Jump to content
British Speedway Forum

Recommended Posts

3 hours ago, TotallyHonestJohn said:

So I'm told this was in this week's Speedway Star?

No comment eh... lol 

Regards 

THJ 

IMG-20201105-WA0002.jpg

Mmm just got in from  a big double shift from graft as I'm now helping out at the NHS delivering parcels etc & find this snippet interesting.. 

  • Thanks 1

Share this post


Link to post
Share on other sites
8 hours ago, pienpeesman said:

Mmm just got in from  a big double shift from graft as I'm now helping out at the NHS delivering parcels etc & find this snippet interesting.. 

Honestly 

I think this story has got legs but I doubt we will ever get the whole truth on the matter... but it says a lot about in who we should trust... could get interesting.

Mr Newcastle Speedway my posterior...

Regards 

THJ 

You know when you read that it reads to me like he still thinks he has an involvement in what is going on at the club... but rest assured after what he's done and the mess he has left behind he wont be seen around Brough again... ever... or the new venue for that matter... hopefully Rob Grant and his team can learn from this debacle and go from strength to strength...

Just a little after thought....

Edited by TotallyHonestJohn
Additional comment
  • Haha 1

Share this post


Link to post
Share on other sites

Well its official...

The winding up order on Newspeed 2003 has been posted in the London Gazette today 11/11/2020

 https://m.thegazette.co.uk/notice/3673273

Now its a case of "watch this space" as "The VAT Man Cometh" and what will the demand be on potentially £160 grand of owed VAT and what will the penalties be... another £40 or £50 grand... Ho Ho Ho Merry Christmas....

Good move and Good Luck to Rob Grant and the new promotion... dumping the millstone that was Newspeed 2003 was the best move ever made...

The new company name has been revived and posted on companies house and here's hoping they go from strength to strength...

https://find-and-update.company-information.service.gov.uk/company/12324842

Get cracking with those vaccinations and get the world back on an even keel then hopefully we can get to see some Speedway again next year...

The new brush will sweep clean...

It will also be interesting to see who of the "winnets" turn up to support the new regime as there were a few who used to "hang on" for grim death to be included (and usually ignored) in the inner circle... full of their own importance... again Ho Ho Ho... however I am also unsure if they will be made welcome?

I have not laughed this much in a long time... in fact I'm not sure these underpants will ever dry...

So its "Excelsior" or onward and upward for the New and Improved Newcastle Diamonds Promotion... Get in...

Regards
THJ

  • Haha 1

Share this post


Link to post
Share on other sites
On 11/6/2020 at 8:27 AM, TotallyHonestJohn said:

Honestly 

I think this story has got legs but I doubt we will ever get the whole truth on the matter... but it says a lot about in who we should trust... could get interesting.

Mr Newcastle Speedway my posterior...

Regards 

THJ 

You know when you read that it reads to me like he still thinks he has an involvement in what is going on at the club... but rest assured after what he's done and the mess he has left behind he wont be seen around Brough again... ever... or the new venue for that matter... hopefully Rob Grant and his team can learn from this debacle and go from strength to strength...

Just a little after thought....

Looks like it's got the alright but how long or short are they !! I think once the VAT man comes calling for the big pennies that is missing there will be some squeaky bum sounds in the east end

  • Haha 1

Share this post


Link to post
Share on other sites
11 hours ago, TotallyHonestJohn said:

Well its official...

The winding up order on Newspeed 2003 has been posted in the London Gazette today 11/11/2020

 https://m.thegazette.co.uk/notice/3673273

Now its a case of "watch this space" as "The VAT Man Cometh" and what will the demand be on potentially £160 grand of owed VAT and what will the penalties be... another £40 or £50 grand... Ho Ho Ho Merry Christmas....

Good move and Good Luck to Rob Grant and the new promotion... dumping the millstone that was Newspeed 2003 was the best move ever made...

The new company name has been revived and posted on companies house and here's hoping they go from strength to strength...

https://find-and-update.company-information.service.gov.uk/company/12324842

Get cracking with those vaccinations and get the world back on an even keel then hopefully we can get to see some Speedway again next year...

The new brush will sweep clean...

It will also be interesting to see who of the "winnets" turn up to support the new regime as there were a few who used to "hang on" for grim death to be included (and usually ignored) in the inner circle... full of their own importance... again Ho Ho Ho... however I am also unsure if they will be made welcome?

I have not laughed this much in a long time... in fact I'm not sure these underpants will ever dry...

So its "Excelsior" or onward and upward for the New and Improved Newcastle Diamonds Promotion... Get in...

Regards
THJ

Mentioning big numbers in the context of Newcastle speedway, but short on any substance.

  • Like 1

Share this post


Link to post
Share on other sites
1 hour ago, Aceslider said:

Mentioning big numbers in the context of Newcastle speedway, but short on any substance.

Honestly

If you understand your way around a set of accounts all the information is there in front of your eyes...

 https://find-and-update.company-information.service.gov.uk/company/04865297

All the information is out there... all the substance you require... all you need to do is look...

Do you doubt the figures I am suggesting... 8 year at 20k a year is your 160k which is only 5k a quarter... then look on the Tax and Vat web site about the fines...

Your beloved former leader is in a whole world of poop I would suggest and he will have to come up with some good excuses to worm his way out of this...

Or at least better than the lies I got in the Costa Coffee opposite the Civic Centre...

Regards 

THJ 

 

  • Haha 1

Share this post


Link to post
Share on other sites
8 hours ago, TotallyHonestJohn said:

Honestly

If you understand your way around a set of accounts all the information is there in front of your eyes...

 https://find-and-update.company-information.service.gov.uk/company/04865297

All the information is out there... all the substance you require... all you need to do is look...

Do you doubt the figures I am suggesting... 8 year at 20k a year is your 160k which is only 5k a quarter... then look on the Tax and Vat web site about the fines...

Your beloved former leader is in a whole world of poop I would suggest and he will have to come up with some good excuses to worm his way out of this...

Or at least better than the lies I got in the Costa Coffee opposite the Civic Centre...

Regards 

THJ 

 

Given the filing exemptions for small companies there is really very little that you can infer from the information at Companies House. 

Share this post


Link to post
Share on other sites
9 hours ago, TotallyHonestJohn said:

Honestly

If you understand your way around a set of accounts all the information is there in front of your eyes...

 https://find-and-update.company-information.service.gov.uk/company/04865297

All the information is out there... all the substance you require... all you need to do is look...

Do you doubt the figures I am suggesting... 8 year at 20k a year is your 160k which is only 5k a quarter... then look on the Tax and Vat web site about the fines...

Your beloved former leader is in a whole world of poop I would suggest and he will have to come up with some good excuses to worm his way out of this...

Or at least better than the lies I got in the Costa Coffee opposite the Civic Centre...

Regards 

THJ 

 

Personally I don't have a "beloved former leader", but what I do have is full respect for all previous Diamonds promotions going back over the years and latterly including Newspeed 2003 Limited, Newspeed Limited and Whiteload Limited.

The link you provide to Companies House website is interesting and relevant in that it demonstrates how diligent Newspeed 2003 Limited has been in dealing with its compliance affairs. It also shows that the company has indeed used the services of a reputable firm of accountants in compiling its annual financial statements.

I really see nothing that would in the slightest way sully or besmirch the reputations of those officials who have acted as officers of the company. On the contrary, they appear to have dealt with the company's compliance affairs in a proper and timeous fashion.

 

  • Like 1

Share this post


Link to post
Share on other sites
7 hours ago, Aceslider said:

It also shows that the company has indeed used the services of a reputable firm of accountants in compiling its annual financial statements.

I really see nothing that would in the slightest way sully or besmirch the reputations of those officials who have acted as officers of the company. On the contrary, they appear to have dealt with the company's compliance affairs in a proper and timeous fashion.

 

I'm pleased to see that you think they have used a reputable firm of accountants as I have used the same one man band company to do my accounts for the last 15 years and to be fair he isn't that bad so you have recognised that at least...  and he was the first guy I spoke to when I was 1. Looking to invest in Newspeed and then 2. When I was considering buying Newspeed... and he gave a very honest assessment hence Rob Grant got burnt and I didn't 

If not paying the VAT man and leaving a new promoter with unpaid bills from the previous season after telling him that everything was paid up and there was nothing outstanding doesn't Sully or Besmirch the seller of the business then I don't know what does?

I have a reasonable understanding of what has gone on and it's a disgrace... pure and simple...

8 hours ago, arnieg said:

Given the filing exemptions for small companies there is really very little that you can infer from the information at Companies House. 

If my assumptions are correct and Newspeed was Liquidated for none payment of VAT then there is enough on there to indicate turnover and my calculations are from this and the knowledge I have from running a business... also it's usual for business of this size and with their turnover to be responsible for filling out their own VAT return... 

If I'm wrong I will apologise on here unreservedly... however I am pretty confident I am right...

Regards 

THJ 

Edited by TotallyHonestJohn
Spelling, Spell Check and Eyesight

Share this post


Link to post
Share on other sites
1 hour ago, TotallyHonestJohn said:

I'm pleased to see that you think they have used a reputable firm of accountants as I have used the same one man band company to do my accounts for the last 15 years and to be fair he isn't that bad so you have recognised that at least...  and he was the first guy I spoke to when I was 1. Looking to invest in Newspeed and then 2. When I was considering buying Newspeed... and he gave a very honest assessment hence Rob Grant got burnt and I didn't 

If not paying the VAT man and leaving a new promoter with unpaid bills from the previous season after telling him that everything was paid up and there was nothing outstanding doesn't Sully or Besmirch the seller of the business then I don't know what does?

I have a reasonable understanding of what has gone on and it's a disgrace... pure and simple...

If my assumptions are correct and Newspeed was Liquidated for none payment of VAT then there is enough on there to indicate turnover and my calculations are from this and the knowledge I have from running a business... also it's usual for business of this size and with their turnover to be responsible for filling out their own VAT return... 

If I'm wrong I will apologise on here unreservedly... however I am pretty confident I am right...

Regards 

THJ 

With respect, we only have your word for that.

The filed accounts up to A.P 30 November 2016 (after which Micro company accounts were filed) at Companies House indicate that the company was registered for VAT. This is stated quite clearly in the accounting policy note which states that turnover is declared net of VAT. Such a statement would not be included unless it were true. This means that the company's VAT inputs and outputs would be accounted for through its VAT account and the net liability shown duly paid to HMRC. If the liability were not paid, it would be reflected by an ever increasing liability due for payment to HMRC. No such liability is reflected in the filed accounts. This does not surprise me as (a) I expect the company was paying its liabilities as and when they fell due and (b) because there would probably only be 2 quarters in every 4 (bearing in mind the speedway season) when liabilities arose.

It would be inconceivable for a company incorporated in 2003 to trade for such a long period of time as a registered VAT business, not to pay its VAT liabilities. Is that what you are alleging?

I would accept that a VAT compliance review might at some stage flag up potential under or over declarations, but this would be perfectly normal in such reviews and can arise for a multiplicity of reasons. This however is not quite the same as the bold statement you make in "not paying the VAT man".

In case you were wondering, I am certainly no apologist for the company, but I am very much at odds with the concept of denigrating an individual or individuals until there is some substance to the allegations which so far as I am concerned are totally unfounded.

 

 

Share this post


Link to post
Share on other sites

Honestly

I find your naivety in these matters quite charming however you seem to infer that I am factually inaccurate with what I am saying... well rest assured when it all comes out I will refer back to this to confirm what I am saying is in fact correct... boy will I refer back...

I have been involved financially with Newspeed and Newcastle Speedway since 2008 and I have been with my/our mutual accountant since 2006 and the accountant (who used to sponsor heat 4 and sometimes heat 2 at Brough for many years) had done the club's accounts from 2003 so my knowledge on the liquidation of Newspeed is reasonably accurate...

You question my figures... however it's a well known fact that I was genuinely interested in firstly supporting the club financially when Alan Hedley left and done some "due diligence" on the club... following meetings with the main protagonist who wanted me to blindly put thousands of pounds into the club without any checks, ballances or govenance... so I decided that was to much of a risk and backed off... especially when I found a black hole in the accounts and I could not get an answer (any answer) to my questions... so much so that after that meeting I was actually ostracized by Gru and his minions... they actually stopped speaking to me and I had to pay my club sponsorship through a third party who took a fee off them for collecting it... (nuts)

Then when the place came on the market I considered buying the club... however I was told that... "this may not be the best thing to do"... in fact the actual words were "don't touch it with a barge pole" as things transpired that was excellent advice... 

Finally on the figures quoted and what one might expect as to a punishment... if it is deemed as willfull avoidance rather than incompetence... it can been seen by reading some of the cases on the link below what can be doled out...

https://www.mynewsdesk.com/uk/hm-revenue-customs-hmrc/latest_news/tag/vat

See some of the fines quoted for avoidance... and if you want to you can dodge paying VAT for years... it's only when you get caught the problems start... the company are responsible for paying VAT not the accountant... whether you are registered for VAT or not... unless instructed of course and that's normally for sole traders not companies...

You seem to be one of these guys who needs a smoking gun before they believe the inevitable that they have actually been shot... so keep watching and when it goes "PoP" I will point it out to you...

As for what I am saying there is already enough evidence to show that the gun is smoking... there has been no over or under declaration on the VAT it's just the fact that I don't believe it has been paid (for years) and you notify quarterly not six monthly it's 3 month in arrears and what about Christmas Party ticket sales Season Ticket sales Merchandise which are all procured during the off season and of course prior to the season starting Sponsorship which all should include VAT...

Regards 

THJ 

Edited by TotallyHonestJohn
Missed out word

Share this post


Link to post
Share on other sites

"I find your naivety in these matters quite charming"

Not naive, just a presumption of innocence until proven otherwise and not by mere heresay!

Share this post


Link to post
Share on other sites
18 minutes ago, Aceslider said:

"I find your naivety in these matters quite charming"

Not naive, just a presumption of innocence until proven otherwise and not by mere heresay!

That's the thing... it ain't hearsay...

Regards 

THJ

 

Share this post


Link to post
Share on other sites

Please sign in to comment

You will be able to leave a comment after signing in



Sign In Now

×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue. Privacy Policy