And We Thought We Were In Money Trouble

[Brighton Breezy]

Boston United's debt list:

Lavaflow £1,400,000.00
H M Revenue & Customs (PAYE) £847,331.47
The Gliderdrome £267,173.27
H M Revenue & Customs (VAT) £214,328.83
Glasgow Rangers FC plc £38,805.55
Hemmingway Head Office £38,335.89
Ian Lee £16,000.00
J S Management Consultancy £15,956.00
Professional Footballers Association £14,000.00
Swallow Hotels & Inns £13,578.31
Portsmouth FC £13,558.50
Gordon Smith Sports £12,584.25
Lincolnshire Police Authority £11,653.79
Bespoke People Solutions Ltd £11,216.37
Printability 2000 Ltd £9,376.28
Ipswich Town FC £7,005.68
Middlesbrough Football Club £6,058.97
Strata Sports Marketing Ltd £5,875.00
Chester City Football Club £5,712.85
SHO Limited £3,903.12
Birmingham City Football Company plc £3,765.19
Couchman Harrington Associates £2,907.73
Mobilis Sports £2,886.54
British Red Cross £2,581.53
Health Partners Europe Ltd £2,496.09
Peterborough United FC £2,291.07
Brian James £2,225.00
Makespace Mezzanine Floors £1,949.80
Pro Star Management £1,845.00
Wotton of Tiverton Ltd £1,800.00
Chatteris Caterers £1,776.00
CSA - Brad Maylett £1,775.43
Metro Sport £1,753.40
Impact (Boston) Ltd £1,497.13
Peter Cole Consultants £1,407.36
Sage (UK) Limited £1,387.89
Chestnut Homes £1,297.50
Telecom Midlands Ltd £1,111.85
Boston Anorak Company Ltd £1,110.38
CSA - Francis Green £1,100.38
Frieston Playing Fields Association £1,068.00
County Gourmet £965.38
The Groin & Hernia Clinic £915.00
Billinghams £895.55
Mr A J Banks £895.00
Bradford City Football Club £862.65
BBC Publishing £816.63
Heritage Leisure Designs Ltd £762.21
PHS Group plc £616.70
Vandanel Sports Ltd £559.12
Premier Sports Medical £545.39
Craven & Nicholas (Engineering) Ltd £520.51
Tate Security Technology Ltd £505.00
Physique Management Company Ltd £454.24
Turnstile Systems £452.21
Ace Events Ltd £433.00
Fineturf £331.51
Mrs Margaret McGarry £330.00
Boston Commercial Cleaners Ltd £314.31
Sports Kit Pro Soccer £313.13
Agrilinc £310.14
Forceshift (Contracting) Ltd £294.00
Stamp Storage £280.03
Floodlight Lux Services £275.00
Healthguard Ltd £227.72
Red Lion Enterprises £170.00
Anthony Swindells £125.00
PRS Music Licence £101.40
Bramley House £100.00
Graham Trigg Plumbing & Heating Eng £88.46
Time to Frame £75.00
Watering Well Water Coolers Ltd £63.62
Miko Coffe Ltd £61.50
I T Com Solutions (UK) Ltd £45.00
HSS Hire £41.60
Kings Office Equipment £41.47
O2 (UK) Limited £30.00
Programme Master Ltd £20.00
Woodco Office Equipment Co £17.80

Total £3,006,342.68

 

[Woodchip]

You don't really want to owe HMRC any money. They tend to sulk quite a lot over that.

 

[Dez]

I see they owe Gordon Smith 12 grand!

 

[Rougvie]

I see they owe Gordon Smith 12 grand!

Thats from AGES ago.

They really are f***ed.

They even owe the CSA money !!

 

[Cian]

How do they own Rangers 38k?

 

[Horsham Gull]

Boston Anorak Company Ltd £1,110.38

 

[Woodchip]

How do they own Rangers 38k?

How weird. My colleague just asked that as well.

 

[Tubby Mondays]

Lavaflow £1,400,000.00

Why has a football club spent that much on loads of stupid lamps? They deserve all they get!

 

[pasty]

You would think that perhaps these clubs could write these off ? Surely not significant amounts to the clubs involved?

Glasgow Rangers FC plc £38,805.55
Portsmouth FC £13,558.50
Ipswich Town FC £7,005.68
Middlesbrough Football Club £6,058.97
Birmingham City Football Company plc £3,765.19

 

[BIRCHYBOY27]

Boston United's debt list:

Lavaflow £1,400,000.00


At least theyve stopped the lava flow that could have wipped out the whole area. phew

 

[Rougvie]

They owe Rangers because they didnt bother paying wages for loan players.

About 2/3 years ago, people like Gordon Smith (now the most powerfull football agent in SWEATY) were filling Boston with half decent SPL players on really good money, the bubble burst and now they want whats owed to the.

 

[Barrel of Fun]

How do they own Rangers 38k?

They have a player on loan – The big black dude – N’Guyssian or something similar.

 

[Cian]

Lavaflow is the chairmans company.

 

[Yorkie]

Am I misreading that or is it just 3 million in debt?

If so, then we are 4 times worse off than that (with no assets)

 

[Barrel of Fun]

Am I misreading that or is it just 3 million in debt?

If so, then we are 4 times worse off than that (with no assets)

True, but there would be a greater risk involved. If one of the creditors out of 80 calls in their debt, then there would be a mass movement from all the creditors and Boston would not be able to cope.
Our debts would appear to be much more manageable.
NB I am not a financial expert. This is just an opinion

 

[Yorkie]

True, but there would be a greater risk involved. If one of the creditors out of 80 calls in their debt, then there would be a mass movement from all the creditors and Boston would not be able to cope.
Our debts would appear to be much more manageable.
NB I am not a financial expert. This is just an opinion

We had to pay off the Capital Gains tax last year because the Inland Revenue wouldn't give us any more time for a stadium.

 

[Gritt23]

Nice to see the Football League supporting a club in trouble.

Blimey, what would happen to a Premiership club if the Premier League decided that they didn't like the stability of a clubs finances - Leeds a few years back perhaps - and as a result held back their TV money?


From BBC.co.uk
League withholds Boston payment

Troubled Boston United have had their share of a cash hand-out withheld by the Football League.
Around £100,000 normally paid to League Two clubs from television and sponsorship revenues has not been paid due to "uncertainties" at York Street.

A Football League spokesman said: "As in previous cases of this kind, the League has withheld the payment.

"This is due to current uncertainties as well as the club's outstanding debts to the League and fellow clubs."

Boston, who have reported debts of over £1m and are two months behind in paying staff wages, are due to meet creditors on Wednesday.

The club, who are struggling to avoid relegation into the Conference, are thought to be considering going into a Company Voluntary Arrangement in a bid to stave off possible liquidation.

However, any decision is likely to be delayed until after the season finishes to avoid incurring an immediate 10-point penalty, which would send them down.

Boston had less then 11 fully fit professional players for their game against Chester City last Saturday and could name only three substitutes.

They have also travelled to some recent away games in cars to cut costs.

 

[algie]

Bradford have problems too

 

[Yorkie]

Bradford have problems too

Bradford nearly went into administration in 2002. Their players weren't paid for over 3 months. They sold Carbone's house (which was bought for him) for 750K to pay off some of their debts which were accrued trying to stay in the Prem.

 

[algie]

http://www.bradfordvision.co.uk/node/12523