RFC Audited Accounts to be released by 10th Oct 2013

[Guardian 4,281]

On Thursday 8th August, they told a large room full of fans that the accounts were due mid September, but they were going to try to have them out by the end of August. That was over 7 weeks ago. The end of August has passed and mid September has passed. We're now at the end of September and supposedly being told they'll be out by 10th October which just happens to be the last possible date for them before a 31st October AGM? Is it just because it's a Friday that something smells fishy?

They said they would try and get the accounts out.

Things change and they have had rather a lot of shareholder related business to deal with.

A lot of the accounts is out of their hands and can't be hurried.

But then you probably already know that.

The only fishy thing is the number of people suddenly appearing to cast aspersions and spread doubt.

Once the accounts are published, I'm sure you all won't say great stuff that's all we wanted.

[jcb 1,167]

Not absolutely. It will certainly be good news, but there will be no absolute assurance that we will see out the year, only that we should.

Im interested to see that the projected revenue is realistic and that it should see us over the line with a bit to spare.

For the auditors to sign off on the accounts we would have to prove that we're a going concern ie no prospect of liquidation in the forseeeable future, normally a 12 month period.

[mitre_mouldmaster 21,510]

They said they would try and get the accounts out.

Things change and they have had rather a lot of shareholder related business to deal with.

A lot of the accounts is out of their hands and can't be hurried.

But then you probably already know that.

The only fishy thing is the number of people suddenly appearing to cast aspersions and spread doubt.

Once the accounts are published, I'm sure you all won't say great stuff that's all we wanted.

It was a ridiculously stupid thing to say though.

To say that they thought they would be able to get them out in under 2 weeks, and then 7 weeks down the line we are still in the dark was bound to get people worried and start rumour going.

For that alone they should get a bit of grief.

[Turnberry18 3,204]

If only. One side will view them as decent and the other will discredit them and online life will continue on as it is just now sadly

I completely agree with that, and the accounts are something we are going to have to try and be as objective as possible about.

[Zappa 358]

Once the accounts are published, I'm sure you all won't say great stuff that's all we wanted.

You can't expect that though because when they finally come out it's a stick-on that there's going to be more questions than answers. That was certainly the case the last time a set of accounts were published, so given the level of scrutiny of our situation now (which is only to be expected after what happened last year) and the mistrust a lot of fans have, then it's a certainty that the accounts won't bring any sort of conclusion to all this. Nor will the AGM.

[mitre_mouldmaster 21,510]

For the auditors to sign off on the accounts we would have to prove that we're a going concern ie no prospect of liquidation in the forseeeable future, normally a 12 month period.

It depends on how strict the auditors are.

We would have to pass the 'going concern' criteria, but this would take into account potential revenue. Dependant on how thorough the auditors are, they may allow the going concern tag to be applied where the company's revenue projections 'should see them through'.

If the projections fall short, we could still find ourself in trouble.

This is very unlikely though, the auditors will be most likely very thorough. But I would just urge people to check the revenue projections and their feasibility as carefully as where the money has went.

I dont care where the money went as long as we know that our future revenue can keep us going.

I dont want to see wildly optimistic revenue projections on things like the wifi and big screens, or that our revenue would just see us over the line and no more.

Its all guesswork until the accounts are out though.

[Redsox1 1,361]

Not absolutely. It will certainly be good news, but there will be no absolute assurance that we will see out the year, only that we should.

Im interested to see that the projected revenue is realistic and that it should see us over the line with a bit to spare.

Why are you interested in the projected revenue ? If it doesn`t look good enough to you will you then back mini who has given us ZERO projected revenue ?

[Muirheadbear 1,483]

Have a look at the ghuest thread count.

Obhsessed fannies. Get a life or better still stop harbouring paedos.

[AlBear. 8,499]

Any chance this will be postponed because of international call ups aswell?

[SE5 107]

Cannot wait, they will sure make compulsive viewing for the whole country given the obsession with our club.

[jcb 1,167]

It depends on how strict the auditors are.

We would have to pass the 'going concern' criteria, but this would take into account potential revenue. Dependant on how thorough the auditors are, they may allow the going concern tag to be applied where the company's revenue projections 'should see them through'.

If the projections fall short, we could still find ourself in trouble.

This is very unlikely though, the auditors will be most likely very thorough. But I would just urge people to check the revenue projections and their feasibility as carefully as where the money has went.

I dont care where the money went as long as we know that our future revenue can keep us going.

I dont want to see wildly optimistic revenue projections on things like the wifi and big screens, or that our revenue would just see us over the line and no more.

Its all guesswork until the accounts are out though.

Would hope that Deloittes are above reproach in this respect, however our previous auditors have had a difficult week so you may have a point.

[mitre_mouldmaster 21,510]

Why are you interested in the projected revenue ? If it doesn`t look good enough to you will you then back mini who has given us ZERO projected revenue ?

Because our future revenue is vitally important to our club!

If it looks very poor, I will want the board replaced with folk who can do better. I have nothing to suggest that Paul Murray fits this criteria.

[mitre_mouldmaster 21,510]

Would hope that Deloittes are above reproach in this respect, however our previous auditors have had a difficult week so you may have a point.

To be honest, I think they will be, but I have so little trust in anyone at the minute that I want to review the figures for myself.

I have no doubt that the accounts will be spot on with exactly what has been spent and on what (to a certain granularity), Deloittes will get this right.

I do however think that an auditor would be likely to sign off accounts if they think the company (especially one with no real creditors) has a 'good chance' of getting through the year.

[ritchieshearercaldow 22,242]

We're doomed

Anything less than a big fat profit and the handringers will have a field day.

Get over it we are Rangers FC no matter what, we will be around live and kicking for years to come.

No Surrender

[jcb 1,167]

To be honest, I think they will be, but I have so little trust in anyone at the minute that I want to review the figures for myself.

I have no doubt that the accounts will be spot on with exactly what has been spent and on what (to a certain granularity), Deloittes will get this right.

I do however think that an auditor would be likely to sign off accounts if they think the company (especially one with no real creditors) has a 'good chance' of getting through the year.

How many of us would have even know who our auditors were a couple of years ago ?

Agree with you re - lack of trust.

A sign of the times i'm afraid.

[AlBear. 8,499]

We're doomed

Anything less than a big fat profit and the handringers will have a field day.

Get over it we are Rangers FC no matter what, we will be around live and kicking for years to come.

No Surrender

No chance I'll be on here after they're released. Either way both sides will be on the propaganda offensive.

What I will say is anyone expecting a profit is deluded or naive, at best.

[jcb 1,167]

No chance I'll be on here after they're released. Either way both sides will be on the propaganda offensive.

What I will say is anyone expecting a profit is deluded or naive, at best.

Anyone expecting a profit should be sectioned tbh.

[AlBear. 8,499]

Anyone expecting a profit should be sectioned tbh.

There will be a few on here trying to spread the fear though.

For them,

[mitre_mouldmaster 21,510]

We're doomed

Anything less than a big fat profit and the handringers will have a field day.

Get over it we are Rangers FC no matter what, we will be around live and kicking for years to come.

No Surrender

Thats the thing I have said plenty of times. The current board cannot be expected to be miracle workers.

We will post a big loss this year, and that is only to be expected.

Hopefully the operating loss will be more reasonable.

As long as it looks like the current board have a feasible plan for us surviving till we get back to the SPL and can start to earn properly, then they deserve a chance.

If it looks like we are haemorrhaging money and the current board are struggling, I will want them replaced.

[ritchieshearercaldow 22,242]

No chance I'll be on here after they're released. Either way both sides will be on the propaganda offensive.

What I will say is anyone expecting a profit is deluded or naive, at best.

I'm being ironic with the the doomed part m8.

We only need to look across the city to the mhanky mob, cash rich but can't spend money, they know it costs money to survive as a big boy in Scottish football, we spend money, we are big boys, biggest club in the country but we will survive no matter what, I'd be worried if we were in profit.

[SteveJ 743]

This is taken from a twitter account of a good bear who spoke with Brian Stockbridge this morning.

This will be in line with an AGM on or before 31st Oct 2013.

Take from this what you will.

Stockbridge is an arse who I have no trust in.