| Company Accounts 08:42 - May 6 with 2939 views | Vetchfielder |
The latest company accounts are now available on the Companies House website.
I'll leave it for the accountants on here to comment on the detail but the things I did pick up was confirmation of no dividends, a large increase in football staff numbers and the lack of detail regarding "Transactions with Directors". The previous accounts used to have some good detail about payments to directors companies but this is now presented in a different format and you can't tell who's had what anymore - maybe this is due to the new accounting policy adopted or maybe they don't want to volunteer that information anymore? |  |
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| Company Accounts on 10:32 - May 6 with 2810 views | Shaky |
Good spot, I didn't expect them until next week.
Quick highlights:
* Net loss of £13.1m, operating loss before results of player sales £20.4m
* . . .Leaving shareholders' funds at an ultra slender £7.6m
* Headline cash-flow nevertheless much better then I expected, due to quite a few factors:
Receipts:
- Presumed receipt of big staged payments for past player sales
- Unpaid Taxes and PAYE had increased by almost £9m= not paying their bills
- Ultra mysterious increase in accruals of nearly £+35m! Extrraordinary, and requires further thought and analysis.
Outflows
- All ST bank debt and other borrowings repaid! (£+23m!)
Lisa will again argue that the ultra thin equity cushion was not a problem due to things like the market valuation of players in excess to their balance sheet values.
However, from this I can tell she has no experience whatsoever dealing with bank lenders who don't give a monkey's about hidden reserves. That's an argument for equity punters, Lisa, and presumably the reason why the non-operating bank debt was repaid in full ;-) [Post edited 6 May 2017 13:31]
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| Company Accounts on 11:24 - May 6 with 2710 views | Shaky |
| Company Accounts on 10:32 - May 6 by Shaky |
Good spot, I didn't expect them until next week.
Quick highlights:
* Net loss of £13.1m, operating loss before results of player sales £20.4m
* . . .Leaving shareholders' funds at an ultra slender £7.6m
* Headline cash-flow nevertheless much better then I expected, due to quite a few factors:
Receipts:
- Presumed receipt of big staged payments for past player sales
- Unpaid Taxes and PAYE had increased by almost £9m= not paying their bills
- Ultra mysterious increase in accruals of nearly £+35m! Extrraordinary, and requires further thought and analysis.
Outflows
- All ST bank debt and other borrowings repaid! (£+23m!)
Lisa will again argue that the ultra thin equity cushion was not a problem due to things like the market valuation of players in excess to their balance sheet values.
However, from this I can tell she has no experience whatsoever dealing with bank lenders who don't give a monkey's about hidden reserves. That's an argument for equity punters, Lisa, and presumably the reason why the non-operating bank debt was repaid in full ;-) [Post edited 6 May 2017 13:31]
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Well I've thouight about that massive increase in accruals and deferred income a bit more, and the only legit explanation is that it represents receipt of TV money in respect of the next (now this) season.
But the accounting dates were the same in the prior year, so unless the official payment date had changed the only explanation is that the club asked for an got a sub! [Post edited 6 May 2017 11:25]
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| Company Accounts on 11:26 - May 6 with 2702 views | WarwickHunt |
| Company Accounts on 11:24 - May 6 by Shaky |
Well I've thouight about that massive increase in accruals and deferred income a bit more, and the only legit explanation is that it represents receipt of TV money in respect of the next (now this) season.
But the accounting dates were the same in the prior year, so unless the official payment date had changed the only explanation is that the club asked for an got a sub! [Post edited 6 May 2017 11:25]
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Let's hope he can play right back. |  | | |
| Company Accounts on 13:21 - May 6 with 2602 views | Whiterockin |
| Company Accounts on 11:24 - May 6 by Shaky |
Well I've thouight about that massive increase in accruals and deferred income a bit more, and the only legit explanation is that it represents receipt of TV money in respect of the next (now this) season.
But the accounting dates were the same in the prior year, so unless the official payment date had changed the only explanation is that the club asked for an got a sub! [Post edited 6 May 2017 11:25]
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Is the sub the got the one we paid £15M for. |  | | |
| Company Accounts on 20:26 - May 6 with 2417 views | waynekerr55 |
Confirmation (not that it was needed) that a failed roofer should not be a DoF. |  |
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