| Management charges 15:18 - Mar 30 with 759 views | this_charming_man |
interesting on Saints latest set of accounts there is a paragraph late (copied below) which says saints were charged £366k in Management charges by Southampton Football
Sports Development Co. Limited. Does anyone know if this is normal or what it would relate to?
"Management charges of Ê366,000 (2018: 1322,000) were issued during the year by Southampton Football Sports Development Co. Limited to St Mary's Football Group Limited. The two parties are related by viÉue of common control. All transactions were conducted on an arm's length basis on normal trading terms. At 30
June 2019, €397,000 (2018: Ê31,000) was owed by St Mary's Football Group Limited." |  |
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| Management charges (n/t) on 15:52 - Mar 30 with 727 views | DellHero |
[Post edited 9 May 2020 20:22]
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| Management charges on 17:02 - Mar 30 with 665 views | DorsetIan |
The next note in the account confirms that Southampton Football Sports Development Co Limited is the ultimate holding company in the BVI...
"32. Gontrolling party
Lander Sports (UK) lnternational lnvestment Co. Ltd is the immediate parent company and smallest group in which the results of the Company are consolidated. Lander Sports (UK) lnternational lnvestment Co. Ltd is incorporated in Great Britain and the consolidated accounts of this company are available to the public and may be obtained from Companies House, Crown Way, Cardiff , CF14 3UZ. The largest group in which the results of the Company are consolidated is that headed by Southampton Football Sports Development Co., Limited, which is incorporated in the British Virgin lslands."
On the face of it this is a charge for 'management' done by the holding company on behalf of St Mary's Football Group, and charged for on an arms length basis. The money hasn't actually been paid to the holding company as the note you referred to says it remains outstanding as a debt.
Intra company charges between different parts of a group are not unusual and in the grand scheme of things, this is pretty small beer. [Post edited 30 Mar 2020 17:03]
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| Management charges (n/t) on 19:23 - Mar 30 with 598 views | DellHero |
| Management charges on 17:02 - Mar 30 by DorsetIan |
The next note in the account confirms that Southampton Football Sports Development Co Limited is the ultimate holding company in the BVI...
"32. Gontrolling party
Lander Sports (UK) lnternational lnvestment Co. Ltd is the immediate parent company and smallest group in which the results of the Company are consolidated. Lander Sports (UK) lnternational lnvestment Co. Ltd is incorporated in Great Britain and the consolidated accounts of this company are available to the public and may be obtained from Companies House, Crown Way, Cardiff , CF14 3UZ. The largest group in which the results of the Company are consolidated is that headed by Southampton Football Sports Development Co., Limited, which is incorporated in the British Virgin lslands."
On the face of it this is a charge for 'management' done by the holding company on behalf of St Mary's Football Group, and charged for on an arms length basis. The money hasn't actually been paid to the holding company as the note you referred to says it remains outstanding as a debt.
Intra company charges between different parts of a group are not unusual and in the grand scheme of things, this is pretty small beer. [Post edited 30 Mar 2020 17:03]
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[Post edited 9 May 2020 20:22]
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