Breaking News Accounts 2013/14 Published

[Fish]

Very grim reading. How any accountant can look at those figures and declare us as a "going concern" is beyond me.

Anyhow, forget that for a moment.....all eyes on tonight.

A going concern is a business that functions without the threat of liquidation for the foreseeable future, usually regarded as at least within 12 months.

It isn't intended to mean "hang on chaps, we'll make a profit next year". It implies for the business the basic declaration of intention to keep running its activities at least for the next year. In our case (as with most football clubs) it means that the clubs owners have satisfied the auditors (not the accountants) that they will pay what is needed to ensure the club is not liquidated in the next 12 months.

 

[OldBlueLady]

Who did we sell to make £700,000 in player trading in 2013?

I believe some considerable portion of that was down to Cresswell and his home-sickness, as YB has said (but I hadn't read as far as when I replied!).

 

[chapperzUK]

I believe some considerable portion of that was down to Cresswell and his home-sickness, as YB has said (but I hadn't read as far as when I replied!).

Hasn't that proved to be just another myth?

 

[united we stand]

Same for most clubs sadly.

Anyway, where is Rayleigh Boy, once he points out we were given 5 million pounds from Sainsbury things will look much better.

that really made me smile :smile:

 

[OldBlueLady]

Hasn't that proved to be just another myth?

Whatever, don't care if he was or wasn't, but that accounts for a good proportion of the money.

 

[FarmdogSUFC]

So, how much in debt are we?

 

[Up the Shrimpers]

Ryan Cresswell plus instalments from selling Hall and Ferdinand in 12/13.

The more important question is what income are we going to get to plug the shortfall in subsequent years? 12/13 we had the JPT run. We'll get 50% of the net gate receipts for tonight, but that will just plug the hole in the accounts caused by falling to go as far as we'd budgeted for in the cup.

This is why it is so important that we have a manager who can sign and develop young talent to sell.

No we don't.
50% goes to the Football League the other 50% goes into a pot with the other 3 League 2 play off teams. The 4 clubs then take 25% each of the pot. So each club gets the same gate receipts no matter what the crowd.
I'm sure each club keeps its Hospitality receipts and as we have sold out all Hospitality tonight then that will be a bit of extra income.

 

[mrsblue]

So Bottom line

just enough coming in through the doors to cover wages. we have to borrow from the parent company to cover the other costs of running the club.

no real change to previous years other than the parent company seems to be able to lend a bit more this season.
And I can't see any improvement for 2014-2015 accounts

If we don't want to be reliant on RM we need another 3k on the gate for next season (if they are all paying full price) and no increase in wages,

Every 100 pound a week extra we pay the players will need about 10 additional adults for every match to cover it.

As for going concern, someone has put up a good enough case that they can cover the costs and , to be honest, they have succeeded so far (albeit with the odd stutter)

We could have sell out crowds every game whilst selling players for millions and of course have money spinning cup games...yet still lose money.

 

[Smiffy]

So, how much in debt are we?

Only about £13m. :hilarious:

It's ok though as most of that is to Ron's companies, which of course he will just write off. Chap.

 

[chapperzUK]

Whatever, don't care if he was or wasn't, but that accounts for a good proportion of the money.

In the same period, Kane Ferdinand was sold for £200k (rising to a possible £500k) and Ryan Hall was sold for an undisclosed fee, which the Echo says was around £150k. Gary Hooper transferred from Celtic to Norwich too and if our clause included that transfer then we may have received around £100k from that (20% of the 20% profit Scunthorpe made on the £2.6m profit Celtic made selling him for £5m).

Ryan Cresswell went for another undisclosed fee, yet I doubt it was £250k.

http://www.bbc.co.uk/sport/0/football/19439518

 

[mrsblue]

Only about £13m. :hilarious:

It's ok though as most of that is to Ron's companies, which of course he will just write off. Chap.

Some on here believe Ron puts his hand into his own pocket:hilarious:,13 million and counting.

 

[Beefy]

We could have sell out crowds every game whilst selling players for millions and of course have money spinning cup games...yet still lose money.

Well the one time that that scenario actually played out (06/07) we made a profit.

 

[Beefy]

Only about £13m. :hilarious:

It's ok though as most of that is to Ron's companies, which of course he will just write off. Chap.

Doesn't make a blind bit of difference if he writes it off or not. It won't get paid either way.

 

[Shrimper]

This years accounts will be more interesting.