| Audited Accounts Due Tomorrow!! 20:27 - Feb 27 with 17887 views | NDGN82 |
Not sure if they’ve been late before or if there are penalties from the EFL for late submission but either way it wouldn’t look good if they were late. Here’s hoping the club have it in hand |  | | |  |
| Audited Accounts Due Tomorrow!! on 17:22 - Mar 10 with 2084 views | judd |
| Audited Accounts Due Tomorrow!! on 16:43 - Mar 10 by RAFCBLUE |
Hi Sandyman,
I'm taking my data from the publicly available filings on the club.
https://beta.companieshouse.gov.uk/company/00111019/filing-history
On 22nd June 2018, the club filed a Confirmation Statement which names 333 different shareholders and disclose their shareholdings.
Shareholding 183 is Andrew Kilpatrick for 110,000 shares.
On 7th March 2019, Companies House shows accounts that were at 31 May 2018, 22 days before the confirmation statement.
Those accounts show that there are 244,029 ordinary shares in Note 19 (Page 27)
In percentage terms, that's my 45% that Andrew Kilpatrick holds - 45.07% being 110,000 of 244,029.
I'm not sure how you get to 23% unless the disclosure of Shareholder 183 is actually him and his wife - which would divide 45% by 2 - 22.5% each.
In that case though, the disclosure is wrong. There appear to be plenty of husband/wife combinations on that confirmation statement.
To get to the value of the club:
Shareholders funds is £2,573,402 (Page 11 of the PDF)
Number of shares is 244,029
Value per share is £10.55 (being £2,573,402 divided by 244,029 shares)
That valuation is at 31st May 2018 and things have moved since but the accounts don't include a valuation for Danny Adshead or the cost of exiting Keith Hill and Chris Beech as well as the trading performance for this season to date.
Hope that makes sense. I'm not sure there is a ready market for buying your shares off you mind! |
So how does that percentage shareholding square with the statement at the forum? |  |
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| Audited Accounts Due Tomorrow!! on 19:18 - Mar 10 with 1938 views | DevonDale |
| Audited Accounts Due Tomorrow!! on 16:43 - Mar 10 by RAFCBLUE |
Hi Sandyman,
I'm taking my data from the publicly available filings on the club.
https://beta.companieshouse.gov.uk/company/00111019/filing-history
On 22nd June 2018, the club filed a Confirmation Statement which names 333 different shareholders and disclose their shareholdings.
Shareholding 183 is Andrew Kilpatrick for 110,000 shares.
On 7th March 2019, Companies House shows accounts that were at 31 May 2018, 22 days before the confirmation statement.
Those accounts show that there are 244,029 ordinary shares in Note 19 (Page 27)
In percentage terms, that's my 45% that Andrew Kilpatrick holds - 45.07% being 110,000 of 244,029.
I'm not sure how you get to 23% unless the disclosure of Shareholder 183 is actually him and his wife - which would divide 45% by 2 - 22.5% each.
In that case though, the disclosure is wrong. There appear to be plenty of husband/wife combinations on that confirmation statement.
To get to the value of the club:
Shareholders funds is £2,573,402 (Page 11 of the PDF)
Number of shares is 244,029
Value per share is £10.55 (being £2,573,402 divided by 244,029 shares)
That valuation is at 31st May 2018 and things have moved since but the accounts don't include a valuation for Danny Adshead or the cost of exiting Keith Hill and Chris Beech as well as the trading performance for this season to date.
Hope that makes sense. I'm not sure there is a ready market for buying your shares off you mind! |
Your maths are wrong re the shares. The shares are in fact 50p nominal value, so there are about 488,000 shares in issue, with Andrew Kilpatrick holding about 22.5% of the shares. | | | |
| Audited Accounts Due Tomorrow!! on 19:51 - Mar 10 with 1899 views | 49thseason |
| Audited Accounts Due Tomorrow!! on 10:06 - Mar 10 by RAFCBLUE |
I think the gate receipt point can get over promoted as to its importance.
Doubling the attendance from 3,000 to 6,000 would only put an extra £1.5m in the pot and the likelihood of achieving 3,000 extra per game is minimal.
We need about £5.5m of revenue each season to compete in League 1.
In 2017-18 our top three revenue streams that generated £5.5m came from being in League 1 (£1.5m), gate receipts (£1.0m), transfer fees (£0.5m) with a healthy chunk of broadcasting money (£0.5m) that came out of the FA Cup run.
In 2016-17 our top five revenue streams that generated £6.0m came from transfer fees (£2.1m), being in League 1 (£1.5m), gate receipts (£0.9m). There was a cup run but not as lucrative as Tottenham.
With more games to generate gate receipts revenue (including two vs Tottenham) in 2017-18 you could argue that the gate receipts on a like for like basis are down, mainly due to the cost of the season tickets being down.
What it does demonstrate is to generate £5.5m this season (2018-19), we will have £1.0m of gate receipts, £1.5m from being in League 1 and £3.0m to find!
There's no FA Cup run, no broadcast money and no tangible player sales known, notwithstanding what we may have received for Rafferty and McGahey in January.
You can see why we have developed our academy model the way that we have. Effectively it's the financial lifeblood of the club and you'd expect Adshead and Morley to sold on in the next five years.
Still - a very positive end financially to the May 2018 season. A club and associated businesses worth £2.5m of which £1.1m of that was in cash.
And - each current ordinary share worth just over £10 based on those numbers. Andrew Kilpatrick's 110,000 shares gives a 45% (ish) holding in the club.
Very lucky to have the directors we have had (past and present) ensuring there is always a Rochdale Football Club.
Not the most lucrative of pastimes but good to see hope that there will always be a club in the town. |
"Doubling the attendance from 3,000 to 6,000 would only put an extra £1.5m in the pot and the likelihood of achieving 3,000 extra per game is minimal."
Surely the point is that gate money is more reliable than cup runs or player sales? Not only would another 3000 regulars on the gate mean more immediate revenue (cash), it would also create more revenue in the bars and the shop.
It might "only" amount to £1.5m but if I were a Director I would be much happier knowing that most of that £1.5m would come through the door each season whereas a 93rd Minute penalty could put you out of the cup in the first round or a bad injury could put paid to a £2m player that the club had been banking on for money. |  | | |
| Audited Accounts Due Tomorrow!! on 20:01 - Mar 10 with 1880 views | RAFCBLUE |
| Audited Accounts Due Tomorrow!! on 19:18 - Mar 10 by DevonDale |
Your maths are wrong re the shares. The shares are in fact 50p nominal value, so there are about 488,000 shares in issue, with Andrew Kilpatrick holding about 22.5% of the shares. |
Hi DevonDale,
The maths are ok given the information that the current directors have put into the public domain re the filing of the 2018 accounts last week.
If you look at the history of the accounts as filed with Companies House:
2016 - 488,050 - 50p shares
2017 - not disclosed
2018 - 244,029 - 50p shares (Note 19).
If you're right about there being 488,050 shares - the filed accounts are incorrect on that Note 19 which states the number of shares.
That's not what the 2018 accounts currently say though.
They're audited accounts so supposedly checked! |  |
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| Audited Accounts Due Tomorrow!! on 20:12 - Mar 10 with 1854 views | RAFCBLUE |
| Audited Accounts Due Tomorrow!! on 19:51 - Mar 10 by 49thseason |
"Doubling the attendance from 3,000 to 6,000 would only put an extra £1.5m in the pot and the likelihood of achieving 3,000 extra per game is minimal."
Surely the point is that gate money is more reliable than cup runs or player sales? Not only would another 3000 regulars on the gate mean more immediate revenue (cash), it would also create more revenue in the bars and the shop.
It might "only" amount to £1.5m but if I were a Director I would be much happier knowing that most of that £1.5m would come through the door each season whereas a 93rd Minute penalty could put you out of the cup in the first round or a bad injury could put paid to a £2m player that the club had been banking on for money. |
Only if we could do that for 23 home games; which we can't.
Bar and catering income went down in 2018 vs 2017 in a financial year where aggregate attendance at Spotland and gate receipts actually went up!
The heavy discounting of season tickets can't last forever and Rochdale is a below average income town with multiple football clubs followed.
Good player development; strategic sales of assets and the joy of a decent cup run are the things that have got the financials to the current state of good health. | |
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