why have we lost £6m this year?

[birminghamcanary 0]

I don''t understand how we have lost £6m this year! Are they including in that the cost of the players and the new stand? If not, we''ve had one of our most succesful seasons, capacity crowds, more shirts and other merchandise sold than ever before, etc and we''re still losing money!!

Glad I''m not Neil Doncaster, sounds tricky!!

[Karl Pilkington 0]

From the accounts point of view for most of the season we only had 16,000 gates so that could be it.

I wouldn''t lose any sleep about it. It is in the clubs intrest to make it look like we are not making profits then the man from the revenue wont demand such a big pound of flesh.

[Kathy 733]

All I can say its a b****y good job we did get promoted otherwise we would be up the creek without a paddle, wouldnt we?

[Old Yeller 0]

nobody ever tells the truth about money, least of all in football.
we''ll know better what the financial situation is when we see how many and who we go into the market for close season.

[At last? 0]

These loss levels were predicted hence the share issues. Monies raised from share issues and from Delias loans is not accounting income just cash flow income. Also, some of the expenditure for accounts purposes isnt actually cash flow, such as depreciation of assets (such as the stands).

Don''t forget we also are making large interest payments on the securitisation loans.

In summary the board are quite rightly concentrating on cashflow as opposed to profit and accounting losses in football clubs are nothing new.

This really just backs up why things such as the resturant, hotel, etc are so important.

As for the comment the club deliberatly understate profits to avoid tax - frankly outrageous and surprised the monitors let it on.

[aaaaa aaaaa 0]

I think Ncfc do make it seem worse then it actually is.
They have never really told us the truth about why we loose so much money... although i suppose now the shareholders can see where the money is going as it''s law for Ncfc to state it.
It is very good that we have been promoted, because we can now restore some really good stability in Ncfc.

[Stevie 0]

The fact that the accounts are audited by Grant Thornton means the profit is unlikely to be understated. The Revenue come down like a ton of bricks on anybody who they discover to be avoiding tax.

[FatMan Fat 0]

If you want to see where the figures come from wait for the Accounts to be produced. As a limited company the football company will not decieve the Revenue in terms of its trading position for the simple reason that that would be illegal!!

[Dr. Jonathan Zizmor 0]

Why the surprise? The club always said that they were taking a calculated risk splashing out on new players etc and that if we didn''t go up we''d have to sell some players. Fortunately it worked out.