BDO Enterprises "borrowing' from BICC (BDO Ltd)

[Skewball]

One very very important fact has not been raised yet about the recent published accounts.
One which should cause all County members to demand what is going on immediately - and would probably result in the winding up of BDO Enterprises quickly. It could also mean BICC could get on and move to a different Company and finally we can put the BDO out of it's misery and move on.

For a long time at the end of each year BDO Ltd is owed some money by BDOE £25-£30k which is fine. At the end of these recent accountz 31st May 2019 it was £25k. BDO Ltd also has £88k in the bank, as it had for many years - the culmination of many years of BICC income.
All good. Until you read the Related Party note in the notes of the BDO accounts..

And hey, guess what, after the balance Sheet date BDOE borrowed another £75k....!!!! And still owed it when the accounts were prepared, it 'intended' to repay it in January.
So yes, BDOE has taken all that money out of BDO Ltd, right out of the Counties hands, and they probably used it to pay for o2/prize money etc etc.

Have they paid it back in January?

The members MUST find out! If BDOE can't repay it then the Members/BICC could wind up BDOE easily. And finally get rid of Des and move on under a phoenix company aligned to the WDF (and of course the PDC as rumoured) ...

[devosteve]

Wow. Think I will post on fanatics and see what TT says.

I guess they are allowed to 'borrow' said money?

[Gruntface]

Interesting final statement that the directors intend the balance to be repaid in Jan 2020. Someone should post this on the fanatics page and tag any director who is a member.

[Skewball]

Wow. Think I will post on fanatics and see what TT says.

I guess they are allowed to 'borrow' said money?

they are allowed yes. Whether it is in the spirit of teh relationship between the two entities is another matter.

You can be assured this will not be new news to people like TT. They will have chosen to not shout about it at the moment. They will be acting upon it I am sure.
It just proves how fucked BDOE is and is probably insolvent as we speak

[Ginge]

Skewy, this was mentioned elsewhere. Is this also accurate? See below.....

The biggest legal point I made earlier has been missed. A company director cannot legally receive money outside PAYE for services provided. Uncle Des received £15k which if noticed by HMRC would mean HMRC charge another £15k in PAYE and NIC

[Skewball]

Skewy, this was mentioned elsewhere. Is this also accurate? See below.....

The biggest legal point I made earlier has been missed. A company director cannot legally receive money outside PAYE for services provided. Uncle Des received £15k which if noticed by HMRC would mean HMRC charge another £15k in PAYE and NIC

That doesn't quite stack up to me but would need more info. I would be surprised if he hadn't been taxed on it, and it would not have been another £15k worth.
A minor point I think, and one easily remedied if he did receive it gross rather than taxed at source. I'm not a tax expert though.

[kingp35]

The biggest legal point I made earlier has been missed. A company director cannot legally receive money outside PAYE for services provided. Uncle Des received £15k which if noticed by HMRC would mean HMRC charge another £15k in PAYE and NIC

Assuming UK tax law is the same as Irish tax law, there is absolutely no problem with this. The director can pay tax through their own individual tax return on the 15k income.

[Rout]

What's to stop Desmondo just winding up BDOE and just carrying on with BDO Ltd?

[Skewball]

What's to stop Desmondo just winding up BDOE and just carrying on with BDO Ltd?

nothing at all, albeit temporarily, but you would think the Member would FINALLY have had enough and get rid!

[Rout]

What's to stop Desmondo just winding up BDOE and just carrying on with BDO Ltd?

nothing at all, albeit temporarily, but you would think the Member would FINALLY have had enough and get rid!

The problem is, who else does it? If there was a demand to take the position, Des would have already been removed. Des got the role because noone else wanted it and until someone does that can whip up a bit of enthusiasm, I cant see anyone doing enough to oust him.

[Skewball]

What's to stop Desmondo just winding up BDOE and just carrying on with BDO Ltd?

nothing at all, albeit temporarily, but you would think the Member would FINALLY have had enough and get rid!

The problem is, who else does it? If there was a demand to take the position, Des would have already been removed. Des got the role because noone else wanted it and until someone does that can whip up a bit of enthusiasm, I cant see anyone doing enough to oust him.

No one need replace him. You just need a committee to run the BICC. the WDF will have their new majors in place (hopefully).

[Dellboy]

Nothing will happen because nobody cares. After all that has gone on the inept counties unbelievably haven't called an EGM. Jacklin doesn't give a monkeys chuff so will carry on doing whatever he wants. Someone above mentioned Tommy Thompson he is one to comment given his track record with money management.

An EGM should be called now, the entire board should be slung out. The BDO needs to be wound up. The BICC should fall under their respective country organisations. The WDF need to step up and provide the TV majors. Job done!

[Rout]

What's to stop Desmondo just winding up BDOE and just carrying on with BDO Ltd?

nothing at all, albeit temporarily, but you would think the Member would FINALLY have had enough and get rid!

The problem is, who else does it? If there was a demand to take the position, Des would have already been removed. Des got the role because noone else wanted it and until someone does that can whip up a bit of enthusiasm, I cant see anyone doing enough to oust him.

No one need replace him. You just need a committee to run the BICC. the WDF will have their new majors in place (hopefully).

Noone need replace him, but someone somewhere has to have the motivation to do what it takes to get him removed.

When olly got removed, the William's et al had that motivation as they ended up doing the job. When the William's tenure ended it was because Des had the motivation to make it happen.

[Skewball]

What's to stop Desmondo just winding up BDOE and just carrying on with BDO Ltd?

nothing at all, albeit temporarily, but you would think the Member would FINALLY have had enough and get rid!

The problem is, who else does it? If there was a demand to take the position, Des would have already been removed. Des got the role because noone else wanted it and until someone does that can whip up a bit of enthusiasm, I cant see anyone doing enough to oust him.

No one need replace him. You just need a committee to run the BICC. the WDF will have their new majors in place (hopefully).

Noone need replace him, but someone somewhere has to have the motivation to do what it takes to get him removed.

When olly got removed, the William's et al had that motivation as they ended up doing the job. When the William's tenure ended it was because Des had the motivation to make it happen.

Well the other way is for the Counties to all resign and play under a new banner/company.

Just leave Des to try and sort out the mess and wind up a broke, insolvent shell of two Companies that will be left.
As I said, once the WDF have in place alternative majors then the darts world doesnt lose anything. The home Countries are doing very nicely.

[Tommy Thompson]

This is devastating news, and I must admit I missed this when I downloaded the accounts, so unless the BDO has replaced the money they transferred there is no money to pay the BICC prize money, if they haven't repaid the monies then it indicates there is no money to pay it, with no finance coming into the company or at least no notification from the BDO Board that they have monies potentially available to replace this. So it looks like the cash at the bank of £248,000 in May plus the £100,000 from Limited has gone in the last 9 months. Outstanding invoices, current contract liabilities God only knows where we are, one thing is for certain, this needs addressing immediate with a meeting with the books available, current invoices brought along and contracts with defined companies also available to find out the current state of affairs as of today 2nd March, 2020. So that the company can stop hemorrhaging any more money, and what can be saved "if anything" is done now. I think like many people the figures haven't added up for a long time, but to even contemplate that several years ago we had £700,000+ in the bank a property in London, to find we have hit rock bottom and in a position we will never be able to recover from or indeed find ourselves back to that in the future if there is any sort of future, is as I said devastating after 45 years in the BDO.

[Skewball]

I see Wazza/Ian has resorted to name calling and attacking the poster not the post in Fanatics.
Classy Ian, really classy mate.

[Skewball]

This is devastating news, and I must admit I missed this when I downloaded the accounts, so unless the BDO has replaced the money they transferred there is no money to pay the BICC prize money, if they haven't repaid the monies then it indicates there is no money to pay it, with no finance coming into the company or at least no notification from the BDO Board that they have monies potentially available to replace this. So it looks like the cash at the bank of £248,000 in May plus the £100,000 from Limited has gone in the last 9 months. Outstanding invoices, current contract liabilities God only knows where we are, one thing is for certain, this needs addressing immediate with a meeting with the books available, current invoices brought along and contracts with defined companies also available to find out the current state of affairs as of today 2nd March, 2020. So that the company can stop hemorrhaging any more money, and what can be saved "if anything" is done now. I think like many people the figures haven't added up for a long time, but to even contemplate that several years ago we had £700,000+ in the bank a property in London, to find we have hit rock bottom and in a position we will never be able to recover from or indeed find ourselves back to that in the future if there is any sort of future, is as I said devastating after 45 years in the BDO.

I am genuinely sad it has come to this.

But the warning signs were there (mainly here) for many years.
Too many people ignored the ramblings of a few posters on the forums as 'bdo haters" and nothing more. But we could see the wood for the trees.

As it happens I am impressed with what the EDO etc do, and if the WDF can step up then the future will be ok.

[ILAD]

This is devastating news, and I must admit I missed this when I downloaded the accounts, so unless the BDO has replaced the money they transferred there is no money to pay the BICC prize money, if they haven't repaid the monies then it indicates there is no money to pay it, with no finance coming into the company or at least no notification from the BDO Board that they have monies potentially available to replace this. So it looks like the cash at the bank of £248,000 in May plus the £100,000 from Limited has gone in the last 9 months. Outstanding invoices, current contract liabilities God only knows where we are, one thing is for certain, this needs addressing immediate with a meeting with the books available, current invoices brought along and contracts with defined companies also available to find out the current state of affairs as of today 2nd March, 2020. So that the company can stop hemorrhaging any more money, and what can be saved "if anything" is done now. I think like many people the figures haven't added up for a long time, but to even contemplate that several years ago we had £700,000+ in the bank a property in London, to find we have hit rock bottom and in a position we will never be able to recover from or indeed find ourselves back to that in the future if there is any sort of future, is as I said devastating after 45 years in the BDO.

Shouldn’t have voted him in then eh?

[Ginge]

This is devastating news, and I must admit I missed this when I downloaded the accounts, so unless the BDO has replaced the money they transferred there is no money to pay the BICC prize money, if they haven't repaid the monies then it indicates there is no money to pay it, with no finance coming into the company or at least no notification from the BDO Board that they have monies potentially available to replace this. So it looks like the cash at the bank of £248,000 in May plus the £100,000 from Limited has gone in the last 9 months. Outstanding invoices, current contract liabilities God only knows where we are, one thing is for certain, this needs addressing immediate with a meeting with the books available, current invoices brought along and contracts with defined companies also available to find out the current state of affairs as of today 2nd March, 2020. So that the company can stop hemorrhaging any more money, and what can be saved "if anything" is done now. I think like many people the figures haven't added up for a long time, but to even contemplate that several years ago we had £700,000+ in the bank a property in London, to find we have hit rock bottom and in a position we will never be able to recover from or indeed find ourselves back to that in the future if there is any sort of future, is as I said devastating after 45 years in the BDO.

Shouldn’t have voted him in then eh?

But but but the other bloke had a conflict of interests!!!!

[ILAD]

This is devastating news, and I must admit I missed this when I downloaded the accounts, so unless the BDO has replaced the money they transferred there is no money to pay the BICC prize money, if they haven't repaid the monies then it indicates there is no money to pay it, with no finance coming into the company or at least no notification from the BDO Board that they have monies potentially available to replace this. So it looks like the cash at the bank of £248,000 in May plus the £100,000 from Limited has gone in the last 9 months. Outstanding invoices, current contract liabilities God only knows where we are, one thing is for certain, this needs addressing immediate with a meeting with the books available, current invoices brought along and contracts with defined companies also available to find out the current state of affairs as of today 2nd March, 2020. So that the company can stop hemorrhaging any more money, and what can be saved "if anything" is done now. I think like many people the figures haven't added up for a long time, but to even contemplate that several years ago we had £700,000+ in the bank a property in London, to find we have hit rock bottom and in a position we will never be able to recover from or indeed find ourselves back to that in the future if there is any sort of future, is as I said devastating after 45 years in the BDO.

Shouldn’t have voted him in then eh?

But but but the other bloke had a conflict of interests!!!!

Deserve what the hell they get, social club incompetence.