New beginnings - 25% Truth, 80% Bollocks

[STFC_Manc]

Yep, we basically were trading at a 1m loss - increased costs and reduced income, outside the one off event.

Bringing in roughly 6m and spending 7m.

The other 1.15m is not a "cost" because we get an asset of that value.  We will now depreciate that asset over 10-25 years, depending on method they choose.  That depreciation will appear as a cost every year and reduce profitability, and tax exposure, over a number of years.

The first two lines are correct, we lost c£1m in the financial year.

The £1.15m was the donation to Trust STFC, which was a cost in the general expenses.

The club hold an asset (the JV investment), it won't be depreciated but can be revalued.

[4D]

Just looking at the accounts again, one thing that struck me was the increase in staff, almost doubling to 214. Approx 90 extra people. No other details, so could be a mix of part time/full time. Even if the average pay is 20k, that's another 1.8m costs up on last year. What are these extra roles? 

[RobertT]

The first two lines are correct, we lost c£1m in the financial year.

The £1.15m was the donation to Trust STFC, which was a cost in the general expenses.

The club hold an asset (the JV investment), it won't be depreciated but can be revalued.

I was stating that the 1.15m used to pay for the Trusts half was accounted for as expenses, and therefore hit the P&L.

The clubs purchase of 50% is not listed as an expense, as it shouldn't be (which is how the paper based Profit occurs for last year).  Instead, it goes straight to the Balance Sheet as an asset.  usually, fixed assets are depreciated, especially property related.  It could be that in this case it is treated as Shares in a business.

The cash position remains neutral - money came in and the exact same amount went out.

[RobertT]

Just looking at the accounts again, one thing that struck me was the increase in staff, almost doubling to 214. Approx 90 extra people. No other details, so could be a mix of part time/full time. Even if the average pay is 20k, that's another 1.8m costs up on last year. What are these extra roles? 

By and large it would be match day related I would guess, next to no cost impact (in the grand scheme of things).

[Posh Red]

Just looking at the accounts again, one thing that struck me was the increase in staff, almost doubling to 214. Approx 90 extra people. No other details, so could be a mix of part time/full time. Even if the average pay is 20k, that's another 1.8m costs up on last year. What are these extra roles? 

Hasn’t this coincided with bringing the food & drink sales in house. I’m assuming (which I know is a dangerous thing to do) that this will explain a lot of the increase, especially as everything else seems to be running on a shoestring staff.

[Bob's Orange]

That's an even easier response - no comment

Is that the new Trust motto?

[Bennett]

No comment

[4D]

Bennett B'stard 

[The Artist Formerly Known as Audrey]

‘Meet the new boss

Same as the old boss’

[Batch]

Hasn’t this coincided with bringing the food & drink sales in house. I’m assuming (which I know is a dangerous thing to do) that this will explain a lot of the increase, especially as everything else seems to be running on a shoestring staff.

Yeah, I assume 0 hours contracts of all types are included, coaches, food staff, etc, etc.

[Nemo]

Yeah ideally you'd give that number in FTE rather than headcount, but I assume it is a lot of casual staff. I think we'd have noticed if 200 people were working at the club!

[The Artist Formerly Known as Audrey]

So, does that £3.6m in admin costs include the wage bill?

[4D]

Would love to see a breakdown of cost of sales and admin expenses. Taking out the 1.15m re the stadium, there is still £7m of costs. If the players wages are circa £2m what is the other £5m for? You'd have thought the players wages would have been the bulk of costs, not less than 30%.

[Bob's Orange]

Would love to see a breakdown of cost of sales and admin expenses. Taking out the 1.15m re the stadium, there is still £7m of costs. If the players wages are circa £2m what is the other £5m for? You'd have thought the players wages would have been the bulk of costs, not less than 30%.

Wasn't the breakdown what the Trust asked to see, and then it was passed over to Fair Game who were going to break all this stuff down for the lay person?

[Batch]

So, does that £3.6m in admin costs include the wage bill?

Or would that be cost of sales?
(not aimed at you Aud).