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lappinitup

Our Finances according to TWTD

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"I know something you probably don''t. Good friend of mine is Steve Stone. you are actually in a worse position than we were before administration. Be afraid be VERY afraid".Yeah, right!"Ipswich are hoping to raise between £4 million and £5 million this

summer as the stricken East Anglian club, currently in administration,

attempt to get out of the worst financial crisis in their history."
http://www.telegraph.co.uk/sport/2399439/Ipswich-struggle-to-explain-crisis.htmlAnd when they came out of administration they ran up another £44m worth of debt. Then Evans arrived and sorted it but the debt stands now at around £90m.All part of their ''glorious history''. [:)]

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[quote user="SwindonCanary"]11 Apr 2003 ![/quote]That''s what he said......."worse position than we were before administration "  Which was 11 Apr 2003.Wishful thinking.

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Whilst everything isn''t rosey in our finances, we are on track and the sale of Pritchard alleviated any concerns financially to carry us into next season. Obviously I hope we don''t sell Maddison, but we are at least in a position where we don''t HAVE to sell him

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The article states......Ipswich, however, do not own their ground. It is leased from the council

and the value shown in the accounts is of the long lease. Finbow

admitted: "If we owned the freehold we could just flog it to someone,

but we cannot."Let''s hope Steve Stone reads that piece if he did make that comment.And how do our accounts compare with this bearing in mind the date....." What makes it worse at Ipswich is that they do not have any real assets.

The accounts for June 30 2002 show two major fixed assets: tangible

assets such as land, buildings, computers, cars, fixtures and fittings

worth £34.9 million and players bought by the club worth £14.3 million."  So if they valued their club at £50m then, what is ours worth today?

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If Stone is conveying that message to Binner acquaintances he needs somebody to have a serious word with him.

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The accounts are published every year. As such, the accounts are in the public domain, and I am sure any possibility of administration would have to be reported.

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[quote user="TIL 1010"]If Stone is conveying that message to Binner acquaintances he needs somebody to have a serious word with him.[/quote]
Kind of feel like it''s obviously painfully untrue.

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[quote user="Duncan Edwards"]I vote for you Tilly, you tell him.[/quote]If he is in a team at the NCFSC quiz next week i will get my chance and if the boy Tom is there as well looks like i might get two for the price of one. Of course i could just boo him.

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I wonder if Ed the Binner will be there this time?

You know, she played the fiddle with her creditors and

Fell out of love with the old tax man

Marcus kissed her on the neck then took her by the hand

Said, "Baby, I just want to prance"

With my pretty little Orwell Girl

You''re my pretty little Orwell Girl

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[quote user="FCC"]The accounts are published every year. As such, the accounts are in the public domain, and I am sure any possibility of administration would have to be reported.[/quote]The directors have a duty to report in the accounts any danger of the club not being a going concern. As far as I can remember the only time they had anything serious to say on those lines was back in 2009, because of the difficulty of paying down the debt, and even then the statement - correctly as it happens - indicated the likelihood of any danger being averted.The latest accounts stated they were drawn up on the basis that the club was and is a going concern. That Stone might endanger his career and go against the rules of corporate governance by not alerting shareholders to the fact that the club was in danger of administration or even liquidation but then spill the beans to an Ipswich Town fan strikes me as implausible.

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You can always rely on Purple to come up trumps on finances!

And I find it flattering that they are so interested in our club. Clutching at straws that we end up in a worse position than them!

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Contingent liabilities don''t necessarily mean that much, believe me, I''ve prepared some in my time. The key word is ''contingent'' in that they are possible, not that they will happen.

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[quote user="Donkey dangler"]Theres the Going Concern statement and then theres the Contingent Liabilities note in the Annual Report.

Have a read.[/quote]What are you trying to say Tangy?

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In Tangy''s post he suggests that you go and have a read of the relevant note on contingent liabilities and the going concern statement. I think what he means is - go have a read.

I do hope we are not goung to revisit the they that know know and those that don''t don''t scenario again. Perhaps you can ask the club to see Steve Stone''s contract! 😊

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[quote user="Crafty Canary"]In Tangy''s post he suggests that you go and have a read of the relevant note on contingent liabilities and the going concern statement. I think what he means is - go have a read.I do hope we are not goung to revisit the they that know know and those that don''t don''t scenario again. Perhaps you can ask the club to see Steve Stone''s contract! 😊[/quote]What, read them again? Have they been surreptitiously altered since we all read them the first time when the accounts came out? One might have known they would play dirty. This is what comes of having a Maoist for a chairman and a chicken farmer for a deputy chairman. Himmler was a chicken farmer...

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Who put salt in the sugar bowl? Who put fireworks in the coal? Who put a whole live toad-in-the-'' ole?......

Who told grandma it was me ?

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