Audit 2020 Annual Report etc

With regard to the comments about the club apparently having an obsession with always posting a profit albeit only a very small one - I think of it in terms of this analogy:

You are in a job on minimum wage at best. You live within your means so do your big shop for just the basics in Lidl, drive an old banger, scrape to have a week’s holiday caravanning in Rhyl, etc. You just about keep your head above water and manage not to go into debt but you don’t have much left over at the end of the year. However, it’s not negative so it’s break-even or a small profit.

You get a better job paying decent money. If you carried on living exactly as you were before then you’d have quite a bit left over - but you don’t. Instead you vary your lifestyle to match your new income and now shop at Sainsbury’s and include a few treats in your shopping, drive a newer better car, take at least a couple of holidays abroad, etc. The result is you still spend up to what your income is so only have the same amount left over.

Same end result in terms of annual profit but vastly different stories of how you got there.

Using that point of view on the club … if our revenue allows it, would you rather we continue shopping at Lidl’s (or signing more Liddles :scream:) and post a bigger profit or go to Sainsbury’s and spend up to but not over all that we have on better quality? If we end a season with loads left over (e.g. the windfall from Rico) would you be happy we have unspent money in the bank gathering dust or be thinking we ought to have splashed it on improving the team/facilities/growing the club/paying off any remaining debts?

And before anyone else says it, having some savings put aside for a rainy day is a good idea, but do you really need to keep a nest egg growing exponentially once you’ve got it to an optimum amount? Keep the emergency fund inflation proofed but no need to to go overboard. The only reason to do otherwise is if you are saving up for something in particular and would rather wait until you have enough instead of borrowing it up front.

In short, the real issue is how is our revenue is doing year on year rather than the profit posted which doesn’t really tell us anything.

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I like shopping in Aldi, the food is good and there isn’t too much choice, who needs 17 different tins of baked beans or 96 different shampoos anyway? I also go to a farm shop every month or so.
I can afford to shop at Tesco or Asda, even Waitrose if I could be bothered to drive to one, but I’m happy with Aldi. If I got a pay rise I would still shop at Aldi.
Not sure what this says about me except that I often find it difficult not to wander off-topic on a thread.


Yes, if your landlord is the one who helped arrange your house move, then bought your house and made you pay him rent on it.

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Having had a look at our turnover over the last 10 years we have had 6 years where it increased from the previous year with an average increase of 8.8%. There have been 4 years where it decreased from the previous year with an average decrease of 10%. Effectively standing still in my view.

The turnover has fluctuated from a high of £6,681m in 2019 to a low of £4,759m in 2013.

In your analogy we are the person in a job who doesn’t turn up for work sometimes and pisses about therefore losing our employment for a period of time before finding other work. Sometimes we are motivated and may earn a bit extra through overtime, other times we just want to do the bare minimum which probably alienates our employer/manager. :smiley:

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I assume you meant K rather than M or else we’re doing a hell of a lot better than any of us thought! :grinning:

The thing about turnover is it doesn’t always give a true reflection of operating capital available. For example, if you buy a pint of beer in the Stadium Suite for £3 the club doesn’t then have the full £3 to spend on whatever - after taking out cost, taxes, etc, they end up with only a few pence per pint at best. It’s revenue in terms of net income that I should have specified. Not sure you can get that level of detail from the published accounts …

French numeric notation, I’m sure.

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I had factored in the Rico Henry bonanza :crazy_face:

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