WITH so much going right on the pitch for Wanderers, no-one wanted to bring attention to the elephant in the boardroom.

Overdue accounts have have hung like a dark cloud over the Macron Stadium for several months since Dean Holdsworth and Ken Anderson’s joint takeover was ratified by the Football League.

Some grace was given by fans to the new owners, given the complexity of the financial situation they inherited and the fact Phil Parkinson’s side had started life in League One so encouragingly.

But that goodwill does not apply to the cold, hard world of accountancy and as Companies House began enforcement action against Anderson and Holdsworth – effectively the final step before legal proceedings are taken – concern has been raised once more among supporters that the dark days are not yet done.

Wanderers maintain they are “aware of the situation” and indications from within the club are that paperwork will be above board before the chairman’s planned Q&A session with supporters on Wednesday, November 23.

The overdue 2015 accounts relate entirely to the previous regime. Why then, supporters may ask, has there been such a significant delay with the papers due initially at Companies House by March 31?

Answers offered from Anderson to The Bolton News have centred on change in accountancy personnel, including the departure of long-time director Anthony Massey, a lack of ready financial information available, and the club’s ongoing discussions with the league.

Anderson freely admits the accounts covering one of the most unstable periods in the club’s history will not make pleasant reading. No surprise there.

What will be of interest when the information hits the public domain, however, is the auditor’s forecast for the following 12 months – the state of the business as a going concern.

Should the auditor highlight significant problems with the business model looking towards the future it may impact significantly on the chances of Wanderers coming out of their transfer embargo, which has been in place for the whole of this year.

Anderson said in September he had been working with the Football League and taken on board their advice when compiling the accounts in order to minimise any problems, but that the papers were “ready to go” and the situation would soon be cleared. Nearly two months later, an article printed by The Offshore Game website forced the issue into the public eye once more.

One issue Companies House cannot affect is the disintegration of the relationship between the two majority shareholders, an issue which has remained largely hidden behind closed doors but was summed up on Saturday as Holdsworth was noticeably absent from the directors’ box.

In July, the former striker stepped away from his role as director of football and has since had little day-to-day contact with the running of the club.

He has declined the opportunity to comment about his situation on the record but confirmed when approached by The Bolton News that he has had no involvement with financial decisions made by Wanderers since the summer.

It is a sad turn of events for Holdsworth, who had fought so hard to buy the club from October 2015 onwards.

His partnership with Anderson was forged at the last moment after an arrangement with businessman Bruce Gordon fell away and left him unable to make the necessary financial guarantees to the Football League alone.

Few would have predicted that post-takeover it would have been former agent Anderson, and not the confident ex-footballer, who would become the public face of the board.

Wanderers remain far from the crisis club which entered 2016 facing the High Court, and significant progress appears to have been made in the last 10 months.

Parkinson has made a dozen signings in what looks a strong squad, with the promise of more to come in January.

Category Two status was maintained for the academy despite a significant extra cost and morale among a restructured club staff is good.

Club businesses such as the hotel are blooming, while season ticket sales have remained extremely steady.

The lack of concrete financial information and the overdue accounts, coupled with the unsteady rapport in the boardroom, mean it is impossible to rest entirely at ease.

Wanderers’ fans deserve to bask in the success of their team, rather than watch over their shoulder.