Accounts out this morning

[Madina 3,801]

Its an absolute disgrace imo. I said at the time we should have stuck with the young lads and the loyal pro's who stayed (Wallace, Jig, Alexander) until we got to the 1st Division. That amount of money spent for being in the 3rd/2nd Division is shocking, and to quote my friend "no wonder Ally doesn't do walking away"

[Malvern 11,329]

The thing I still want to know is..............what difference would Mini and Co make over the current board?

Would be pure dead awesome mate and no displays of "board out" guaranteed for a few weeks.

[cushynumber 25,178]

Correct, it's a one-off.

ok thanks that's what i thought. Taking this to its logical conclusion, what happens next year when we don't have a negative goodwill as that looks to me to offset a great deal of our losses? Or have I read this completely wrong?

[AlBear. 8,499]

Its an absolute disgrace imo. I said at the time we should have stuck with the young lads and the loyal pro's who stayed (Wallace, Jig, Alexander) until we got to the 1st Division. That amount of money spent for being in the 3rd/2nd Division is shocking, and to quote my friend "no wonder Ally doesn't do walking away"

All he cares about is money.

[RFC55 108,740]

Its an absolute disgrace imo. I said at the time we should have stuck with the young lads and the loyal pro's who stayed (Wallace, Jig, Alexander) until we got to the 1st Division. That amount of money spent for being in the 3rd/2nd Division is shocking, and to quote my friend "no wonder Ally doesn't do walking away"

Tell your friend to learn tupe rules first the thick fuck

[mitre_mouldmaster 21,509]

ok thanks that's what i thought. Taking this to its logical conclusion, what happens next year when we don't have a negative goodwill as that looks to me to offset a great deal of our losses? Or have I read this completely wrong?

We have the £11m in the bank as a buffer for this.

It's the following year where we don't have the buffer that is the problem

We will either need to hugely increase revenue and cut costs, or seek alternative funding. The second being in my opinion the more likely.

[Carsons Dog 9,878]

Tell your friend to learn tupe rules first the thick fuck

Oooooh - get her

[RFC55 108,740]

We have the £11m in the bank as a buffer for this.

It's the following year where we don't have the buffer that is the problem

We will either need to hugely increase revenue and cut costs, or seek alternative funding. The second being in my opinion the more likely.

I genuinely think we will be bought over by then but that's just wee me

[RFC55 108,740]

Oooooh - get her

Well only one set of folk "awarded" themselves the contracts they are/were on

[AlBear. 8,499]

Oooooh - get her

When Rfc52 thinks with his brain and not his cock you know it's getting serious...

[RFC55 108,740]

When Rfc52 thinks with his brain and not his cock you know it's getting serious...

I'm fed up reading about a wage ally gets. He tuped over he was entitled to it. As soon as it hit the year, the board should have approached him and said right we're going to renegotiate your deal.

He's on too much for this level but he doesn't make the law and he didn't award himself the deal

[cushynumber 25,178]

We have the £11m in the bank as a buffer for this.

It's the following year where we don't have the buffer that is the problem

We will either need to hugely increase revenue and cut costs, or seek alternative funding. The second being in my opinion the more likely.

ok thanks-this is essentially what the Ernst & Young guy is getting at then. We don't at this time have a sustainable business model (no surprises there) and are using the negative goodwill this year to cover the scale of our losses and we can keep going with money in the bank while trying to cut cost and increase turnover but inevitably that's not going to be enough- the gap is to big and we will need alternative funding.

Is that a fair summary or too negative?

[AlBear. 8,499]

I'm fed up reading about a wage ally gets. He tuped over he was entitled to it. As soon as it hit the year, the board should have approached him and said right we're going to renegotiate your deal.

He's on too much for this level but he doesn't make the law and he didn't award himself the deal

So...what you're saying is you've had Madina already and don't fancy seconds?

[mitre_mouldmaster 21,509]

ok thanks-this is essentially what the Ernst & Young guy is getting at then. We don't at this time have a sustainable business model (no surprises there) and are using the negative goodwill this year to cover the scale of our losses and we can keep going with money in the bank while trying to cut cost and increase turnover but inevitably that's not going to be enough- the gap is to big and we will need alternative funding.

Is that a fair summary or too negative?

It's a bit unfair to say the negative goodwill adjustment is being used to cover anything. It does make figures sound more positive than they are but the board had to show it.

The operating loss is the important figure and they have not hidden from it.

[mitre_mouldmaster 21,509]

ok thanks-this is essentially what the Ernst & Young guy is getting at then. We don't at this time have a sustainable business model (no surprises there) and are using the negative goodwill this year to cover the scale of our losses and we can keep going with money in the bank while trying to cut cost and increase turnover but inevitably that's not going to be enough- the gap is to big and we will need alternative funding.

Is that a fair summary or too negative?

Oh, I agree with the rest of it though.

[cushynumber 25,178]

It's a bit unfair to say the negative goodwill adjustment is being used to cover anything. It does make figures sound more positive than they are but the board had to show it.

The operating loss is the important figure and they have not hidden from it.

fair enough "used" sound a bit iffy. The negative goodwill mitigates some of our losses somewhat, is probably a more appropriate statement.

[Poetry_In_Blue 1,043]

There will be improved sponsorship deals in the future though as we get stronger in the market, also must take into consideration that there won't be any of the one off payments that had to be made so the two should balance each other out in the long run.

[sergio 1,199]

Its an absolute disgrace imo. I said at the time we should have stuck with the young lads and the loyal pro's who stayed (Wallace, Jig, Alexander) until we got to the 1st Division. That amount of money spent for being in the 3rd/2nd Division is shocking, and to quote my friend "no wonder Ally doesn't do walking away"

It's a pipe dream thinking we could play the kids and a couple of old heads and go all the way up the divisions. The expectations of the fans is far to great at this club to allow that, Nice thought though ...

[legalbeagle 3,734]

It's a pipe dream thinking we could play the kids and a couple of old heads and go all the way up the divisions. The expectations of the fans is far to great at this club to allow that, Nice thought though ...

It is often forgotten that we do need to have a squad that will sell season tickets to fund everything. The excitement around Law and others has helped keep a positive buzz around the playing side, especially after the disappointment of much of last season.

[ZZed 4,510]

Read through these a couple of times and to my pea sized brain it looks as if stability has almost been achieved and growth is next. The spending on one offs should start (will be at present) contributing to the finances. The share price dropped by 2% but this is nothing; if it was bad we would be looking at 15 to 20 % one day drop on the release of accounts. The number crunchers in the city of London will have analysed these numbers and it would have shown in the share price. The last line is each share has earned 2.09p. This says to me growth should be expected over the next 12 month accounting period.

[bluepeter 5,627]

Just read through the accounts (as much as I understand them...) and this thread, and I'm reasonably positive about the accounts. They're not brilliant, nobody expected them to be. They're a hell of a lot better than some people have been telling us they were going to be.

I hope the Rangers fans who have been telling us we're going bust will have a good think about where they're getting their information, and perhaps not be so quick to jump at info from the same places/people in future...

[elephants stoned 2,994]

Just read through the accounts (as much as I understand them...) and this thread, and I'm reasonably positive about the accounts. They're not brilliant, nobody expected them to be. They're a hell of a lot better than some people have been telling us they were going to be.

I hope the Rangers fans who have been telling us we're going bust will have a good think about where they're getting their information, and perhaps not be so quick to jump at info from the same places/people in future...

I agree wholeheartedly BP but i feel your last paragraph is a wee bit optimistic to say the least

[sergio 1,199]

I knew from that flyer on Saturday that the accounts were going to be better than a lot of people expected, hence the line "the accounts can hide many things"

On this board a lot of people refused to pass judgement one way or the other, until the accounts were out. All of the moderators and admin tried to keep the peace by asking people to reserve judgement.

I am pleased that we have money, and the threat of administration was groundless I am however pretty upset at the amount of bonuses and wages paid to some of the board and the management team.

Our season ticket money is paying for those bonuses and that needs to get looked at. I hope this is addressed at the AGM ...

[blue belle 1]

Clarification is needed on how much of those operating costs were one off capital investments and refurbs. Does it include the wifi and screen upgrades?

The answer is probably none. Capital expenditure is not an operating cost & doesn't show in your profit/loss at all. It increases your assets in the balance sheet.

[Sea Bear 283]

Common theme for a while has been that management wages and bonus should be addressed, this was highlighted at the meeting with the fans, apart from the above issue, always had the feeling that the board were confident with what they were going to publish.