I am confused

[Firestorm]

Breaking even for the year (which is to 31/7/13) with the assistance of a windfall indicates that without it we would have made a loss. This estimate would have taken season ticket sales into account and I doubt these have lived up to expectations.

As 3/4 of the loss making year had already passed before the windfall it would be safe to assume (albeit rather simplistic) that 3/4 of the windfall had been already spent leaving the other 25% to cover the losses for the remaining 3 months.
If however estimated income is lowerin the final quarter there will not be enough to cover outgoings.

BTW Whilst the season ticket price is 350 quid the club only get just over 290 from each sale as there is almost 60 quid of VAT

 

[Firestorm]

I've raised the same point on a couple of occasions where finances have been discussed.

We were meant to break even so this is one close season you would hope we would be in a better position.

Scary how unable to cope we are even with a massive cash injection like that.

All it meant was we didn't have to borrow to cover the deficit , it didn't actually mean we had any more disposable income.

 

[united we stand]

Breaking even for the year (which is to 31/7/13) with the assistance of a windfall indicates that without it we would have made a loss. This estimate would have taken season ticket sales into account and I doubt these have lived up to expectations.

As 3/4 of the loss making year had already passed before the windfall it would be safe to assume (albeit rather simplistic) that 3/4 of the windfall had been already spent leaving the other 25% to cover the losses for the remaining 3 months.
If however estimated income is lowerin the final quarter there will not be enough to cover outgoings.

BTW Whilst the season ticket price is 350 quid the club only get just over 290 from each sale as there is almost 60 quid of VAT

is the year part of your post an assumption or a fact- genuine question. I know that the players contracts run until that date

 

[Cricko]

I understand where you are coming from Gary, the point I am trying (badly) to make here is forget the long term position of the accounts which as you say will maybe balance out ..My question is what was/did the 710k CASH go on in the last few months of the season?

 

[united we stand]

All it meant was we didn't have to borrow to cover the deficit , it didn't actually mean we had any more disposable income.

that's my understanding as well and what I posted earlier

 

[Suffolk Blue]

Have we actually received the money yet? I would have thought it'd take a while to figure out exactly how much we're to get as Wembley need to figure out the expenses side of things first. It might be that settlement is on 90 day terms.

 

[undercovershrimper]

Have we actually received the money yet? I would have thought it'd take a while to figure out exactly how much we're to get as Wembley need to figure out the expenses side of things first. It might be that settlement is on 90 day terms.

I raised a similar point on the more bad news thread, do we actually know for certain that we have submitted the Wembley monies to the FL or received our share back? Nobody seems to know so it could be were are struggling because the FL are withholding our share or that we have not even paid it to the FL yet

 

[Cricko]

I raised a similar point on the more bad news thread, do we actually know for certain that we have submitted the Wembley monies to the FL or received our share back? Nobody seems to know so it could be were are struggling because the FL are withholding our share or that we have not even paid it to the FL yet

I think your later point is spot on hence why we have never had to this day the correct amount of SUFC fans there..mind you it is only 2 and a half months later....bloody computers eh, they take months to work things out. :winking:

 

[turkishm]

I understand where you are coming from Gary, the point I am trying (badly) to make here is forget the long term position of the accounts which as you say will maybe balance out ..My question is what was/did the 710k CASH go on in the last few months of the season?

Paying of loans,and huge black holes of debt in RM other so called business, at a guess, of course

 

[Smiffy]

I raised a similar point on the more bad news thread, do we actually know for certain that we have submitted the Wembley monies to the FL or received our share back? Nobody seems to know so it could be were are struggling because the FL are withholding our share or that we have not even paid it to the FL yet

Ron knows.

Surely he wouldn't be that foolish...would he?

 

[Firestorm]

is the year part of your post an assumption or a fact- genuine question. I know that the players contracts run until that date

The accounting year is to 31/7, which would be one of the reasons we are under an embargo as the accounts to 31/7/12 (which were due at CH (and the FL) by 30/4/13 and have yet to be submited.

 

[pringlejon]

Maybe it's all been invested into the stadium as an upfront deposit to the building firm...

 

[Cricko]

Maybe it's all been invested into the stadium as an upfront deposit to the building firm...

The building firm he borrowed money from to pay a bill you mean?

 

[Kevin Hogg]

I would imagine that much of the Wembley money will go to, or has gone to, Southend Borough Council for the initial down payment to fulfill the stadium agreement.

 

[TrueBlue]

The building firm he borrowed money from to pay a bill you mean?

What building firm how do you know this?
What proof is there?

 

[MK Shrimper]

#thread diversion begins

Phew, I thought this might be a thread about Cricks finally coming out of the closet after seeing that Liberace film. :stunned:

Close call.

#thread diversion ends

 

[Cricko]

What building firm how do you know this?
What proof is there?

Shut up with all this bollocks of proof you need.

 

[Cricko]

I would imagine that much of the Wembley money will go to, or has gone to, Southend Borough Council for the initial down payment to fulfill the stadium agreement.

I think you live in the same imaginary world as RM.

 

[Clinton Baptiste]

Well we have one of the highest wage bills in the division so that probably swallowed up most of the money. What about paying for the likes of Reeves, Lund, Tamika? The work on Boots and Laces and the new pitch? Ron upgraded his Bentley maybe?

 

[TrueBlue]

Shut up with all this bollocks of proof you need.

Hold on John you have just claimed that we have borrowed money from a building company?!? Without anything to back that up or even attempt to substantiate where you heard that or how you know

Also if the club or anybody connect done you for them comments you better hope you had some proof!