Yobocop 1,083 Posted November 30, 2010 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
SnakepitCanary 0 Posted November 30, 2010 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 membersBrought in McNallyChanged manager drastically and brought in LamboGave him a decent transfer budget and allowed him to bring the right staff inWell done board. Share this post Link to post Share on other sites
SnakepitCanary 0 Posted November 30, 2010 Them points were ment to be bracketed and formatted. Share this post Link to post Share on other sites
nutty nigel 7,352 Posted November 30, 2010 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
Yelloow Since 72 53 Posted November 30, 2010 Excellent News!This is a club going forward again on all fronts! Well done indeed! Share this post Link to post Share on other sites
Jack Barak 46 Posted November 30, 2010 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
Jack Barak 46 Posted November 30, 2010 [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
Canary_on_the Trent 0 Posted November 30, 2010 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
shefcanary 2,341 Posted November 30, 2010 Nicking Lambert from Col Who cost £626K - worth every penny! Share this post Link to post Share on other sites
shefcanary 2,341 Posted November 30, 2010 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
Lambert is King 0 Posted November 30, 2010 [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]Think this is ithttp://www.soccerpmonline.co.uk/download/AnnualReport2010.pdf Share this post Link to post Share on other sites
ricardo 7,239 Posted November 30, 2010 [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
John 0 Posted November 30, 2010 [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
John 0 Posted November 30, 2010 [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
icehockeyhair 0 Posted November 30, 2010 "Since the year end the Club has acquired the registrations of players Elliott Ward, Steven Smith, David Fox, AndrewSurman, John Ruddy and Simeon Jackson.The Club also sold the registrations of Michael Spillane to Brentford, Rhoys Wiggins to Bournemouth and DavidStephens 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
John 0 Posted November 30, 2010 [quote user="icehockeyhair"]"Since the year end the Club has acquired the registrations of players Elliott Ward, Steven Smith, David Fox, AndrewSurman, John Ruddy and Simeon Jackson.The Club also sold the registrations of Michael Spillane to Brentford, Rhoys Wiggins to Bournemouth and DavidStephens 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
Bill 1,788 Posted November 30, 2010 "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
Jack Barak 46 Posted November 30, 2010 [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
Boyo 0 Posted November 30, 2010 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
Twitchy 0 Posted November 30, 2010 Steady on Boyo'' but I sure do love your forward thinking lad. Share this post Link to post Share on other sites
Bill 1,788 Posted November 30, 2010 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
vos 155 Posted November 30, 2010 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
The Butler 0 Posted November 30, 2010 [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
ca 1 Posted November 30, 2010 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
morty 0 Posted November 30, 2010 [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
ca 1 Posted November 30, 2010 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
morty 0 Posted November 30, 2010 [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
PurpleCanary 5,531 Posted November 30, 2010 [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]2.4mGlad 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
PurpleCanary 5,531 Posted November 30, 2010 [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]2.4mGlad 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
ca 1 Posted November 30, 2010 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