2013 Accounts

[Bob's Orange]

According to Sam have been published.

Fall in deficit of around 10 million. STFC Ltd listed as going concern.

[tans]

Is that good or bad? I have no fucking idea

[LucienSanchez]

I'll wait until Pieman dissects it... he makes it understandable for us idiots.

[Honkytonk]

That all sounds good. Presume they'll be available through the website or something?

[Samdy Gray]

http://thewashbag.com/2013/11/13/swindon-towns-201213-accounts-cause-for-concern/

[Bob's Orange]

The going concern doesn't sound good but as others have said we need Pieman's feedback before we can be sure.

[Ardiles]

The reduction in the deficit is clearly a good thing.  Andrew Black's parting gift.  He dropped a few balls during his tenure but, on this point, he deserves our thanks.  A lot.

Of more concern is the going concern qualification the auditors have given to the financial statements.  In the real world, this would be a major cause for concern.  (If the company you worked for issued a set of financial including a statement like this, you would probably start looking for a new job.)  But this is STFC and the murky world of football finance.  It could mean something, or nothing.  I think we should let Si expand.

The Washbag also has a quick fire reaction piece on this.

[Bob's Orange]

For those too lazy to click the link sent by Sam

Edit: They've asked we not copy and paste their content, which is fair enough, so removed content and link added for the inconvenience of the impossibly lazy. Bazza. x

http://thewashbag.com/2013/11/13/swindon-towns-201213-accounts-cause-for-concern/

[pauld]

measures to diversify and increase revenues were outlined by former director Steve Murrall in the Business Plan presentations in July – where an ambitious projected increase in revenue of £2m was stated for 2013/14.

Wonder if this is why he was shovelled out the door somewhat unceremoniously this week? Shortfall in the projected targets maybe?

[pauld]

:no:Don't think so. Remember these only go to July, giving him just four and a half months to achieve those targets before being kicked out.

They only go to May 31st don't they? Didn't mean a direct link between publication of the accounts and his departure per se, more just musing out loud really

[Sam Morshead]

Wonder if this is why he was shovelled out the door somewhat unceremoniously this week? Shortfall in the projected targets maybe?

Don't think so. That would only have given him three months to hit those goals as accounts only go to May 31. Running costs down since then.

[tans]

Power on a Power trip?

[Reg Smeeton]

Wonder if this is why he was shovelled out the door somewhat unceremoniously this week? Shortfall in the projected targets maybe?

So...Murrall goes, worst result ever in the FA Cup, Ranger goes awol....and a set of accounts calling into question the continued viability of the club....time for the panic button....nah just another week 

[jayohaitchenn]

this amounted to a staggering £4,050,000 to sustain the club in Black’s final six months.

FUCK ME!

[4D]

The going concern doesn't sound good but as others have said we need Pieman's feedback before we can be sure.

It's not a concern in the context that you take it.