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Re: Walton & Hersham

By Justin Sider4/5/2023 12:06Thu May 4 12:06:52 2023In response to Re: Walton & Hersham

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Just the observations from an idiot reading companies house accounts here. Would be nice to hear from accountants/more intelligent people than me to see what they think might be going on here. Is Korky right? Is it just incompetence and the burying of heads in the sand?

Companies house accounts for period up to May 2017 (last season at Kingsmeadow) shows there being current assets of £21,287, current liabilities of £13,515 and non-current liabilities of £132,123. The non-current liabilities are £45,976 to Malcolm Winwright (down from £67,808 in 2015), £24,469 to John Fenwick (down from £33,205 in 2015 and £61,678 owed to Anderson Travel Limited (down from £63,510 in 2016).

The accounts on companies house for the next season up to May 2018 (Leatherhead groundshare and Dynan's extraordinary amount of players used) show current assets shooting up to £189,975 and accrued income of £800,236. Mysteriously non-current liabilities have shot up as well from the £132,123 of directors loans to over £1million (£1,097054). I would love to know what this figure includes to have risen by such a huge amount. Any accountants here that can have a guess?

The amount of Womble money received was £1,220,000 (£80,500 in compensation, £69,500 donation, £1,000,000 further donation and a further donation of £70,000 for a late payment) according the the Womble accounts. Current assets and accrued income only add up to £990,211 leaving a difference of £229,789 on there. Is this the amount ringfenced for groundshares? Used to pay off directors loans (unlikely as non-current liabilities have risen to over £1million by that point)?.

The last breakdown of directors loans is to the period 31 May 2020 (curtailed season with our FA Cup 2nd round run). This shows £73,269 owed to John Fenwick, £4,800 owed to Yioryios Vasilaras, £145,425 owed to Paul Hayward, £65,478 owed to Anderson Travel Limited and £35,976 owed to Malcolm Winwright. Total of £324,948, but non-current liabilities are £1,106117. Any ideas what these other liabilities might be? Our FA Cup run will have generated prize money of £77,250 according to the FA prize money published for that season. This is before taking into account shares of gate money and TV money. Surely the directors should have taken this money out of the club to pay back any loans if they needed the money back and not any Womble money?!

As of the last set of published accounts to 31 May 2022 non-current liabilities are just below £1million (there is no breakdown of directors loans showing) and our current assets and accrued income are down to £736,330 (dread to think what it is now).

Our current directors are John Fenwick, Mark Anderson, Benjamin Flatt, Paul Hayward and Yioryios Vasilaras. Of that list of five directors I think I have seen two regularly this season and one of them once at our fans forum earlier in the season. The last breakdown of shareholders from 09/07/2019 is John Fenwick - 25 ordinary shares, Paul Forrester - 25 ordinary shares, Anderson Travel Holdings Limited - 25 ordinary shares, Malcolm Winwright - 25 ordinary shares, Paul Hayward 19 ordinary shares and Yioryos Vasilaras 6 ordinary shares.

It beggars belief that if they are not interested enough to attend that they won't allow passionate, driven and highly skilled fans to help and/or takeover the day to day running of the club. Maybe we should just pay off our director of football's loan and give KBH those 6 shares. He seems to have a big say in things for someone with such a small shareholding.

Up the K's, up KBH and sack the board!

Edited by Justin Sider at 13:39:19 on 4th May 2023

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