vikingTON Posted June 26 Share Posted June 26 12 minutes ago, EdinburghLivi said: The statement in the accounts suggests they were on target to break even last season. 3rd section circled. Did you actually read that highlighted section? How has your club delivered on those back on a fag packet provisos in the 12 months since? You can set pretty much any target for breaking even - the hard part is actually doing it. 1 Quote Link to comment Share on other sites More sharing options...
EdinburghLivi Posted June 26 Share Posted June 26 I'm a bit unclear on the figures as the financial reports are ass as Kieran Maguire says. £1.6m of the profit and loss negative reserve were there while Hogarth was involved (the figure was -£2.85m in 2018 so very similar to now so £3m being quoted as losses under Ward is either being intentionally misleading or misunderstanding the figure. The key figures that concern me are the £462k loss and the £1m in net liabilities which of course includes the £1.6m due to Scottish Government. While we had £900k in the bank, I'm annoyed that is going towards court cases (including the seemingly frivolous pursuit of Hogarth for fraud) rather than paying that debt off at the earliest opportunity/putting money towards the playing budget. 0 Quote Link to comment Share on other sites More sharing options...
EdinburghLivi Posted June 26 Share Posted June 26 (edited) 11 minutes ago, virginton said: Did you actually read that highlighted section? How has your club delivered on those back on a fag packet provisos in the 12 months since? You can set pretty much any target for breaking even - the hard part is actually doing it. You're right that they can set any target. It's the last line that suggests they are "confident that this break even position will be delivered or improved upon supported by performance to date" which I took to mean performance in FY 2024 YTD. They will have been putting these accounts together roughly around March this year which will have come after two away quarter finals to the old firm. The statement suggests to me that they are anticipating a profit for FYE June 2024, presumably attributable to those unexpected cash boosts. Edited June 26 by EdinburghLivi 0 Quote Link to comment Share on other sites More sharing options...
vikingTON Posted June 26 Share Posted June 26 4 minutes ago, EdinburghLivi said: I'm a bit unclear on the figures as the financial reports are ass as Kieran Maguire says. One of the three key assumptions for your target involved the club's final league position in the SPFL [sic] in 23/24 - which is now known. Another was transfer revenue generated, for which a general outcome (a lot; some; hee-haw) can also be derived. When those key assumptions underpin the break-even target in your account statement, I think it would be safe to conclude that last season's performance did not actually meet the target. 0 Quote Link to comment Share on other sites More sharing options...
Roger the cabin boy Posted June 26 Share Posted June 26 9 minutes ago, virginton said: You can set pretty much any target for breaking even - the hard part is actually doing it. 2 cup ties that wouldn’t have been anticipated at that time should have helped. 0 Quote Link to comment Share on other sites More sharing options...
Passionate Posted June 26 Share Posted June 26 9 minutes ago, EdinburghLivi said: I'm a bit unclear on the figures as the financial reports are ass as Kieran Maguire says. £1.6m of the profit and loss negative reserve were there while Hogarth was involved (the figure was -£2.85m in 2018 so very similar to now so £3m being quoted as losses under Ward is either being intentionally misleading or misunderstanding the figure. The key figures that concern me are the £462k loss and the £1m in net liabilities which of course includes the £1.6m due to Scottish Government. While we had £900k in the bank, I'm annoyed that is going towards court cases (including the seemingly frivolous pursuit of Hogarth for fraud) rather than paying that debt off at the earliest opportunity/putting money towards the playing budget. Is the 1.6mil the COVID loan, geez, League 1 clubs had to get by on 150k from Scot Gov 0 Quote Link to comment Share on other sites More sharing options...
Livi Posted June 26 Share Posted June 26 7 minutes ago, EdinburghLivi said: I'm a bit unclear on the figures as the financial reports are ass as Kieran Maguire says. £1.6m of the profit and loss negative reserve were there while Hogarth was involved (the figure was -£2.85m in 2018 so very similar to now so £3m being quoted as losses under Ward is either being intentionally misleading or misunderstanding the figure. The key figures that concern me are the £462k loss and the £1m in net liabilities which of course includes the £1.6m due to Scottish Government. While we had £900k in the bank, I'm annoyed that is going towards court cases (including the seemingly frivolous pursuit of Hogarth for fraud) rather than paying that debt off at the earliest opportunity/putting money towards the playing budget. I think without seeing the full breakdown of profit and loss its hard to get the full statement. My take is there is a fine line being taken on where the club is solvent or not. I am sure note 1.2 was used the previous year also. It was stated we have a top 4 budget this year but can we really afford that ? 0 Quote Link to comment Share on other sites More sharing options...
vikingTON Posted June 26 Share Posted June 26 (edited) 4 minutes ago, EdinburghLivi said: You're right that they can set any target. It's the last line that suggests they are "confident that this break even position will be delivered or improved upon supported by performance to date" which I took to mean performance in FY 2024 YTD. They will have been putting these accounts together roughly around March this year which will have come after two away quarter finals to the old firm. The statement suggests to me that they are anticipating a profit for FYE June 2024, presumably attributable of those unexpected cash boosts. Why would they be aware of this handy guarantee of going concern status in March this year - while also being fully aware about your league position - but mention the latter as the key condition for break-even but not the former? What you claim simply does not square with your club's published financial statement. Edited June 26 by vikingTON 0 Quote Link to comment Share on other sites More sharing options...
Roger the cabin boy Posted June 26 Share Posted June 26 Just now, Livi said: I think without seeing the full breakdown of profit and loss its hard to get the full statement. At a time of the club’s relegation, with the only known job cut seeming to be the mandatory GK coach… would be transparent of the club to show how much is being spent on salaries. 3 minutes ago, Livi said: It was stated we have a top 4 budget this year but can we really afford that ? Not if Ward keeps using the club as a piggy bank to fight court cases that he should be paying for himself. 2 Quote Link to comment Share on other sites More sharing options...
Troy.1995 Posted June 26 Share Posted June 26 49 minutes ago, CharlieWhisky said: If the losses for 23/24 were projected as £800k and you add £500k court costs.. well I feel faint. At least we won’t find out until next June. Now for the optimism: we beat a bunch of part timers from the nowhere leagues last night! In a meaningless pre season friendly that only happened because of Martindale and Scott Pittmans previous connection with Broxburn.Get real FFC. 0 Quote Link to comment Share on other sites More sharing options...
Livi Posted June 26 Share Posted June 26 3 minutes ago, Roger the cabin boy said: At a time of the club’s relegation, with the only known job cut seeming to be the mandatory GK coach… would be transparent of the club to show how much is being spent on salaries. Not if Ward keeps using the club as a piggy bank to fight court cases that he should be paying for himself. Notice in last year the staff count has increased by 7. If playing department has about 35 ish people then that leaves 42 people. Stewards and turnstile staff wont be part of that number then that seems a-lot of people when the mantra is we have lots of volunteers? I wonder how much of the losses accounts for the team bus that also needed a nee engine? 0 Quote Link to comment Share on other sites More sharing options...
Roger the cabin boy Posted June 26 Share Posted June 26 2 minutes ago, Troy.1995 said: In a meaningless pre season friendly that only happened because of Martindale and Scott Pittmans previous connection with Broxburn.Get real FFC. Compared to what’s going on behind the scenes, the happenings on-pitch are a fucking sideshow. 0 Quote Link to comment Share on other sites More sharing options...
Durnford Posted June 26 Share Posted June 26 2 hours ago, Livi said: Notice in last year the staff count has increased by 7. If playing department has about 35 ish people then that leaves 42 people. Stewards and turnstile staff wont be part of that number then that seems a-lot of people when the mantra is we have lots of volunteers? I wonder how much of the losses accounts for the team bus that also needed a nee engine? The playing department will be considerably more than 35. Apart from the squad there's also the coaching staff which seem to number ten according to the official site. Added to this there is the Woman's team and Academy. Some of these are manned by part time or volunteers but presumably the numbers are relevant. In addition didn't the Woman's team get promoted last season; presumably that meant that the coaching team increased? I seem to remember the they also had a change of team coach as well. 0 Quote Link to comment Share on other sites More sharing options...
Livi Posted June 27 Share Posted June 27 8 hours ago, Durnford said: The playing department will be considerably more than 35. Apart from the squad there's also the coaching staff which seem to number ten according to the official site. Added to this there is the Woman's team and Academy. Some of these are manned by part time or volunteers but presumably the numbers are relevant. In addition didn't the Woman's team get promoted last season; presumably that meant that the coaching team increased? I seem to remember the they also had a change of team coach as well. you been hiding recently? Missed your chat Volunteers are not staff members. I think this is just the mens team otherwise the staff numbers as you indicate would suggest a deeper under inflation of staff members. 0 Quote Link to comment Share on other sites More sharing options...
Roger the cabin boy Posted June 27 Share Posted June 27 8 hours ago, Durnford said: In addition didn't the Woman's team get promoted last season; presumably that meant that the coaching team increased? I seem to remember the they also had a change of team coach as well Woman’s team should be heavily subsidised by either the government, SFA, UEFA etc, or all of the above. 0 Quote Link to comment Share on other sites More sharing options...
Dav nan Gael Posted June 27 Share Posted June 27 Any Livi/WL man entertaining the stain that is VT,will answer to me............. -1 Quote Link to comment Share on other sites More sharing options...
Spider Rico Posted June 27 Share Posted June 27 You guys will likely get around 350 tickets for the game against us at Lesser Hampden on 10th August 1 Quote Link to comment Share on other sites More sharing options...
Dav nan Gael Posted June 27 Share Posted June 27 Livi v Pars 1st up............... 0 Quote Link to comment Share on other sites More sharing options...
Durnford Posted June 27 Share Posted June 27 2 hours ago, Livi said: you been hiding recently? Missed your chat Volunteers are not staff members. I think this is just the mens team otherwise the staff numbers as you indicate would suggest a deeper under inflation of staff members. Think you'll be seeing a number of us returning now the Euros are effectively over (for us anyway). The woman's team are part time employees aren't they? I suspect the same goes for the coaching team although I think you're correct about the academy being staffed by volunteers. 0 Quote Link to comment Share on other sites More sharing options...
CharlieWhisky Posted June 27 Share Posted June 27 Surely nobody in the women’s setup gets paid? 0 Quote Link to comment Share on other sites More sharing options...
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