| Losses Reduced on 10:15 - Mar 12 with 2937 views | ranger08 |
| Losses Reduced on 09:28 - Mar 12 by JonDoeman |
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I've had a good look through these, I am an accountant AND more importantly a QPR supporter…
Heres my views:
1) Its a sea of red… still losing a shed load of money
2) As widely mentioned, The owners have taken the £60m write-off and added it to their profits for the year, therefore actual trading loss QPR made increased from £65,3m to £69.7m. Had the loan NOT been written off borrowing would have increased to £201.4m
3) Mittal isn't into QPR as much as you think. £60m debt written of was £6.6m for Sea Dreams Ltd (Mittal) & £53.4 to Tune Group (Fernandes & Co). Although £6.6m is a LOT of money, for Mittal it's nothing (Worth BILLIONS).
4) AND the most interesting reveal is QPR loans a company called "Rangers Developments Ltd" £4m… this company is owned by Fernandes and CO… NOT QPR!! The company was created in June 2013 and its principle business is listed as "Management of real estate on a fee or contract basis"… This is
Either way you look at it, club STILL made a loss of £69.7m which ever way you look at it… only difference is now QPR owe £60m less to their shareholders.
Cannot see how FFP will stand for this... |  | |  |
| Losses Reduced on 10:16 - Mar 12 with 2937 views | ElHoop |
Well we did lose £65m on normal trading - excluding loan write off of £60m and player transactions (player deals lost £4m)
No mention whatsoever of FFP that I could see. |  | | |
| Losses Reduced on 10:22 - Mar 12 with 2906 views | Northernr |
| Losses Reduced on 10:16 - Mar 12 by ElHoop |
Well we did lose £65m on normal trading - excluding loan write off of £60m and player transactions (player deals lost £4m)
No mention whatsoever of FFP that I could see. |
They did call Tom Carroll Ton though, and they can't spell Benayoun properly. Fills you with confidence  |  | | |
| Losses Reduced on 10:26 - Mar 12 with 2886 views | EastR |
| Losses Reduced on 10:15 - Mar 12 by ranger08 |
I've had a good look through these, I am an accountant AND more importantly a QPR supporter…
Heres my views:
1) Its a sea of red… still losing a shed load of money
2) As widely mentioned, The owners have taken the £60m write-off and added it to their profits for the year, therefore actual trading loss QPR made increased from £65,3m to £69.7m. Had the loan NOT been written off borrowing would have increased to £201.4m
3) Mittal isn't into QPR as much as you think. £60m debt written of was £6.6m for Sea Dreams Ltd (Mittal) & £53.4 to Tune Group (Fernandes & Co). Although £6.6m is a LOT of money, for Mittal it's nothing (Worth BILLIONS).
4) AND the most interesting reveal is QPR loans a company called "Rangers Developments Ltd" £4m… this company is owned by Fernandes and CO… NOT QPR!! The company was created in June 2013 and its principle business is listed as "Management of real estate on a fee or contract basis"… This is
Either way you look at it, club STILL made a loss of £69.7m which ever way you look at it… only difference is now QPR owe £60m less to their shareholders.
Cannot see how FFP will stand for this... |
The £60m write off was :
In addition during the year £60m (2013: £NiI) of shareholder loans have been waived of which £26.6m has been waived by Sea Dream Limited with the balance being waived by Tune QPR Sdn Bhd.. | |
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| Losses Reduced on 10:31 - Mar 12 with 2870 views | Northernr |
Sea Dream is Bhatia isn't it? | | | |
| Losses Reduced on 10:32 - Mar 12 with 2869 views | ElHoop |
| Losses Reduced on 10:22 - Mar 12 by Northernr |
They did call Tom Carroll Ton though, and they can't spell Benayoun properly. Fills you with confidence |
Yeah it's a little bit sloppy looking from a pedant's perspective.
Also, the operating loss on the 'P & L account' on page 8 is £65m whereas on page 3 the business review says that the group operating losses were £9.8m. | | | |
| Losses Reduced on 10:39 - Mar 12 with 2848 views | ElHoop |
| Losses Reduced on 10:15 - Mar 12 by ranger08 |
I've had a good look through these, I am an accountant AND more importantly a QPR supporter…
Heres my views:
1) Its a sea of red… still losing a shed load of money
2) As widely mentioned, The owners have taken the £60m write-off and added it to their profits for the year, therefore actual trading loss QPR made increased from £65,3m to £69.7m. Had the loan NOT been written off borrowing would have increased to £201.4m
3) Mittal isn't into QPR as much as you think. £60m debt written of was £6.6m for Sea Dreams Ltd (Mittal) & £53.4 to Tune Group (Fernandes & Co). Although £6.6m is a LOT of money, for Mittal it's nothing (Worth BILLIONS).
4) AND the most interesting reveal is QPR loans a company called "Rangers Developments Ltd" £4m… this company is owned by Fernandes and CO… NOT QPR!! The company was created in June 2013 and its principle business is listed as "Management of real estate on a fee or contract basis"… This is
Either way you look at it, club STILL made a loss of £69.7m which ever way you look at it… only difference is now QPR owe £60m less to their shareholders.
Cannot see how FFP will stand for this... |
Rangers Developments doesn't appear to involve Mittal. | | | |
| Losses Reduced on 10:49 - Mar 12 with 2811 views | danehoop |
Isn't that the vehicle for Old Oak Common and possibly Warren Farm if it ever happens?
If it was that would be written off under FFP as investment expenditure I thought. |  |
| Never knowingly understood |
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| Losses Reduced on 11:05 - Mar 12 with 2781 views | ranger08 |
| Losses Reduced on 10:49 - Mar 12 by danehoop |
Isn't that the vehicle for Old Oak Common and possibly Warren Farm if it ever happens?
If it was that would be written off under FFP as investment expenditure I thought. |
Exactly my point… It's owned by Fernandes and CO… NOT QPR.
So if we get a new stadium who will own it… doesn't look like its the club to me. | | | |
| Losses Reduced on 11:20 - Mar 12 with 2742 views | EastR |
| Losses Reduced on 10:31 - Mar 12 by Northernr |
Sea Dream is Bhatia isn't it? |
Yes, Sea Dream Limited is Bhatia - registered offshore in Jersey.
Some more information on Rangers Developments Limited:
Registered Address
Loftus Road Stadium
South Africa Road
London
W12 7PJ
United Kingdom
Trading Address
Loftus Road Stadium
South Africa Road
London
W12 7PJ
Description
Rangers Developments Ltd was set up on 14 Jun 2013 and has its registered office in London. Its current status is listed as "Active" and it currently has 3 directors. It was founded by Kamarudin Bin Meranun, Ruben Emir Gnanalingham Bin Abdullah, Mr Anthony Francis Fernandes. Rangers Developments Ltd has no subsidiaries.
Hence with the 3 common directors it's described in the accounts as 'an entity under common control'. | |
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| Losses Reduced on 11:38 - Mar 12 with 2684 views | ranger08 |
| Losses Reduced on 11:20 - Mar 12 by EastR |
Yes, Sea Dream Limited is Bhatia - registered offshore in Jersey.
Some more information on Rangers Developments Limited:
Registered Address
Loftus Road Stadium
South Africa Road
London
W12 7PJ
United Kingdom
Trading Address
Loftus Road Stadium
South Africa Road
London
W12 7PJ
Description
Rangers Developments Ltd was set up on 14 Jun 2013 and has its registered office in London. Its current status is listed as "Active" and it currently has 3 directors. It was founded by Kamarudin Bin Meranun, Ruben Emir Gnanalingham Bin Abdullah, Mr Anthony Francis Fernandes. Rangers Developments Ltd has no subsidiaries.
Hence with the 3 common directors it's described in the accounts as 'an entity under common control'. |
So although related to QPR (Owners/Addresses) its a totally separate company owned by Fernandes & CO… | | | |
| Losses Reduced on 12:04 - Mar 12 with 2624 views | ShotKneesHoop |
I still have 10,000 Loftus Road shares that I burnt £1,500 on a long time ago, when Gerry Francis was on his second spel with the R's.
Can anyone tell me what they are worth? I've tried the stockbroker that I bought them off and gI et no answers. I suppose they are valued at Porthcawl.
Presume that means they are only worth putting them on SWP getting a new contract next year. |  |
| Why does it feel like R'SWiPe is still on the books? Yer Couldn't Make It Up.Well Done Me! |
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| Losses Reduced on 12:18 - Mar 12 with 2582 views | EastR |
| Losses Reduced on 12:04 - Mar 12 by ShotKneesHoop |
I still have 10,000 Loftus Road shares that I burnt £1,500 on a long time ago, when Gerry Francis was on his second spel with the R's.
Can anyone tell me what they are worth? I've tried the stockbroker that I bought them off and gI et no answers. I suppose they are valued at Porthcawl.
Presume that means they are only worth putting them on SWP getting a new contract next year. |
Congratulations ShotKnees
You own 10,000 of the 3.6 billion shares issued by the company. Each one is worth £0.01.
Yours £100. | |
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| Losses Reduced on 12:26 - Mar 12 with 2553 views | ranger08 |
| Losses Reduced on 12:18 - Mar 12 by EastR |
Congratulations ShotKnees
You own 10,000 of the 3.6 billion shares issued by the company. Each one is worth £0.01.
Yours £100. |
LOOOOOOOOOOL | | | |
| Losses Reduced on 12:46 - Mar 12 with 2492 views | ActonOccident |
Fcuk me, the wage bill dropped a measly 2 million quid, from 68m to 66m??? |  | | |
| Losses Reduced on 13:04 - Mar 12 with 2441 views | Jamie |
| Losses Reduced on 11:05 - Mar 12 by ranger08 |
Exactly my point… It's owned by Fernandes and CO… NOT QPR.
So if we get a new stadium who will own it… doesn't look like its the club to me. |
Can of worms. | | | |
| Losses Reduced on 13:18 - Mar 12 with 2400 views | TheBlob |
| Losses Reduced on 12:04 - Mar 12 by ShotKneesHoop |
I still have 10,000 Loftus Road shares that I burnt £1,500 on a long time ago, when Gerry Francis was on his second spel with the R's.
Can anyone tell me what they are worth? I've tried the stockbroker that I bought them off and gI et no answers. I suppose they are valued at Porthcawl.
Presume that means they are only worth putting them on SWP getting a new contract next year. |
They're worth fukkall.
I wiped my arse with ten grand of certificates ages ago. |  |
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| Losses Reduced on 13:23 - Mar 12 with 2380 views | CroydonCaptJack |
| Losses Reduced on 11:05 - Mar 12 by ranger08 |
Exactly my point… It's owned by Fernandes and CO… NOT QPR.
So if we get a new stadium who will own it… doesn't look like its the club to me. |
I am not sure how helpful it is to set that Hare running mate.
The situation will become clearer I am sure. |  | | |
| Losses Reduced on 13:36 - Mar 12 with 2337 views | W5R |
| Losses Reduced on 13:23 - Mar 12 by CroydonCaptJack |
I am not sure how helpful it is to set that Hare running mate.
The situation will become clearer I am sure. |
In Uncle Bungle we trust! |  | | |
| Losses Reduced on 13:50 - Mar 12 with 2311 views | ranger08 |
| Losses Reduced on 13:23 - Mar 12 by CroydonCaptJack |
I am not sure how helpful it is to set that Hare running mate.
The situation will become clearer I am sure. |
Fair point, just didn't read right IMO | | | |
| Losses Reduced on 13:57 - Mar 12 with 2288 views | CroydonCaptJack |
| Losses Reduced on 13:50 - Mar 12 by ranger08 |
Fair point, just didn't read right IMO |
There may be something in it but others imaginations might run wild mate!! | | | |
| Losses Reduced on 15:39 - Mar 12 with 2166 views | Northernr |
| Losses Reduced on 12:46 - Mar 12 by ActonOccident |
Fcuk me, the wage bill dropped a measly 2 million quid, from 68m to 66m??? |
nah can't be right, we were told repeatedly by Redknapp and his supporters that he had to fairly well hack into the wage bill last season whenever we were accused of under performing. | | | |
| Losses Reduced on 15:47 - Mar 12 with 2150 views | CroydonCaptJack |
| Losses Reduced on 13:36 - Mar 12 by W5R |
In Uncle Bungle we trust! |
I see you set the Hare running on WATRM. | | | |
| Losses Reduced on 15:52 - Mar 12 with 3053 views | ElHoop |
| Losses Reduced on 13:04 - Mar 12 by Jamie |
Can of worms. |
If they were up to something devious then why in god's name would they feed the money through QPR? And why call it Rangers Developments? | | | |
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