Here Are The Accounts.

[Canary Pie 25]

Well the useful idiots Webber and Webber have done a fine job of driving the club into a position where MA and friends now have total control. They are now no longer useful so I expect Zoe will be gone with Stu and Wagner too in a few short months (or is that weeks). I can't see Smith and Jones here by this time next year either the club is in an utter mess and the fun must be starting to wane for them.

[Davidlingfield 63]

17 minutes ago, Branston Pickle said:

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. 

You have come out pretty defensively there, haven’t you - do you work at NCFC?

I can assure you that I do understand accounts - as a Chartered Accountant, I have audited and prepared many sets of accounts.

These are factually inaccurate and don’t have the correct disclosures - I would have been embarrassed if I were the qualified auditor who had signed these off.

It is hardly a surprise there is a c£3m prior year adjustment for a previous error - unsurprisingly, they were wrong last year too.

[Jim Smith 2,339]

59 minutes ago, Capt. Pants said:

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

Nope. There is only one paid director 

[Jim Smith 2,339]

1 minute ago, Jim Smith said:

Nope. There is only one paid director 

Sorry you mean the key management personnel? I’m not sure it does but the club has never provided an explanation of who key management personel are. I’ve always assumed the coaching staff come under the football wages side of things. 

[Davidlingfield 63]

1 minute ago, Jim Smith said:

Sorry you mean the key management personnel? I’m not sure it does but the club has never provided an explanation of who key management personel are. I’ve always assumed the coaching staff come under the football wages side of things. 

Management personnel will include Zoe and Stuart Webber, FD and anyone else in Exec Committee. Don’t think it includes Manager/Head Coach

[Branston Pickle 3,696]

20 minutes ago, Davidlingfield said:

You have come out pretty defensively there, haven’t you - do you work at NCFC?

I can assure you that I do understand accounts - as a Chartered Accountant, I have audited and prepared many sets of accounts.

These are factually inaccurate and don’t have the correct disclosures - I would have been embarrassed if I were the qualified auditor who had signed these off.

It is hardly a surprise there is a c£3m prior year adjustment for a previous error - unsurprisingly, they were wrong last year too.

What, because you don’t understand why/how accounts are produced it means I’m an employee of the club?  Yes, that’s the only logical answer.
You are suggesting the accounts or the audit aren’t up to scratch - materially and deliberately.

Edited November 3, 2023 by Branston Pickle

[nutty nigel 7,645]

We're doomed.

My old buddy Lapps would have been beside himself about the plethora of FPAs on here these days.

[Jim Smith 2,339]

4 minutes ago, Davidlingfield said:

Management personnel will include Zoe and Stuart Webber, FD and anyone else in Exec Committee. Don’t think it includes Manager/Head Coach

Quite. So it’s basically 5 or 6 of them, Jo doubt with the bulk going to the more senior members. Doing very nicely as they flog off our players on the cheap and saddle the club with tens of millions of short term debt. 

[Davidlingfield 63]

8 minutes ago, Branston Pickle said:

What, because you don’t understand why/how accounts are produced it means I’m an employee of the club?  Yes, that’s the only logical answer.
If you are an accountant I’m surprised you don’t seem to understand - perhaps you need to keep up your CPD.  
And if you are suggesting the accounts or the audit aren’t up to scratch I suggest you report them.  I do find them rather hopeless myself.

I’m all good with my CPD thanks, but I appreciate your concern!

[Cowboy 204]

11 minutes ago, Branston Pickle said:

What, because you don’t understand why/how accounts are produced it means I’m an employee of the club?  Yes, that’s the only logical answer.
You are suggesting the accounts or the audit aren’t up to scratch - materially and deliberately.  If so I suggest you report them.

I fear you might be slightly outgunned, old boy!

[Dr Greenthumb 750]

Back to pleading poverty, yayyyyy

[Branston Pickle 3,696]

3 minutes ago, Cowboy said:

I fear you might be slightly outgunned, old boy!

How so?  This guy doesn’t even know the purpose of accounts and seems to be calling the auditors out - not very professional.

Edited November 3, 2023 by Branston Pickle

[nutty nigel 7,645]

2 minutes ago, Cowboy said:

I fear you might be slightly outgunned, old boy!

I don't think so.

Otherwise we wouldn't have to wait for Mr Bunce to reveal all.

[Capt. Pants 4,284]

So in terms of the headline numbers are these results good or bad? I've scan read Zoe's notes but can't pick out a relevant comment. 

To make a £27.2m pre tax loss on £75.6m turnover is worrying as next year's turnover will be even less?

[Davidlingfield 63]

Just now, Capt. Pants said:

So in terms of the headline numbers are these results good or bad? I've scan read Zoe's notes but can't pick out a relevant comment. 

To make a £27.2m pre tax loss on £75.6m turnover is worrying as next year's turnover will be even less?

It’s deliberately done like that to mask the terrible news, hidden deep in the notes to the accounts!

[Branston Pickle 3,696]

22 minutes ago, Davidlingfield said:

I’m all good with my CPD thanks, but I appreciate your concern!

I’m more concerned for your (our) profession.  You seem to be calling into doubt the accountants working for ncfc and also the auditors. I don’t consider that particularly professional behaviour. And no, I have never worked for ncfc.

Edited November 3, 2023 by Branston Pickle

[Davidlingfield 63]

1 minute ago, Branston Pickle said:

I’m more concerned for your (our) profession.  

So am I based on these accounts!

[Jim Smith 2,339]

Can someone who understands the figures clarify, is the £39m short term loan in addition to the loans from/ debt to MA or did the loan from MA replace and enable us to repay the £39m short term loan?

[cambridgeshire canary 6,821]

Remember those times Webber went on about how previous people in charge of this club had "pissed money up the wall" and had caused debts and money issues?

 

Yeah about that

[NewNestCarrow 203]

20 minutes ago, Branston Pickle said:

How so?  This guy doesn’t even know the purpose of accounts and seems to be calling the auditors out - not very professional.

There are plenty of occasions where figures published by NCFC [either via the accounts or docs regarding shareholding issues] have proved to be wrong.

And there are plenty of other posters who have raised this issue previously. 

 

[Davidlingfield 63]

4 minutes ago, Jim Smith said:

Can someone who understands the figures clarify, is the £39m short term loan in addition to the loans from/ debt to MA or did the loan from MA replace and enable us to repay the £39m short term loan?

It’s in addition (although no explanation in the accounts). £76m in total.

[Big Vince 319]

2 hours 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?

What about the sell on they got for Maddison? Not even mentioned. Club hiding things again.

[Jim Smith 2,339]

5 minutes ago, Davidlingfield said:

It’s in addition (although no explanation in the accounts). £76m in total.

So £76m in debt?

[Soldier on 168]

2 minutes ago, Jim Smith said:

So £76m in debt?

Yes but a red herring as still due a parachute payment and doesn’t include the 21 million from player sales and Maddison money. Much of the money also owed to Attanassio rather than external debt

[Indy 3,322]

2 minutes ago, Soldier on said:

Yes but a red herring as still due a parachute payment and doesn’t include the 21 million from player sales and Maddison money. Much of the money also owed to Attanassio rather than external debt

Why isn’t the final years parachute payments not included? 

[norfolkngood 1,091]

Not really getting value for money out of the players wages are we ! 

Need a totally overhaul again ! Rebuild on Lower wages needed unless MA is going to pump money in ,

we are running out of silverware to sell Sara / Rowe at Moment and Sarge if he makes full recovery  (which i hope ! )

 

[Badger 2,412]

3 minutes ago, Indy said:

Why isn’t the final years parachute payments not included? 

Because we get it this year, not last year.

[Indy 3,322]

Just now, Badger said:

Because we get it this year, not last year.

So where’s last years?

Edited November 3, 2023 by Indy

[Davidlingfield 63]

6 minutes ago, Soldier on said:

Yes but a red herring as still due a parachute payment and doesn’t include the 21 million from player sales and Maddison money. Much of the money also owed to Attanassio rather than external debt

Not really a red herring - net current liabilities (I.e. due within one year) are £75m.

[Badger 2,412]

1 minute ago, Indy said:

So where’s last years?

It will be in the accounts as revenue.