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NEWCASTLE DIAMONDS 2022

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10 minutes ago, Sings4Speedway said:

Equipment sounds like its up to task  if its maintained ok but a 6 point average is huge considering Wright returned on a 4.00. If Complin can do what Wright achieved last season i would consider that a mega comeback but maintaining a 6 feels like dreamland.

10 years retired is a long time, look at Crump last season. Would love to be proved wrong, but can't see how that is a good signing with over 6 points left.

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14 minutes ago, Sings4Speedway said:

Equipment sounds like its up to task  if its maintained ok but a 6 point average is huge considering Wright returned on a 4.00. If Complin can do what Wright achieved last season i would consider that a mega comeback but maintaining a 6 feels like dreamland.

Have to agree,in his prime he was only averaging  just over 7.Wish him all the best though he is a100% effort and a good guy.

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2 hours ago, proud panther said:

10 years retired is a long time, look at Crump last season. Would love to be proved wrong, but can't see how that is a good signing with over 6 points left.

Plus Crump was truly  World Class.

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2 minutes ago, Fromafar said:

Plus Crump was truly  World Class.

Exactly, getting to the required fitness levels is a massive challenge.

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On 12/16/2021 at 9:31 PM, Wardey said:

No mention of riders as assets on the official liquidation paperwork. From memory it was a tractor and some cash in the bank 

Riders are only an asset to a viable business and are only a paper value with no extraneous value so when the business goes the (Person) asset goes as well: My pals son played for a Scottish football team which went pop a few years back; he was worth £125k to £150K on paper and whilst the club were in Administration the Administrator tried to sell him for £25k to realise some cash to try and keep the place afloat; however no-one came in for him at that time knowing when the club went pop they would be able to obtain the boy for a lot less than even the £25k... how this scenario worked out was if any club had bought him he would have been entitled to a 5% signing on fee so £7.5k on the £150k valuation; and at £25k that dropped to £1,250 quid so he didn't really want to move either to be fair; so when the club went bust the Liquidators looked to strip the assets of the club; however People; Players; Employee's are not tangible assets of an entity or business so they move on and my pal's son did just that and got a £10k signing on fee off his new club; he got more cash than he would of even if sold at £150k and the purchasing club got him £16,250 quid cheaper than they would have done if they had bought him off the Administrator for £25k...

Furthermore since "The Slavery Abolition Act of 1833" people are not allowed to own people its as simple as that; it gives a false impression that because riders (Players in Football) are assets of a club and the club owns their contracts that there is a value in them; however as stated that value is only there whilst the club are trading and should that business stop trading there is no value whatsoever in those assets to the folded business.. very simple analogy however I hope it explains why there were no riders listed as assets by the liquidator...

On 12/18/2021 at 4:23 PM, Tsunami said:

No mention of the air fence in the assets list ?

The air fence is slightly different as it is a Tangible Asset however it is also what is known as a Depreciating Asset and as such represents how much of an asset's value has been used. Depreciating assets help companies earn revenue from an asset while potentially expensing a portion of its cost each year the asset is in use and it allows for a portion of the cost to be written off against tax. Depreciation is what happens when assets lose value over time until the value of the asset becomes zero, or negligible. Depreciation can happen to virtually any fixed asset, including office equipment, computers, machinery, buildings, and so on hence why the tractor and machinery were mentioned in the liquidators report as they had some value.

Depreciation is intended to roughly reflect the actual consumption of the underlying asset, so that the carrying amount of the asset has been reduced to its salvage value by the time its useful life is over and you can sell a depreciated asset, however any profit relative to the item's depreciated price is a capital gain. ... So if you have wrote the item down against a tax liability over a period for example, to write down the cost of the Tractor to nothing and then you sold it for £1200, the entire selling price would be a taxable gain.

So every asset has a useful life, which is an accounting estimate of how long that asset will last. ... This continues until the asset is fully depreciated. Assets get depreciated down to zero or to their salvage value, which is what the company thinks it could get for the asset at the end of its useful life and unless you had a trade in making Elephant condoms I am not sure what you would do with an Air Fence after 10 or so years. Although the amount of times that one has been punctured at Brough I am not sure Elephant condoms would be the best use for it.

One simple example is that we have just bought a New VW Transporter for the business at circa £25k and our accountant writes these vehicles down by £5k each year so by year 5 with around 150k miles on the clock these vans are rated as being worthless to the business and if a liquidator came in tomorrow he would spend a couple of hours marketing the van and selling it for say £18 or £20k however if we went pop 5 years from now that van would be scrapped with a 2 minute phone call for £100 pounds as why would a liquidator whose fees are anything from £200 to £2000 pound per hour spend any more than a 20p phone call to get rid of it.

So long response to a simple question; however an air fence which cost about £20k around 7 or 8 years back will have been well and truly written off by now and if the club had of went down the pan the liquidator would probably say to anyone who wanted it to take it to save him the cost of disposing of it.

On 12/18/2021 at 9:25 PM, Wee Eck said:

What is also interesting is that, although much was made of a VAT liability, and the statement of affairs makes reference to a debt to HMRC of £158,048 it says that no claims were received for that amount which remained part of the statement of affairs at the final part of the winding up. 
Does that mean that much of the commentary made about the “mess” left by the previous promotion didn’t exist?

Wey hey Wee Nonce Troll McTrollface is back and doesn't understand what he has read and what the Eck he is on about as usual... lets just say if leaving the club with "a debt to HMRC of £158,048" which has been made reference too by the liquidator doesn't show the “mess” left by the previous promotion and that this debt does still exist? and if the collapsing of the old business by the new one doesn't also show that the “mess” left by the previous promotion existed I don't know what more information you require? you need to crawl back under that rock Biffa...

Elephant Condom for @Wee Eck to stick his massive tool of a head in please...

Regards
THJ

Edited by TotallyHonestJohn
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36 minutes ago, TotallyHonestJohn said:

Riders are only an asset to a viable business and are only a paper value with no extraneous value so when the business goes the (Person) asset goes as well: My pals son played for a Scottish football team which went pop a few years back; he was worth £125k to £150K on paper and whilst the club were in Administration the Administrator tried to sell him for £25k to realise some cash to try and keep the place afloat; however no-one came in for him at that time knowing when the club went pop they would be able to obtain the boy for a lot less than even the £25k... how this scenario worked out was if any club had bought him he would have been entitled to a 5% signing on fee so £7.5k on the £150k valuation; and at £25k that dropped to £1,250 quid so he didn't really want to move either to be fair; so when the club went bust the Liquidators looked to strip the assets of the club; however People; Players; Employee's are not tangible assets of an entity or business so they move on and my pal's son did just that and got a £10k signing on fee off his new club; he got more cash than he would of even if sold at £150k and the purchasing club got him £16,250 quid cheaper than they would have done if they had bought him off the Administrator for £25k...

Furthermore since "The Slavery Abolition Act of 1833" people are not allowed to own people its as simple as that; it gives a false impression that because riders (Players in Football) are assets of a club and the club owns their contracts that there is a value in them; however as stated that value is only there whilst the club are trading and should that business stop trading there is no value whatsoever in those assets to the folded business.. very simple analogy however I hope it explains why there were no riders listed as assets by the liquidator...

The air fence is slightly different as it is a Tangible Asset however it is also what is known as a Depreciating Asset and as such represents how much of an asset's value has been used. Depreciating assets help companies earn revenue from an asset while potentially expensing a portion of its cost each year the asset is in use and it allows for a portion of the cost to be written off against tax. Depreciation is what happens when assets lose value over time until the value of the asset becomes zero, or negligible. Depreciation can happen to virtually any fixed asset, including office equipment, computers, machinery, buildings, and so on hence why the tractor and machinery were mentioned in the liquidators report as they had some value.

Depreciation is intended to roughly reflect the actual consumption of the underlying asset, so that the carrying amount of the asset has been reduced to its salvage value by the time its useful life is over and you can sell a depreciated asset, however any profit relative to the item's depreciated price is a capital gain. ... So if you have wrote the item down against a tax liability over a period for example, to write down the cost of the Tractor to nothing and then you sold it for £1200, the entire selling price would be a taxable gain.

So every asset has a useful life, which is an accounting estimate of how long that asset will last. ... This continues until the asset is fully depreciated. Assets get depreciated down to zero or to their salvage value, which is what the company thinks it could get for the asset at the end of its useful life and unless you had a trade in making Elephant condoms I am not sure what you would do with an Air Fence after 10 or so years. Although the amount of times that one has been punctured at Brough I am not sure Elephant condoms would be the best use for it.

One simple example is that we have just bought a New VW Transporter for the business at circa £25k and our accountant writes these vehicles down by £5k each year so by year 5 with around 150k miles on the clock these vans are rated as being worthless to the business and if a liquidator came in tomorrow he would spend a couple of hours marketing the van and selling it for say £18 or £20k however if we went pop 5 years from now that van would be scrapped with a 2 minute phone call for £100 pounds as why would a liquidator whose fees are anything from £200 to £2000 pound per hour spend any more than a 20p phone call to get rid of it.

So long response to a simple question; however an air fence which cost about £20k around 7 or 8 years back will have been well and truly written off by now and if the club had of went down the pan the liquidator would probably say to anyone who wanted it to take it to save him the cost of disposing of it.

Wey hey Wee Nonce Troll McTrollface is back and doesn't understand what he has read and what the Eck he is on about as usual... lets just say if leaving the club with "a debt to HMRC of £158,048" which has been made reference too by the liquidator doesn't show the “mess” left by the previous promotion and that this debt does still exist? and if the collapsing of the old business by the new one doesn't also show that the “mess” left by the previous promotion existed I don't know what more information you require? you need to crawl back under that rock Biffa...

Elephant Condom for @Wee Eck to stick his massive tool of a head in please...

Regards
THJ

Aye, basically that's what a meant,,, well about the first 2 episodes anyway. ;)

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56 minutes ago, TotallyHonestJohn said:

Riders are only an asset to a viable business and are only a paper value with no extraneous value so when the business goes the (Person) asset goes as well: My pals son played for a Scottish football team which went pop a few years back; he was worth £125k to £150K on paper and whilst the club were in Administration the Administrator tried to sell him for £25k to realise some cash to try and keep the place afloat; however no-one came in for him at that time knowing when the club went pop they would be able to obtain the boy for a lot less than even the £25k... how this scenario worked out was if any club had bought him he would have been entitled to a 5% signing on fee so £7.5k on the £150k valuation; and at £25k that dropped to £1,250 quid so he didn't really want to move either to be fair; so when the club went bust the Liquidators looked to strip the assets of the club; however People; Players; Employee's are not tangible assets of an entity or business so they move on and my pal's son did just that and got a £10k signing on fee off his new club; he got more cash than he would of even if sold at £150k and the purchasing club got him £16,250 quid cheaper than they would have done if they had bought him off the Administrator for £25k...

Furthermore since "The Slavery Abolition Act of 1833" people are not allowed to own people its as simple as that; it gives a false impression that because riders (Players in Football) are assets of a club and the club owns their contracts that there is a value in them; however as stated that value is only there whilst the club are trading and should that business stop trading there is no value whatsoever in those assets to the folded business.. very simple analogy however I hope it explains why there were no riders listed as assets by the liquidator...

The air fence is slightly different as it is a Tangible Asset however it is also what is known as a Depreciating Asset and as such represents how much of an asset's value has been used. Depreciating assets help companies earn revenue from an asset while potentially expensing a portion of its cost each year the asset is in use and it allows for a portion of the cost to be written off against tax. Depreciation is what happens when assets lose value over time until the value of the asset becomes zero, or negligible. Depreciation can happen to virtually any fixed asset, including office equipment, computers, machinery, buildings, and so on hence why the tractor and machinery were mentioned in the liquidators report as they had some value.

Depreciation is intended to roughly reflect the actual consumption of the underlying asset, so that the carrying amount of the asset has been reduced to its salvage value by the time its useful life is over and you can sell a depreciated asset, however any profit relative to the item's depreciated price is a capital gain. ... So if you have wrote the item down against a tax liability over a period for example, to write down the cost of the Tractor to nothing and then you sold it for £1200, the entire selling price would be a taxable gain.

So every asset has a useful life, which is an accounting estimate of how long that asset will last. ... This continues until the asset is fully depreciated. Assets get depreciated down to zero or to their salvage value, which is what the company thinks it could get for the asset at the end of its useful life and unless you had a trade in making Elephant condoms I am not sure what you would do with an Air Fence after 10 or so years. Although the amount of times that one has been punctured at Brough I am not sure Elephant condoms would be the best use for it.

One simple example is that we have just bought a New VW Transporter for the business at circa £25k and our accountant writes these vehicles down by £5k each year so by year 5 with around 150k miles on the clock these vans are rated as being worthless to the business and if a liquidator came in tomorrow he would spend a couple of hours marketing the van and selling it for say £18 or £20k however if we went pop 5 years from now that van would be scrapped with a 2 minute phone call for £100 pounds as why would a liquidator whose fees are anything from £200 to £2000 pound per hour spend any more than a 20p phone call to get rid of it.

So long response to a simple question; however an air fence which cost about £20k around 7 or 8 years back will have been well and truly written off by now and if the club had of went down the pan the liquidator would probably say to anyone who wanted it to take it to save him the cost of disposing of it.

Wey hey Wee Nonce Troll McTrollface is back and doesn't understand what he has read and what the Eck he is on about as usual... lets just say if leaving the club with "a debt to HMRC of £158,048" which has been made reference too by the liquidator doesn't show the “mess” left by the previous promotion and that this debt does still exist? and if the collapsing of the old business by the new one doesn't also show that the “mess” left by the previous promotion existed I don't know what more information you require? you need to crawl back under that rock Biffa...

Elephant Condom for @Wee Eck to stick his massive tool of a head in please...

Regards
THJ

I don’t usually waste my time but, as it is Christmas:

Mr Courtney, it is my opinion, shared by many I know, that you are the biggest waste of space that walks the earth. 
Your negativity is only exceeded by your ignorance and Newcastle speedway is far better off since you were given the bum’s rush by its owner. 
Apparently

 

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1 hour ago, Diamondboy said:

Enjoying this popcorn.

You must get thru some popcorn in your hoos? ;)

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2 minutes ago, ruffdiamond said:

You must get thru some popcorn in your hoos? ;)

1 hour ago, Diamondboy said:

Enjoying this popcorn.

Don't forget the hog roast or hot dogs off Robs catering van.. top quality scran 

 

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2 minutes ago, Justgotmecpc said:

 

Totally agree,,, but not only off the van, locally produced stuff available all year round,,, support local business and stop filling the pockets of the billion pound companies just selling sh!te. It may mean getting a cook book out, but give it a go. :t:

Bet you know how to cook books? ;)

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Never a good time to announce the passing of a dear friend ( ken Davies ) who sadly passed away on the 11/12/2021.. ken was a avid supporter of the diamonds also an incredibly hard working former member of the Newcastle speedway supporters club committee & it's down to ken how the speedway club were allowed to be able to hold functions at the south gosforth club.. R.I.P ken you'll be greatly missed on the table near the speedway office every Sunday mate 

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18 minutes ago, ruffdiamond said:

You must get thru some popcorn in your hoos? ;)

Only when I read this thread, lol

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4 minutes ago, ruffdiamond said:

Totally agree,,, but not only off the van, locally produced stuff available all year round,,, support local business and stop filling the pockets of the billion pound companies just selling sh!te. It may mean getting a cook book out, but give it a go. :t:

Bet you know how to cook books? ;)

Say noot on the books man as I'm sure my accountant is or was yours lol & yip all year round support Robs business 

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10 hours ago, Justgotmecpc said:

Big gamble as I was told about lee being linked at the beginning of November  down at Scunthorpe after he's bought a couple of SWR tuned bikes so there won't be nothing wrong with the bikes performance wise so if he can set the stall out quickly & get race fit he should easily maintain the 6 point average

 

8 hours ago, Sings4Speedway said:

Equipment sounds like its up to task  if its maintained ok but a 6 point average is huge considering Wright returned on a 4.00. If Complin can do what Wright achieved last season i would consider that a mega comeback but maintaining a 6 feels like dreamland.

Has Complin been given a 6.00 ave?

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