Sarbjot Back at the Mazuma

[KenH]

Also no depreciation deducted from Tangible Assets despite the Accounting Policies statement mentioning a 25% rate for computer equipment.

And the number of employees at 2 seems low for a business that has generated a bank balance of over £5 million and enabled £3.7 million to be spent on Tangible Assets.

If it had made a profit to generate those reserves, there'd be a current liability on the balance sheet (being corporation tax on that profit). More likely it's not "reserves" at all but a loan put in which should be shown as a liability, especially given those two legal charges lodged at Companies House which are for loan(s).

[Gone_Shrimping]

Also no depreciation deducted from Tangible Assets despite the Accounting Policies statement mentioning a 25% rate for computer equipment.

And the number of employees at 2 seems low for a business that has generated a bank balance of over £5 million and enabled £3.7 million to be spent on Tangible Assets.

If it had made a profit to generate those reserves, there'd be a current liability on the balance sheet (being corporation tax on that profit). More likely it's not "reserves" at all but a loan put in which should be shown as a liability, especially given those two legal charges lodged at Companies House which are for loan(s).

In my hayday I was producing on average 2 or 3 Balance Sheets a week , a mixture of limited company ones and sole trader ones and I have never seen a balance sheet like the one that has been filed by Sarbjot. It looks like someone has played about with a calculator and made figures up !

I file several sets of accounts online at Companies House every year and as long as the format complies with their system that's all they require.

[redrobo]

By the info provided by GS....it looks to me that once again that Sarbjot is being economical with the truth and wants to fool certain individuals that all is well.

One of our Co Chairman I believe is an accomplished accountant so let's hope he is aware of the mind games and the somewhat fictional accounts that Sarbjot is trying to use to buy our club.

I've said it before but I don't trust Sarbjot on anything he says or does. In short....I wish he'd simply p*ss off.

He's a con artist and we should have nothing to do with him.....BUT it's Jason's call and he will get rid to whoever will give him the money .....unfortunately the two of them are tarred with the same brush...

[twosheds]

Regardless of what we think...if Johal can prove he has the financial clout and passes the guidelines laid down by the EFL and Bond Group are willing to sell to him...we have very limited persuasive powers. It also depends how desperate Bond group are to off load the club.

Here's hoping the strong statement from our board will stimulate bids from any other interested parties....

[Billy bodger]

By the info provided by GS....it looks to me that once again that Sarbjot is being economical with the truth and wants to fool certain individuals that all is well.

One of our Co Chairman I believe is an accomplished accountant so let's hope he is aware of the mind games and the somewhat fictional accounts that Sarbjot is trying to use to buy our club.

I've said it before but I don't trust Sarbjot on anything he says or does. In short....I wish he'd simply p*ss off.

He's a con artist and we should have nothing to do with him.....BUT it's Jason's call and he will get rid to whoever will give him the money .....unfortunately the two of them are tarred with the same brush...

Nailed your colours to the Shrimp!

If the original bid is still in place or a new bid submitted, let’s hope the League look into this with a fine tooth comb. Accounts are what they are
Has Sarb Capital changed their name?

[black morse]

As far as we are aware the EFL did not 'fail' the fizzy drinks man but were awaiting further details from him. That was months ago! I certainly hope (and expect) the EFL will take due care with this guy if he applies again or attempts to take up his original application.

Whilst it's temping to fall into the trap of thinking that, as things look desperate, we must accept anybody with money I can't see anything but misery again if he took over.

[Gone_Shrimping]

As far as we are aware the EFL did not 'fail' the fizzy drinks man but were awaiting further details from him. That was months ago! I certainly hope (and expect) the EFL will take due care with this guy if he applies again or attempts to take up his original application.

Whilst it's temping to fall into the trap of thinking that, as things look desperate, we must accept anybody with money I can't see anything but misery again if he took over.

Unfortunately "we" don't get any say in accepting anybody. The only person with a say is Jason on behalf of the shareholder/owner Bond Group Investments Limited.

[black morse]

As far as we are aware the EFL did not 'fail' the fizzy drinks man but were awaiting further details from him. That was months ago! I certainly hope (and expect) the EFL will take due care with this guy if he applies again or attempts to take up his original application.

Whilst it's temping to fall into the trap of thinking that, as things look desperate, we must accept anybody with money I can't see anything but misery again if he took over.

Unfortunately "we" don't get any say in accepting anybody. The only person with a say is Jason on behalf of the shareholder/owner Bond Group Investments Limited.

Sorry GS I should have used the word 'welcome' instead of 'accept'.

[John L]

https://www.beyondradio.co.uk/news/local-sport/businessman-linked-to-takeover-of-morecambe-fc-returns-to-watch-club/

[Billy bodger]

Has Sarb Capital borrowed money from Brindley Capital and therefore they now have the capital to buy Morecambe FC. Trying to make head of tail of the paper trail is not easy. Can anyone decipher what’s going on?

[Gone_Shrimping]

Has Sarb Capital borrowed money from Brindley Capital and therefore they now have the capital to buy Morecambe FC. Trying to make head of tail of the paper trail is not easy. Can anyone decipher what’s going on?

There are 2 charges registered against Sarb Capital at Companies House which suggests that there is indebtedness to Brindley Capital. If these are loans then that balance sheet filed by Sarb should show the loans as outstanding in liabilities and it is showing nothing at all for any liabilities.

[fulwoodshrimp]

If this is a second attempt to buy the club it surely is doomed to failure as the source of the finance is still shrouded in mystery and unexplained. It’s the last thing the club needs as the potential ownership drags on.

[Billy bodger]

Who would borrow millions? (HOWEVER MANY) as it seems and Then go and buy Morecambe FC? WHY? Why would they do that?

I’m only asking because if Sarbjot Johal’s appearance was only a nostalgic trip back to the Mazuma and there is nothing more to it than that, we can stop bothering about it.

Maybe he’s turned his sights on Stockport!!

However if he believes he can take Morecambe FC forward and does, he will have proved the sceptics wrong and that’s will be all well and good if that’s how it pans out.

If it’s something else then, WHAT?

[Phoenix Shrimp 2017]

We’re they in the directors box? Seems strange that Sarbjot and his entourage were therein if the Directors didn’t have some kind of faith in them?

Lemos and Cala didn’t last last long in that vicinity once they were outed as frauds.

[mrpotatohead]

Is it possible that Sarbjot , who has invested £200,000 in the club , when we were desperate for cash, was actually accompanied by other potential investors, who may want to buy the club with him?

[Andy D]

Is it possible that Sarbjot , who has invested £200,000 in the club , when we were desperate for cash, was actually accompanied by other potential investors, who may want to buy the club with him?

Good Shout!

Sarbjot was in a group of 4 in total(like previously) so maybe they're his
Business Partner’s who might be able to pass a fit and proper test?

[vvm]

Presumably the £200k investment has bought him a small stake in the club? Well within his rights to want to come and watch. It's also likely that he either plans on following through with the purchase or recouping his initial investment in some way.

[Gone_Shrimping]

Is it possible that Sarbjot , who has invested £200,000 in the club , when we were desperate for cash, was actually accompanied by other potential investors, who may want to buy the club with him?

Good Shout!

Sarbjot was in a group of 4 in total(like previously) so maybe they're his
Business Partner’s who might be able to pass a fit and proper test?

It looks like a group of 5. Not sure who the 2 people with hats/caps on the left of the photo are.

Maybe there will be another board announcement soon to update the fans with any developments if that is possible.

[Keith]

Presumably the £200k investment has bought him a small stake in the club?

I'd say the £200k investment bought a decent wedge of the club and enough to warrant a free dinner and tickets to the game?

It's the timing that concerns me. Complete coincidence that the board issue the 'no confidence' and 'talk to us' statement, and the following home game, Sarbjot is there, presumably 'talking to us, even if only about the weather'?

[Bare bum]

Did nobody ask him?

Hya, Sarbjot, surprised to see you. What's the plan? What's happening?

[skeletor]

I may be wrong,but I thought that the £200000 had been paid back a while ago!

[shrimpsontoast]

Did the board not recently invite interested parties to come and speak to them directly? Perhaps Sarbjot has simply taken them up on that offer and there is nothing more to report than that? Just a thought

[Andy D]

Is it possible that Sarbjot , who has invested £200,000 in the club , when we were desperate for cash, was actually accompanied by other potential investors, who may want to buy the club with him?

Good Shout!

Sarbjot was in a group of 4 in total(like previously) so maybe they're his
Business Partner’s who might be able to pass a fit and proper test?

It looks like a group of 5. Not sure who the 2 people with hats/caps on the left of the photo are.

Maybe there will be another board announcement soon to update the fans with any developments if that is possible.

pretty sure one is Les Taylor a former Director who is now Life Vice President, who use to sit next to me in C Prem.

I suspect Les would have been looking after them in the directors box.

[Billy bodger]

I may be wrong,but I thought that the £200000 had been paid back a while ago!

Yes I also believe his money was paid back, it was at the same time the Bond Group got their loan back with the nice interest that brought them.

That’s why we couldn’t offer last years team any contracts at the end of last season.

My be one of the other group is from Sarbjot’s money lenders??

Frustrating the Club are saying nothing, I would like to see more open transparent information from them.

[jbc.shrimp]

I may be wrong,but I thought that the £200000 had been paid back a while ago!

I thought it was a case of a share issue for the £200k he put into the club to pay the wages caused by the bank delay.