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rea

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rea last won the day on May 29 2016

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About rea

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  1. rea

    The 3 Monthly Spend

    The Purchase price is set. But you are spending £50K more on the product by putting money in that you could otherwise spent on something else, or saved for a rainy day, and that the Club out of its own resources could fund. It is like buying a house for £1m that needs £50k spent on fixing a roof that is already leaking. Giving the current owner £50K to fix it before you own it thus allowing the current owner to go and buy a Jag instead The wondering in 20 years time when the roof needs fixed again where you can get £50K to fix it
  2. rea

    The 3 Monthly Spend

    Because when I buy a company I don't first build them a new office and then buy it. I buy it and then build the new office
  3. rea

    The 3 Monthly Spend

    *takes deep breath... Thing is on a CBS you can vote to disapply a more complex asset lock, to all except giving the money to the members..... ...in a CIC...however you cannot.... ...I am sure I have one of those CICing (sic) around somewhere....oh wait a minute. ..steps back
  4. rea

    The 3 Monthly Spend

    You missed the how long till I buy you that craft Canada beer you were always going on about!
  5. rea

    The 3 Monthly Spend

    Ok....you just cannot seem to accept that you have no idea what you are talking about. My understanding is what the facts of the lease are. It is a commercial lease from the council at rates appropriate for the facility, councils cannot do "favourable terms" they have to do appropriate terms to pass audit and COI tests The training facility is not a separate company so linking ownership and debt of Ralston is irrelevant. This is the lease bit from the accounts.
  6. rea

    The 3 Monthly Spend

    Para 2 and 3 you want me to post you a copy of the lease? We categorically do not own ralston Para 5. they would sit being able to be spent in 10 years time when ground needs done and SMISA need £150K to do it not £50k contribution
  7. rea

    The 3 Monthly Spend

    Para 1. yes... I cannot think of another club SMFC size with these facilities Para 2 SMFC don't own the facilty Para 3 we don't have that luxury either Para 5 your understanding of what a "saving" is when the future owners are spending £50 is odd
  8. rea

    The 3 Monthly Spend

    Yeah i know what risk acceptance is...it is very little to do with risk to the Funds, but the appropriateness of using money in a different way than what the money was raised for, and as to the rules as to if and how the members can change the uses.
  9. rea

    The 3 Monthly Spend

    Members profit because the value of their shares bump due to the benefit to the balance sheet of the company. Just as you have a Discretionary fund you also have a Restricted Fund, you should not lend from a Restricted Fund one and fund the lending from the other
  10. rea

    The 3 Monthly Spend

    Really...do you know what a balance sheet is? So you agree that SMISA is loaning the money directly to the Club?
  11. rea

    The 3 Monthly Spend

    Eh, the money will be going to the Club.... The Club will buy the asset. do you agree?
  12. rea

    The 3 Monthly Spend

    Finally you admit that the private company benefits...... Thing is the shareholders of that private company are also members of SMISA... I refer you to clause 3 of the constitution which defines the Community Benefit Purpose... 3. COMMUNITY BENEFIT PURPOSE The Society’s purpose is to be the vehicle through which a healthy, balanced and constructive relationship between the Club and its supporters and the communities it serves is encouraged and developed. The business of the Society is to be conducted for the benefit of the community served by the Club and not for the profit of its members. you see where the problem is now? Now i admit the profit is minor but these clauses are there to stop more blatant use and development of conflicts of interest
  13. rea

    The 3 Monthly Spend

    So as you have said above. SMISA money is being used for the benefit of a private organisation. SMISA spend money of a Club Asset, Clubs balance sheet sees the benefit, Club gets to spend more money on paying players, no one extra gets to use the 3G pitch. I hope you are not providing risk analysis for any org i have a relationship with!
  14. rea

    The 3 Monthly Spend

    Except that all of those things are already happening....so what is the "benefit" from the additional money. The Club have already said they will fund it if SMISA do not.
  15. rea

    The 3 Monthly Spend

    Then i think you have misunderstood what "community benefit" means.
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