JCDBigBear 10,831 Posted August 9, 2013 Share Posted August 9, 2013 Reckless speculation ???? money raised from stockmarket float £23M ??? money left in bank £10m all accepted figures and clearly correct as Stockbridge told the meeting that was what was left... thats real knowledge , PANIC feck YES cause we wont have a club again if this continues !!!OK mr expert, list all the expenditure for our perusal. Quote Link to post Share on other sites More sharing options...
Albertz 78 918 Posted August 9, 2013 Share Posted August 9, 2013 So are you saying the club was bought with IPO money?That would be controversialIt was always stated that the money used to buy the club was a loan from day one.Did that money come out of the ipo? hard to say till we see the accounts. Quote Link to post Share on other sites More sharing options...
bornabear 6,209 Posted August 9, 2013 Share Posted August 9, 2013 So are you saying the club was bought with IPO money?That would be controversialNot at all, what I am saying is that ALL the income from last year is called income.The buying of the list I put up is expenditure. Quote Link to post Share on other sites More sharing options...
Redwhiteandblue 3,330 Posted August 9, 2013 Share Posted August 9, 2013 Please read what I have written, "Runaway players" as in Paysmith , Whittaker etc. They were paid from post admin until they left and they were not on reduced pay as at during Admin.No, this bit is a bit deeper, basically income minus expenditure, ie ST's + corporate etc etc, minus wages and other outgoings. This is complex to the ordinary man like you and I, as Corporate Governance is a legal minefield and a good Accountant will do everything to ensure his client pays the minimum tax possible.Naismith etc were paid by oldco, they never got a penny off RIFC. Quote Link to post Share on other sites More sharing options...
scarkev 3,540 Posted August 9, 2013 Share Posted August 9, 2013 There are no experts albeit many seem to think they are. Either that or they are psychic and can predict the details of the audited accounts before they are published....or option c....there are alot of folk who just like to moan and will happily hysterically overreact (just for you Cush ; ) even without any facts! Quote Link to post Share on other sites More sharing options...
Big Al 55 9,281 Posted August 9, 2013 Share Posted August 9, 2013 It was always stated that the money used to buy the club was a loan from day one.Did that money come out of the ipo? hard to say till we see the accounts.No, if I recall correctly that was if the CVA was agreed. Quote Link to post Share on other sites More sharing options...
Redwhiteandblue 3,330 Posted August 9, 2013 Share Posted August 9, 2013 Getting banded about aw over the shop......Exactly why I asked. Seen it mentioned a good few times today. Quote Link to post Share on other sites More sharing options...
Big Al 55 9,281 Posted August 9, 2013 Share Posted August 9, 2013 Not at all, what I am saying is that ALL the income from last year is called income.The buying of the list I put up is expenditure.Ok, should the company have started with £5.5m cash in the bank then? I'm sure you can see not well versed in financials! Quote Link to post Share on other sites More sharing options...
Redwhiteandblue 3,330 Posted August 9, 2013 Share Posted August 9, 2013 No, if I recall correctly that was if the CVA was agreed.No, 8.5m for CVA, 5.5 for newco. Both were loans. Quote Link to post Share on other sites More sharing options...
bornabear 6,209 Posted August 9, 2013 Share Posted August 9, 2013 Naismith etc were paid by oldco, they never got a penny off RIFC.Oh yes they did, they were tupe'd over with the Stadium, Murray Park, History, lock stock and barrel et al.Facts are facts and cannot be argued with. Quote Link to post Share on other sites More sharing options...
Big Al 55 9,281 Posted August 9, 2013 Share Posted August 9, 2013 No, 8.5m for CVA, 5.5 for newco. Both were loans.Cheers Quote Link to post Share on other sites More sharing options...
JCDBigBear 10,831 Posted August 9, 2013 Share Posted August 9, 2013 I dont know but Ill make some up if you want, seems to be popular.Cheered me up mate. I've been attempting to enlighten some people on a number of threads but been getting depressed at the sheer stupidity of some posts. I am now going off-line with a smile on my face. Quote Link to post Share on other sites More sharing options...
bornabear 6,209 Posted August 9, 2013 Share Posted August 9, 2013 Ok, should the company have started with £5.5m cash in the bank then? I'm sure you can see not well versed in financials!No. CG consortium (Sevco at the time) buys Club assets from D&P for £5.5m. CG consortium start new Company (RFC Ltd.), then transfers Club assets to RFC Ltd.. If you buy for £5.5m, how could you have same in bank. Quote Link to post Share on other sites More sharing options...
Malvern 11,329 Posted August 9, 2013 Share Posted August 9, 2013 Second post here so know I will not be seen in a good light however....I have to agree with all those who say wait until the accounts come out, there are too many one offs that are not known like Ed House, Albion CP, player pay offs, Chairman/board/player pay offs, wages, income received and forecasted to make any form of judgement. Not to mention the legal costs of all our days out in court.From what I understand Brian was a lot less than direct last night with his summary of the current state of our accounts (maybe we need a Yorkshire accountant to tell us a spade is a spade!). Still we will see at the end of the month when they are released and they have to as we are now listed.Until then I think we have a panic mentality at times that we are going down the same spend, spend, spend model. Fair play to a lot who see it this way as we have previous and looking at some of the salaries being dished out for our staff are eye watering to say the least, but best to see the whole picture before we go off on one. Quote Link to post Share on other sites More sharing options...
mclovin9091 1,402 Posted August 9, 2013 Share Posted August 9, 2013 The £23M one off costs are taken from the interm results already published. Albion CP and Edmin house cost £2.4M which is part of the 23. Quote Link to post Share on other sites More sharing options...
Big Al 55 9,281 Posted August 9, 2013 Share Posted August 9, 2013 No. CG consortium (Sevco at the time) buys Club assets from D&P for £5.5m. CG consortium start new Company (RFC Ltd.), then transfers Club assets to RFC Ltd.. If you buy for £5.5m, how could you have same in bank.Cheers, thought company may have been started first money put in bank then assets transferred. Quote Link to post Share on other sites More sharing options...
eddiebut 11 Posted August 9, 2013 Share Posted August 9, 2013 Hello, first post.Rather than imagining what is or what will happen should we not just wait for the official accounts to come out.I know it will be another month but then things will be clearer and they may hopefully stop the fan bickering. Quote Link to post Share on other sites More sharing options...
Diuhhivty 11 Posted August 9, 2013 Share Posted August 9, 2013 I am anything but a financial expert as my bank manager can confirm! According to the CRO report posted on here it is quite categorically stated the audited accounts will show 10 million in the bank. That is for the year ended June. Season tickets were not on sale at that point so any reference to being unable to reveal what proportion of the 10 million was season ticket money must surely refer to LAST season. That's how I read it but until the accounts are released I have no intention of getting into a panic over ill-founded rumours especially from those who should know better if they really have the club's interests at heart. Quote Link to post Share on other sites More sharing options...
mclovin9091 1,402 Posted August 9, 2013 Share Posted August 9, 2013 Hello, first post.Rather than imagining what is or what will happen should we not just wait for the official accounts to come out.I know it will be another month but then things will be clearer and they may hopefully stop the fan bickering.Yes it would be much easier to wait a month, but after the 'meeting' the other night this question should have been able to have been answered with a fair amount of confidence behind it which would have put our minds at ease. As it is the answer was not a confident reply and lead to more worries and doubts.Personally i hope i am wrong in thinking that this years ST money has not been included in the £10M figure, and have now been made aware that we have not been given the puma or blackthorn cash yet, which if true is a bonus. The scaremongering is a load of bollocks though and i'd almost bet my house on us not being in the shit by next year let alone crimbo. Quote Link to post Share on other sites More sharing options...
Redwhiteandblue 3,330 Posted August 9, 2013 Share Posted August 9, 2013 Oh yes they did, they were tupe'd over with the Stadium, Murray Park, History, lock stock and barrel et al.Facts are facts and cannot be argued with.How did we not get compo then?Them taking a wage "sealed the deal" there was a lot of talk at the time about them not taking a wage. Quote Link to post Share on other sites More sharing options...
WWTC 2,247 Posted August 9, 2013 Share Posted August 9, 2013 You're right, you're not financial expert, nor are you a genius. Approx 23M GBP spent on one off buys last year.Try this :-1. Puma money to come in.2. Blackthorn money to come in.3. Shirt sales to come in. (Ever wondered why they were late this year.)4. ST money to come in. (Normally started in May in previous seasons.)5. Corporate money to come in.6. Pay at the gate money to come in.7. Other forms of Income to come in.All of this is for season 2013/14, so could not have been in accounts for 2012/13 which ended in June.I am neither a financial expert or a genius, but I am able to see things in a clear light.Approx £23M spent on one-off buys last year? Like what?And the vast majority of season ticket sales are already in, as is the money. The rest of the list is peanuts compared to the rest, apart from the key one ofcourse "other forms of income". Quote Link to post Share on other sites More sharing options...
Redwhiteandblue 3,330 Posted August 9, 2013 Share Posted August 9, 2013 The £23M one off costs are taken from the interm results already published. Albion CP and Edmin house cost £2.4M which is part of the 23.link? Quote Link to post Share on other sites More sharing options...
boss 1,941 Posted August 9, 2013 Share Posted August 9, 2013 As for are there any accountancy experts on RM, the answer is clearly NO.Oh, you think so. I agree with you, though, that there are a fair number of pretendy accountants that couldn't count a row of beans. Quote Link to post Share on other sites More sharing options...
Albertz 78 918 Posted August 9, 2013 Share Posted August 9, 2013 Approx £23M spent on one-off buys last year? Like what?£4m in Football debts.£5.5m used to buy the clubNew roof at Murray park & 4g pitch.Paying off Gioan,Bocanegra & SandazaBuying back Ed House, & Albion car park.£1m for the Green investigation.Lawyers fee's.New company start up costs.Sfa fines.Brokers fees for the ipo.New screens at Ibrox.Paying players like Davis, Naismith etc full wage for a few weeks after admin.etc etc... Quote Link to post Share on other sites More sharing options...
Davy Cooper 777 6 Posted August 9, 2013 Share Posted August 9, 2013 OK mr expert, list all the expenditure for our perusal.I dont need to be any expert to see that the current rate of expenditure will leave us BANKRUPT, i am no expert but someone tell me where all the money went ?????? Quote Link to post Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.