Accounts for the year to 20 July 2023 published

[sufc4life21]

How do you know he sat back? Show me proof he sat back and did nothing, and explain what he should have done differently. If you can't then you're being unfair.

I'm not ITK so don't have the information what goes on inside Southend united. Given the last 5 years have been disaster on and off the pitch I'm allowed to voice my opinion on certain individual who were apart of the club in that tenure.

 

[londonblue]

I'm not ITK so don't have the information what goes on inside Southend united. Given the last 5 years have been disaster on and off the pitch I'm allowed to voice my opinion on certain individual who were apart of the club in that tenure.

So you have no idea then? If I were you I'd refrain from making disparaging statements about individuals if you have no idea. It's not a good look.

 

[sufc4life21]

So you have no idea then? If I were you I'd refrain from making disparaging statements about individuals if you have no idea. It's not a good look.

No. I'm entitled to my opinion as a fan who watched my club been run into the ground in the last 5 years with not much hope for better future. If it comes across as unfair then so be it.

 

[Sunnyshrimper]

Perhaps we take this from the other angle. Londonblue can you share what the directors - - Gary Lockett, David Markscheffel & Frank Van Wezel have done in support of Southend United, aside from propping up Ron Martin with loans? You don’t feel given the past 5 years they are open to criticism, albeit lesser than Ron Martin?

 

[londonblue]

No. I'm entitled to my opinion as a fan who watched my club been run into the ground in the last 5 years with not much hope for better future. If it comes across as unfair then so be it.

An opinion should be based on fact and not be baseless. It's really not a good look.

 

[sufc4life21]

An opinion should be based on fact and not be baseless. It's really not a good look.

What's not good look is being director of football club who has history of late/non payments to players/staff and involved in countless of winding up orders.

 

[londonblue]

What's not good look is being director of football club who has history of late/non payments to players/staff and involved in countless of winding up orders.

Still not a good look, but clearly you're the kind of person that has to have the last day, so go ahead. I've made my point.

 

[Yer Blues]

How do you know he sat back? Show me proof he sat back and did nothing, and explain what he should have done differently. If you can't then you're being unfair.

So you have no idea then? If I were you I'd refrain from making disparaging statements about individuals if you have no idea. It's not a good look.

An opinion should be based on fact and not be baseless. It's really not a good look.

Still not a good look, but clearly you're the kind of person that has to have the last day, so go ahead. I've made my point.

Alright Gary. Calm down love.

 

[londonblue]

Alright Gary. Calm down love.

Not Gary. Just somebody who understands how Ron operates and how share ownership works.

 

[LBBlue]

Cut staff numbers by around 20%, yet wage bill barely moved

View attachment 32379

Depends on whether it’s a head count or FTE. It still bonkers though as the salaries and wages costs are only £11k short of turnover. Doesn’t leave a lot to pay suppliers"……

 

[Tommy2holes]

If the club did make 337k on food and drink and it's currently an awful selection of beers and very poor food, then surely that can easily be doubled or trebled.

 

[LBBlue]

Mr Lockett of the consortium charging the club around 16% interest on his loans

View attachment 32383

There’s something not quite right here. In the 21/22 accounts Gary Lockett is said to be owed £155k and £37k - yet the comparative figures for 21/22 in the 22/23 accounts are completely different jumping from £192k to £1030k. I can’t see in the balance sheet where £1.1m is owing to Gary Lockett.

Also in the bit on related party disclosures it says Martin Dawn still owns 50% of SEL - yet their shares were transferred to Mezcal in March 23.

Oh and every year there’s a bit about reappointing Auditors at the forthcoming AGM.

This year there’s a bit that says SEL accounts can be obtained from Roots Hall. A fat lot of good they would as they only go to Jan 2020!

Can’t believe the auditors have allowed all this.

 

[Sammy Shrimper]

There’s something not quite right here. In the 21/22 accounts Gary Lockett is said to be owed £155k and £37k - yet the comparative figures for 21/22 in the 22/23 accounts are completely different jumping from £192k to £1030k. I can’t see in the balance sheet where £1.1m is owing to Gary Lockett.

Also in the bit on related party disclosures it says Martin Dawn still owns 50% of SEL - yet their shares were transferred to Mezcal in March 23.

Oh and every year there’s a bit about reappointing Auditors at the forthcoming AGM.

This year there’s a bit that says SEL accounts can be obtained from Roots Hall. A fat lot of good they would as they only go to Jan 2020!

Can’t believe the auditors have allowed all this.

Yes I noticed the difference in Gary Lockett’s loans, ( see my earlier post about an extra £700k loaned to the club before interest) but the auditors have clearly not referred to the same 2022 amount of £192k.

Regrettably it seems the same auditors will be used sgain.

 

[LBBlue]

Yes I noticed the difference in Gary Lockett’s loans, ( see my earlier post about an extra £700k loaned to the club before interest) but the auditors have clearly not referred to the same 2022 amount of £192k.

Regrettably it seems the same auditors will be used sgain.

Auditor’s remuneration jumped from £24,000 to £59,700. Perhaps they did a proper job this year. Tom Lawrence used them at Gillingham.

 

[Supa Shrimpa]

Auditor’s remuneration jumped from £24,000 to £59,700. Perhaps they did a proper job this year. Tom Lawrence used them at Gillingham.

Probably upped it, because they're highly unlikely to receive the vast majority of it ?

 

[Gremlin]

If the club did make 337k on food and drink and it's currently an awful selection of beers and very poor food, then surely that can easily be doubled or trebled.

Depends how much of the £337k relates to hospitality in the main stand, I suppose. There must be room for improvement on the bit that doesn't.

 

[LBBlue]

Depends how much of the £337k relates to hospitality in the main stand, I suppose. There must be room for improvement on the bit that doesn't.

The £337k will be the total income from sales after VAT has been taken off. I guess it’s hospitality and the other bar and food outlets and is roughly £15k per match.

 

[LBBlue]

Probably upped it, because they're highly unlikely to receive the vast majority of it ?

Possibly aware of the Due Diligence being carried out and thought they should put more time into it to avoid missing something.

 

[LBBlue]

Yes I noticed the difference in Gary Lockett’s loans, ( see my earlier post about an extra £700k loaned to the club before interest) but the auditors have clearly not referred to the same 2022 amount of £192k.

Regrettably it seems the same auditors will be used sgain.

Up until 2016 there was a separate line in the creditor analysis for Loans from Directors which always tied in with the related parties note.

Then these loans were subsumed into Other Creditors and I guess have been there ever since.

So for the last 4 sets of accounts Other Creditors have been, £421k, £526k, £937k and £798k and other loans have been £123k, £92k, £381k and £368k.

My guess is that the interest that is being rolled up, £274k in the last 2 years is being shown separately as part of Other Accruals and Deferred Income, as the total sums owed to Directors in the note is far greater than the total of Other Loans and Other Creditors.

Some or all of the extra loan must have been put in in 21/22 but the related parties note must have been incorrect. The note has also changed from capital element of loan to capital and interest.

Not that easy to follow to say the least. I presume Gary Lockett will know how much the club owes him!

 

[Sammy Shrimper]

Up until 2016 there was a separate line in the creditor analysis for Loans from Directors which always tied in with the related parties note.

Then these loans were subsumed into Other Creditors and I guess have been there ever since.

So for the last 4 sets of accounts Other Creditors have been, £421k, £526k, £937k and £798k and other loans have been £123k, £92k, £381k and £368k.

My guess is that the interest that is being rolled up, £274k in the last 2 years is being shown separately as part of Other Accruals and Deferred Income, as the total sums owed to Directors in the note is far greater than the total of Other Loans and Other Creditors.

Some or all of the extra loan must have been put in in 21/22 but the related parties note must have been incorrect. The note has also changed from capital element of loan to capital and interest.

Not that easy to follow to say the least. I presume Gary Lockett will know how much the club owes him!

Thanks for the explanation. I too hope Gary knows how much he has lent the club! The accounts are never straightforward.