| Update as our accounts were filed last week 11:48 - Mar 17 with 3146 views | TractorWood |
Not really anything seismic in the accounts. Evans via a multitude of group entities is owed circa £90m (including some preference shares that are classified as debt - that I'd think he would want). We made a loss for the financial year to 30/06/17 of £4.3m, which is broadly what I and probably most people expected.
We all know the biggest KPI is league attendance and for the period it does state quite a drop from essentially 19k to 17k as comparative period is 15/16 where we were in the playoff mix and probably had a much better feel around the place. There's a little Brexit reference in the principal risks and uncertainties but I'd assume KPMG recommended this as it seems a bit arbitrary.
The wage bill is up from £16.6m to £17.8m, still broadly chicken feed for this division. I'd imagine pension costs will go up next year as auto enrollment to pensions takes full hold of the admin staff but would struggle to see it being over £18.75m. We have a liability to pay someone £260k if some performance criteria is triggered, I assume it's Garner or Waghorn related as it wasn't present last year. Other than that, the accounts are pretty uninteresting including the related party notes that can have some unexpected, juicy items in them.
For completeness and for reference by everyone, our average consolidated loss over the last 4 years is £3.2m:
30/06/14 - £7.3m loss
30/06/15 - £5.5m profit
30/06/16 - £6.6m loss
30/06/17 - £4.3m loss
Interestingly if you extend this to 30/06/13 when we lost £9.8m, this creeps the average loss up to £4.5m per year which is probably less than I'd expect.
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| Update as our accounts were filed last week on 12:04 - Mar 17 with 3058 views | tractorboy7777 |
Gate receipts down 1.5m offset against 2m increase in TV money |  |
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| Update as our accounts were filed last week on 12:05 - Mar 17 with 3048 views | Bluefish |
Thanks for that. Scary stuff. We are in the worst position possible. Not big enough to ever compete properly at the top table and too big to settle to be a club that slashes all costs and sells players at 1st possible opportunity. We are in no man's land and drowning.
It is always good when there numbers come out and people reply with posts demanding that Evans leaves. It amazes me that many people don't think real money is involved in football. |  |
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| Update as our accounts were filed last week on 13:23 - Mar 17 with 2865 views | textbackup |
so the £6million chucked around isn't £6m this season then, ME is a few quid up. |  |
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| Update as our accounts were filed last week on 13:26 - Mar 17 with 2844 views | Bluefish |
| Update as our accounts were filed last week on 13:23 - Mar 17 by textbackup |
so the £6million chucked around isn't £6m this season then, ME is a few quid up. |
He is in the hole for 90 million plus whatever he paid to buy us according to the OP | |
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| Update as our accounts were filed last week on 13:38 - Mar 17 with 2805 views | sparks |
| Update as our accounts were filed last week on 13:23 - Mar 17 by textbackup |
so the £6million chucked around isn't £6m this season then, ME is a few quid up. |
"We made a loss for the financial year to 30/06/17 of £4.3m, which is broadly what I and probably most people expected. " |  |
| The presence of those seeking the truth is infinitely to be preferred to the presence of those who think they've found it.
(Sir Terry Pratchett) | | Poll: | Is Fred drunk this morning? |
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| Update as our accounts were filed last week on 13:39 - Mar 17 with 2792 views | TractorWood |
| Update as our accounts were filed last week on 13:26 - Mar 17 by Bluefish |
He is in the hole for 90 million plus whatever he paid to buy us according to the OP |
He took on our £32m debt (mainly Norwich Union) on acquisition at a reduced rate. This was largely believed between 25p and 75p in the pound. The inter entity accounting is opaque as the offshore entities don't file accounts so I'd think it's more like £70m (£90m owed less debt already on the books at acquisition). | |
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| Update as our accounts were filed last week on 13:51 - Mar 17 with 2738 views | PhilTWTD |
| Update as our accounts were filed last week on 13:38 - Mar 17 by sparks |
"We made a loss for the financial year to 30/06/17 of £4.3m, which is broadly what I and probably most people expected. " |
It what was announced at the AGM in December.
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| Update as our accounts were filed last week on 14:28 - Mar 17 with 2621 views | longtimefan |
I don’t understand your average loss values. If you average the last 4 year losses you state they equate to £5.9M per year. But if you add in the 9.8 for the previous year the average loss is 6.7M per year? | | | |
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| Update as our accounts were filed last week on 15:19 - Mar 17 with 2533 views | TractorWood |
| Update as our accounts were filed last week on 14:28 - Mar 17 by longtimefan |
I don’t understand your average loss values. If you average the last 4 year losses you state they equate to £5.9M per year. But if you add in the 9.8 for the previous year the average loss is 6.7M per year? |
2015 is a profit so it needs to be added back not added to the cumulative loss calculation for the 4 and 5 year averages respectively. [Post edited 17 Mar 2018 15:20]
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| Update as our accounts were filed last week on 15:39 - Mar 17 with 2481 views | TractorWood |
| Update as our accounts were filed last week on 13:51 - Mar 17 by PhilTWTD |
It what was announced at the AGM in December.
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Indeed but the accounts were signed on 28/02/18 so arguably any potentially adjusting post balance sheet events would need provision for or disclosure in the intervening period between AGM and signature. [Post edited 17 Mar 2018 15:40]
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| Update as our accounts were filed last week on 15:44 - Mar 17 with 2453 views | sparks |
| Update as our accounts were filed last week on 14:28 - Mar 17 by longtimefan |
I don’t understand your average loss values. If you average the last 4 year losses you state they equate to £5.9M per year. But if you add in the 9.8 for the previous year the average loss is 6.7M per year? |
I think its important to note the tax consequences. Whilst the people claiming that having a loss making club is somehow a profitable ruse are ridiculous... You can probably knock around 20% or so off the losses to reflect the tax offsetting in terms of the personal effect on ME's business(es) | |
| The presence of those seeking the truth is infinitely to be preferred to the presence of those who think they've found it.
(Sir Terry Pratchett) | | Poll: | Is Fred drunk this morning? |
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| Update as our accounts were filed last week on 15:48 - Mar 17 with 2434 views | longtimefan |
| Update as our accounts were filed last week on 15:19 - Mar 17 by TractorWood |
2015 is a profit so it needs to be added back not added to the cumulative loss calculation for the 4 and 5 year averages respectively. [Post edited 17 Mar 2018 15:20]
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Sorry. You are quite correct I missed the profit bit  [Post edited 17 Mar 2018 15:49]
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| Update as our accounts were filed last week on 15:49 - Mar 17 with 2427 views | TractorWood |
| Update as our accounts were filed last week on 15:44 - Mar 17 by sparks |
I think its important to note the tax consequences. Whilst the people claiming that having a loss making club is somehow a profitable ruse are ridiculous... You can probably knock around 20% or so off the losses to reflect the tax offsetting in terms of the personal effect on ME's business(es) |
It's an argument that's never really stood up to me. It's like betting someone £21 you'd burn £100 cash, you're still down £79. [Post edited 17 Mar 2018 15:50]
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