Here Are The Accounts.

[TIL 1010 5,246]

https://www.canaries.co.uk/content/norwich-city-release-annual-report

[TIL 1010 5,246]

Can somebody pop over to Non Football and let those posters who are solving the crisis in the Middle East know ?

[The Real Buh 3,765]

Sounds to me that without player sales we are toast 

And Johnny Rowe apart, who else can we sell next year?

[The Real Buh 3,765]

Just now, TIL 1010 said:

Can somebody pop over to Non Football and let those posters who are solving the crisis in the Middle East know ?

The mutants on the off topic containment board 😂

[For the future 84]

What’s happened to the money they got for the players they sold?

[nutty nigel 7,902]

Did anyone guess 1.5m?

Happy to put up a Mars Bar for the closest forecast...

[Soldier on 290]

Not included in this set of accounts 

[Ulfotto 797]

11 minutes ago, The Real Buh said:

Sounds to me that without player sales we are toast 

And Johnny Rowe apart, who else can we sell next year?

Err when has this never been the case all the money is spent on the ridiculous wages demanded by players at championship level let alone premier league.

[nutty nigel 7,902]

Another whole year?

[Capt. Pants 5,001]

So our £27.2m loss is primarily caused by player purchases?

Happy with that, every fan should want that!

[The Real Buh 3,765]

11 minutes ago, Ulfotto said:

Err when has this never been the case all the money is spent on the ridiculous wages demanded by players at championship level let alone premier league.

I would have thought that was obvious. However, the amount of players we can transfer for a sizeable profit is reducing as will our ability to recoup losses with player sales. We have no real external financing.

The club shrinks.

[Feedthewolf 5,885]

"The club also sold the registrations of A Omobamidele, M Aarons, M Rashica and B Mumba subsequent to the year-end. The club is due receipts of £21,400,000 in respect of these transactions."

That seems a little low, doesn't it? Even if that's just the up-front payments not contingent upon add-on clauses, what are we looking at here? Say £1m Mumba, £4m Rashica, £6m Aarons and £10m Omobamidele?

[cambridgeshire canary 7,797]

34 minutes ago, The Real Buh said:

Sounds to me that without player sales we are toast 

And Johnny Rowe apart, who else can we sell next year?

You forget Sara and his upcoming 12:01am 1st of January sale

[Ulfotto 797]

Reading the doc in full Webber says he will be around until March 24 that will go down well.

[king canary 8,749]

8 minutes ago, Feedthewolf said:

"The club also sold the registrations of A Omobamidele, M Aarons, M Rashica and B Mumba subsequent to the year-end. The club is due receipts of £21,400,000 in respect of these transactions."

That seems a little low, doesn't it? Even if that's just the up-front payments not contingent upon add-on clauses, what are we looking at here? Say £1m Mumba, £4m Rashica, £6m Aarons and £10m Omobamidele?

I think those make sense. The expectation is we'll get more from Omo and Aarons based on clauses I think.

Does suggest the idea we recouped most of our spend on Rashica wasn't strictly true.

[Grando 336]

So much for self-funding…

[Canary Wundaboy 1,423]

2 minutes ago, king canary said:

I think those make sense. The expectation is we'll get more from Omo and Aarons based on clauses I think.

Does suggest the idea we recouped most of our spend on Rashica wasn't strictly true.

I always thought the Rashica thing was smoke and mirrors from the club, he wanted gone, the buying club knew he wasn’t wanted here, there’s no way we got more than half our initial outlay.

[hogesar 10,750]

8 minutes ago, king canary said:

I think those make sense. The expectation is we'll get more from Omo and Aarons based on clauses I think.

Does suggest the idea we recouped most of our spend on Rashica wasn't strictly true.

Do we know the actual amount we ended up paying for Rashica? Certainly no add-ons would have been triggered.

[king canary 8,749]

My main interest is in the wages so would appreciate some input from those who understand more.

We've reduced the wages from £118m to £56.5m which is obviously a huge drop. 

My question is, does this figure cover all of last season? In which case we'd likely expect it to have dropped significantly more since then with the departures of several well paid players in Pukki, Krul, Byram, Aarons and Dowell? 

[Capt. Pants 5,001]

13 minutes ago, Ulfotto said:

Reading the doc in full Webber says he will be around until March 24 that will go down well.

Not so sure on that. Some of the wording is aligned to the accounting period i.e up to the 30th June. Also Delia is referred to as Joint Majority Shareholder. He might be on the payroll but I can't believe he'll be playing an active part then.

[Tetteys Jig 851]

19 minutes ago, Feedthewolf said:

"The club also sold the registrations of A Omobamidele, M Aarons, M Rashica and B Mumba subsequent to the year-end. The club is due receipts of £21,400,000 in respect of these transactions."

That seems a little low, doesn't it? Even if that's just the up-front payments not contingent upon add-on clauses, what are we looking at here? Say £1m Mumba, £4m Rashica, £6m Aarons and £10m Omobamidele?

Sounds like none of the clauses are included in that. Even if it’s say £2m extra for Andy if Forest survive. We aren’t “due” it until they do even though they probably will.

[Ulfotto 797]

11 minutes ago, Capt. Pants said:

Not so sure on that. Some of the wording is aligned to the accounting period i.e up to the 30th June. Also Delia is referred to as Joint Majority Shareholder. He might be on the payroll but I can't believe he'll be playing an active part then.

Page 11 right hand side left of the two columns second bottom paragraph.

I mean it might have been written before knapper etc… funny thing to be in if you ask me

[Jim Smith 2,591]

Highest (only) paid director salary up to £446k from £177k. “Key management personnel” (unspecified) took home £2.6m.

Nice work if you can get it! 

[hogesar 10,750]

16 minutes ago, king canary said:

My main interest is in the wages so would appreciate some input from those who understand more.

We've reduced the wages from £118m to £56.5m which is obviously a huge drop. 

My question is, does this figure cover all of last season? In which case we'd likely expect it to have dropped significantly more since then with the departures of several well paid players in Pukki, Krul, Byram, Aarons and Dowell? 

Valid question (don't know the answer, just hoping someone does)

[Capt. Pants 5,001]

4 minutes ago, Jim Smith said:

Highest (only) paid director salary up to £446k from £177k. “Key management personnel” (unspecified) took home £2.6m.

Nice work if you can get it! 

That presumably includes Smith, Shakey, Wagner and Buhler and Webber as well?

[Haus 267]

39 minutes ago, king canary said:

I think those make sense. The expectation is we'll get more from Omo and Aarons based on clauses I think.

Does suggest the idea we recouped most of our spend on Rashica wasn't strictly true.

We should have kept him for that money

[PurpleCanary 6,371]

13 minutes ago, Jim Smith said:

Highest (only) paid director salary up to £446k from £177k. “Key management personnel” (unspecified) took home £2.6m.

Nice work if you can get it! 

I think the previous figure was for less than a year.

[Davidlingfield 72]

You have to love a set of accounts, audited by a p*ss pot audit firm - a cursory glance and you see:

1. In investments note, no mention of subsidiaries actually being liquidated even though it happened in August.

2. “Short term loan” of £39m in creditors<one year with absolutely no explanation in the notes, with same on shareholder/director loan of £37m. So £76m of short term debt not considered material enough to have an explanation.

Maybe there is an explanation elsewhere but that isn’t the point - accounts are meant to be user friendly.

My recommendation would be to cut the bullsh*t in the first part of the accounts and focus on providing a set of Financial Statements that comply with Accounting Standards, are factually correct and provide the reader with some useful information.

These accounts really do sum up the current malaise at the Club!

 

[Davidlingfield 72]

29 minutes ago, hogesar said:

Valid question (don't know the answer, just hoping someone does)

It covers all wages earned from 1st July 2022 - 30th June 2023, from all players who were employed at any point during that time (ie including those who left during that period, up to the point at which they left). It will also include any settlements paid out for cancelled contracts (not sure if there were any of these).

[Branston Pickle 4,144]

11 minutes ago, Davidlingfield said:

You have to love a set of accounts, audited by a p*ss pot audit firm - a cursory glance and you see:

1. In investments note, no mention of subsidiaries actually being liquidated even though it happened in August.

2. “Short term loan” of £39m in creditors<one year with absolutely no explanation in the notes, with same on shareholder/director loan of £37m. So £76m of short term debt not considered material enough to have an explanation.

Maybe there is an explanation elsewhere but that isn’t the point - accounts are meant to be user friendly.

My recommendation would be to cut the bullsh*t in the first part of the accounts and focus on providing a set of Financial Statements that comply with Accounting Standards, are factually correct and provide the reader with some useful information.

These accounts really do sum up the current malaise at the Club!

 

You clearly don’t know the purpose of accounts. They are not ‘meant to be user friendly’. They are a merely a legal requirement to inform the financial position for the year.  Just because you don’t understand them, don’t blame that on ncfc.