely doesn't have any meaningful amount of money to add to the pot. Ken appears to have some, but limited, funds. Deano can't put more money in as he likely doesn't have it. Ken making sure he's seen as the hero . Club is still fcuked and until pay day loan sorted will remain so. Ken thinks pay day loan will take years of litigation to sort. Not his fault, Deano's loan so his fault.

More or less that..

Thanks for the clarification A.T. All, in all, a right royal xxxx up then.

[Abdoulaye's Twin]

What exactly is going on at the top in the club. Ken Anderson is saying in the B.N that he had to sell Zach Clough because of the financial state of the club and hotel - which most folk knew, and that Dean Holdswoth refused last week to cough up any funds to help. This is our two owners behaving like enemies, surely, and how does it bode other than ill for the lub's future?

Deano used a pay day loan to part buy the club. Likely doesn't have any meaningful amount of money to add to the pot. Ken appears to have some, but limited, funds. Deano can't put more money in as he likely doesn't have it. Ken making sure he's seen as the hero . Club is still fcuked and until pay day loan sorted will remain so. Ken thinks pay day loan will take years of litigation to sort. Not his fault, Deano's loan so his fault.

More or less that..

Thanks for the clarification A.T. All, in all, a right royal xxxx up then.

It's what appears to be happening, though only Ken and Deano really know. I understand Deano has other things on his mind (understandably) as his daughter has been very ill. Might explain his recent silence, as would TB's legal advice assertion. I fully expect the mess to take years to be resolved and just remain thankful we still have a club to talk about.

[Worthy4England]

What exactly is going on at the top in the club. Ken Anderson is saying in the B.N that he had to sell Zach Clough because of the financial state of the club and hotel - which most folk knew, and that Dean Holdswoth refused last week to cough up any funds to help. This is our two owners behaving like enemies, surely, and how does it bode other than ill for the lub's future?

Deano used a pay day loan to part buy the club. Likely doesn't have any meaningful amount of money to add to the pot. Ken appears to have some, but limited, funds. Deano can't put more money in as he likely doesn't have it. Ken making sure he's seen as the hero . Club is still fcuked and until pay day loan sorted will remain so. Ken thinks pay day loan will take years of litigation to sort. Not his fault, Deano's loan so his fault.

More or less that..

That's been my reading of the situation, however we're only hearing one side. Is Deano's silence a sign of guilt, or is it pragmatism under his lawyer's advice in case it does go to court whilst KA does himself no favours? Time will tell I guess.

I'm just happy there's still a club to support for the time being, even if we've only gone from being an omnishambles to just a shambles.

It's a little more than a "reading of the situation" - the Charge is filed on Companies House for Blumarble. If I'm reading it correctly, the Agreement is between Burnden Leisure and Blumarble, but the Facility Agreement is between Sports Shield BWFC Ltd and Blumarble. Sports Shield BWFC Ltd has one officer, Deano as sole Director.

So if my understanding is correct, Deano can borrow whatever limit he agreed through Sports Shield BWFC Ltd, secured against any inscope assets held by Burnden Leisure. Anderson as far as I'm aware has little or no control or input into it.

[Peter Thompson]

What exactly is going on at the top in the club. Ken Anderson is saying in the B.N that he had to sell Zach Clough because of the financial state of the club and hotel - which most folk knew, and that Dean Holdswoth refused last week to cough up any funds to help. This is our two owners behaving like enemies, surely, and how does it bode other than ill for the lub's future?

Deano used a pay day loan to part buy the club. Likely doesn't have any meaningful amount of money to add to the pot. Ken appears to have some, but limited, funds. Deano can't put more money in as he likely doesn't have it. Ken making sure he's seen as the hero . Club is still fcuked and until pay day loan sorted will remain so. Ken thinks pay day loan will take years of litigation to sort. Not his fault, Deano's loan so his fault.

More or less that..

Totally agree - I can't see how this can be anyone's fault other than Dean Holdsworth's

[Prufrock]

Doesn't sound like the most prudent deal ever on Deano's behalf; however, from memory of the whole "right-down-to-the-wire" sitch, I'm not sure there'd still be a club if it wasn't for Deano's last minute fix?

[BWFC_Insane]

What exactly is going on at the top in the club. Ken Anderson is saying in the B.N that he had to sell Zach Clough because of the financial state of the club and hotel - which most folk knew, and that Dean Holdswoth refused last week to cough up any funds to help. This is our two owners behaving like enemies, surely, and how does it bode other than ill for the lub's future?

Deano used a pay day loan to part buy the club. Likely doesn't have any meaningful amount of money to add to the pot. Ken appears to have some, but limited, funds. Deano can't put more money in as he likely doesn't have it. Ken making sure he's seen as the hero . Club is still fcuked and until pay day loan sorted will remain so. Ken thinks pay day loan will take years of litigation to sort. Not his fault, Deano's loan so his fault.

More or less that..

Totally agree - I can't see how this can be anyone's fault other than Dean Holdsworth's

I believe Deano will keep quiet. However his version will be that he and Ken took over the club on a 50:50 basis and had to show that between them they could sustain the club till the end of the season. They had to show funds were in place.

Dean's funding came from the £5.5M loan made available.

That loan has been spent covering the wage bill.

The question now is what has happened to the other half of the funding promised. Has Ken put it in? If so why have we had to sell Clough.

It may be that the required costs were far higher than anticipated. However, we have no idea whether this is the case or if Ken is playing hard and fast with the truth as to his end of the deal.

[BWFC_Insane]

What exactly is going on at the top in the club. Ken Anderson is saying in the B.N that he had to sell Zach Clough because of the financial state of the club and hotel - which most folk knew, and that Dean Holdswoth refused last week to cough up any funds to help. This is our two owners behaving like enemies, surely, and how does it bode other than ill for the lub's future?

Deano used a pay day loan to part buy the club. Likely doesn't have any meaningful amount of money to add to the pot. Ken appears to have some, but limited, funds. Deano can't put more money in as he likely doesn't have it. Ken making sure he's seen as the hero . Club is still fcuked and until pay day loan sorted will remain so. Ken thinks pay day loan will take years of litigation to sort. Not his fault, Deano's loan so his fault.

More or less that..

That's been my reading of the situation, however we're only hearing one side. Is Deano's silence a sign of guilt, or is it pragmatism under his lawyer's advice in case it does go to court whilst KA does himself no favours? Time will tell I guess.

I'm just happy there's still a club to support for the time being, even if we've only gone from being an omnishambles to just a shambles.

It's a little more than a "reading of the situation" - the Charge is filed on Companies House for Blumarble. If I'm reading it correctly, the Agreement is between Burnden Leisure and Blumarble, but the Facility Agreement is between Sports Shield BWFC Ltd and Blumarble. Sports Shield BWFC Ltd has one officer, Deano as sole Director.

So if my understanding is correct, Deano can borrow whatever limit he agreed through Sports Shield BWFC Ltd, secured against any inscope assets held by Burnden Leisure. Anderson as far as I'm aware has little or no control or input into it.

Can't wait to see what those "post balance sheet events" are that Ken says he will explain. Clearly something there he feels will concern people. Worthy we're all relying on you!

[Peter Thompson]

What exactly is going on at the top in the club. Ken Anderson is saying in the B.N that he had to sell Zach Clough because of the financial state of the club and hotel - which most folk knew, and that Dean Holdswoth refused last week to cough up any funds to help. This is our two owners behaving like enemies, surely, and how does it bode other than ill for the lub's future?

Deano used a pay day loan to part buy the club. Likely doesn't have any meaningful amount of money to add to the pot. Ken appears to have some, but limited, funds. Deano can't put more money in as he likely doesn't have it. Ken making sure he's seen as the hero . Club is still fcuked and until pay day loan sorted will remain so. Ken thinks pay day loan will take years of litigation to sort. Not his fault, Deano's loan so his fault.

More or less that..

Totally agree - I can't see how this can be anyone's fault other than Dean Holdsworth's

I believe Deano will keep quiet. However his version will be that he and Ken took over the club on a 50:50 basis and had to show that between them they could sustain the club till the end of the season. They had to show funds were in place.

Dean's funding came from the £5.5M loan made available.

That loan has been spent covering the wage bill.

The question now is what has happened to the other half of the funding promised. Has Ken put it in? If so why have we had to sell Clough.

It may be that the required costs were far higher than anticipated. However, we have no idea whether this is the case or if Ken is playing hard and fast with the truth as to his end of the deal.

Has Holdsworth paid any of this loan back out his own pocket ? - if not (as most suspect) he's actually not put a penny of his own money into the club. KA has apparently paid the £800k a month the club required to stay afloat over the past few months - so at least around £1.6M, which is highly likely £1.6M more than Dean Holdsworth has put into the club

[Worthy4England]

What exactly is going on at the top in the club. Ken Anderson is saying in the B.N that he had to sell Zach Clough because of the financial state of the club and hotel - which most folk knew, and that Dean Holdswoth refused last week to cough up any funds to help. This is our two owners behaving like enemies, surely, and how does it bode other than ill for the lub's future?

Deano used a pay day loan to part buy the club. Likely doesn't have any meaningful amount of money to add to the pot. Ken appears to have some, but limited, funds. Deano can't put more money in as he likely doesn't have it. Ken making sure he's seen as the hero . Club is still fcuked and until pay day loan sorted will remain so. Ken thinks pay day loan will take years of litigation to sort. Not his fault, Deano's loan so his fault.

More or less that..

That's been my reading of the situation, however we're only hearing one side. Is Deano's silence a sign of guilt, or is it pragmatism under his lawyer's advice in case it does go to court whilst KA does himself no favours? Time will tell I guess.

I'm just happy there's still a club to support for the time being, even if we've only gone from being an omnishambles to just a shambles.

It's a little more than a "reading of the situation" - the Charge is filed on Companies House for Blumarble. If I'm reading it correctly, the Agreement is between Burnden Leisure and Blumarble, but the Facility Agreement is between Sports Shield BWFC Ltd and Blumarble. Sports Shield BWFC Ltd has one officer, Deano as sole Director.

So if my understanding is correct, Deano can borrow whatever limit he agreed through Sports Shield BWFC Ltd, secured against any inscope assets held by Burnden Leisure. Anderson as far as I'm aware has little or no control or input into it.

Can't wait to see what those "post balance sheet events" are that Ken says he will explain. Clearly something there he feels will concern people. Worthy we're all relying on you!

They should be in a neat section of the Accounts entitled "Subsequent Events" or some such.

The last set covered

Post submission player registrations (circa £2m in and £2m out)
Transfer of Moonshift Loan to Fildraw
Loan from Brett Warby to Burnden Leisure for £2.5m
Sale and Leaseback of Car Park to Prescott Business Parks for £5.5m

[BWFC_Insane]

What exactly is going on at the top in the club. Ken Anderson is saying in the B.N that he had to sell Zach Clough because of the financial state of the club and hotel - which most folk knew, and that Dean Holdswoth refused last week to cough up any funds to help. This is our two owners behaving like enemies, surely, and how does it bode other than ill for the lub's future?

Deano used a pay day loan to part buy the club. Likely doesn't have any meaningful amount of money to add to the pot. Ken appears to have some, but limited, funds. Deano can't put more money in as he likely doesn't have it. Ken making sure he's seen as the hero . Club is still fcuked and until pay day loan sorted will remain so. Ken thinks pay day loan will take years of litigation to sort. Not his fault, Deano's loan so his fault.

More or less that..

Totally agree - I can't see how this can be anyone's fault other than Dean Holdsworth's

I believe Deano will keep quiet. However his version will be that he and Ken took over the club on a 50:50 basis and had to show that between them they could sustain the club till the end of the season. They had to show funds were in place.

Dean's funding came from the £5.5M loan made available.

That loan has been spent covering the wage bill.

The question now is what has happened to the other half of the funding promised. Has Ken put it in? If so why have we had to sell Clough.

It may be that the required costs were far higher than anticipated. However, we have no idea whether this is the case or if Ken is playing hard and fast with the truth as to his end of the deal.

Has Holdsworth paid any of this loan back out his own pocket ? - if not (as most suspect) he's actually not put a penny of his own money into the club. KA has apparently paid the £800k a month the club required to stay afloat over the past few months - so at least around £1.6M, which is highly likely £1.6M more than Dean Holdsworth has put into the club

Possibly. We actually don't know who has put what in. I'm not sure the point is whether it is their own money or not. They had to make funds available somehow. As far as we know, DH did his bit. We don't actually know if KA has done his.

We know what KA has said. But I'd question if he was stumping up half, why we now have to sell players.

All will come out in the wash no doubt. I'm generally thankful for what Ken has done. But I'd just caution all this with, two sides to every story. And the fact that Ken clearly has already been liberal with the truth.

[Peter Thompson]

Possibly. We actually don't know who has put what in. I'm not sure the point is whether it is their own money or not. They had to make funds available somehow. As far as we know, DH did his bit. We don't actually know if KA has done his.

We know what KA has said. But I'd question if he was stumping up half, why we now have to sell players.

All will come out in the wash no doubt. I'm generally thankful for what Ken has done. But I'd just caution all this with, two sides to every story. And the fact that Ken clearly has already been liberal with the truth.

So let me get this right, your saying by DH doing his bit you mean getting a £5.5M Blumarble loan, secured against club assets but to be paid back by the club not DH

So by the same token you would have been happy or are still happy for KA to put the same £5.5M in by borrowing from QuickQuid, again secured against club assets and again to be paid back by the club not KA

[BWFC_Insane]

Possibly. We actually don't know who has put what in. I'm not sure the point is whether it is their own money or not. They had to make funds available somehow. As far as we know, DH did his bit. We don't actually know if KA has done his.

We know what KA has said. But I'd question if he was stumping up half, why we now have to sell players.

All will come out in the wash no doubt. I'm generally thankful for what Ken has done. But I'd just caution all this with, two sides to every story. And the fact that Ken clearly has already been liberal with the truth.

So let me get this right, your saying by DH doing his bit you mean getting a £5.5M Blumarble loan, secured against club assets but to be paid back by the club not DH

So by the same token you would have been happy or are still happy for KA to put the same £5.5M in by borrowing from QuickQuid, again secured against club assets and again to be paid back by the club not KA

I mean that was the deal they signed up to. Fact is we don't ever know where the cash comes from in reality.

[Abdoulaye's Twin]

So let me get this right, your saying by DH doing his bit you mean getting a £5.5M Blumarble loan, secured against club assets but to be paid back by the club not DH

So by the same token you would have been happy or are still happy for KA to put the same £5.5M in by borrowing from QuickQuid, again secured against club assets and again to be paid back by the club not KA

This is often how football clubs are bought these days. See Man U, Liverpool et al. It's shit I know. I'm fairly confident that Ken isn't risking significant amounts of his own in, say what you like about him but he's not stupid.

[BWFC_Insane]

Companies house are processing the accounts. Available in 5 days. So says their website.

[Worthy4England]

Companies house are processing the accounts. Available in 5 days. So says their website.

Good news is, only 50 days until the next set are due...

[jmjhb]

They are out now. Check Ken's latest diatribe/announcement on official site.

[BWFC_Insane]

Had a very quick flick through.

Very last line states that there is an ongoing dispute as to what % of shares Dean and Ken each own. So that's good. Just to add to the rest of the shitstorm.

Brilliant that in the set of published accounts there is a dispute over club ownership.

Edit: They are also disputing the legality of the option on the loan from Blumarble and Dean Holdsworth's "termination" from his Director of Football role.

Ken has stuck £3.5M in as interest free short term loans. But has had it all paid back.

£11M loss. Tallies with what we'd heard previously.

[jimbo]

Wow. This is escalating quickly. Seems like both sides have abandoned tact and professionalism and are just going to slug it out til the end