It’s in a link right near the bottom of the statement.
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Thanks, I mistakenly followed the link to the financial statements. Much appreciated.
Ok, only a quick skim through the accounts so far, but can anyone shed any light on what the “Other Creditors” in Creditors Due Within One Year might be? They’ve fallen from £948k to £635k and substantially explains the reason why I couldn’'t understand how we could make a profit but net debt significantly increase.
Hard to tell, but looks like we had a loan, or part of a loan that required to be paid back (to the tune of ~£310k), and to compensate we’ve taken extra finance elsewhere such as the increase in Bank loans (note 18) from £21k to £387k.
I think, but might be wrong, “other creditors” is usually used (by us) to indicate loans/credit to the club from directors.
7 years left until the break clause in the lease.
Why is it that LP, or anyone at the club, wont even acknowledge that this represents an opportunity? It seems to be brushed aside and ignored.
- What is the break clause for, if not for giving the club a way out of an unsustainable and undesirable lease?
- Why does Leigh think anyone will invest in the club and not want to look at options such as moving the club to another stadium?
Seems to me there is no desire to even talk about this break clause, yet to me it’s the big red door-handle on the escape hatch for the club.
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Directors’ loans ought to be in Creditors Due After More Than One Year because they ought to have given us a commitment not to withdraw funds within the next 12 months…but you could be right.
As asked above, where in the accounts is the income from Ade, DC, Jules etc.
Debtors? A figure which decreased from 2020?
The whole picture is one of an organisation limping along, propped up by loans, but just doing enough on the life-support bed to keep the blood warm and flowing for the bloated parasite.
As usual, it’s impossible to say. But I suspect we account for the income when received and, if payment is by instalments , that may mean that some of that income will be in the 21-22 accounts. I believe that transfer payment by instalments is all the rage these days.
Edit: I haven’t yet looked at the accounting policies to see if they mention this.
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Income recognition is in the accounting policy note but this will include turnover within the P&L.
Money introduced by directors will be on the balance sheet via loans.
We use Klarna for this LOL
Don’t our various supplies also get counted as debtors as (like most businesses) we don’t pay cash on the nail? Pretty sure I’ve read about us owing Banks’s before now. We won’t have racked up a bigger bill for supplies while fans (and conferences etc) weren’t allowed in the ground, so we may have caught up a bit with the tabs?
What I dont understand about the accounts is that the Revenue recognition note states that turnover specifically excludes player transfer fees. If thats the case where do the transfer fees appear if the accounts?
If you take a Club like Forest Green Rovers whose accounts are quite understandable they also dont disclose income from player transfers in Turnover but instead they are disclosed as a deduction from administration expenses and included in the operating profit note ( in our case note 5 to the accounts)
Perhaps that it why the other operating charges have fallen to £1.465m from the previous years £2.145m and thats where the Rico Henry money has been accounted for. If that the case you would have thought the transfer income figure would have been material enough on its own for separate diclosure and perhaps the auditors should insist on it.
I might be wrong though!!
Perhaps some shareholder should ask the question?
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Sack the board
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I wish they would, the club has had an extra ordinary injection of cash of over £2m in the last 12 months, add in £500k in covid grant and something does not ‘add up’ looking at those accounts.
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How can we OWE so much money then??
The directors paid themselves £199,000, up from previous year - must be all that hard work.
According to Pomlett, not a penny has been taken out of the club by the directors - ‘we’re all in it together apart from us directors’.
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Good post Semaj, will help fans understand what’s really happening behind the scenes.
I still don’t understand where the transfer fees received appear, does anyone?
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