Ipswich accounts revealed

[BroadstairsR 2,183]

https://twitter.com/SwissRamble/status/320087166187339776/photo/1

 

 

and no wonder they were delayed.

 

Look at the loss.

Look at the debt.

Look at the wages as a percentage of turnover, enabling them to come up with a side fighting relegation from the Chumps.

Look at the mess!

 

There but for the grace of God (with help from Lambert, McNally, Holt , Hughton et al.)**

 

This stuff abates my negativety after a droll Saturday home draw. This would have been more beneficial than my beers after the Wigan game. This will bring me back down to Earth should I get carried away by Yellow fever. This is the real World of football and not the Canary Cuckoo Land that some fan''s exist in.

 

**Not forgetting the 24, 500 average number of fans who supported the team in League One.

[BOO 0]

Their downward spiral continues and long may it do so.

109% ratio wages to turn over I think.Wonder what that would be for QPR?

[Davo 0]

It would be interesting to see if the binners have pulled their heads out of the sand yet. Their club has lost £16mill in a year and still managed to pay Marcus Evans over £3mill. I wonder how much of that £72.5mill debt is to Marcus Evans and how much of it is to local suppliers and the St John''s Ambulance.

 

Davo

 

[TIL 1010 4,760]

I don''t think we need one of our very own fag packet accountants to breakdown and explain this sorry mess for us however i expect the Binners will say that it is all owed to Mucus so it doesn''t really matter and it all bodes well for a promotion push next season.

[First Wazzock 902]

http://www.twtd.co.uk/forum/262230/so-itfcs-2011/12-accounts-have-finally-been-published...-yikes/#45

They are loving it.

Especially the bit that says ME has now bought their training ground, and how much they think it''s worth if sold for housing!!!

[PurpleCanary 5,566]

[quote user="Vanwink"]Their downward spiral continues and long may it do so.

109% ratio wages to turn over I think.Wonder what that would be for QPR?[/quote]

For QPR for the same financial year it was 90 per cent.

[AJ 1,224]

^^ But QPR''s doesn''t cover any of the signings this season, including Samba, and Remy who are on rather hefty wages

[PurpleCanary 5,566]

[quote user="TIL 1010"]

i expect the Binners will say that it is all owed to Mucus so it doesn''t really matter.

[/quote]

 

And is only about half the amount Bolton owe to their owner, Eddie Davies, so comparitively Ipswich are in a really healthy position.

[TIL 1010 4,760]

[quote user="PurpleCanary"][quote user="TIL 1010"]

i expect the Binners will say that it is all owed to Mucus so it doesn''t really matter.

[/quote]

 

And is only about half the amount Bolton owe to their owner, Eddie Davies, so comparitively Ipswich are in a really healthy position.

[/quote]

Mischief making Purple ? [:P]

[PurpleCanary 5,566]

[quote user="TIL 1010"][quote user="PurpleCanary"][quote user="TIL 1010"]

i expect the Binners will say that it is all owed to Mucus so it doesn''t really matter.

[/quote]

 

And is only about half the amount Bolton owe to their owner, Eddie Davies, so comparitively Ipswich are in a really healthy position.

[/quote]

Mischief making Purple ? [:P]

[/quote]

 

A purely factual post that attempts to put the situation in context, TIL. I can''t imagine anyone would take umbrage at that.

[Jim Smith 2,325]

Seems to me from my somewhat naive non-accounting background that Mr Marcus Evans is doing rather well out of this ongoing arrangement and will continue to do regardless of whether they stay in the championship or get promoted. indeed whilst he can merrily claim £3.5m in interest a year from the club (thus presumably recouping his initial relatively modest outlay when acquiring the debt over the space of 5 or 6 years) I can;t really see why there is any incentive for him to take any risk and put in any big money to try and get them up. in the meantime he appears to have acquired their biggest capital asset (the training ground which presumably may have some redevelopment potential) and the debt keeps growing. His exit strategy will presumably be to flog that debt to someone else. he will obviously have to write some of it off to get a sale but since he got it so cheap in the first place and will have made back his initial outlay through interest payments he can probably afford to do that.

Maybe the above is all wishful thinking but thats how I see it and if i was a binner I would not be happy with the situation at all.

Imagine if Delia had used her majority shareholding to make the club sell the land behind the Jarrold Stand to her and MWJ back before we got pp for it and developed it. we would be fuming!

[chrisr1606 6]

A welcome return for the Friday joke thread!

[Tangible Fixed Assets anyone? 0]

[quote user="BroadstairsR"]

There but for the grace of God (with help from Lambert, McNally, Holt , Hughton et al.)**

[/quote]

and you are forgetting the person who probably negotiated with the biggest two creditors AXA and the Bank and thus saved the club from going into Administration in the first place, i.e., Mr Bowkett.  Without that deal the rest would have been..............

[lappinitup 629]

[quote user="Tangible Fixed Assets anyone"]and you are forgetting the person who probably negotiated with the biggest two creditors AXA and the Bank and thus saved the club from going into Administration in the first place, i.e., Mr Bowkett.  Without that deal the rest would have been..............[/quote]It could just as easy have been Delia and MWJ or even Foulger. Can''t give them any credit though can we?

[Bws Cat 0]

Anybody else hoped this thread might of been a whistleblower for some accounts on here?

[Zak Van Burger 0]

Could the sale of the training ground be a pre-emptive act of asset stripping which would be forbidden by FA rule 34 in the event the Binners were placed into administration? ME can lawfully transfer their only asset to himself so long as the club is solvent but if he pulls the plug this rule 34 prevents him from such transfers, seems to me he''s running out of interest in owning a failing lower league football club and is looking to branch out into property development.[:D]

[TCCANARY 263]

[quote user="Tangible Fixed Assets anyone?"][quote user="BroadstairsR"]

There but for the grace of God (with help from Lambert, McNally, Holt , Hughton et al.)**

and you are forgetting the person who probably negotiated with the biggest two creditors AXA and the Bank and thus saved the club from going into Administration in the first place, i.e., Mr Bowkett.  Without that deal the rest would have been..............

[/quote]

Wouldn''t Mr Bowkett be included in the "et al." part or does he have to mentioned by name whenever any NCFC list for that period is written?

 

[nutty nigel 7,547]

[quote user="TCCANARY"][quote user="Tangible Fixed Assets anyone?"][quote user="BroadstairsR"]

There but for the grace of God (with help from Lambert, McNally, Holt , Hughton et al.)**

and you are forgetting the person who probably negotiated with the biggest two creditors AXA and the Bank and thus saved the club from going into Administration in the first place, i.e., Mr Bowkett.  Without that deal the rest would have been..............

[/quote]

Wouldn''t Mr Bowkett be included in the "et al." part or does he have to mentioned by name whenever any NCFC list for that period is written?

 

[/quote]

 

But the truth is Delia, MWJ, Foulger et all. Anything else is putting the cart before the horse. Does anyone seriously believe Bowkett went to the bank using his own money as a negotiating tool?

 

Those on here, Tangie et all, who wished Delia had sold up to the boy mucus would have had us where they are now.

 

 

[Tangible Fixed Assets anyone? 0]

[quote user="TCCANARY"][quote user="Tangible Fixed Assets anyone?"][quote user="BroadstairsR"]

There but for the grace of God (with help from Lambert, McNally, Holt , Hughton et al.)**

and you are forgetting the person who probably negotiated with the biggest two creditors AXA and the Bank and thus saved the club from going into Administration in the first place, i.e., Mr Bowkett.  Without that deal the rest would have been..............

[/quote]

Wouldn''t Mr Bowkett be included in the "et al." part or does he have to mentioned by name whenever any NCFC list for that period is written?

[/quote]

IMHO. I think he is worth a specific mention.

[Tangible Fixed Assets anyone? 0]

[quote user="nutty nigel"][quote user="TCCANARY"][quote user="Tangible Fixed Assets anyone?"][quote user="BroadstairsR"]

There but for the grace of God (with help from Lambert, McNally, Holt , Hughton et al.)**

and you are forgetting the person who probably negotiated with the biggest two creditors AXA and the Bank and thus saved the club from going into Administration in the first place, i.e., Mr Bowkett.  Without that deal the rest would have been..............

[/quote]

Wouldn''t Mr Bowkett be included in the "et al." part or does he have to mentioned by name whenever any NCFC list for that period is written?

 

[/quote]

Does anyone seriously believe Bowkett went to the bank using his own money as a negotiating tool?

[/quote]

Nutty, do you think he rode up with a fistful of fivers?

[Tangible Fixed Assets anyone? 0]

[quote user="nutty nigel"]

Those on here, Tangie et all, who wished Delia had sold up to the boy mucus would have had us where they are now.

[/quote]

1) BTW., its et al., so if i''m daft what are you?

2) Was there any evidence that Delia (& MWJ.) was planning to sell out to Marcus Evans or anybody else?

3) Had they sold to Marcus Evans what evidence is there that we would have gone the same way as Ipswich who were in a worse financial state than we were at that time.

 

[nutty nigel 7,547]

[quote user="Tangible Fixed Assets anyone"][quote user="nutty nigel"][quote user="TCCANARY"][quote user="Tangible Fixed Assets anyone?"][quote user="BroadstairsR"]

There but for the grace of God (with help from Lambert, McNally, Holt , Hughton et al.)**

and you are forgetting the person who probably negotiated with the biggest two creditors AXA and the Bank and thus saved the club from going into Administration in the first place, i.e., Mr Bowkett.  Without that deal the rest would have been..............

[/quote]

Wouldn''t Mr Bowkett be included in the "et al." part or does he have to mentioned by name whenever any NCFC list for that period is written?

 

[/quote]

Does anyone seriously believe Bowkett went to the bank using his own money as a negotiating tool?

[/quote]

Nutty, do you think he rode up with a fistful of fivers?

[/quote]

 

No.. I think he went there on behalf of the club''s owners. You could liken it to a butler running an errand for his master. (Now there''s a topical comparison)

 

 

[nutty nigel 7,547]

[quote user="Tangible Fixed Assets anyone"]

[quote user="nutty nigel"]

Those on here, Tangie et all, who wished Delia had sold up to the boy mucus would have had us where they are now.

[/quote]

1) BTW., its et al., so if i''m daft what are you?

2) Was there any evidence that Delia (& MWJ.) was planning to sell out to Marcus Evans or anybody else?

3) Had they sold to Marcus Evans what evidence is there that we would have gone the same way as Ipswich who were in a worse financial state than we were at that time.

 

[/quote]

 

Delia wouldn''t have sold the club to the likes of marcus evans. Some of us were pleased. But you, your daft bro and your vindictive mate thought she should. Apparently the binners were showing the sort of ambition that the cook and her cohorts didn''t have for our club. There was more than a whif of bin from you three and some others back then. Now you manage to get the associated threads deleted one by one and pretend you always bled yellow and green.

 

 

[vos 155]

[quote user="Jim Smith"]Seems to me from my somewhat naive non-accounting background that Mr Marcus Evans is doing rather well out of this ongoing arrangement and will continue to do regardless of whether they stay in the championship or get promoted. indeed whilst he can merrily claim £3.5m in interest a year from the club (thus presumably recouping his initial relatively modest outlay when acquiring the debt over the space of 5 or 6 years) I can;t really see why there is any incentive for him to take any risk and put in any big money to try and get them up. in the meantime he appears to have acquired their biggest capital asset (the training ground which presumably may have some redevelopment potential) and the debt keeps growing. His exit strategy will presumably be to flog that debt to someone else. he will obviously have to write some of it off to get a sale but since he got it so cheap in the first place and will have made back his initial outlay through interest payments he can probably afford to do that. Maybe the above is all wishful thinking but thats how I see it and if i was a binner I would not be happy with the situation at all. Imagine if Delia had used her majority shareholding to make the club sell the land behind the Jarrold Stand to her and MWJ back before we got pp for it and developed it. we would be fuming![/quote]

Yes Jim he is claiming £3.5 m interest but it is not being paid its just being added to his loan to the Club which now appears to be around £60/70 million. i.e a lot of this includes previous years unpaid interest. Technically the Club is worthless as they do not own the ground and the playing squad is worth peanuts. I cannot quite see why ME continues his lossmaking support. He does own other offshore companies and presumably this particular arrangement suits his overall finances. The minute he ceases his support it would appear from the facts before us that the Football Club would go in to administration. Goodness knows what happens then as who would pay much to take over the Club in its present state. Having said that the only hope would seem to be for someone with money to throw about who would like an expensive toy.

[Tangible Fixed Assets anyone? 0]

[quote user="nutty nigel"][quote user="Tangible Fixed Assets anyone"][quote user="nutty nigel"][quote user="TCCANARY"][quote user="Tangible Fixed Assets anyone?"][quote user="BroadstairsR"]

There but for the grace of God (with help from Lambert, McNally, Holt , Hughton et al.)**

and you are forgetting the person who probably negotiated with the biggest two creditors AXA and the Bank and thus saved the club from going into Administration in the first place, i.e., Mr Bowkett.  Without that deal the rest would have been..............

[/quote]

Wouldn''t Mr Bowkett be included in the "et al." part or does he have to mentioned by name whenever any NCFC list for that period is written?

 

[/quote]

Does anyone seriously believe Bowkett went to the bank using his own money as a negotiating tool?

[/quote]

Nutty, do you think he rode up with a fistful of fivers?

[/quote]

 

No.. I think he went there on behalf of the club''s owners.

[/quote]

Who are you defining as the club''s owners?

[Tangible Fixed Assets anyone? 0]

[quote user="nutty nigel"][quote user="Tangible Fixed Assets anyone"]

[quote user="nutty nigel"]

Those on here, Tangie et all, who wished Delia had sold up to the boy mucus would have had us where they are now.

[/quote]

1) BTW., its et al., so if i''m daft what are you?

2) Was there any evidence that Delia (& MWJ.) was planning to sell out to Marcus Evans or anybody else?

3) Had they sold to Marcus Evans what evidence is there that we would have gone the same way as Ipswich who were in a worse financial state than we were at that time.

 

[/quote]

 

Delia wouldn''t have sold the club to the likes of marcus evans. Some of us were pleased. But you, your daft bro and your vindictive mate thought she should. Apparently the binners were showing the sort of ambition that the cook and her cohorts didn''t have for our club. There was more than a whif of bin from you three and some others back then. Now you manage to get the associated threads deleted one by one and pretend you always bled yellow and green.

[/quote]

Yes, I did comment on their ambition but where did I say that NCFC. should be sold to Marcus Evans?

[Bill 1,788]

this is supposed to be a thread about the dire state of our impoverished neighbours

 

not yet another re-run of old battles .... with the usual suspects

 

shame on you

 

 

[nutty nigel 7,547]

I feel no shame in reminding posters on here of their past affiliations with the binners and how they used that grubby little club and their so-called investor as a stick to beat our club and it''s benefactors with. No shame whatsoever.

 

Shame on you for thinking I would...

 

 

 

 

 

 

[Bill 1,788]

Unfortunately it distracts from the OP, which is the paupers long overdue accounts which show a staggering loss of nearly £16m ....in one season ! A loss that did not include any ground redevelopment or even any transfer fee of any note.

 

 

There was mass hysteria on here when we had debts of £23m. These had been accumulated over a long period not one season ! In fact they only increased by £5m in five years and then partially due the loss of £2.75m TV money in 2009 (relegation). Of the previous £18m there were capital costs of £9.2m (new South Stand) and roads £1.8m.

 

 

It is difficult to comprehend how this grubby little club could overspend by that much ... in one season. A figure that would have been even higher were not that the ever grasping Evans had helped himself to their training ground for a fee of £1.3m. A transaction that shockingly remained completely unannounced to the rural dimwits for nearly a year (or more). More worringly for these numbskulls is that the training ground is now owned by Marcus Evans (Guernsey) - an offshore company that suggests another tax ruse rather than any benefit to this failing club.

 

 

What else has been spirited away we will have to wait and see, but the evidence does sem to suggest that Evans is dumping the debts onto the club whilst transferring the assets out of the hands of any future liquidators. The paupers should prepare for the worst. If they are daft enough to think that anyone would be willing to cough up £80m, or so, for a club struggling at the foot of the Championship (or worse) that owns little bar a lease on a ground and a squad patched up with loanees and other clubs has beens then they are dimmer than the most dimmest of dim lights with the dimswitch turned to it''s lowest point.

 

And we were told that Marcus Evans wasn''t an asset stripper .

 

Playford Road .... hmmm

 

 

 

 

 

 

 

[Ketts Rebel 0]

That will teach them to wave tenner''s in our faces.