Annual accounts are out

[kelvd1873 7,247]

12 minutes ago, esquire8 said:

He has just given the club a bigger loan with more interest on it than you would get if that money was sitting in a bank during a time when the club is breaking even while paying back other loans. 

Turn it into equity if you really want good from it. Otherwise it's just another money maker for him.

I’d say The 6% PA is more likely his “salary” because iirc non of the directors earn an actual salary. 

[Blue Nosed Babe 20,838]

Can't be upset at turning a significant loss into profit tbh.

[STEPPS BOY 74,314]

8 minutes ago, Colin Traive said:

I understand that but this is a significant, long term investment, a commitment to which can’t be dependent on the team’s form.

”Hold on a minute Sandy, the team’s just dropped another two points, take that cable reel back to Screwfix…”

Or we have a midfield 3 whos ages total over 100 years of age whilst spending 13/14 million on Edminston house.

[mitre_mouldmaster 21,509]

1 minute ago, STEPPS BOY said:

Or we have a midfield 3 whos ages total over 100 years of age whilst spending 13/14 million on Edminston house.

If we went out and replaced them last year we would have breached Uefa Financial rules though.

Now we have a year of far better results, with a year of losses falling off, then it opens us up to being able to spend a bit this summer.

That's my understanding of it at least.

[TheKingObv 10,647]

12 minutes ago, mitre_mouldmaster said:

I'm sure it's to do with the Uefa financial fair play.

We could not go out and spend that money on players as it would take our spending above what was allowed and we would be sanctioned.

You are however allowed to spend the money on infrastructure to grow the club, so things like this and stadium upgrades etc.

Spending the money to grow future revenue is actually a good thing to do, but don't know enough about how profitable this EH thing will be.

Understand totally why they went for something like this though.

Fair points on the FFP, forgot about that although I wonder how much wiggle room we had until we actually risked a breach?

Either way, as Stepps alluded to, the 15 year payback period assuming £1 million revenue seems like an interesting investment...

[mitre_mouldmaster 21,509]

1 minute ago, TheKingObv said:

Fair points on the FFP, forgot about that although I wonder how much wiggle room we had until we actually risked a breach?

Either way, as Stepps alluded to, the 15 year payback period assuming £1 million revenue seems like an interesting investment...

Although it may take 15 years to see us make an actual profit, it won't be that way on the accounts.

All the costs (excluding standard running costs) will be on this/next year's accounts. All the revenue from it will be on the accounts for the year it operates, so you will effectively see better accounts in all the future years.

This extra revenue then gives us more leeway with future Uefa FFP.

At the end of they day, we lag they fucks across the city on actual revenue, so anything we can do to bridge that gap has merit to me.

Not sure if this was the best way of raising revenue, but at least it's something. Would rather this than having it flowing out the door as dividends.

I'm still worried about these cunts in the US trying a takeover to be honest.

This board are not perfect, but I do trust them. Sure the football is chronic at the moment and we need some cash spent on the team soon, but I'm sitting here trying to work out if the board are doing a decent job or not. That's nowhere near as bad as the alternative of wondering if the board are trying to literally rip us off, which is the alternative with this other mob.

[gj923 1,457]

46 minutes ago, Prso's headband said:

People cut him a lot of slack for that car crash interview. It’s what I’d be saying if I took £6.5m out the club and wanted my £10m back with interest. He’s a cunt like the rest of them

He is providing an overdraft facility basically which is a good thing. It could be like Man Utd where they are paying something like 14/15% for borrowing.

[The Archer 1,154]

24 minutes ago, mitre_mouldmaster said:

I'm sure it's to do with the Uefa financial fair play.

We could not go out and spend that money on players as it would take our spending above what was allowed and we would be sanctioned.

You are however allowed to spend the money on infrastructure to grow the club, so things like this and stadium upgrades etc.

Spending the money to grow future revenue is actually a good thing to do, but don't know enough about how profitable this EH thing will be.

Understand totally why they went for something like this though.

Or like many places you get the contractors to put a price for the job of 10 million which the club pay and the contractor gives some of that back under the radar to people who awarded it without anyone knowing like a commission /back handed. Maybe someone got 500k because the cost of that building is ridiculous for what it is

[TheKingObv 10,647]

3 minutes ago, mitre_mouldmaster said:

Although it may take 15 years to see us make an actual profit, it won't be that way on the accounts.

All the costs (excluding standard running costs) will be on this/next year's accounts. All the revenue from it will be on the accounts for the year it operates, so you will effectively see better accounts in all the future years.

This extra revenue then gives us more leeway with future Uefa FFP.

At the end of they day, we lag they fucks across the city on actual revenue, so anything we can do to bridge that gap has merit to me.

Not sure if this was the best way of raising revenue, but at least it's something. Would rather this than having it flowing out the door as dividends.

I'm still worried about these cunts in the US trying a takeover to be honest.

This board are not perfect, but I do trust them. Sure the football is chronic at the moment and we need some cash spent on the team soon, but I'm sitting here trying to work out if the board are doing a decent job or not. That's nowhere near as bad as the alternative of wondering if the board are trying to literally rip us off, which is the alternative with this other mob.

I know how the accounting works mate haha.

How much extra allowable expense does a £1 million increase in revenue permit us per FFP?

[mitre_mouldmaster 21,509]

2 minutes ago, The Archer said:

Or like many places you get the contractors to put a price for the job of 10 million which the club pay and the contractor gives some of that back under the radar to people who awarded it without anyone knowing like a commission /back handed. Maybe someone got 500k because the cost of that building is ridiculous for what it is

Or maybe they didn't.

I would rather deal with facts than conspiracy theory.

[mitre_mouldmaster 21,509]

Just now, TheKingObv said:

I know how the accounting works mate haha.

How much extra allowable expense does a £1 million increase in revenue permit us per FFP?

No idea mate! Not got a scooby how it all works!

Are you no a qualified fucking accountant now??? Sure it was you who qualified recently!

I'm just bumping my gums about FFP with little understanding, pretending to know more than I do as usual! 😂

[Tiger Shaw 30,659]

3 minutes ago, mitre_mouldmaster said:

I'm just bumping my gums about FFP with little understanding, pretending to know more than I do as usual! 😂

Genuinely don’t think anybody would have realised this without you telling 

[TheKingObv 10,647]

10 minutes ago, mitre_mouldmaster said:

No idea mate! Not got a scooby how it all works!

Are you no a qualified fucking accountant now??? Sure it was you who qualified recently!

I'm just bumping my gums about FFP with little understanding, pretending to know more than I do as usual! 😂

Haha I am indeed - however football club accounts are probably the hardest company accounts to properly objectively analyse due to the unusual year on year changes which can happen. 

Reason I ask is if one of the positives of the EH development is for FFP purposes then this success would be measured by how much we are able to increase our expenses as a result of the investment. So if a £1million increase in revenue allows an increase of yearly expenses of £ 1million (I.e a £20k a week player salary for a year) is that really a good investment from a FFP pov?

I'm not saying it's not worthwhile but it's one way of looking at it.

[mitre_mouldmaster 21,509]

3 minutes ago, TheKingObv said:

Haha I am indeed - however football club accounts are probably the hardest company accounts to properly objectively analyse due to the unusual year on year changes which can happen. 

Reason I ask is if one of the positives of the EH development is for FFP purposes then this success would be measured by how much we are able to increase our expenses as a result of the investment. So if a £1million increase in revenue allows an increase of yearly expenses of £ 1million (I.e a £20k a week player salary for a year) is that really a good investment from a FFP pov?

I'm not saying it's not worthwhile but it's one way of looking at it.

Think it's based on 3 years rolling revenue, so hopefully it would have a net effect of 3x the revenue bump.

Not sure though.

[STEPPS BOY 74,314]

38 minutes ago, mitre_mouldmaster said:

If we went out and replaced them last year we would have breached Uefa Financial rules though.

Now we have a year of far better results, with a year of losses falling off, then it opens us up to being able to spend a bit this summer.

That's my understanding of it at least.

 

18 minutes ago, mitre_mouldmaster said:

No idea mate! Not got a scooby how it all works!

Are you no a qualified fucking accountant now??? Sure it was you who qualified recently!

I'm just bumping my gums about FFP with little understanding, pretending to know more than I do as usual! 😂

LOL

[TheKingObv 10,647]

2 minutes ago, mitre_mouldmaster said:

Think it's based on 3 years rolling revenue, so hopefully it would have a net effect of 3x the revenue bump.

Not sure though.

I think it's the assessment period that is 3 years therefore it would be a £3 million  increase in revenue over the 3 years that could be matched with £3 million of increased expenses over the same period.

So still effectively the same as £1 million per year.

[Kylegib 516]

3 hours ago, Jimbeamjunior said:

And people wanted us to spend millions in the summer lol

Yes because had it not been for our previous manager or current manager doing so well in Europe we'd likely be in administration again, the board are as guilty as any manager for us being where we are now.

[mitre_mouldmaster 21,509]

1 minute ago, STEPPS BOY said:

 

LOL

To be fair, the little I know is that we are on a watchlist for FFP.

You can spend on infrastructure without breaching it, but not on players.

I'm no delving into the finer points of it, just the absolute basics which I think explains why we didn't go out and spunk £15m on players that many seem to say was a better use of the cash.

I think it's fairly obvious this was the reason without me having to pretend to be some sort of guru.

[Kylegib 516]

2 hours ago, RFC55 said:

His car business is not at our expense.

we get you don’t want the manager but fuck me yer like a wee scorned lover.

this board have got us back to a level we need to be, they have faults, they probably can’t take us any further and will need to move on and allow someone who can take us to the next level to do so. These guys stepped up when really they didn’t have to 

rancid as you like to call is was 2011 through to 2016.

It was actually the fans that stepped up buying season tickets etc from that time we even bought season tickets for games we didn't even get to attend during covid and we were buying them in record numbers that's what saved the club.

[RFC55 109,423]

3 minutes ago, Kylegib said:

It was actually the fans that stepped up buying season tickets etc from that time we even bought season tickets for games we didn't even get to attend during covid and we were buying them in record numbers that's what saved the club.

The fans bought season tickets every season from way back till now bar the boycott season.

we haven’t put the money in that these guys have let’s not try and downplay their funding of the club, there’s much to hate about how they run it but they have provided working capital for a vast amount of time, our season tickets don’t cover that.

 

 

[STEPPS BOY 74,314]

On the SD case, how the fuck is James Blair still at club.

Be better with Ally Mcbeal.

[McEwan's Lager 30,669]

Just now, STEPPS BOY said:

On the SD case, how the fuck is James Blair still at club.

Be better with Ally Mcbeal.

I nominate this guy.

 

[mitre_mouldmaster 21,509]

12 minutes ago, TheKingObv said:

I think it's the assessment period that is 3 years therefore it would be a £3 million  increase in revenue over the 3 years that could be matched with £3 million of increased expenses over the same period.

So still effectively the same as £1 million per year.

Yea probably right.

We do need to increase our revenue though and can't think of another way that is more obvious whilst also being reliable.

Increasing seating in the stadium could work, but costs for this seem fucking mental these days. Far bigger outlay than this.

Fuck knows if this thing is a good investment or not, hopefully it's a roaring success though.

[Moody Blue 9,446]

Cba reading the full set but headline details paint a more positive picture than we’ve seen in recent seasons. They seem to praise themselves for that, which makes it all the more ludicrous that they showcase player trading yet renewed OAP’s in the summer (wage bill at record levels) and have let some contracts run down where the assets will leave for nothing. Adopt a strategy to trade players and stick with it!

Business model on the right track, still needs improving, but they will find out soon enough that it all becomes irrelevant if your product on the park is pish. 

[scottyc06 6,916]

Park firmly backing Gio & Wilson there!