The Auditor
New member
The reply to my email to the club
While we are at Withdean the financial situation at this club is always
going to be difficult - we simply cannot generate enough income to cover the
costs of a Championship or even a League One Club. It is why we need the
new stadium and time is running out for us.
The fact that we have been in the 1st/Championship Division twice in the
last three seasons and the run of success that we have had, is an amazing
achievement considering the difficulties that we face.
The Club is not about to go into administration. The contributions made by
supporters to the Alive and Kicking Fund the draw against Tottenham and the
sale of Darren Currie have secured our position for the time being but we
always said we have a cash deficit of £2 million and even with these welcome
inflows of cash, we have still got some way to go. Nevertheless with
prudent cash management and with supporters continuing to support the Alive
and Kicking Fund we will get through.
The "Black Hole" that Mark was referring to was the cost of the planning
application and Inquiry which has to date cost us £2.5 million. This next
part of the Inquiry is expected to cost us another £300,000 - Each site is
costing about £30,000 to analyse. John Prescott asked us to look at 7
sites. Falmer Parish Council have asked us to look at two more. It is a
sad fact that because of what Falmer Parish Council have done, the money we
have received for the sale of Currie will now not even cover the cost of the
re-opened inquiry. It is no wonder that the Manager feels that the money he
has generated is just disappearing into thin air!
And of course we have the legacy left to us of CGT due on the sale of the
Goldstone by our predecessors. This is a constant threat and we are having
to fight it off on a daily basis.
Our normal business cycle means that the 2004 Accounts are going through
Audit now. They are due to be filed in April next year. The story will be
the same. We cannot make ends meet while we are at Withdean and it just
underlines how much we have achieved despite the odds being stacked against
us
Martin Perry
While we are at Withdean the financial situation at this club is always
going to be difficult - we simply cannot generate enough income to cover the
costs of a Championship or even a League One Club. It is why we need the
new stadium and time is running out for us.
The fact that we have been in the 1st/Championship Division twice in the
last three seasons and the run of success that we have had, is an amazing
achievement considering the difficulties that we face.
The Club is not about to go into administration. The contributions made by
supporters to the Alive and Kicking Fund the draw against Tottenham and the
sale of Darren Currie have secured our position for the time being but we
always said we have a cash deficit of £2 million and even with these welcome
inflows of cash, we have still got some way to go. Nevertheless with
prudent cash management and with supporters continuing to support the Alive
and Kicking Fund we will get through.
The "Black Hole" that Mark was referring to was the cost of the planning
application and Inquiry which has to date cost us £2.5 million. This next
part of the Inquiry is expected to cost us another £300,000 - Each site is
costing about £30,000 to analyse. John Prescott asked us to look at 7
sites. Falmer Parish Council have asked us to look at two more. It is a
sad fact that because of what Falmer Parish Council have done, the money we
have received for the sale of Currie will now not even cover the cost of the
re-opened inquiry. It is no wonder that the Manager feels that the money he
has generated is just disappearing into thin air!
And of course we have the legacy left to us of CGT due on the sale of the
Goldstone by our predecessors. This is a constant threat and we are having
to fight it off on a daily basis.
Our normal business cycle means that the 2004 Accounts are going through
Audit now. They are due to be filed in April next year. The story will be
the same. We cannot make ends meet while we are at Withdean and it just
underlines how much we have achieved despite the odds being stacked against
us
Martin Perry
