Breaking News 09/10 Accounts Released

[Firestorm]

Just got my email back after 5 days down and I note that Companies house advised me that the SUFC accounts were lodged on Thursday.

I presume from the lack of a thread that there was nothing of interest in there.

 

[Smiffy]

I'm not very good with these things so apologies in advance. I'm sure those with a better grasp can provide more.

Just a few snippets.

Year End July 2010:

Total Turnover: £4,702,031 (Down from £5,303,541 in 2009)

Total Loss: £1,149,534 (Down from £2,039,437 in 2009)

Current Liabilities: £8,363,794 (Up from £7,367,951 in 2009)

Gate Receipts: £744,042(Down from £1,163,058 in 2009)

Season Tickets: £947,660 (Down from £1,045,374 in 2009)

Bars & Catering: £90,215 (Down from £334,658 in 2009)

Player Trading: £864,750 (Up from £625,000 in 2009)

Total No.of Staff: 106 (Up from 103 in 2009)

Staff Costs: £3,377,787 (Down from £3,974,878 in 2009)

Amount owed to Parent Undertaking (SEL): £3,147,042 (Up from £639,012 in 2009)

Gary Lockett issued a loan of £236,250 to SUFC. Most of which is still outstanding.

Same situation for Frank Van Wezel (£160,000)

Mezcal Investments (Own 50% of SEL) still owed £1,000,000.

Martin Dawn take a £60,000 "Management charge" again.

 

[Beefy]

Pretty much as expected and shows the difference between making a loss and running out of cash. 'Only' losing £1m is technically a stronger trading performance than we'd had the year before but of course this is the period covering most of our trips to the winding up court and periods of unpaid wages.

I don't suppose the admin expenses are broken down...?

 

[Smiffy]

Pretty much as expected and shows the difference between making a loss and running out of cash. 'Only' losing £1m is technically a stronger trading performance than we'd had the year before but of course this is the period covering most of our trips to the winding up court and periods of unpaid wages.

I don't suppose the admin expenses are broken down...?

Not that I can see.

 

[Somerset Ex-TTB]

Tunover £4.7m
Loss £1.1m

Total Expenses therefore £5.8m of which £3.4m is staff costs.

That leaves £2.4m "other club running costs"

Is it me or is that high, and this is assuming that player trading is included in Turnover.

 

[South Bank Hank]

Bars & Catering: £90,215 (Down from £334,658 in 2009)

What happened there then? Not as much cash as other areas but that's a hell of a relative drop.

 

[Firestorm]

Turnover excluding player trading 3,837,281
Cost of sales 4,296,412

loss 459,131

Administrative expenses 1,060,730

Other income 59,277

Loss 1,460,584

Player Trading Profit 647,175

Interest and Similar Charges 336,125

Total Loss 1,149,534

The Cost of sales is Wages 3,079,899
Other Expenses 1,434,088

 

[jerseyshrimper]

What happened there then? Not as much cash as other areas but that's a hell of a relative drop.[/QUote
Was the catering not contracted out for that season? Any way fastest way to lose custom as in the West Stand bar is to impose bottled beer on everyone. I go to the pub now before a match and do not bother with the bar.

 

[hindle_666]

Bars & Catering: £90,215 (Down from £334,658 in 2009)

Wow i knew i ate alot of pies n my fair share of beer but didn't expect the loss to be that high :spread:

 

[Hotman]

I'm not very good with these things so apologies in advance. I'm sure those with a better grasp can provide more.

Just a few snippets.

Year End July 2010:

Total Turnover: £4,702,031 (Down from £5,303,541 in 2009)

Total Loss: £1,149,534 (Down from £2,039,437 in 2009)

Current Liabilities: £8,363,794 (Up from £7,367,951 in 2009)

Gate Receipts: £744,042(Down from £1,163,058 in 2009)

Season Tickets: £947,660 (Down from £1,045,374 in 2009)

Bars & Catering: £90,215 (Down from £334,658 in 2009)

Player Trading: £864,750 (Up from £625,000 in 2009)

Total No.of Staff: 106 (Up from 103 in 2009)

Staff Costs: £3,377,787 (Down from £3,974,878 in 2009)

Amount owed to Parent Undertaking (SEL): £3,147,042 (Up from £639,012 in 2009)

Gary Lockett issued a loan of £236,250 to SUFC. Most of which is still outstanding.

Same situation for Frank Van Wezel (£160,000)

Mezcal Investments (Own 50% of SEL) still owed £1,000,000.

Martin Dawn take a £60,000 "Management charge" again.

Underlined the salient points.

 

[Smiffy]

Underlined the salient points.

Yep, that jumped out at me as well.

Must be the tax bills that were settled in our various court appearances?

 

[Hotman]

Would be interested in seeing the full accounts x

 

[Smiffy]

Anyone who wants a copy, please PM your email addy...

 

[CAPTAIN BIRDSEYE]

so the directors who loaned martin money still outstanding?? or more likely sainsburys came to the rescue again if not then presumably if the club went into administration these directors would also only get 1p in in the £1 good reason not to go into administration cos martin cannot afford to **** of anymore directors,

 

[Firestorm]

Yep, that jumped out at me as well.

Must be the tax bills that were settled in our various court appearances?

I would imagine that hat is the start of the Sainsbury money coming in through SEL

 

[canveyshrimper]

I'm interested in Mezcal (a Ron Martin Company) who own 50% of SEL (a Ron Martin company?) are owed £1 milllion - how does that work?

 

[Beefy]

I'm interested in Mezcal (a Ron Martin Company) who own 50% of SEL (a Ron Martin company?) are owed £1 milllion - how does that work?

Probably lending to cover the cashflow deficit.

 

[mattytheshrimper]

I hate Ron Martin! That is all.

 

[Firestorm]

The Mezcal money was lent in 2006 , could have been borrowed to pay for the championship season

 

[thewhelk]

My son knows Ron Martin, he is a good man, and an honest man who only wants whats best for Southend United