Accounts for the y/ended 31st July 2006

[Its Only A Game]

Any idea why we would owe this amount to directors?

because we had borrowed it from them?

 

[class]

because we had borrowed it from them?

Exactly, its money they put into SUFC.

 

[OiRef]

Should we have done a 'Leeds', reducing the tax bill to almost nowt. After all a 'cute' club like ours surely deserves to be on a level playing field ;-)

 

[Firestorm]

Profit primarily down to the release of Parent company loan of 1.5M
Admin expenses Up neraly 400k
Loss of 125 k in player trading

Creditors up by 2.5M !! (which would be the tax and the parent company loan) parent company now owed 3.56M

Gate receipts were down by 225K (I can only assume due to the lack of milstad attendences in 2006) but season ticket receipts were up 180K
Club shop made 100k (down from 294 k (Milstad again ?)

Even market rentals were down 30%
Wages Up nearly 700k but playing staff was up 8 from 44 to 52
Overall staff costs (Wages incl soc security pensions etc) up 800K

Interesting bit in Debtors
During 1987 the company entered into a Joint venture agreement to build a block of flats on land owned by the company .....etc etc..

So Plans for moving have been around for 20 years !!

Mezcal Investments are the other 50% of SEL (must have been the delancey buy out) SUFC owe Mezcal 1M (more on mezcal in a minute)

Basically we overspent but SEL waived 1.5M loan payments.

 

[Firestorm]

Mezcal investments Ltd are not listed in companies house and do not appear in a google search. Who has lent us 1M quid ??

 

[Its Only A Game]

it could be an offshore company.

channel islands/isle of man etc

 

[Its Only A Game]

it could be an offshore company.

channel islands/isle of man etc

i wasn't far off. its the british virgin islands!

 

[Firestorm]

Any other info ?

 

[Mick]

i wasn't far off. its the british virgin islands!

Not far at all. Just the odd 4,000 miles.

 

[Cricko2]

i wasn't far off. its the british virgin islands!

Well done "Sherlock"....I have had a bit of a hunt around the Net but can't find anything more about them.

 

[Yorkshire Blue]

Not surprised its a BVI company, slightly surprised its called Mezcal, which if I remember correctly is a sort of tequilia type drink!

I'd be interested to know who was behind this BVI company. For all the talk about how Ron was waiting to buy out Delancey, when it happened it all happened very quietly and we don't know who stumped up the cash.

 

[class]

To get more information on Mezcal, ie Directors, involvement etc you would probably need to get a copy of SEL's latest accounts.

 

[Mick]

Any other info ?

Mezcal Fact of the Day:

In the shadow of the Sierra Madre mountains of southern Mexico, small boys come to the Scorpion mezcal distillery in Oaxaca with jars of live scorpions they have hunted in the barren hills of the valley. The distillery puts a scorpion in every bottle of mezcal an 80-proof spirit produced from agave, a spiky-leaved succulent plant (not a cactus, as tradition had it) that thrives in the harshest conditions. Mezcal is an integral part of Oaxacan culture, and has been produced there for hundreds of years, although it only gained denomination of origin status in February last year. Tequila – its better- known rival – is a type of mezcal from the Mexican state of Jalisco that is now largely manufactured in bulk using factory techniques. Tequila can be produced only from blue agave, but more than 15 varieties are allowed in mezcal. The acknowledged “king of mezcal” is made from the prized tobala plant, which grows mainly in the wild. The espadin variety is the most widely cultivated in Oaxaca, taking 7-10 years to mature.

Hope there's not a sting in the tail of our financial dealings.

 

[Kent Shrimper]

 

[Cricko2]

Erm Andy:confused:

 

[Kent Shrimper]

Erm Andy:confused:

yeah slight mechanical fault, sorted now.