Islay Posted February 29 Share Posted February 29 4 minutes ago, DA Baracus said: Aiming to make cash from the playoffs Have we ever won a play-off? I don’t think we have. 0 Quote Link to comment Share on other sites More sharing options...
DA Baracus Posted February 29 Share Posted February 29 6 minutes ago, Islay said: Have we ever won a play-off? I don’t think we have. We've won individual games but no, have never been successful in any playoffs. 0 Quote Link to comment Share on other sites More sharing options...
Well over Par Posted February 29 Share Posted February 29 (edited) Let’s wait in Callum to digest the figures. wacky, please don’t comment on financial stuff. It’s a horrific loss but worse is the attempt to put a spin on it and explain numbers. Fukn cringed at that least time in league one we made a profit now it’s a huge loss why will the club not release a p and l? Something to hide ? stadium money? ? Real rosyth costs in that year ? Fuk all much happened mind? Crowds ? Last one in league one we had 62k last season 89k league cup. More games last season as we had league format. Never last time in league one spfl money higher much higher than last time too utilities. My understanding all these costs were fixed for a few years so more bluster director salaries? Come on cook and burn let’s see them extra commercial stuff ? What are they ? creditors not yet due 500k. Fuk me lots of questions to answer for me Edited February 29 by Well over Par 1 Quote Link to comment Share on other sites More sharing options...
Well over Par Posted February 29 Share Posted February 29 40 minutes ago, parsboi said: Had a look at the accounts there. Still £700k cash in bank though I’d want to know more about who the “other creditors” are at £500k. Not surprised at the loss figure it’s pretty much what has been touted around. Does hammer home to anyone in doubt about how essential not getting relegated is. Except we are going to have another big loss this year too so that doesn’t wash I’m afraid. No reason to doubt this info as the info I got on this loss was bang on 0 Quote Link to comment Share on other sites More sharing options...
da_no_1 Posted February 29 Share Posted February 29 On a serious note we exited administration less than 10 years ago. To post figures like this is totally unacceptable in any shape or form. 7 Quote Link to comment Share on other sites More sharing options...
North West Posted February 29 Share Posted February 29 1 minute ago, Well over Par said: Except we are going to have another big loss this year too so that doesn’t wash I’m afraid. No reason to doubt this info as the info I got on this loss was bang on This seasons loss is a rumoured significant 6 figure loss. 0 Quote Link to comment Share on other sites More sharing options...
Well over Par Posted February 29 Share Posted February 29 Just now, North West said: This seasons loss is a rumoured significant 6 figure loss. Well Into 6 figures mate already in January 1 Quote Link to comment Share on other sites More sharing options...
North West Posted February 29 Share Posted February 29 2 minutes ago, Well over Par said: Well Into 6 figures mate already in January Yep 0 Quote Link to comment Share on other sites More sharing options...
DA87 Posted February 29 Share Posted February 29 1 hour ago, Craigus said: At least you might get some of that juicy League One play-off cash this season You not got a fabby new website to check out? 2 Quote Link to comment Share on other sites More sharing options...
Well over Par Posted February 29 Share Posted February 29 19 minutes ago, North West said: Yep And Nisbet money about 200k will be in this figure not one’s just posted as Hibs sold him in June last year 0 Quote Link to comment Share on other sites More sharing options...
VinnyPar Posted February 29 Share Posted February 29 37 minutes ago, Well over Par said: And Nisbet money about 200k will be in this figure not one’s just posted as Hibs sold him in June last year Accounts are made up to end of May 2024, Nisbet was sold on the 1st of July so not included in these accounts. 0 Quote Link to comment Share on other sites More sharing options...
Well over Par Posted February 29 Share Posted February 29 Correct vinny. That was my point. They will show or not as they choose not to show p and l in next years accounts 0 Quote Link to comment Share on other sites More sharing options...
Heaton Posted February 29 Share Posted February 29 Time for another leave of absence from this thread... the doom and gloom is unbearable. 1 Quote Link to comment Share on other sites More sharing options...
North West Posted February 29 Share Posted February 29 "YOU CAN'T HANDLE THE TRUTH" 0 Quote Link to comment Share on other sites More sharing options...
CallumPar Posted February 29 Share Posted February 29 (edited) Not a great deal of information available, as we’ve taken every small company exemption possible. That’s to be expected though. Due to taking advantage of small company exemptions, we don’t have to disclose directors’ remuneration, which is obviously a contentious point, given rumoured salaries. The finance part of chairman’s report mentions that we should have a better financial performance this year, due to increased away crowds at east end and prize money in championship being better. Also mentioned that the new floodlit all weather pitch should be available for club and local community use from April. Obviously, we made a massive loss of over £1m. But we don’t have any breakdown of that and they’ve not provided any real details for reasoning behind that. Very little movement in fixed assets - would expect a big movement next year, to reflect the training ground/facilities. Our current stock at 31 May was significantly higher than last year. I think this is likely to be having the new kit in-house and ready to sell prior to 31st May, or something similar. But that’s just my guess. Our cash balance has dropped by around £600k, but was still sitting at £728k - which is very healthy. Although, it’s worth noting that the construction work underway just now will likely be reducing that a lot. But then, there’s this year’s revenue and the government grant that will cover a lot of that too. Our creditors balance (due within one year or less) is also high and has increased a lot over the year. We owed £880k at 31 May, which was higher than our cash balance. Trade creditors of £187k is around a 400% of where it was last year. ‘Other creditors’ of £505k is also a strange one. Such a significant balance falling under ‘other’ is unusual. Most accountants/auditors would be looking for the company to provide some information/context behind a creditor balance that amounts to 78% of the cash balance. The ‘other creditors’ figure last year was significantly lower, at £172k. My suggestion/thoughts are that this will largely relate to season ticket revenue that was received prior to 31 May, but has been ‘deferred’ until the current season. Likewise, tickets/hospitality/sponsorship for the St Pauli match will have been treated the same at this point in time. It will be reversed out of there and allocated to this current season’s revenue, rather than any cash leaving the account for that ‘creditor’, in that case. The long term liability remains unchanged. This relates to the convertible bonds for the investor group. Very unlikely this ever gets paid. It still seems incredibly likely this is converted into shares in the next year or so. In terms of the future, the Going Concern note seems to have some specific mention that they are trying to forecast cash flows, with assumptions of several aspects; including net transfer activity and assumptions on performance of the academy. Those concern me slightly, as any assumptions may end up being overly ambitious. It also mentions that we have made assumptions on ‘loans from DAFC GmbH’ - which suggests they believe that the club will require more cash to be injected, but will need a return on any further investment. Sorry if that’s not really helped anyone. I’ve tried to stick to breaking down factual information within the accounts, but have highlighted where I’ve given possible reason/assumptions that aren’t necessarily factual. Overall, the outlook isn’t quite as bleak as the net loss may suggest (in my opinion). But it’s important that we are as prudent as possible, as a club, for the foreseeable future. If anyone has specific questions on something within the accounts, particularly regarding any terminology, I’m happy to give the best response I can. But any questions about what makes up any of the balances, would be pure speculation/guesswork. @Well over Pargiving you a tag, since you asked for a breakdown of things. Hopefully this helps a wee bit, apologies if not. Edited February 29 by CallumPar 12 Quote Link to comment Share on other sites More sharing options...
parsforlife Posted February 29 Share Posted February 29 @CallumPar Don’t know exactly how these work, but is it possible the uk gov grant for rosyth will be part of the 500k due with it being ‘repaid’ once we furfill the terms of that grant(which is presumably pitch is in use by community)? 0 Quote Link to comment Share on other sites More sharing options...
CallumPar Posted February 29 Share Posted February 29 3 minutes ago, parsforlife said: @CallumPar Don’t know exactly how these work, but is it possible the uk gov grant for rosyth will be part of the 500k due with it being ‘repaid’ once we furfill the terms of that grant(which is presumably pitch is in use by community)? In theory, this could happen if we’d received the money before 31st May. However, I believe it was only announced that we were getting the grant in January this year, which would mean it shouldn’t be included in the figures at all. Every chance there are accruals in the ‘other creditors’ figure, for costs that had been incurred prior to 31st May and had not been paid/invoiced yet. 1 Quote Link to comment Share on other sites More sharing options...
CallumPar Posted February 29 Share Posted February 29 Following @parsforlife’s question, I did a bit of digging about this government grant. It was only awarded last month, so will not be included here - but it was mentioned that planning applications etc were included in the profit & loss account. Per the government’s announcement, total project costs for this phase of the training facility are expected to be £824k. This can be found in the Scottish download from the following link: https://www.gov.uk/guidance/multi-sport-grassroots-facilities-programme-projects-2023-to-2024 East Kilbride United got more money, for what looks to be a similar size of project. So did the charitable/community aspects of Falkirk and Partick Thistle. 1 Quote Link to comment Share on other sites More sharing options...
101 Posted February 29 Share Posted February 29 3 hours ago, North West said: We lost the services of Stephen Taylor, dont know if he was on the payroll or not. Why would that matter? All the directors are included as employees regardless. 0 Quote Link to comment Share on other sites More sharing options...
North West Posted February 29 Share Posted February 29 4 minutes ago, 101 said: Why would that matter? All the directors are included as employees regardless. Like other past personnel in an elevated position at the club, he may have been good enough to have given his services free of charge. But I've no idea. If he had then it's another salary we'll now be paying. 0 Quote Link to comment Share on other sites More sharing options...
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