New beginnings - 25% Truth, 80% Bollocks

[RobertT]

Oh, and the biggest alarm bell in the Accounts remains the change in position of short term debt, the amounts owed to trade creditors.  That increased by 700k in one year and nothing we have heard from the club suggests paying our bills has become easier since May 2023.  I just cannot fathom an independent review NOT looking into that.  It could just be a freak of reporting dates, but it sure as fuck would be the area I investigate - it's where the trouble can come from.

[theakston2k]

What really highlights it as a sham is the bit that highlights the increase in staff numbers. That’s just the move to in house catering so all the match day staff. Doesn’t touch on the fact the reality is the backroom staff has been cut to almost non existent.

[RobertT]

What really highlights it as a sham is the bit that highlights the increase in staff numbers. That’s just the move to in house catering so all the match day staff. Doesn’t touch on the fact the reality is the backroom staff has been cut to almost non existent.

Which was supported by the increase in catering costs.  That is precisely the sort of detail you'd like a good deal of explanation devoted to.  We took a decision to bring catering in house, that is public knowledge, but here we can explain what that meant.  We employed more part time/casual workers, increasing staff numbers and costs.  We spent more on food an beverage supplies, we spent more kiosks etc.  In return, our revenue went from x to y, creating a change in profitability of z.  Offsetting that we have allocated a potential liability of xx given legal proceedings commended by Centreplate, with whom we severed our contractual obligations.

[JoeMezz]

What on earth is over 3 mil on "football" being spent on? Because it certainly is not the team...

[Swindon Please Win]

What a fantastic and in depth report that is, the pretty pictures are nice too.

[Bob's Orange]

What on earth is over 3 mil on "football" being spent on? Because it certainly is not the team...

Yeah 'football' is incredibly vague. I think what most fans were looking for was clarification on the Admin costs figure, and a breakdown of these. Perhaps 'football' refers to goalposts, and STFC/Fair Game attempting to shift them in an attempt to provide absolutely zero clarity at all.

[Bogus Dave]

This is what they fobbed the trusts review off for, don’t forget

[tans]

What is the point?

[Bob's Orange]

This is what they fobbed the trusts review off for, don’t forget

I think Sam M was under the impression the Trust never even got to see these. I wonder if Bennett could opine?

[theakston2k]

This is what they fobbed the trusts review off for, don’t forget

This whole thing just looks like a method for dodgy owners to try and legitimise dodgy accounts. They are literally taking the piss out of us now.

[ChalkyWhiteIsGod]

"Football" clearly includes a fair bit more than just wages, I think ground maintenance must be in there.

I'm sure speed and cocaine strength and conditioning falls under football.

[RobertT]

What is the point?

That kind of statement is necessary when publishing financial information - you need to cover your arse in the event someone actually tries to use it to base decisions from.  It's essentially saying they were given the data, not able to review authenticity and therefore if you use the information it's your risk and don't come back to us and sue us if it was wrong.

[JoeMezz]

3.6 mil admin fees, how does that compare to other similar clubs?

[ChalkyWhiteIsGod]

So presumably that would be in overheads. It would obviously be nice to know what "Football" involves as it's going to be more than just the first team wages - also playing staff, academy costs perhaps?

Its a bit like Keiths appraisal in the office, isn't it?

"Under strengths you've just put accounts, that's your job"

You're a football club Swindon. You can't just file a ton of shit under 'football'

[RobertT]

3.6 mil admin fees, how does that compare to other similar clubs?

Next to impossible to tell, given so few produce any sort of detailed breakdowns.  It also open to interpretation as to what is classified as Cost of Sales vs Admin/SG&A.  The latter should essentially be a bucket for the costs of running a business that are not going to vary by how much business you actually do.  There is a case to be made that a Managers salary would live here for example - you can run a football club without one, so it's not a trading cost.  An item like a Pasty, sold to a customer, is easily identifiable as a Cost of Sale.  Between these two it can be much greyer.