Aceslider

One race winner all night ! This can't go on for much longer can it? See Vissing was in the points tonight for the Brummies. What a shame we never got to see him in a Diamonds race jacket.

Totally agree. Only hope he hets fully acquainted with the tight track that is Brough Park before he goes flat out round the boards. We have had our fair share of injuries sustained on Press and practice day in the past. If he got injured early days, that would be a calamity.

"Vandals put paid to Workington’s speedway dreams for 2022" Just read this headline in Cumbriacrack this morning. Sincerely hope that it is old news but I can't see it mentioned in this thread! If it is old news would appreciate moderator pulling my post.

Absolutely cracking post if I may say!!!

This is all getting very personal and maybe the font of all knowledge should write an in depth, no holds barred synopsis of the wicked wrongs committed by the previous promotion. It would only carry any form of credence of course if it is was signed by the individual concerned in their own name rather than the insidious invitations to come and hear it in person as it really was.

Hope that gets sorted out before the meeting starts!

Two spare tickets going if anyone plans to go at last minute. Please just PM me if you are interested.

THJ - I take it all back !!! Yes, good luck to Adam. He could become a real home favourite once he gets to grip with BP.

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"I find your naivety in these matters quite charming" Not naive, just a presumption of innocence until proven otherwise and not by mere heresay!

With respect, we only have your word for that. The filed accounts up to A.P 30 November 2016 (after which Micro company accounts were filed) at Companies House indicate that the company was registered for VAT. This is stated quite clearly in the accounting policy note which states that turnover is declared net of VAT. Such a statement would not be included unless it were true. This means that the company's VAT inputs and outputs would be accounted for through its VAT account and the net liability shown duly paid to HMRC. If the liability were not paid, it would be reflected by an ever increasing liability due for payment to HMRC. No such liability is reflected in the filed accounts. This does not surprise me as (a) I expect the company was paying its liabilities as and when they fell due and (b) because there would probably only be 2 quarters in every 4 (bearing in mind the speedway season) when liabilities arose. It would be inconceivable for a company incorporated in 2003 to trade for such a long period of time as a registered VAT business, not to pay its VAT liabilities. Is that what you are alleging? I would accept that a VAT compliance review might at some stage flag up potential under or over declarations, but this would be perfectly normal in such reviews and can arise for a multiplicity of reasons. This however is not quite the same as the bold statement you make in "not paying the VAT man". In case you were wondering, I am certainly no apologist for the company, but I am very much at odds with the concept of denigrating an individual or individuals until there is some substance to the allegations which so far as I am concerned are totally unfounded.

Personally I don't have a "beloved former leader", but what I do have is full respect for all previous Diamonds promotions going back over the years and latterly including Newspeed 2003 Limited, Newspeed Limited and Whiteload Limited. The link you provide to Companies House website is interesting and relevant in that it demonstrates how diligent Newspeed 2003 Limited has been in dealing with its compliance affairs. It also shows that the company has indeed used the services of a reputable firm of accountants in compiling its annual financial statements. I really see nothing that would in the slightest way sully or besmirch the reputations of those officials who have acted as officers of the company. On the contrary, they appear to have dealt with the company's compliance affairs in a proper and timeous fashion.

Mentioning big numbers in the context of Newcastle speedway, but short on any substance.

Nice one AndyS. Never forget that Martin Scarisbrick ride. The days when Newcastle ruled the shale (well at that level anyway)!

I would be very surprised if the filing of VAT returns (and latterly MTD) was not undertaken by 3rd party accountants based on figures provided by the company. Assuming that to be the case, and given the length of time that the company has been trading, it really is stretching one's imagination to believe that the validation tests the accountants would carry out (turnover reconciliations/cash controls etc) together with HMRC own algorithms would not have exposed serial under-declarations long before now. But maybe THJ is privy to something we don't know?

The company's net assets shown by the last filed accounts at 30 November 2018 only amounted to £25K. The following season one imagines in financial terms would have been "difficult" so it is difficult to envisage any improvement on £25k and probably in reality a reduction from that value. Can't really see HMRC getting too excited in all honesty although they might arguably have a claim ahead of other unpaid unsecured creditors if there are any.

Yes that is a point. Just suppose you took the view that there was no VAT output to declare on sale of the magazine, it doesn't take a maths genius to work out the potential underdeclaration of VAT going back to the point when programmes became magazines, if HMRC did not accept the terminology. Whatever the hypothetical underpayment might be, interest and penalties would then need to be added. Could quickly turn a solvent company into an insolvent one. As you say, could rumble on for a while. I wonder whether they will take the view that there is no point in pursuing given the lack of assets? To a large extent, from the sound of things, it is now academic so far as the new promotion is concerned, which is great news for Newcastle Speedway

Did you mean "matchday magazine" ?

Yes I’m being absolutely serious! HMRC in cases of corporate failure will more often than not work to their own policy of following Code of Practice 9. As I stated in my original post, this is a civil procedure and any unpaid tax liabilities will fall within civil rules determined by the Taxes Acts. They do not prescribe for custodial sentences! Previous posters referred to prison sentences for several sports related people which actually arose through criminal prosecution in totally different circumstances.

Very sad to hear about the apparent demise of Newspeed 2003 Ltd and particularly if , as alleged, there are unpaid sums due to riders. That doesn't sound like the Diamonds promotion who I always believed had a reputation for paying riders on time. What I find concerning is the question over who does the bond held by SCB belong to? If it belongs to Newspeed 2003 Ltd, then presumably it will be available to pay off creditors? Which leads to the question, will Rob's new company have to make a formal application to SCB and stump up some more money for a new bond assuming the application is accepted? I'm surprised that Rob did not start with a new company and simply purchase the assets from Newspeed 2003 Ltd that he needed to avoid any skeletons in the cupboard appearing. Maybe there was a good reason for that, and perhaps it was related to the SCB bond. Personally I don't believe the former directors should have anything to worry about unless someone proves that they have withdrawn funds/value for their own personal benefit without accounting for tax and NI.To the best of my knowledge these matters are normally dealt with under civil rules rather than criminal, hence any talk of jail sentences is really a total nonsense!

When you put in that context, and given that SCB reported incorrect figures (suggesting that even they are confused), I think you have a point

Thanks youngy105. Just checked this out as you suggested. SCB have got it wrong it would appear as their numbers are not the same as yours. Maybe they should get racers and royals to do the arithmetic ?? Thanks for the updates by the way which were great in the absence of access to BT Sport channels

Thank you. Within 60 seconds - that is impressive !!

At least I'm not alone !! Updates site :- BZ 19 TW 16 JD 12 FL 15 SCB site :- BZ 20 TW 14 JD 16 FL 14 Hmmmm??

Discrepancy in scores (Tai/Freddie/Bartoz) between speedway updates site and SCB website. Anybody else noticed and if so, what are the correct scores? If it's reported in previous pages, apologies !!