Accounts out this morning

[Zappa 358]

So the company is in good health?

We should start a Bring Back Chuck campaign!

[Redsox1 1,361]

Fair enough on the player sales, had failed to consider these.

Ill give you that one

Does the fact we now have a squad that must be valued above £10M-£15M come into the picture?

[nacho_nacho_man 477]

Taking into account the quantified salaries, including bonus for first team players and directors / key personnel.

We're spending £5.146m on the remaining 157 employees. On average this works out at £32,777 approx per person...

It would have been interesting to find out the allocated wage resource on our coaching staff (bar Ally).

Edit: Happy to be proved wrong though!

[boss 1,941]

"management takes into account "

...and:

"The auditor should evaluate management's assessment of the entity's ability to continue as a going concern."

So management need to look at the foreseeable future, not necessarily just 12 months (and in the case of a loss-making football club with lots of uncertainties, definitely not just 12 months!), and the auditors need to evaluate that assessment.

You're up a gumtree without a paddle on this mixed-metaphorical exercise.

[Cadman 342]

No but i think a groundsman gets paid £15k per year, someone in the ticket office £10k. Unless we hired an extra couple of hundred people that figure seems extremely high to me.

maybe there are things like employer pension schemes for each individual employee, performance bonuses for ordinary staff etc that have been paid over the year included in the costs.

[Carsons Dog 9,878]

No but i think a groundsman gets paid £15k per year, someone in the ticket office £10k. Unless we hired an extra couple of hundred people that figure seems extremely high to me.

We employ nearly 150 people

[boss 1,941]

i think the AGM should answer forward projections and a hint of current performance, hoping that this will finally nock the doubters in the heid once and for all, hope so anyway

I don't think the directors are allowed to make such profit forecasts per stock exchange rules, although I agree we would all be interested in them.

[five stars 1,636]

Anybody checked the share price today? When a company publishes its accounts, any change in the share prices can indicate what the city thinks of the figures.

[Shuggy 1,308]

Page 10:

"Whilst an operating loss of £14m was made on a turnover of £19.1m in the period, it will not be repeated this season. Turnover in retail this season is

expected to be much higher than the £1.6m received. Operational costs are now significantly lower than they were at the start of the period and additional

revenue streams are being generated. In addition there were exceptional cash costs of £4.2m which will not be repeated."

So was the WiFi, screens and other one-off upgrades included in this £14M operational cost?

[Carsons Dog 9,878]

So the company is in good health?

We should start a Bring Back Chuck campaign!

Too right

He's the man to bring in investment

[mitre_mouldmaster 21,509]

...and:

"The auditor should evaluate management's assessment of the entity's ability to continue as a going concern."

So management need to look at the foreseeable future, not necessarily just 12 months (and in the case of a loss-making football club with lots of uncertainties, definitely not just 12 months!), and the auditors need to evaluate that assessment.

You're up a gumtree without a paddle on this mixed-metaphorical exercise.

God, I wish I had picked a source that was easier to cut and paste from!

"Management may need to consider a wide range of factors relating to current and expected profitability, debt repayment schedules and potential sources of replacement financing before it can satisfy itself that the going concern basis is approporiate."

i.e. they can encorporate the use of a bridging credit facility in the plan. Does not mean that the auditors are saying we will break even in 2014-2015.

"Since the degree of uncertainty associated with the outcome of an event or condition increases as the event or condition is further into the future, in considering suc hevents or conditions, the indications of going concern issues will need to be significant before the auditor considers taking further action"

i.e. if the auditor feels the management could get a bridging finance package to tie them over till they get back to the top division and european revenue, then they would not challenge the self diagnosed 'going concern' declaration beyond that of the 12 months.

There is nothing in the accounts saying or indicating that we will be 'break even' in the next 2 years.

[trublusince1982 768]

Break even - was an opinion ! ! We are and have reduced costs - we will increase revenue and we will have no ( or different) one off costs - but as I said it's an opinion

we will have one off cost to refurbish edmiston and whatever is to happen with the carpark. we will also be looking for a transfer kitty not a one of cost but still needs to be worked in

[gogzy 31,195]

Yes, we can continue for the foreseeable future and certainly way beyond season ticket renewal date.

This is all I needed to hear.

[simplythebest 11,453]

This is all I needed to hear.

Not everyone sadly gogzy, a brief glimpse at FF shows that the accounts are being spun into proving the doom mongers right.

[Jimfanciesthedude 24,504]

Page 10:

"Whilst an operating loss of £14m was made on a turnover of £19.1m in the period, it will not be repeated this season. Turnover in retail this season is

expected to be much higher than the £1.6m received. Operational costs are now significantly lower than they were at the start of the period and additional

revenue streams are being generated. In addition there were exceptional cash costs of £4.2m which will not be repeated."

So was the WiFi, screens and other one-off upgrades included in this £14M operational cost?

i thought that was certain payoffs to certain people

[Gillete 1,338]

Any idea now when the AGM will be ?

[Jimfanciesthedude 24,504]

Not everyone sadly gogzy, a brief glimpse at FF shows that the accounts are being spun into proving the doom mongers right.

well dont forget that those across there planned on taking 16mill out of the figures for some reason

so were fucked apparently

[trublusince1982 768]

Really?

Retail

Sponsorship

Ticket sales

Corporate

Media

they are all far lower than in the years before.

tickets sales is fair enough with the reduction in price.

Gate Receipts and hospitality £24.2m

Sponsorship and advertising £2.835m

Broadcasting rights £5.133m

Commercial £5.633m

Other income £1.875m

Total £39.7m

2013 was

Gate Receipts and hospitality £13.2m

Sponsorship and advertising £0.8m

Broadcasting rights £0.7m

Commercial £0.9m

Other income £1.705m

Total £19.1m

sponsorship and advertising down over 2m

broadcasting down £4.3m

commercial down £4m

what is it you see in the accounts that are positive?

[gogzy 31,195]

Not everyone sadly gogzy, a brief glimpse at FF shows that the accounts are being spun into proving the doom mongers right.

I didn't doubt that happening for a second mate.

I was waiting on Boss, he is my man in the know when it comes to financial matters.

If he is telling me we are not going bust, we own Ibrox and are solvent for the forseable future then I am happy at that.

[RFC55 108,733]

The clubs official photogropher earns 27k a year. He has 2 understudys or did it may be one now. Tbh I think that's a fair amount given the amounts photographers can make.

I'm saying 27 it may be 21 but it's one if those 2 I just can't mind what he said

[Paisleybear1872 136]

I didn't doubt that happening for a second mate.

I was waiting on Boss, he is my man in the know when it comes to financial matters.

If he is telling me we are not going bust, we own Ibrox and are solvent for the forseable future then I am happy at that.

I understand your feeling. But surely that is no where near the benchmark for a satisfactory boardroom?

[elephants stoned 2,994]

Any idea now when the AGM will be ?

Is it not 31st October? Halloween

[Getstiffed 8,863]

they are all far lower than in the years before.

tickets sales is fair enough with the reduction in price.

Gate Receipts and hospitality £24.2m

Sponsorship and advertising £2.835m

Broadcasting rights £5.133m

Commercial £5.633m

Other income £1.875m

Total £39.7m

2013 was

Gate Receipts and hospitality £13.2m

Sponsorship and advertising £0.8m

Broadcasting rights £0.7m

Commercial £0.9m

Other income £1.705m

Total £19.1m

sponsorship and advertising down over 2m

broadcasting down £4.3m

commercial down £4m

what is it you see in the accounts that are positive?

Dropping four divisions was not the fault of the incumbent board.

[gogzy 31,195]

I'm in the same boat. The accounts are as clear as mud to me. It doesn't help when you have dozens people on here playing amateur accountant, trying to pick them apart and put their own slant in. I have 3 questions

How much money did we take in in total?

How much money did we spend in total?

What is our current balance?

Listen to Boss mate, he isn't an "amateur".

[RFC55 108,733]

I didn't doubt that happening for a second mate.

I was waiting on Boss, he is my man in the know when it comes to financial matters.

If he is telling me we are not going bust, we own Ibrox and are solvent for the forseable future then I am happy at that.

Indeed i would say the same, but I think it's also worth looking out for the law man and forlanssister providing input. Out of most those are the 3 who are seemingly well clued up.

I did say no matter what the accounts turned out to be it will be spun on either side. This thread is proof of that.

The results are better than I expected but still questions arise from these.

Luckily I'm not clever enough to ask these questions but I'm sure others will. I still think they should go but I did point out why yesterday which had virtually nothing to do with accounts as I pointed out to you.

I'm just wondering can this board really secure extra share money? Will institutional investors really invest again? That's my main worry but the accounts aren't too bad thankfully.

Ftp