Madrox Ltd



Did they not change the accounting period, and as a result gained some additional time before accounts had to be filed.
Yes the first accounts lasted for only 3 months, but that was probably just to bring it into line with the football season. Year end is now 31 July 2019.
I feel they are treating the fans like mushrooms
 

Then as a club and and fanbase (on here anyway) - we're f*cked.

God knows I've been critical of some of their decisions over the past year, but the disconnect here is pretty awful compared to last season.

I hope to god this is 'rock bottom' for us and we invest in the January window and bring back some trust / hope, because otherwise we'll be here (or worse) for years.
 
So your underlying assumption about the club / owners is that they're so untrustworthy that even when they make unequivocal statements you assume they're being "deliberately misleading"?
They have made a number of unequivocal statements. Which one are you referring to?
 
At this point I'm not sure what lies have actually been said by anyone connected to the club.

This whole thing has been whipped up and frenzied to the point I can't actually see any evidence for the levels of paranoid comments, they have cut costs and are now seeking investment as they said they would, it remains unclear if Stewart Donald has actually put any money into the club but we won't know that until the accounts are released.

Aside from that people seem to have just said something enough times that it's become the truth.
 
At this point I'm not sure what lies have actually been said by anyone connected to the club.

This whole thing has been whipped up and frenzied to the point I can't actually see any evidence for the levels of paranoid comments, they have cut costs and are now seeking investment as they said they would, it remains unclear if Stewart Donald has actually put any money into the club but we won't know that until the accounts are released.

Aside from that people seem to have just said something enough times that it's become the truth.
Plenty that's been said about them wouldn't have been if we weren't so poor on the field imo.
 
Plenty that's been said about them wouldn't have been if we weren't so poor on the field imo.

That's the crux of it, it's another stick to beat them with.
I remember when the mags were doing well under Hall and Shepherd, and even the Journal was printing quotes from financial analysts saying that the owners were taking share dividends 10 times the normal amount based upon the clubs profits.

Nationals printed stories about how family members were on the payroll, about how a relative of Shepherd was getting paid hundreds of thousands per year to store merchandise for the club - and not a peep from the fanbase until they were about to go bust.

It's on the pitch we need to turn this around, the next transfer window can't come fast enough.
 
That's the crux of it, it's another stick to beat them with.
I remember when the mags were doing well under Hall and Shepherd, and even the Journal was printing quotes from financial analysts saying that the owners were taking share dividends 10 times the normal amount based upon the clubs profits.

Nationals printed stories about how family members were on the payroll, about how a relative of Shepherd was getting paid hundreds of thousands per year to store merchandise for the club - and not a peep from the fanbase until they were about to go bust.

It's on the pitch we need to turn this around, the next transfer window can't come fast enough.
So you'd be happier if we followed their example instead of questioning their highly questionable modus operandi?
 
to be fair, why hide the accounts until next year?

hide accounts ? Where the hell do you get such a cynical attitude from.
Organisations publish accounts at a point in time, once a year with periodic updates. People submit their tax return every year.
This organisation is their business alone anyway, I assume it’s simply a holding limited company to avoid them as owners being personally liable for the operation of the club.
There will not be a club owner who is not funding a club through a limited company. Someone on here will explain it better than me
I wouldn't believe a word that comes out of their mouth at the moment.

The irony is they have tried to hard to please, opened up and said to much. Should have kept their mouths shut so people couldn’t misconstrue and take out of context.
lesson to all future owners... don’t trust the fans. So keep your mouth shut.
 
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Yes the first accounts lasted for only 3 months, but that was probably just to bring it into line with the football season. Year end is now 31 July 2019.
I feel they are treating the fans like mushrooms

To make the year end coterminous with the rest of the group (ie Sunderland). It's absolutely standard practice in groups because, trust me, having even one company out of line is a complete pain in the arse to sort out when you try to consolidate the results in the holding company.
 
So you'd be happier if we followed their example instead of questioning their highly questionable modus operandi?

I never said that, and a level of skepticism in life is healthy.

However, having a fully formed opinion based upon nothing more than an assumption backed up by "I don't believe anything he's said" without having a a shred of proof either way is the stuff of conspiracy theories.
 

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