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blueyonderbill

Accounts out this morning

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There is more detail in the accounts in general than we have ever seen before. So much for a lack of transparency. (tu)

Just in from the beach and canny be bothered to read 24 pages of financial nonsense. In YOUR opinion, is everything looking on track for the near future?

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Thanks mate and that probably seems a more fair post than some who'd have us think everything is great.

As I say securing more income is the biggest worry for me, I don't know if after a lot of the shite that's happened in the past 4 months we are an attractive investment for those outside the fans as it stands.

Govanblue will be getting us all to dip in to our wallets soon

Don't worry

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Just finished reading it.

While I can't claim to be a business or finance wizard, I personally came away with a sense of optimism. Costs are coming down, and will continue to next year. Profits will rise as the team does. There seems to be a clear plan for moving forward and lots of ideas for future investment and growth in the company.

Feeling good. Feeling content. Wonder how long that will last on here?

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Please don't quote Accountancy Age. It's like quoting the Sun on matters of high finance.

I reiterate, if the board's projections indicated that we would run out of money in 13 months, that does have an impact for the audit report. You were fixated on 12 months. There is no 12 month rule. You now agree.

Right,

We could go on like this forever! Neither of us is backing down, so the only way we will know is in a couple of years time!

I fully hope you prove me to be an idiot, but im bookmarking this so that I can get a cheap shot in if im right! ;)

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Just finished reading it.

While I can't claim to be a business or finance wizard, I personally came away with a sense of optimism. Costs are coming down, and will continue to next year. Profits will rise as the team does. There seems to be a clear plan for moving forward and lots of ideas for future investment and growth in the company.

Feeling good. Feeling content. Wonder how long that will last on here?

(tu)

One thing i did notice though was they kept going on about the players wage bill and how that our biggest expense.

What about the Directors bonuses for winning the third division title which everyone in world football knew we were going to win before a ball was even kicked?

It's about the only thing i can complain about though.

:pipe:

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(tu)

One thing i did notice though was they kept going on about the players wage bill and how that our biggest expense.

What about the Directors bonuses for winning the third division title which everyone in world football knew we were going to win before a ball was even kicked?

It's about the only thing i can complain about though.

:pipe:

I'm waiting for people on here to come across the bit that says we have 50 footballers on the books... uh-oh :unsure:

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One question,

Am I right in saying that none of the 2013-2014 Season ticket money is included in the figures?

None will be in the p & l as turnover, will strictly be in the balance sheet any season ticket money received before 30 June 2013.

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Right, my tuppence worth...

I'm far from an expert and probably don't understand most of it. However some things jump out at me:

£11 Million in the bank including £4.5 Million in this seasons season ticket cash. That leaves something like £6.5 Million (?) of season ticket cash added to that after the accounts date. So a total of £17.5 Million effectively in the bank. It also suggests that we essentially had £6.5 Million left over in the bank after last years operations.

So, we had a loss of £10 Million not including one offs last season. Does anyone have any decent idea of how much that loss is likely to fall to over the next few season (ball park)? The way I see it, we can essentially afford £6.5 Million of losses in the next 2 seasons, before our return to the top division, before reserves (the £6.5 Million left over from last years accounts - which is presumably the IPO cash left overs) are dry and we start to need an overdraft.

So are we likely to go into the top division with a debt or all square?

Secondly, the totals paid to Green, Ahmad, Stockbridge and Ahmad are extremely disappointing. Ridiculous actually. That smacks of head in the trough type stuff. Incidentally, what is Mather on, and do we know what the new reduced salaries of McCoist and Stockbridge will be? For me, Stockbridge will have a lot of explaining to do on this at the AGM.

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That's the whole point - this season we have Puma, Blackthorn, Sports Direct/retail, other sponsorship deals etc. There is likely growth across a number of income streams.

sponsorship is to only grow by 70% next season that is still terrible, as I told you at the time the blackthorn deal was a slap in the face at only £700000 mark. Money from sports direct should already have started by June. Even with the expected growth mentioned they are way low and come nowhere near filling the gap of £14m. I have absolutely no confidence in cost cutting being done by this board as they have failed to do so so far with only costs cut after fans have found out information themselves and demanded cuts. At no time has this board shown by action that they can make the hard decisions and cut costs. We have to drastically improve revenue almost immediately far more than by 70% .we need to double our revenue without incurring any costs or we need to cut costs by at least 40%. This does not include wage rises as we get promotion or any transfer fees we would spend over the next season and a half never mind the one off costs of refurbishing ed house and the carpark.

Our turnover is barely better than a team of hearts stature, that is not acceptable.

Using these figures can you tell me how much each season ticket holder spent on average on merchandising over the season? And also what in house sponsorship is worth per fan each home game?

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None of us are happy with the bonus payments to the directors for winning the 3rd division but now most can see that what has been going on from the non-investors is nothing more than scaremongering pish.

I for one am quite happy with how these numbers look although I would prefer a bit more meat on the bone on our future revenue streams.

We always knew that there were going to be one of costs in this years books that will not be repeated again such as the football debt repayments and the purchasing of Edmiston House and the Albion car park.

And that is before we take into account our legal fees this year alone.

We are in a much better position than we were a year ago and I also firmly believe that we are in a much better position than we would have been with PM's plan to borrow more from ticketus.

Time for people to now accept PM for what he is...... a rabble rouser who's only interest was in getting a place back sucking from the tit as he did before.

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Don't know if STV have that guy fae Ernst and young coming on but their main headline says "warning rangers may run out if money again"

Heard this too. Worrying news. Thought the accounts were good news? I haven't read the previous 25 pages.

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Don't know if STV have that guy fae Ernst and young coming on but their main headline says "warning rangers may run out if money again"

Let us know the context, still in work so cant watch.

I seriously doubt they will be talking about this season.

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Heard this too. Worrying news. Thought the accounts were good news? I haven't read the previous 25 pages.

I don't know. I wasn't starting a new thread with that title. So just fired it in here :lol:

But STV are usually a more balanced bunch so I'll just have to wait and see

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Let us know the context, still in work so cant watch.

I seriously doubt they will be talking about this season.

John McKay said, but there's still a serious concern they could run out of money again.

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John McKay said, but there's still a serious concern they could run out of money again.

Hmm,

Think they will just do very basic maths and say :-

They lost £14m last year, and only have £11m in the bank, therefor they are £3m short.

Doubt they are taking into account the mercahndising deals etc.

I still think the accounts are pretty shitey, but certainly dont think we are in immediate danger. And im the pessamistic one.

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