Yeah they were gone through by a few people and discussed in the main takeover thread in chit chat. Debt a bit lower than expected, a £1.1 profit on player transfers in one of the years and Roots Hall rent down to nil plus management fees down to nil. Those were the highlights from what I remember.Ye20 & ye21 released. Has anyone been through them yet?
Unfortunately there didn't appear to be any on sale when we bowled up about 30 mins .before the start of our last home game with Wealdstone.Unfortunately no. They rent out the catering units. Buying a football Program would help.
Could the dome have been bought on some kind of lease finance arrangement or does leasehold property mean bricks and mortar ?A large part of the loss is down to 'Loss on disposal of fixed assets' of £835K. We disposed of £835K worth of Long Leasehold property for no money.
Any ideas what this could have been?
Turnover in 2021 season was down 592k
170 drop in Prem League Support 900k drop in player trading
80k increase in tickets 300k increase in food (2021 covid figures)
Loss of 2.7M for the year From 1M prev season)
Operating Loss 481K From 321k
Admin expense 2.1M From 863K
Other Income 9K From 262k
Interest 159K From 82K
What is the 1.2M extra admin ?
835 reduction in assets as above Post
75k drop in intangible assets
70K drop in current assets
And there is The annual 470K expense to Group company again ,
Interesting - how does that get picked up by the 'authorities'? Who even are the authorities on accounting accuracy?
Interesting - how does that get picked up by the 'authorities'? Who even are the authorities on accounting accuracy?
The implication of that statement being inaccurate is that the Club would be trading whilst insolvent. The Directors of a company can not allow it to trade whilst insolvent, the risks being that they could be liable for company debts etc, and would have to put the company into Administration or Liquidation. This has never been in Ron’s interest hence he has always said that SEL would continue to fund the club.
The External Auditors sign off the accounts on that basis. Otherwise I presume they would qualify the accounts flagging the company is insolvent.
Yeah - in previous years that would be an acceptable statement. But this year it is fact that the parent company has stopped funding the club - so the statement is clearly false - isn't it?
I know these are 2022 accounts - but they need to take into account material post accounting date events as well don't they?
Maybe post takeover - someone could give the accounts police a little nudge - I can see it's not in fans interest to highlight it too much at the momentPoint taken - but Ron got a load of cash into the club in 23/24. We also don’t know how the consortium get their cash into the club and what basis it will appear in the accounts. Ron could still have course convinced the auditors he would still as a very last resort stop the club from going under. The alternative is still insolvency if not a going concern