five stars 1,767 Posted October 1, 2013 Share Posted October 1, 2013 We were promised openness and transparency and that the club would be run on a financially sound basis. Without jumping to any conclusions, the figures in the accounts should at least have us wanting more information on the finances. Obviously a business has to plan ahead and project income and expenditure in the coming years, and with the information they have available, should be able to make a fairly accurate financial projections. So we should be told how much of a loss is projected for this season and the next, and how that will effect the business. Then we can make up our own minds about whether the current board is fit for purpose. Quote Link to post Share on other sites More sharing options...
mitre_mouldmaster 21,511 Posted October 1, 2013 Share Posted October 1, 2013 We were promised openness and transparency and that the club would be run on a financially sound basis. Without jumping to any conclusions, the figures in the accounts should at least have us wanting more information on the finances. Obviously a business has to plan ahead and project income and expenditure in the coming years, and with the information they have available, should be able to make a fairly accurate financial projections. So we should be told how much of a loss is projected for this season and the next, and how that will effect the business. Then we can make up our own minds about whether the current board is fit for purpose.Since the accounts have been signed off, we can assume that the maximum projected loss would be around £14m. This is the c£11.5m in the bank plus the £2.5m available in credit.Should be less though.Any issues will arise is the following 2014-2015 season. Quote Link to post Share on other sites More sharing options...
five stars 1,767 Posted October 1, 2013 Author Share Posted October 1, 2013 Since the accounts have been signed off, we can assume that the maximum projected loss would be around £14m. This is the c£11.5m in the bank plus the £2.5m available in credit.Should be less though.Any issues will arise is the following 2014-2015 season. Are you sure? In your estimation mitre when will we stop being in the black and start to move into the red? Quote Link to post Share on other sites More sharing options...
five stars 1,767 Posted October 1, 2013 Author Share Posted October 1, 2013 Its looks highly likely that we will need to raise more capital. If not this season then certainly next. Unless we embarked on a brutal cost cutting exercise. Quote Link to post Share on other sites More sharing options...
Redsox1 1,361 Posted October 1, 2013 Share Posted October 1, 2013 Oh the pain , I`m feeling your pain...... Quote Link to post Share on other sites More sharing options...
five stars 1,767 Posted October 1, 2013 Author Share Posted October 1, 2013 Oh the pain , I`m feeling your pain......? If we post great financial results it would cause me not pain but delight. Don't you want financial transparency? Are you happy with your head in the sand? Quote Link to post Share on other sites More sharing options...
WCPRANGERS1 2,997 Posted October 1, 2013 Share Posted October 1, 2013 Tell me any Scottish football club or any football club for that matter that doesnt have to explore further revenue streams? Quote Link to post Share on other sites More sharing options...
five stars 1,767 Posted October 1, 2013 Author Share Posted October 1, 2013 Tell me any Scottish football club or any football club for that matter that doesnt have to explore further revenue streams??? What's that got to do with having financial transparency at our club? Any business worth it's salt looks at ways to expand its revenue. Quote Link to post Share on other sites More sharing options...
Guardian 4,281 Posted October 1, 2013 Share Posted October 1, 2013 We were promised openness and transparency and that the club would be run on a financially sound basis. Without jumping to any conclusions, the figures in the accounts should at least have us wanting more information on the finances. Obviously a business has to plan ahead and project income and expenditure in the coming years, and with the information they have available, should be able to make a fairly accurate financial projections. So we should be told how much of a loss is projected for this season and the next, and how that will effect the business. Then we can make up our own minds about whether the current board is fit for purpose.Fuck right off.You lot wanted transparency in the accounts, well you got it.Now you want their opinions on what the future accounts might be ??Then if any of it is different later you'll call them liars With threads like this we don't need the tims any more. Quote Link to post Share on other sites More sharing options...
bigblueyonder 11,158 Posted October 1, 2013 Share Posted October 1, 2013 Its looks highly likely that we will need to raise more capital. If not this season then certainly next. Unless we embarked on a brutal cost cutting exercise.to be fair, that is a fair assumption... we simply have far too many costs be they footballing and non-playing related. Unless anyone is proposing to come in and drastically reduce the playing staff, management team and non-playing staff then I don't see this changing... Quote Link to post Share on other sites More sharing options...
Steelee66 233 Posted October 1, 2013 Share Posted October 1, 2013 ?If we post great financial results it would cause me not pain but delight. Don't you want financial transparency? Are you happy with your head in the sand?They've just posted the fuckin accounts.Would you like them to provide Floella Benjamin from Playschool to explain them to you too?Does any company that you know off provide more than a set of audited accounts? No.Find someone to explain them to you like everyone else on here will do. Quote Link to post Share on other sites More sharing options...
bluenosebrad 452 Posted October 1, 2013 Share Posted October 1, 2013 Is this a fishing thread started by the op Quote Link to post Share on other sites More sharing options...
five stars 1,767 Posted October 1, 2013 Author Share Posted October 1, 2013 Fuck right off.You lot wanted transparency in the accounts, well you got it.Now you want their opinions on what the future accounts might be ??Then if any of it is different later you'll call them liars With threads like this we don't need the tims any more.I'm amazed after what has happened in the last few years that many fans are so trusting of those running the club. The accounts are at best poor, what's wrong with transparency? Quote Link to post Share on other sites More sharing options...
Allanger 625 Posted October 1, 2013 Share Posted October 1, 2013 The accounts are decent from any perspective. We must ensure that murray gets nowhere near our club.We asked for transparency and we have it. Quote Link to post Share on other sites More sharing options...
Non_Sucumbi 876 Posted October 1, 2013 Share Posted October 1, 2013 We were promised openness and transparency and that the club would be run on a financially sound basis. Without jumping to any conclusions, the figures in the accounts should at least have us wanting more information on the finances. Obviously a business has to plan ahead and project income and expenditure in the coming years, and with the information they have available, should be able to make a fairly accurate financial projections. So we should be told how much of a loss is projected for this season and the next, and how that will effect the business. Then we can make up our own minds about whether the current board is fit for purpose.How much more information do you need? What is missing that you would expect to see in annual accounts? Feel free to elucidate.Accounts are just that, a set of numbers, very few companies release their accounts accompanied by a 'sales brochure' fr the future. I would expect to see a business plan including next year's 'fiancial projections' offered up either before or more likely at the AGM. Fairly normal business practice. Quote Link to post Share on other sites More sharing options...
five stars 1,767 Posted October 1, 2013 Author Share Posted October 1, 2013 How much more information do you need? What is missing that you would expect to see in annual accounts? Feel free to elucidate.Accounts are just that, a set of numbers, very few companies release their accounts accompanied by a 'sales brochure' fr the future. I would expect to see a business plan including next year's 'fiancial projections' offered up either before or more likely at the AGM. Fairly normal business practice.I don't disagree with you, i was not expecting financial projections in the accounts. But the accounts are poor, 14m loss on a 19m turnover is poor by anybodys standard. That's why we need to have as much information as possible to be able to judge where we stand. Then again we could just stick our head in the sand and pretend the accounts are rosy and of no cause for concern. Quote Link to post Share on other sites More sharing options...
WCPRANGERS1 2,997 Posted October 1, 2013 Share Posted October 1, 2013 ?? What's that got to do with having financial transparency at our club? Any business worth it's salt looks at ways to expand its revenue.What's it not to do with it?I bet if this board came out and said we're gonna go after this deal or we're gonna get this income you would be straight on here calling them liars for telling us they had these plans in place and then didn't deliver?At the end of the day they got back Ed House, secured the clubs assets, delivered on shirt sponsorship, kit makers and have vastly improved the playing staff while reducing the wage bill.Yes the directors are taking too much of a salary and the non playing wage is still unsuitable but if you ask me you're simply looking for something after the books were not the doom and gloom many were predicting.Oh and do you believe the doom lingers would believe ANY projections made by the board....simple answer to that I NO they have constantly accused this board and will continue to do it for their own agenda. Quote Link to post Share on other sites More sharing options...
Non_Sucumbi 876 Posted October 1, 2013 Share Posted October 1, 2013 I don't disagree with you, i was not expecting financial projections in the accounts. But the accounts are poor, 14m loss on a 19m turnover is poor by anybodys standard. That's why we need to have as much information as possible to be able to judge where we stand. Then again we could just stick our head in the sand and pretend the accounts are rosy and of no cause for concern.Poor is a matter of opinion but at least they are transparent enough for you to see the facts. Me, I liked Ronald Regan's mantra 'trust, but verify'. Quote Link to post Share on other sites More sharing options...
Redsox1 1,361 Posted October 1, 2013 Share Posted October 1, 2013 I'm amazed after what has happened in the last few years that many fans are so trusting of those running the club. The accounts are at best poor, what's wrong with transparency?Maybe over on the swamp you might find someone who will agree with you. But sorry the minico/ff swamp are now a busted flush. Quote Link to post Share on other sites More sharing options...
five stars 1,767 Posted October 1, 2013 Author Share Posted October 1, 2013 Maybe over on the swamp you might find someone who will agree with you. But sorry the minico/ff swamp are now a busted flush.I've never been "over on the swamp" although I used to buy the follow follow fanzine back in the early 80's if that counts! Yes, I may be in the minority and I hope use guys are right but after whyte i will not be taking anything for granted. Quote Link to post Share on other sites More sharing options...
bluenose1975 1,287 Posted October 1, 2013 Share Posted October 1, 2013 I've never been "over on the swamp" although I used to buy the follow follow fanzine back in the early 80's if that counts! Yes, I may be in the minority and I hope use guys are right but after whyte i will not be taking anything for granted.That's funny, I think I bought the same fanzine aff fat Jaffa about 4 weeks ago Quote Link to post Share on other sites More sharing options...
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