F. Spiksley Posted February 29, 2016 Share Posted February 29, 2016 According to my piggy work mate we're back to square one. Is he a thickfuck? Link to comment Share on other sites More sharing options...
daveyboy66 Posted February 29, 2016 Share Posted February 29, 2016 Is he a thickfuck? naturally, why ask ? Link to comment Share on other sites More sharing options...
S36 OWL Posted February 29, 2016 Share Posted February 29, 2016 Nothing unexpected in these,year end May 2016, will be much more interested. Highlights.....income up (tickets sales and commercial activities) Debtors up by approx £1m (owed to Wednesday). No real breakdown in accounts as to why. All monies owed to previous directors (apart from £3000 mentioned contingent liabilities) now repaid. All First and Second legal charges removed from Hillsborough Stadium. Chansiri put in a £5 loan on day one to help cash flow and ensure payments made when they fell due. No mention of sponsorship monies owed by Mammatov or if we intend to chase this debt. Summary... Much stronger set of accounts, despite still supporting losses (albeit reducing). Net worth of company is healthier, although the true worth is not representative, as they do not take into account Chansiri's full involvement and his substantial backing/ personal worth. Dint Milan say before he left he had his lawyers chasing that one up ? Link to comment Share on other sites More sharing options...
F. Spiksley Posted February 29, 2016 Share Posted February 29, 2016 naturally, why ask ? All part of the audit, I needed to confirm that the blade piping up was indeed an official blade, and therefore a thickfuck. Link to comment Share on other sites More sharing options...
Guest Deleted member Posted February 29, 2016 Share Posted February 29, 2016 really... there's someone who coughed up for an exec box for three years who thinks we are going into admin...sounds more like someone gutted that the club are moving forward at long last TBH any ideas? Sounds like common sense to me. Why would you lay out for 3 years of an exec box - when you. me, he or anybody else has no idea whether Chansiri may sell up in that time, we end up with someone who makes a mess of things and we end up going backwards just because you can't see anything but the sun shining from exteriors doesnt mean that people laying out circa £100k might want it guaranteeing in some way Link to comment Share on other sites More sharing options...
Road Runner Posted February 29, 2016 Share Posted February 29, 2016 At the time of Chansiri taking over we all wondered if the loan note holders including DA had been paid up. Does it show them as paid up or still owed? Link to comment Share on other sites More sharing options...
Guest Deleted member Posted February 29, 2016 Share Posted February 29, 2016 At the time of Chansiri taking over we all wondered if the loan note holders including DA had been paid up. Does it show them as paid up or still owed? Still owed if we return to Premier League before 2021 Link to comment Share on other sites More sharing options...
daveyboy66 Posted February 29, 2016 Share Posted February 29, 2016 Sounds like common sense to me. Why would you lay out for 3 years of an exec box - when you. me, he or anybody else has no idea whether Chansiri may sell up in that time, we end up with someone who makes a mess of things and we end up going backwards just because you can't see anything but the sun shining from exteriors doesnt mean that people laying out circa £100k might want it guaranteeing in some way Don't really know spending £100k is beyond my ken...certainly wouldn't spend it if I thought that DC was going to bail out...everything he's said points to him being here for the long haul Link to comment Share on other sites More sharing options...
Road Runner Posted February 29, 2016 Share Posted February 29, 2016 Still owed if we return to Premier League before 2021 Cheers Touch and go whether they are paid then Link to comment Share on other sites More sharing options...
Guest Deleted member Posted February 29, 2016 Share Posted February 29, 2016 Don't really know spending £100k is beyond my ken...certainly wouldn't spend it if I thought that DC was going to bail out...everything he's said points to him being here for the long haul There you go then - hence he asked for some guarantees that Chansiri will be here for the duration of his 3 year box tenure Sounds more like a vote of confidence in Chansiri than the way you originally painted it. I'll pay you £100k for a box for 3 years if you commit to being here yourself - if you're not - then I want some kind of a guarantee I will get some money back Link to comment Share on other sites More sharing options...
Bigger Guns Posted February 29, 2016 Share Posted February 29, 2016 Nothing unexpected in these,year end May 2016, will be much more interested. Highlights.....income up (tickets sales and commercial activities) Debtors up by approx £1m (owed to Wednesday). No real breakdown in accounts as to why. All monies owed to previous directors (apart from £3000 mentioned contingent liabilities) now repaid. All First and Second legal charges removed from Hillsborough Stadium. Chansiri put in a £5 loan on day one to help cash flow and ensure payments made when they fell due. No mention of sponsorship monies owed by Mammatov or if we intend to chase this debt. Summary... Much stronger set of accounts, despite still supporting losses (albeit reducing). Net worth of company is healthier, although the true worth is not representative, as they do not take into account Chansiri's full involvement and his substantial backing/ personal worth. I think I'm right in saying mandaric gave Wednesday the mammadov sponsorship money and he himself would take legal action on mammadov to recoup the money Link to comment Share on other sites More sharing options...
Sonny Posted February 29, 2016 Share Posted February 29, 2016 Even if it was possible using three years worth of season ticket money to get one seasons accounts past FFP it would be a dreadful idea. Not much of a long term plan is it. What would we do the year after? Anyway, not happening so yeah. Link to comment Share on other sites More sharing options...
***HIRSTY*** Posted February 29, 2016 Share Posted February 29, 2016 Even if it was possible using three years worth of season ticket money to get one seasons accounts past FFP it would be a dreadful idea. Not much of a long term plan is it. What would we do the year after? Anyway, not happening so yeah. 5 year season tickets... Link to comment Share on other sites More sharing options...
Redfern Froggatt Posted February 29, 2016 Share Posted February 29, 2016 According to my piggy work mate we're back to square one. true - but its a far better position than they are in Link to comment Share on other sites More sharing options...
Guest mkowl Posted February 29, 2016 Share Posted February 29, 2016 Posted a summary on Owlsonline if anyone's interested I would cut and paste but it's a shameless plug for another forum If you ask Sam nicely he may put it up on here Link to comment Share on other sites More sharing options...
Claudio Tankisco Posted February 29, 2016 Share Posted February 29, 2016 Season ticket money won't be held in escrow or client account and if the club went boobies up we'd have to get in line with every other creditor the club owed! As for the income received in advance (three year season ticket sales) this will be treat as accrued income in the balance sheet (or held as an asset) and released in each financial year (reducing the value of the asset in the balance sheet) as appropriate. A simple accounting concept called 'matching' applies where income and expenses must be matched against each other in the financial year to which they relate. Link to comment Share on other sites More sharing options...
Guest mkowl Posted February 29, 2016 Share Posted February 29, 2016 Nearly right - it's deferred income and a liability Link to comment Share on other sites More sharing options...
Claudio Tankisco Posted February 29, 2016 Share Posted February 29, 2016 (edited) Nearly right - it's deferred income and a liabilityFair enough. I stand corrected.Money going in (paid to the club) is a debit and the credit goes to the deferred income in the balance sheet. Facepalm time. Edited February 29, 2016 by Claudio Tankisco Link to comment Share on other sites More sharing options...
HirstWhoScoredIt Posted February 29, 2016 Share Posted February 29, 2016 As far as I am aware large ticket agencies operating in other areas of entertainment must keep their customer funds separated from their own company cashflow and bank accounts. Because Wednesday are now doing the same, by selling season tickets forward, there will be some accountancy requirement for them to do the same. Authorities (taxman etc)must be able to identify who's funds are who.If this was not the case, how would anyone, including the directors themselves, be able to calculate if a company was insolvent or not, if it is depending on its customers advanced sales ?.Because Wednesday's financial Y/E is May, the cashflow advantage comes byway of the fact that all the advanced sales in a year would become available immediately in June, the start of a new financial year.Therefore assisting cashflow when income from matchdays has dried up over the summer.albeit other season ticket sales monies would be coming in.It just brings it forward a few months and obviously, they have the advantage of making sales, even if the teams form declines....god forbid. It's not the same. Large ticket agencies have different clients so keep funds for each client separate. Wednesday don't have different clients. They are selling tickets for Wednesday only. Link to comment Share on other sites More sharing options...
Sam779 Posted February 29, 2016 Author Share Posted February 29, 2016 Posted a summary on Owlsonline if anyone's interested I would cut and paste but it's a shameless plug for another forum If you ask Sam nicely he may put it up on here Ok give you my views after a whizz through the figures The crux is that in terms of the headline figures in MM's last part season in control it was business as usual. We will have to wait until this time next year to get the story on Chansiri and how the world has changed So for that year gate receipts and related turnover were marginally up. Our average revenue per fan still seriously lagging behind other clubs. Our commercial revenue was up nearly a £1m and presumably is related to the Mammadov deal. Now there is quite a big sum of money owing us. That could be either part of the sum owing for Antonio - it is not uncommon for a transfer fee to be spread as payable over a number of years. Or it could be due from Mammadov. Simply no way of knowing. Our costs were remarkably similar, most of it on wages of course. No split on what is players and staff Overall loss is £5m (2014 £5.4m) before player sales. We made a book profit of £1.2m. The accounts show receipts from sales of £1.6m but that we spent £1.7m on players. Not sure who that was We paid a fair chunk of interest 570k on the loans. Leaves a loss of £4.4m compared to £5.5m the year before. Some of that represents technical accounting poo poo - but the simple fact was MM and others were one way or another having to plug that large hole Much more interesting for me is the sale transaction and how it was structured. What can we glean. Before the transaction the total monies that had been paid into the club by MM via UKFI was £18.4m. This had gone up from £17.2m the previous year. So up by £1.2m but 822k had also been converted to shares already. So MM covered 2m of losses which means the rest of the loss was covered by other loans. We knew they existed and were secured against the stadium. The above £18.4m was converted to shares in February 2015. The transaction was that Chansiri personally bought the shares - par value £19.2m - from UKFI. There is no way of telling the sum DC paid from these accounts. What I believe we can tell is that DC invested £8.5m into the Club after this. The accounts show that there is still a shareholder loan of £4.5m but that before the year end £4m of the £8.5m was also converted to shares. I suspect the monies introduced were used to repay the other loans, pay off the bank overdraft as well as funding operations Now it is proclaimed we are debt free. We are if you don't consider the £4.5m a proper debt. There is also reference to a £1.2m loan taken in January 2015 repayable January just gone. The accounts have always been misleading in my view to show loans as an accrual not separate. On the basis it was paid in January 2016 might give a clue why season tickets went on sale when they did. Now one more interesting aside - this is accounts geek stuff is that there is a prior year adjustment of nearly £6m reducing the share premium account - "due to a initial miscalculationion of the purchase price" - which relates to MM I think. Can't work this one out - need to dig out last years accounts to work it out Anyway worked out my last point Dr Share premium account Cr Inter company loan Latter was only £11.2m in the 2014 accounts restated as £17.2m. Weren't quite as debt free on day one when MM took over as we thought ! Link to comment Share on other sites More sharing options...
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