As we look forward to a summer full of sporting events such as the Olympics, EURO 2012, Wimbledon, and the Test Match Series, LUST have decided to have a competition for our members who, during the Summer will be travelling the lengths and breaths of the world on their holidays. You are inviting to submit photos from any location which must include the LUST logo (see picture below) or reference to L.U.S.T. in some way. Entries should be submitted by email to [email protected] by 31st July 2012, they will be judged on style, content, humour and originality by the Trust board with 1st, 2nd and 3rd prize winners receiving Trust T shirts and merchandise. please log in to view this image Good Luck to All Cozer please log in to view this image Lust T Shirts from £5 At the request of Gary Cooper T-shirt prices have been slashed in price. We've managed to strike a new deal with the printers allowing us to charge a lot less. This means we'll have to sell a lot of T-shirts to make any profit but Gary thought the price was too high. (if only all chairman thought like that) Adults shirts will now be £6.50 junior £5. All those that have paid the higher price will be refunded the difference ASAP. http://lufctrust.squarespace.com/lust-stuff-links/ Questions and Answers section for L.U.S.T http://www.not606.com/showthread.php/136175-Questions-and-Answers-section-for-L-U-S-T LUST responds to the Bates court case http://www.not606.com/showthread.php/140140-L-U-S-T-Reaction-to-Ongoing-Court-Case please log in to view this image LUFC ACCOUNTS: UPDATE ON CONTACT WITH BAKER TILLY please log in to view this image TUESDAY, MAY 22, 2012 AT 10:55PM In April, the Leeds United Supporters’ Trust board wrote to Baker Tilly, the company that audited Leeds United’s most recent set of accounts. We wanted to bring their attention to several errors that a number of our members, who have a background in professional finance, had identified in the account documents. Copies of our letter were also sent to Shaun Harvey and Companies House. Baker Tilly replied on 23rd April, noting that we had copied our letter to Shaun Harvey and stating that for “professional and legal reasons, it is not appropriate for us to enter into correspondence with shareholders or stakeholders.” We have attempted to contact Baker Tilly by telephone to clarify the situation but without success, and have not received a reply from Shaun Harvey or from Companies house as yet. We still feel that what appear to be numerous errors in the accounts are cause for concern, and so in accordance with our letter to Baker Tilly we are now sharing our findings with our members. This is a copy of the letter we sent to Baker Tilly on 10th April. Mr. Andrew P Allchin Baker Tilly UK Audit LLP 2 Whitehall Quay Leeds LS1 4HG 10th April 2012 Dear Sir Leeds City Holdings Limited and Subsidiaries We write on behalf of our members who are significant stakeholders in Leeds United Football Club. We have undertaken a review of the financial statements of the above named company (and its subsidiaries) for the year ended 30th June 2011 and invite you to comment on our findings before we report them to our members. Leeds City Holdings Limited The group balance sheet discloses creditors due within one year as £15,810,000, however note 13 states this figure is £15,807,000. The consolidated cash flow states ‘net cash inflow/ (outflow)’. There is no need for the ‘/ (outflow)’ since both periods generated an inflow. Reconciliation of operating loss to cash flow from operating activities should read reconciliation of operating profit/(loss) to cash flow from operating activities Note 10 states that a transfer has occurred from amounts due from group undertakings to fixed asset investments. This implies the prior year comparatives have been restated, why therefore is there no disclosure neither in the directors’ report nor the financial statements of this fact? Note 23 discloses dealings between the company and a subsidiary, Yorkshire Radio Limited, which would appear to indicate that Yorkshire Radio Limited has not been consolidated within these financial statements. If this is the case then why is there a note detailing this? If Yorkshire Radio Limited has been consolidated within these financial statements then why is there no minority interest shown within the financial statements? If Yorkshire Radio Limited owed the company £1,980,516 as at 30th June 2010 why does the balance sheet note only show amounts due from group undertakings of £1,471,100? If Yorkshire Radio Limited owed the company £2,075,711 as at 30th June 2011 why does the balance sheet note show no amounts due? Leeds United Centenary Pavilion Limited The director’s report has a heading for results and dividends but makes no comment on either the result or dividend proposals. Note 12 indicates that the loss for the year was £196,776,000 and that the shareholder’s funds are (£196,775,000). Leeds United Football Club Limited Note 8, Intangible fixed assets does not cast. The total net book value for the year should be £7,060,000 not £7,061,000 if all the individual figures are correct. Note 9 shows a transfer of assets to another group company, however no depreciation has been transferred over. It is logical to assume that this transfer was to Leeds United Centenary Pavilion Limited; however the financial statements of that company (nor any other group company) do not disclose this being the case. Surely such an omission indicates the financial statements do not present a true and fair view? The additions in the year as per note 9 total £3,022,000, however the addition line actual casts to £3,045,000. The leasehold land and buildings cost as at 30th June 2011 is disclosed as £97,000, however the note casts to £120,000. This would suggest that the leasehold land and buildings asset, currently disclosed at £55,000 is misstated by £23,000. Whilst to the balance sheet as a whole this is not a material error, it is material to the understanding of the value of leasehold land and buildings held by the company. Leeds United Media Limited The director’s report makes no reference to results and dividends, even though all other group companies’ financial statements do so. The financial statements contain numerous grammatical and spelling errors, for example on the director’s report, 'loosing' rather than 'losing'. The profit and loss account refers to note 15; however the notes to the financial statements only go to note 13. All the note references on the balance sheet are incorrect, starting with no note reference for the fixed asset investment and all other note references being out by 1. Note 11 discloses a loss of £2,422,000 as opposed to £2,422. Whilst the above can be down to a lack of a final check post late adjustments, it is worrying that the total of £294,598 shown in note 8, detailing creditors due within one year, does not agree with the figure on the balance sheet (£297,448). We also note that the accounts were signed on 15 February 2012 which would have left you 45 days to check these accounts for errors before they were published. Furthermore, note 13 highlights that during the year Leeds United Media was advanced £255,476 from Leeds United Football Club Limited and that as at the year end the balance owed to Leeds United Football Club Limited was £255,476. However the amounts owed in total to group undertakings disclosed within note 8 is only £185,000. Coincidently an amount due from group undertakings as disclosed within note 7 is £255,476. In light of the above do you still stand by your audit opinion, namely that the financial statements: • Give a true and fair view of the company’s affairs as at 30 June 2011 and of its loss for the year then ended; • Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practices; • Have been prepared in accordance with the requirements of the Companies Act 2006? We look forward to hearing from you in due course. Yours Faithfully Gary Cooper Chairman For and Behalf of Leeds United Supporters Trust.
Top work from LUST again Still need to win over more of the fanbase though. Then again with some people it looks like an impossible job. Just had another 'debate' with some on the fb lufc page about LUST, but they just cant get it into their heads that LUST is the way forward
Rome wasn't built in a day, we've just got to keep chipping away. The problem is we really do have to stay middle of the road. We could get loads of support if we were to be more militant. We've got to do things right. Your always going to get those who are blinkered just look at ja606. Just keep spreading the word.
We've got to do things right. -------------------------------- Completely agree Your always going to get those who are blinkered just look at ja606 --------------------------------------------------- some are just ****ers
The unfortunate part of this thread on this forum is that you're preaching to the converted. We don't have anybody on this board who still has faith in the current ownership.
I'm all for LUST and fully support what they are trying to achieve, however there is a need for ACTION, and perhaps this is now.
The action was happening. They stopped the marching and protesting as a gesture to Neil Warnock. As soon as it all goes wrong this will start up again.
LUFC Accounts: Update on Contact with Baker Tilly http://lufctrust.squarespace.com/bl...d: lufctrust (Leeds United Supporters' Trust)
It must be embarrassing for a firm of accountants to sign off such glaring mistakes. Not surprised they're not commenting. Might get the jail!
I would ****ing love it if LUST played a part in any takeover after bates mocked them. Absolutely love it
LUST are in the know because they've had continued contact with any parties involved in a take over. That public announcement they made asking for bidders to get in touch with them was listened to and while they have not been able to reveal any details, they have been quite happy to confirm they've been speaking to potential bidders. The bid currently on the table is likely to be from someone who has the backing of LUST, LUST will have confirmed the funds through the proper channels and will be able to make an announcement as such if it falls through and bates shouts "well they didn't have the money". That means that any takeover bid has the involvement of LUST, showing that LUST only had the best interests of the club in mind and have pulled a blinder in pulling out all the stops to make sure that whoever is in charge of Leeds United takes note of what the fans want for the club. In this case, it was a case of change of ownership. At this moment in time, at least while this has a decent likelihood of going through, I have never been prouder to be a Leeds United fan. A tyrant has stood in the way and we've said "no", stood up to him and are on the verge of taking the bastard down.
Pity LUST can't give any hint as to what progress if any, is being made on takeover thing. Suppose it would only jeopardise the deal. Would be nice to know if there was progress or stalemate though
The Leeds United Supporters Trust will hold its next public meeting from 7.30pm in the bar at The Magic Sponge (Soccer City), Lowfields Road on Wednesday 20th June 2012 http://www.not606.com/showthread.php/150846-LUST-Meeting
LUST UPDATE L.U.S.T. UPDATE: TRUST QUESTIONS AND ANSWERS WEDNESDAY, JULY 4, 2012 AT 10:24PM Over the last few days, Leeds United Supporters' Trust have been deluged with questions and comments from Leeds fans, all wanting news and updates about the ongoing takeover at Elland Road. L.U.S.T. is committed to maintaining an open and honest dialogue with our 7,000 members, and with the Leeds United fan base in general. We are available via email, Twitter, Facebook, on forums, and at our regular public meetings. We do everything we can to reply to everyone who has a question or a comment for us, but the level of interest of late has made it next to impossible to answer everybody who wants to have the latest news. Our social media accounts are run by volunteer members of the L.U.S.T. board, and despite their stoic efforts in recent days and weeks - for which we'd like to publicly record our thanks - it isn't possible for them to individually answer everybody who contacts us. There are certain questions being repeatedly asked that we simply cannot give an answer to. Any announcement about who is involved in negotiations, or when such negotiations will be complete, will come from either Leeds United, or from the "potential investor" that the club announced on 26th June had been granted an exclusivity period while due diligence takes place. At the moment, both sides are prevented from making comments by a confidentiality clause, and we have to respect their right to conduct the negotiations as they see fit. Due diligence can be a long process, and trying to predict how long this might take will be difficult even for those closest to the deal. At L.U.S.T. we have tried to respond to fans with what we feel are realistic estimates for time-frames, but the only concrete news will come when the club or the investor chooses to announce it. We understand and sympathise with the desire for information that is so obviously dominating the thoughts of many Leeds fans. We all want to see a swift conclusion to this situation, so that we can concentrate our energies on what we hope will be a bright future for Leeds United. We hope that the club and its potential investor will be as open with the fans as they can, as soon as they can, while still keeping the conditions in place which will allow them to successfully complete the deal. We would ask all Leeds fans to remember, though, that no answer we can give you will bring the takeover to a conclusion any sooner. The latest known information is that given in the club's statement of 26th June: the club are negotiating exclusively with a potential investor, who are undertaking due diligence at the moment, and a confidentiality clause is in place. We will not have any more definite information than this until the club and its potential investor decide to release that information. At L.U.S.T., we will continue to do all we can to build an ambitious and successful Leeds United for the future, and we hope that Leeds fans will not have to wait too much longer to hear a positive update. We urge you all, in the meantime, to stand together and be patient until there is news to hear.
