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WYCOMBE WANDERERS FC LTD R.I.P. (Thursday 12th January 2006) 
The final AGM of the old Limited by Guarantee Football Club (now renamed Trekdream) passed off without major incident on Thursday 12th January 2006. The meeting, conducted before approx 30 members, saw Chairman Ivor Beeks move swiftly through the agenda, closing the meeting inside 15 minutes.The AGM was arranged primarily to table the Financial Statements for the final month of trading between the last set of accounts to the end of June 2004 and the launch of the PLC on 1st August 2004. This also included confirming the final net asset value of the Club as £1.3m, this being significant as this would be used to derive the sum of money available to re-launch Wycombe Wanderers in the event of liquidation of the PLC. The accounts, which were ammended on the night with some minor corrections, are understood to have not included the legal costs of conversion to a PLC up to 31st July 2004. The figure, estimated at around £60,000, has been passed to the PLC where it has been added to further ongoing costs which bring the total cost of conversion to what chairboys.co.uk believes to be in the order of £120,000. The first AGM of the PLC takes place on 1st February 2006 when shareholders of the new company will review activities in the first 11 months of its formation. In that period losses are reported to be close to £1m compared to around half that figure for the year previous to conversion. Click here for all the latest from chairboys.co.uk |
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