Accounts have been decided before publication - £16.7 million,from ££.

[bawsburst 1,381]

Points to note with regard to the Rangers accounts to June 2013

By The Leather Jacketed CA

Updated Sunday, 29th September 2013

Views: 559

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Rangers accounts should be issued this week.

A well-used line of those yet to be convinced by those sceptical of the current Board is - 'this is all rumour and propaganda, wait for the audited accounts for evidence we are suffering from a poor performance by the current board.’

There is already plenty of evidence out there if people could be bothered to look. And the source of that evidence is the Board themselves.

The interim results announced by the board on 4 March 2013 disclosed costs incurred in the period to 31 Dec 2012 relating to the acquisition and IPO of £5.3m. This is shown under note 4 - non recurring items of £284k and £609k and under note 13 - share premium relating to costs incurred fund raising of £4.373m.

Some seem to have also missed the reference in the SOS leaflet to the Board minutes of 31 October 2012.

The board can hardly deny the terms of the £590k loan from Zeus or the generous £1.1m worth of shares sold to Richard Hughes for £22k since the terms of these were detailed in their Board minutes.

Others defend Craig Mather simply because he has invested £1m but ignore the fact that 28% of the shareholders who own 18.2m shares and invested £12.7m want to remove him. Contrast that with those that want to keep him: namely Messrs. Green, Ahmed and Hughes who paid £94k for their 9.4 million shares (14.4%).

Discounting any spin on the Rangers accounts - £16.7m will need to be knocked off any 'profit'

By The Leather Jacketed CA

Updated Sunday, 29th September 2013

Views: 151

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Rangers accounts will require careful reading.

The accounts for 13 months to June 2013 will benefit from the non recurring items already declared in the interim results. It is therefore conceivable that RIFC could report a profit before tax in the accounts about to be published.

However this will be entirely due to the £20.465m 'profit' created by revaluing the brand and properties on the balance sheet which was shown in the interim accounts. There were also £3.7m of non recurring expenses recorded in the interim results giving net non-recurring credits of £16.7m

Therefore, whatever the headline profit reported, the underlying result will be £16.7m worse and that does not include costs incurred in relation to fund raising which don't go through the profit and loss account and were £4.373m in the interim accounts.

There may be other non recurring costs in the period January to June 2013 but we will need to wait and see.

[bluenose1975 1,287]

thats about as clear as mud

[pcbear 10,932]

BOSS!!! You around?

[bawsburst 1,381]

thats about as clear as mud

Nah, mud is a lot clearer, they really are desperate.

[trueblue68 2,497]

The conspiracy theorists seem to be getting a bit edgy.

[ForeverBlue_Since91 2,895]

One minute i'm reading about profit then the next i'm reading about us being 16.7million worse off.

[Gillete 1,338]

So is it good. , bad or indifferent?

[gogzy 31,195]

BOSS!!! You around?

[theiconicman 3,188]

The Leather Jacketed CA would fit in well at the RTC.

Seems like a hatchet job in case the accounts aren't as bad as they all seem to want. God forbid the business is actually on the up.

[bawsburst 1,381]

So is it good. , bad or indifferent?

It's propagandist shit !

[ritchieshearercaldow 22,450]

Am worried.

NOT

[ForeverBlue_Since91 2,895]

Nah, mud is a lot clearer, they really are desperate.

Starting to think you're the one thats desperate. You seem determined to get people from here against FF, the RST etc..........

You talk about people being on shifts and being planted on this forum. I think it's you thats been planted here and are doing some amount of shifts.

I have always thought you connected to the Rangers board in some way. You go on about how you hate FF but you never stop telling us all about them and what they are doing over there.

People say wait for the accounts. it would be nice if we were left to do this. Instead of reading threads from you about what FF are saying.

[Brian Fantana 28,894]

Its a pile of shite, u cannot speculate on accounts, audited accounts are 100% credible on expenditure and income.

This tit has non of the above.

What i will say is that when the accounts come out they should be drilled down to see the expenses but we wont get that in the the release.

[gmcf 35,562]

Ill still wait.

[Rfc#1. 1,877]

Wtf is that 2nd bit saying. If Rangers accounts show a profit lets knock £16 million off it. It's like their panicking that the accounts aren't as shite as they predicted they would be.

[bawsburst 1,381]

Starting to think you're the one thats desperate. You seem determined to get people from here against FF, the RST etc..........

You talk about people being on shifts and being planted on this forum. I think it's you thats been planted here and are doing some amount of shifts.

I have always thought you connected to the Rangers board in some way. You go on about how you hate FF but you never stop telling us all about them and what they are doing over there.

What no bravery pills tonight mouthy prick.

[will2203 842]

Thank god for the internet accountants. Where wouxLd we be without you?

[ForeverBlue_Since91 2,895]

What no bravery pills tonight mouthy prick.

You're the mouthy Prick. In every thread it's always the same shite with you. Do you ever post about football?

[bawsburst 1,381]

You're the mouthy Prick. In every thread it's always the same shite with you. Do you ever post about football?

:lol:

[AMcK 92]

Basically he just means we should ignore the £20.465M release of negative goodwill & the non-recurring items to get a clear picture of our finances last year.

[KingKirk 26,548]

Didnt a financial expert not say he expected us to be loosing money for the first few years.. then for it to pick up as we get to the top again?

[AlBear. 8,499]

Bawsbag in vague, bullshit shocker.

Has he ever actually answered a question put to him on here?

No. He hasn't.

Why's he here? Nobody knows.

Where'd he come from? Plenty of guesses.

What good is he for? Fuck all.

[gogzy 31,195]

Did a financial expert not say he expected us to be loosing money for the first few years.. then for it to pick up as we get to the top again?

yes.

[bawsburst 1,381]

Bawsbag in vague, bullshit shocker.

Has he ever actually answered a question put to him on here?

No. He hasn't.

Why's he here? Nobody knows.

Where'd he come from? Plenty of guesses.

What good is he for? Fuck all.

The grass rustles, nothing lower than a grass.

[KingKirk 26,548]

yes.

So really the fuss is about how much we will be loosing. IF we are loosing anything that is.. I remember when we were told that we are loosing £1million p/m but not every month. Can you imagine the reaction if that remains the same or if we make a very small profit.. bad time to a mod gogzy me thinks