Tommo_ Posted February 29, 2016 Share Posted February 29, 2016 Gi gate receipts back Link to comment Share on other sites More sharing options...
33 Posted February 29, 2016 Share Posted February 29, 2016 Match receipts and associated turnover - £10,158 (2015), £9,971 (2014) above figs are thousands Link to comment Share on other sites More sharing options...
Road Runner Posted February 29, 2016 Share Posted February 29, 2016 Match receipts and associated turnover - £10,158 (2015), £9,971 (2014) above figs are thousands In S2 maybe Link to comment Share on other sites More sharing options...
33 Posted February 29, 2016 Share Posted February 29, 2016 Link to comment Share on other sites More sharing options...
Bluesteel Posted February 29, 2016 Share Posted February 29, 2016 btw - I would imagine this was the 'plan' around FFP the Chairman mentioned Does that suggest the need for promotion in the short term then? i.e. covered in FFP terms due to raising cash now but not for the season after. Link to comment Share on other sites More sharing options...
Guest oasisowl81 Posted February 29, 2016 Share Posted February 29, 2016 btw - I would imagine this was the 'plan' around FFP the Chairman mentioned It isn't a way around FFP Link to comment Share on other sites More sharing options...
Whatahoot Posted February 29, 2016 Share Posted February 29, 2016 Season Ticket monies taken for 16/17 and 17/18 will be treated as accruals and applied in the accounts in the financial year they are representative. These accruals should be shown on the liability side of the balance sheet, with the counter balance being a credit bank balance, until the funds are applied to the profit and loss account in the trading year they are intended for. These bank balances should be held ( in escrow) in identified bank accounts, that show they are held in both the clubs and customers joint right. This would identify them as having preferred status should the club go into liquidation in the meantime. Link to comment Share on other sites More sharing options...
Inspector Lestrade Posted February 29, 2016 Share Posted February 29, 2016 Isn't it just a snapshot of the accounts anyway? Tomorrow it could look a lot worse or a lot better. So unless there is a massive debt, surely there is little of any concern. Or am I just talking my usual bolocks? Link to comment Share on other sites More sharing options...
Inspector Lestrade Posted February 29, 2016 Share Posted February 29, 2016 Season Ticket monies taken for 16/17 and 17/18 will be treated as accruals and applied in the accounts in the financial year they are representative. These accruals should be shown on the liability side of the balance sheet, with the counter balance being a credit bank balance, until the funds are applied to the profit and loss account in the trading year they are intended for. These bank balances should be held ( in escrow) in identified bank accounts, that show they are held in both the clubs and customers joint right. This would identify them as having preferred status should the club go into liquidation in the meantime. ^^^^^^^ Thats what I meant to say. Link to comment Share on other sites More sharing options...
Guest Deleted member Posted February 29, 2016 Share Posted February 29, 2016 Season Ticket monies taken for 16/17 and 17/18 will be treated as accruals and applied in the accounts in the financial year they are representative. These accruals should be shown on the liability side of the balance sheet, with the counter balance being a credit bank balance, until the funds are applied to the profit and loss account in the trading year they are intended for. These bank balances should be held ( in escrow) in identified bank accounts, that show they are held in both the clubs and customers joint right. This would identify them as having preferred status should the club go into liquidation in the meantime. This is how I understand it used to work. I just wondered if it was different this time - which is why nobody would provide finance on them for any longer than 10 months (and why you couldn't use a credit card to buy the 2 or 3 year deal either) Link to comment Share on other sites More sharing options...
Road Runner Posted February 29, 2016 Share Posted February 29, 2016 This is how I understand it used to work. I just wondered if it was different this time - which is why nobody would provide finance on them for any longer than 10 months (and why you couldn't use a credit card to buy the 2 or 3 year deal either) Sure it was reported on here at the recent Q&A that the finance company didn't want to take the risk so the club was looking at bringing in house or something similar. And I think the consumer credit act stops you getting a 3 year ticket on a CC because you have purchased something that doesn't exist yet. Link to comment Share on other sites More sharing options...
Guest Deleted member Posted February 29, 2016 Share Posted February 29, 2016 If the money is in Escrow - wheres the risk? Link to comment Share on other sites More sharing options...
Whatahoot Posted February 29, 2016 Share Posted February 29, 2016 This is how I understand it used to work. I just wondered if it was different this time - which is why nobody would provide finance on them for any longer than 10 months (and why you couldn't use a credit card to buy the 2 or 3 year deal either) Its how Glasgow Rangers got into big trouble, when a buyout was part funded by these type of season ticket monies. They had not been identified as funds held in dual right/accruals and they took these future sales into their P/L account in the current year. Link to comment Share on other sites More sharing options...
Whatahoot Posted February 29, 2016 Share Posted February 29, 2016 If the money is in Escrow - wheres the risk? There is'nt one if this is the case. There is only a risk if its NOT the case. Link to comment Share on other sites More sharing options...
Guest mkowl Posted February 29, 2016 Share Posted February 29, 2016 mkowl normally posts a good summary so needs to get on the job! just visiting will be along to tell us how bad they are. TURNOVER Will do a bit later - ruddy clients want me to do some real work at the moment Link to comment Share on other sites More sharing options...
coreyswfc Posted February 29, 2016 Share Posted February 29, 2016 Some just love a good old moan You could say the same about a good old clap Link to comment Share on other sites More sharing options...
BIG D Posted February 29, 2016 Share Posted February 29, 2016 Turnover increased and losses decreased during the first financial period of Dejphon Chansiri's ownership of Sheffield Wednesday. The club today published their accounts for the year ending May 31, 2015, which includes the final few months of Milan Mandaric's reign and the early days of Chansiri's control of the Owls. The accounts reveal that the club is debt free following Chansiri's takeover, which was confirmed on February 26, 2015. The club closed the previous financial year with a net debt of £18,678,000 but following Chansiri's purchase, they closed on May 31 last year £563,000 in the black. Turnover rose by £1.1m to £14.9m during the period, an increase attributed to a three per cent rise in average league attendance to 21,997 plus improved revenue from commercial activities. Losses were reduced by £1.2m to £4.4m. Wednesday made £1,234,000 in profit from player sales during the financial year, up from £328,000 the previous year. Michail Antonio was sold to Nottingham Forest for a reported £1.5m during the period. Loans of £1.5m and £2.0m taken out against the Hillsborough stadium were repaid in full on February 11, 2015. Another loan of £1 A £4m debt amount owed to Chansiri was exchanged for an equal amount of newly issued shares on May 29, 2015. The total shareholders' funds (assets minus liabilities) of the club - owned entirely by Chansiri - was £12,618,000 at the close of the year, up from minus-£6,209,000 the previous year. By May 31, 2015, a total of £90,000 in transfer fees was pending based on future player appearances. This figure stood at £504,000 the previous year. And signing on fees and loyalty bonuses pending rose to £400,000 from £392,000. It was acknowledged in the accounts that some player contracts and transfer agreements include clauses for additional wages and/or fees should the club be promoted to the Premier League during the lifetime of the players' contracts. It was also noted these amounts are less than the amount of additional income Premier League promotion would bring. The club's average monthly number of employees stood at 218 with company wages standing at £11,881,000 before social security and pension contributions. Link to comment Share on other sites More sharing options...
Quadzilla Posted February 29, 2016 Share Posted February 29, 2016 How close to failing the ffp regs were we? Link to comment Share on other sites More sharing options...
Guest mkowl Posted February 29, 2016 Share Posted February 29, 2016 Really don't think the season ticket monies in advance will be in escrow. Hate to tell everyone that all season ticket holders are unsecured creditors and if the company went bust we wouldn't have much hope of getting all our money back Reckon Chansiri has put £8.5m in upto 31st May 2015. Accounts show shares issued of £23m, of which £19m was put in to repay the loans UK Football Investments and other 3rd parties had put in. The other £4m was converted from loans put in by CC. He is still owed £4.5m The £4m is probably 100% to do with FFP regulations as to how much the owner can put in and leave as debts Link to comment Share on other sites More sharing options...
happy bunny Posted February 29, 2016 Share Posted February 29, 2016 You could say the same about a good old clap Please point out the clapping Link to comment Share on other sites More sharing options...
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