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Author Topic: Accounts  (Read 2591 times)
Flashheart

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« on: Tuesday, April 24, 2012, 09:47:08 »

http://thewashbag.com/2012/04/24/counting-the-cost-of-failure/

1.3 mill loss then.

And to think there were some saying we didn't spend enough.
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I like 'em firm and fruity.
tans
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« Reply #1 on: Tuesday, April 24, 2012, 09:50:06 »

That'll be all those players ln 10k a week Wink
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Simon Pieman
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« Reply #2 on: Tuesday, April 24, 2012, 09:52:28 »

That's last season, bear that in mind.
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Can somebody pick me up a Sports Almanac while they are back in 2011 please?
DRS

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« Reply #3 on: Tuesday, April 24, 2012, 09:54:16 »

Will that include Austin money?
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pericarp
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« Reply #4 on: Tuesday, April 24, 2012, 09:57:02 »

We spent 500k this year though.
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Ardiles

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« Reply #5 on: Tuesday, April 24, 2012, 09:58:51 »

I have had a skim read.  Frustrating that we're looking in the rear view mirror, to an extent (given that the accounts under discussion are for the year ended 31/05/2011), but interesting none the less.  Not great, but neither am I horrified; the 2010/11 season being one of the lowest points in our history.  Andrew Fitton gets good marks as a scout (Ferry, Caddis) but those redundancy costs...ouch!

I will give it a closer read later on.
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« Reply #6 on: Tuesday, April 24, 2012, 09:59:19 »

Will that include Austin money?

Yeah
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« Reply #7 on: Tuesday, April 24, 2012, 10:02:24 »

I have had a skim read.  Frustrating that we're looking in the rear view mirror, to an extent (given that the accounts under discussion are for the year ended 31/05/2011), but interesting none the less.  Not great, but neither am I horrified; the 2010/11 season being one of the lowest points in our history.  Andrew Fitton gets good marks as a scout (Ferry, Caddis) but those redundancy costs...ouch!

I will give it a closer read later on.

It's not that bad considering it includes investing in Caddis, Ferry, Ritchie and Flint. As you said, looking in the rear view mirror, It's hard to believe that those players won't see us at least recoup that money in the future.
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fittons_coaching_badge

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« Reply #8 on: Tuesday, April 24, 2012, 10:03:43 »

We spent 500k this year though.

That will include agents fees and signing on fees etc
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@chetanv82
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« Reply #9 on: Tuesday, April 24, 2012, 10:04:04 »

What sort of contract was Hart and Mcpharlane on where they get quite a sizable redundancy?
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DRS

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« Reply #10 on: Tuesday, April 24, 2012, 10:06:46 »

How sizable?
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BenTheRed

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« Reply #11 on: Tuesday, April 24, 2012, 10:10:29 »

How sizable?
263,982 , ok thats for five members of staff: Danny Wilson, Peter Shirtliff, George Wood, Paul Hart and Ian McPartland

i'm not sure how contracts and stuff works, but shouldn't wilson and  hart have been sacked without compensation?
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« Reply #12 on: Tuesday, April 24, 2012, 10:11:53 »

Those cunts should have been paying us.
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Ardiles

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« Reply #13 on: Tuesday, April 24, 2012, 10:12:06 »

It's not that bad considering it includes investing in Caddis, Ferry, Ritchie and Flint. As you said, looking in the rear view mirror, It's hard to believe that those players won't see us at least recoup that money in the future.

Very true.  One of the anomalies (or quirks) of financial reporting for football clubs is that the carrying values of the better, more marketable players are not capitalised and shown as balance sheet assets.  All for understandable reasons - how exactly would you obtain the fair value for a player?  But nevertheless it does mean that the financial statements recognise the cash outlay in the P&L account, but not the associated asset value in the balance sheet...which skews the picture.  Club accounts are going to look rosy in the years when we sell talent and less so when we buy - which is misleading, unless the spending is profligate.
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Peter Venkman

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« Reply #14 on: Tuesday, April 24, 2012, 10:18:06 »

Hart and MacParland were both on very short term contracts with bonuses linked to survival....which we did not so I would imagine it would not have been much of a golden handshake more of a shitty fuck off.
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