Jump to content
Sign in to follow this  
Yobocop

Accounts released for NCFC

Recommended Posts

Sorry if this has already been mentioned - but makes for positive reading doesn''t it?

http://www.canaries.co.uk/page/NewsDetails/0,,10355~2234274,00.html

Share this post


Link to post
Share on other sites

It does. Debt down to just under £21 million (when it down to £24 million the last financial year) and this is in League One. This year will see us gain another £5 million revenue from being in the Championship, with the debt down by another £1 million.

I have to say that the board have done everything right since relegation a few years ago:

  • Replaced most board members
  • Brought in McNally
  • Changed manager drastically and brought in Lambo
  • Gave him a decent transfer budget and allowed him to bring the right staff in

Well done board.

Share this post


Link to post
Share on other sites

Thanks Jez.

 

This is becoming a good day for us posters - I got the Worthy interview and Tangie''s got the accounts!

 

It''s Christmas come early[<:o)]

 

Share this post


Link to post
Share on other sites
Does anyone have a link to a full set of the accounts or will I have to pay Companies House?Looks good on the face of it and just shows what good management can achieve on the pitch and in the boardroom!

Share this post


Link to post
Share on other sites
[quote user="Kent Canary"]Does anyone have a link to a full set of the accounts or will I have to pay Companies House?Looks good on the face of it and just shows what good management can achieve on the pitch and in the boardroom![/quote]Ddddduuurrr managed to read the whole thing and have found the link.

Share this post


Link to post
Share on other sites
Makes great reading.

I was fully expecting a substantial loss last year following our relegation but the board seem to be a doing a terrific job, reducing our debt and cutting costs that had spiralled to a ridiculous level yet performing on the pitch as well.

Hopefully this time next year we''ll be look at a club that is breaking even and in a dream world the future financial rewards of Premiership football.

I have access to the accounts KC but not the y/e 2010, yet!

Share this post


Link to post
Share on other sites

Doomcaster got a pay-off of £173K! 

Not sure what the legal and professional fees concerned with strategic activities were but spending over £0.5million on them so would like an explanation please?

Players got a bonus between them of £826K - no wonder they are so hard working - remunerate well by way of payment for success and they will try harder.  Great strategy McNasty!

After all the talk of a £2 million black hole in 2009 only Foulger in fact leant any more, and that restricted to £750K.  So all in all a lot worse than could have been and the strategy to get promotion has saved Smith & Jones a packet!

Share this post


Link to post
Share on other sites
[quote user="Give Peas a Chance "]Sorry if this has already been mentioned - but makes for positive reading doesn''t it?

http://www.canaries.co.uk/page/NewsDetails/0,,10355~2234274,00.html[/quote]

Why does a loss of five and three quarter million quid make positive reading?

Share this post


Link to post
Share on other sites
[quote user="ricardo"][quote user="Give Peas a Chance "]Sorry if this has already been mentioned - but makes for positive reading doesn''t it?

http://www.canaries.co.uk/page/NewsDetails/0,,10355~2234274,00.html[/quote]

Why does a loss of five and three quarter million quid make positive reading?[/quote]Pardon me, there was a reason why i didn''t decide to pick economics at college, but doesn''t it show us to have made a ''net profit'', hence we''ve managed to wrestle the debt down a bit?If i have garnered some sort of grasp upon the matter, surely it shows we''ve already stifled the debt, and are now beginning to make inroads into eradicating it?If that''s the case, to think we were making heavy losses, in the Championship, in a period of economic success and affluence, and we''re not only able stop it, but begin to take strides in reducing it on the back of a serious economic downturn and relegation, is surely nothing short of absolute brilliance by our board?Mind you, i certainly won''t be embracing any tickets, though needs must and what have you.....

Share this post


Link to post
Share on other sites
[quote user="John"][quote user="ricardo"][quote user="Give Peas a Chance "]Sorry if this has already been mentioned - but makes for positive reading doesn''t it?

http://www.canaries.co.uk/page/NewsDetails/0,,10355~2234274,00.html[/quote]

Why does a loss of five and three quarter million quid make positive reading?[/quote]Pardon me, there was a reason why i didn''t decide to pick economics at college, but doesn''t it show us to have made a ''net profit'', hence we''ve managed to wrestle the debt down a bit?If i have garnered some sort of grasp upon the matter, surely it shows we''ve already stifled the debt, and are now beginning to make inroads into eradicating it?If that''s the case, to think we were making heavy losses, in the Championship, in a period of economic success and affluence, and we''re not only able stop it, but begin to take strides in reducing it on the back of a serious economic downturn and relegation, is surely nothing short of absolute brilliance by our board?Mind you, i certainly won''t be embracing any ticket hikes, though needs must and what have you.....[/quote]

Share this post


Link to post
Share on other sites
"Since the year end the Club has acquired the registrations of players Elliott Ward, Steven Smith, David Fox, Andrew

Surman, John Ruddy and Simeon Jackson.

The Club also sold the registrations of Michael Spillane to Brentford, Rhoys Wiggins to Bournemouth and David

Stephens to Hibernian.

The net cost of these transactions was £1.4 million."

This sounds like superb business if I''m understanding it correctly

Share this post


Link to post
Share on other sites
[quote user="icehockeyhair"]"Since the year end the Club has acquired the registrations of players Elliott Ward, Steven Smith, David Fox, Andrew

Surman, John Ruddy and Simeon Jackson.

The Club also sold the registrations of Michael Spillane to Brentford, Rhoys Wiggins to Bournemouth and David

Stephens to Hibernian.

The net cost of these transactions was £1.4 million."

This sounds like superb business if I''m understanding it correctly[/quote]Extraordinary (again, if we''re deciphering this correctly).If we''re to gauge anything from that, either the figures bandied around behind the transfers of Fox, Surman, Ruddy, and Jackson are way above the actual sums spent, or the money received for Spillane, Wiggins, and Stephens is way above what fans would dared to estimate.

Share this post


Link to post
Share on other sites

"Players got a bonus between them of £826K" not correct, that was the total bonus which would have undoubtedly also been paid to manager/coaching staff and others  "Doomcaster got a pay-off of £173K!" not correct, it states "Directors and senior executives" Doncaster left before 2009/10 accounts - figures for 2008/9 state £95,000 which was the figure stated by the clubworth noting - transfersSince the year end the Club has acquired the registrations of players Elliott Ward, Steven Smith, David Fox, Andrew Surman, John Ruddy and Simeon Jackson. The Club also sold the registrations of Michael Spillane to Brentford, Rhoys Wiggins to Bournemouth and David Stephens to Hibernian. The net cost of these transactions was £1.4 million. Which blows a MASSIVE hole in the old bollox that has been waffled on here about how much players cost (also highlights how ridiculous the binners claims of Marcus Evans spending tens of millions)  Income - Gate receipts and ticket sales - £6,989,000 Catering                               - £3,757,000

Share this post


Link to post
Share on other sites
[quote user="ricardo"][quote user="Give Peas a Chance "]Sorry if this has already been mentioned - but makes for positive reading doesn''t it?

http://www.canaries.co.uk/page/NewsDetails/0,,10355~2234274,00.html[/quote]

Why does a loss of five and three quarter million quid make positive reading?[/quote]Because the net debt has been paid down and you have to remember that the (£5.9) is the post tax / amortisation / depreciation / interest figure, an accounting loss is not the same thing as a real loss.Looks like the board have made a real effort.

Share this post


Link to post
Share on other sites
Just think... those accounts would look even better next year if we got promoted this season[;)]

Share this post


Link to post
Share on other sites
not quite as they will be for this season - which will have been spent in the Championship

Share this post


Link to post
Share on other sites
As usual the sensible poster to date is Ricardo. The accounts are awful showing a loss of £6 million although as has been pointed out £1.6 million is a non cash depreciation charge. We are kept afloat by advance season ticket sales of £7 million and sale of some more land. We are grimly hanging in there. Rather worrying is that the tax outstanding has doubled and plenty of money is owed by other football clubs.We have also extended a substantial amount of our loan via AXA to the year 2022 !! AXA lend out other peoples money.

The directors are doing their best and projecting next year in the best possible light, but overall typical football club accounts i.e. up to their neck in debt and earnings continue to be inadequate to finance players wages.

Lets hope we obtain some help from the authorities, for a change, when we get promoted. It will all get very interesting then.

Comments made after a fairly quick look at the figures. Will try to answer any "financial queries"

Share this post


Link to post
Share on other sites

[quote user="vos"]As usual the sensible poster to date is Ricardo. The accounts are awful showing a loss of £6 million although as has been pointed out £1.6 million is a non cash depreciation charge. We are kept afloat by advance season ticket sales of £7 million and sale of some more land. We are grimly hanging in there. Rather worrying is that the tax outstanding has doubled and plenty of money is owed by other football clubs.We have also extended a substantial amount of our loan via AXA to the year 2022 !! AXA lend out other peoples money. The directors are doing their best and projecting next year in the best possible light, but overall typical football club accounts i.e. up to their neck in debt and earnings continue to be inadequate to finance players wages. Lets hope we obtain some help from the authorities, for a change, when we get promoted. It will all get very interesting then. Comments made after a fairly quick look at the figures. Will try to answer any "financial queries"[/quote]

That''s exactly what McNally said at the NCISA AGM  "The accounts will not make good reading."

Suddenly when have a good win over Ipswich, everyone is cock a hoop, 2 days later the accounts are posted with a very positive spin.

It''s the policy of "a good day to bury etc"

Debt cleared in 7 years with it extended to 2022 now that is spin!!

Pass me a fag packet someone![;)]

Share this post


Link to post
Share on other sites

Could someone explain to me in plain English, what the difference is between the two 2010 columns, one says we lost £4.1m and one says we lost £1.7m?

Thankyou

Share this post


Link to post
Share on other sites

[quote user="cityangel"]

Could someone explain to me in plain English, what the difference is between the two 2010 columns, one says we lost £4.1m and one says we lost £1.7m?

Thankyou

[/quote]2.4mGlad to be of help.[:)]

Share this post


Link to post
Share on other sites

Could someone other than Morty answer my question please about the 2 columns £4.2m loss and £1.2m loss and where does Ricardo get £5.75m loss from.

I''m confused [:)]

Share this post


Link to post
Share on other sites
[quote user="cityangel"]

Could someone other than Morty answer my question please about the 2 columns £4.2m loss and £1.2m loss and where does Ricardo get £5.75m loss from.

I''m confused [:)]

[/quote]Hehehehe [;)]Wheres Tangy, when we need him?

Share this post


Link to post
Share on other sites
[quote user="morty"][quote user="cityangel"]

Could someone explain to me in plain English, what the difference is between the two 2010 columns, one says we lost £4.1m and one says we lost £1.7m?

Thankyou

[/quote]

2.4m

Glad to be of help.

[:)]
[/quote]

 

-

 

Suddenly everyone''s a comedian, eh Morty?!

 

Cherub, I don''t have the full accounts, only the club''s rather limited and partial statement, but I think one of those 2010 columns probably has an asterisk which relates to "excluding exceptional costs". It is natural for the club to draw attention to the asterisked figures because they tend to look better. Me, I go by the unasterisked figures. That is why I''ve given the loss as £5.8m rather than the.asterisked ££.1m.

 

Share this post


Link to post
Share on other sites
[quote user="PurpleCanary"][quote user="morty"][quote user="cityangel"]

Could someone explain to me in plain English, what the difference is between the two 2010 columns, one says we lost £4.1m and one says we lost £1.7m?

Thankyou

[/quote]

2.4m

Glad to be of help.

[:)]
[/quote]

 

-

 

Suddenly everyone''s a comedian, eh Morty?!

 

Cherub, I don''t have the full accounts, only the club''s rather limited and partial statement, but I think one of those 2010 columns probably has an asterisk which relates to "excluding exceptional costs". It is natural for the club to draw attention to the asterisked figures because they tend to look better. Me, I go by the unasterisked figures. That is why I''ve given the loss as £5.8m rather than the.asterisked ££.1m.

 

[/quote]

 

EDIT

 

...rather than the asterisked £3.1m...

 

Share this post


Link to post
Share on other sites

Thanks Purple, I get it now and can see where the £5.8m loss is stated now. Thanks for your help.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×
×
  • Create New...