Trust should help buy Brezovan

[Reg Smeeton]

a bit harsh on bart i think.its miss management of the books by the board on better than expected gates that has led to this seasons money balls ups.there should have been plenty to fund a keeper

  The official debt  , albeit not written off by the auditors, is given  as 14,667,309 pounds in the recent accounts up to 2 years ago.

  That's a lot of money spent in reaching the basement of English pro football, a semi competent Board could have done it much more cheaply.

[pauld]

FWIW, Reg, I think a fair chunk of that has now been "restructured" - ie converted into long-term loans and hence taken off the balance sheet.

[Reg Smeeton]

FWIW, Reg, I think a fair chunk of that has now been "restructured" - ie converted into long-term loans and hence taken off the balance sheet.

 Well its on my balance sheet......can I just rub it out or put a line through it then, I believe its what they do in the New Zealand school of accounting.

[Simon Pieman]

I thought a lot of it would have been written off via the CVA but I guess we'll find out when the accounts are probably finalised in 3 years time.

Not picking holes or nothing but if it's a long term loan, it would still be on the balance sheet as it would represent an obligation to pay. But like Reg said, it wouldn't surprise me if it's been crossed off just because someone believes it can be!

[Northern Red]

*takes deep breath*

Firstly I've not a clue where the money has gone, all I said was we're broke. 14,667,309 pounds down according to Reg/Accounts, so I'd say I was about right. We also seem to be losing money at the rate of 700/750k per season, frequently bailed out by the Wills. Thus we're hardly in the position to be buying players. Some suggestions of "buy him" and "lets build a new ground" imply we've got money, when the facts are there. We're a financial crisis with no assets, and are not in the position to spend what little money we have willy-nilly. The board would love to buy Brez, Wisey would love to buy Brez, and the fans wouyld love Brez to be bought. But the money is simply not there.... unless you raid the RAF, bucket collect and trim bits off in various places and look under the sofa. It may happen, but its needs finances to be raised in appropriate, not by smashing open this mythical piggybank that everyone seems to think the club is hiding somewhere.

And Bart :wanker:

[Panda Paws]

And Bart :wanker:

Well said

[Arriba]

but the money should be there.thats what stinks.we have decent gates exceding expectation but piss poor book keeping!

[Northern Red]

but the money should be there.thats what stinks.we have decent gates exceding expectation but piss poor book keeping!

It should, but a legacy of bad debts and repayments, means that any money made now goes straight towards paying CVA's and paying off old bills. There's nothing leftover and we're still losing money at the rate of 700k per season.

In about 10 years when we've repayed £15 million in debts we'll start buying players again.

[Arriba]

shut up its depressing me.

[Simon Pieman]

In the 2001/2002 and 2002/2003 season we had a turnover of £2.9m (approx).
This rose to £4m in the following season following a good season. Total wages in all of those season were in the region of £2.7-2.9m.

Basically we don't make much (if any) once wages are paid out, then you have your other expenses. It's a cunt.

[hansgruber]

do we have any assets on the balance sheet?

[Simon Pieman]

About £1.5m or so when the last accounts were filed. Unfortunately we had £11.35m in liabilities (all approx)

[hansgruber]

what assets have we got? The club's a state

[Simon Pieman]

Buildings, plant and vehicles and intangibles (players I would guess).

The debt Reg refers to is the retained loss in the accounts.

[hansgruber]

intangibles will be goodwill. Thought we sold all our vehicles (including the youth team minibus) years ago. What buildings do we own?