King's Lynn face six week tax deadline
Paddy Davitt King's Lynn have won a six-week reprieve to clear the club's �65,000 Inland Revenue debt. A High Court hearing in London adjourned the club's compulsory winding up petition until November 25.
King's Lynn yesterday won a six-week reprieve to clear the club's �65,000 Inland Revenue debt. A High Court hearing in London adjourned the club's compulsory winding up petition until November 25.
Registrar Derrett warned Lynn's newly-appointed finance director David Handley the Linnets must pay off the outstanding �65,209 debt in full by that date - or face the prospect of being wound up and placed in the hands of the Official Receiver.
Lynn's board had previously paid �37,000 of the original tax bill and Handley assured the hearing he expects to secure further funding in the agreed timeframe to clear the balance.
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Chairman Ken Bobbins reiterated the club's hierarchy is confident of meeting next month's High Court deadline imposed on behalf of Her Majesty's Revenue and Customs.
“We are comfortable that the amount will be cleared,” he said. “We expected this outcome but we are pleased to get the adjournment and confident of making the repayments within the new agreed period. We've brought David in recently and alongside the finance he has actually put into the club we also have his professional expertise. He's a qualified chartered accountant and he is going to be a real asset to us.”
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Bobbins confirmed Handley will now oversee the club's financial affairs and revealed Lynn's board are in preliminary discussions with another potential new director.
“Talks are at a very early stage but we feel bringing in someone else would get us back up to a decent strength at boardroom level,” said Bobbins. “It has been a very difficult time for the remaining board members but we have to get the right people to come in and we won't rush that process.
“I'd been talking to David for a good six weeks and he was keen to get involved with a football club. He liked what he had seen at King's Lynn and he's now in the process of preparing a new set of accounts and taking on all the club's financial matters.” Lynn skipper Andy Boyce has been linked with Championship new boys Leicester but Bobbins insists the board is in no rush to offload its best young talent to help boost the club's coffers.
“We know that other sides will watch our players,” he said. “In some respects maybe the lads themselves see King's Lynn as a place where they can get careers up and running again - but I certainly don't expect any movement this side of Christmas, partly because of the confines of the transfer window but also because nowadays these higher level clubs are prepared to watch players for a much longer period.”
Bobbins also praised his young boss Carl Heggs for guiding Lynn up to third in the Unibond Premier after a turbulent beginning to the manager's tenure.
“I'm absolutely delighted things are coming together and so pleased for Carl because he has done a tremendous amount of work this season,” said Bobbins. “He has had so much to deal with but we have a good, young side and an exciting future. At Kendal we fielded eight players aged 20 or under. If we can keep the basis of that side together then we can move forward.”