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Author Topic: Latest accounts  (Read 10670 times)
Peter Venkman


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« Reply #30 on: Wednesday, March 14, 2018, 15:25:44 »

I think they sold Cameron Mcgeehan to Barnsley for about a million quid.
Thanks I have not heard of him TBH.

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Bob's Orange


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« Reply #31 on: Wednesday, March 14, 2018, 15:31:40 »

Thanks I have not heard of him TBH.



Not had I!! Iím sure they had moved on about half a dozen players for decent money but can only see the three mentioned so Iím probably wrong.
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« Reply #32 on: Thursday, February 28, 2019, 18:55:18 »

Lost £1.7m last season, debt up to £6m
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Thingie


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« Reply #33 on: Thursday, February 28, 2019, 19:59:41 »

how?
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Bogus Dave
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« Reply #34 on: Thursday, February 28, 2019, 20:14:57 »

Itís all debt to power (unless Iím misreading it) - loams are up £2m, amount owed to power has gone up £1.5m
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Thingie


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« Reply #35 on: Thursday, February 28, 2019, 21:09:20 »

ok. But are you suggesting that in order to break even we'd need to shed 1.7M  (or increase revenues).

only I can take div 4 dross on the basis of breakeven, but not that.

mind you, we are taking about Flitcrofts 'top budget' season. Would be more worrying if it happened again.

No doubt one of the accountants will be along in a minute to say we've got it wrong
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Sir red ken
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« Reply #36 on: Thursday, February 28, 2019, 21:46:45 »

The whole idea of flogging talent and running the club as a sustainable business seems to have failed. How can we afford to go up if we can't make a profit in this league? As time goes on our revenue streams will reduce and the debt will get worse.Its a case of kicking the can down the road and now LP is owed a lot of money, he's going to want it back sometime soon. Wellens may have a summer recruitment list but unless its free signings or loans we're not getting anyone. Dark days for the Town
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RobertT


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« Reply #37 on: Friday, March 1, 2019, 00:05:53 »

Certainly looks like a loss of just shy of 1.8m for the year end 31st May 2018, but that does come after two years of profits, so the club is back to where it was in 2016.  We look to have made 3.4m over the two years previous to last.  Power funded the loss with a long term loan, he paid in 2.7m and took out 800k to repay other loans to himself.  The Long Term debt has increased but short term has stayed below historical levels - so we are seemingly paying people off when due and storing up the debt on Power to cover what Revenue won't by itself.

Certainly backs-up the description of last years budget as being a big enough one to expect promotion, as it is unlikely we spent 1.7m on postage! 
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Cookie


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« Reply #38 on: Monday, March 4, 2019, 12:56:23 »

https://www.bbc.co.uk/sport/football/47440998

Power claiming £6m input, does that include the transfer profits? If so that's bonkers money for a shit League Two team.
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Shrivvy Road


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« Reply #39 on: Monday, March 4, 2019, 13:16:03 »

This is the most important bit from this

"But if in a year or two years time, when we can get these deals across the line, if I wasn't to be here then at least owning our own stadium, having a training ground, I can attract a big investor that had more money than I have, to take it to the next level and then hopefully I've left a good legacy.
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Panda Paws
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« Reply #40 on: Monday, March 4, 2019, 13:22:40 »

https://www.bbc.co.uk/programmes/p072jk6y

Full interview
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RobertT


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« Reply #41 on: Monday, March 4, 2019, 13:42:29 »

https://www.bbc.co.uk/sport/football/47440998

Power claiming £6m input, does that include the transfer profits? If so that's bonkers money for a shit League Two team.

In short, yes.
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Thingie


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« Reply #42 on: Monday, March 4, 2019, 13:51:49 »

Thanks for the link PP.

In short, yes.

Did you deduce that from the accounts?

Staggering.

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RobertT


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« Reply #43 on: Monday, March 4, 2019, 13:58:38 »

Yes, we owe him at least 3m by end of last season and if we repeated the budget that will grow to about 4.7m.  He has repaid some earlier loans on top of that.  The basic accounts donít give enough detail to confirm where it has been spent, but we donít trade in a complex market, so you can take a stab it has gone largely on player wages on not fees.
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Thingie


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« Reply #44 on: Monday, March 4, 2019, 14:08:26 »

oh sorry, I thought you meant 6m net, i.e. including the profits already.

so 4.7m then (assumed). still a massive loss when we thought we (I sillily) thought we were near breakeven.

mind you, if the training ground and ground purchase do go ahead it would probably be worth it
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