SWFC Accounts Published

[Greengrass]

1 hour ago, mrgund said:

What do all the numbers mean?

 

Said the accountants.

[jp1981]

1 minute ago, @owlstalk said:

 

Isn't it fascinating how losing eye watering amounts of money on a yearly basis has now become normalised to the point where we don't even really see/feel it anymore?

It's just 'meh' 

 

I wonder if the account from our first season in League 1 will be better. Hopefully now a lot of the high earners are off the wage bill, we will be in a better position and a huge chunk of the losses will be eradicated.

[Utah Owl]

1 hour ago, BIG D said:

Christ. I was watching a tent go up and down the pitch for a month when the Desso went down. 

Reminds me of when the Kop roof went on 35 years ago. Used to go down two or three times a week just to watch at lunchtime!

[fatzooma]

3 hours ago, @owlstalk said:

The company uses a number of key performance indicators to measure its performance. Turnover fell by £1.9m to £20.9m (£22.8m 2019) primarily due to the loss of five home games being played behind closed doors, due to the Covid 19 pandemic, to complete the 19/20 season .

 

Average league attendance fell by almost 3% to 23,752 for the 18 League games held prior to lockdown as compared with 24,426 in the previous season. The team finished 16th in the Football League Championship (12th 2019).

FFS...Can’t you just say KPI’s

[Dizzys Dad]

22 minutes ago, @owlstalk said:

All you need to know in plain easy to understand English - https://www.thestar.co.uk/sport/football/sheffield-wednesday/wages-ffp-furlough-and-a-ps25m-rent-sheffield-wednesdays-201920-accounts-explained-in-plain-english-3298746

 

Perfect. Thanks. 

[marshy]

11 minutes ago, @owlstalk said:

 

Isn't it fascinating how losing eye watering amounts of money on a yearly basis has now become normalised to the point where we don't even really see/feel it anymore?

It's just 'meh' 

 

It is, and all in search of that golden egg called the Premier league.

[morley]

1 hour ago, the third man said:

 

How many football clubs make a profit, and are not reliant on the owners to put money in? 

Fair comment but how many of those clubs that are in the football league have lost £98m over the last four years?

 

Still, we're lucky that we have the well balanced and experienced Mr Chansiri in control otherwise we could be in real bother.

[Rogers]

3 hours ago, William 1867 said:

24 million loss I think it says.

Any other business would close down with this sustained poor financial (and product) performance. 

[Rogers]

18 minutes ago, jp1981 said:

I wonder if the account from our first season in League 1 will be better. Hopefully now a lot of the high earners are off the wage bill, we will be in a better position and a huge chunk of the losses will be eradicated.

But less TV money? 
 

Sponsorship should be the same, zero, all made up 

[Rogers]

30 minutes ago, room0035 said:

So in the club history in 4 of the 6 years (without stadium sale in one) DC has been in charge, we have record our 4 biggest losses out of 150+ years of trade.

 

I think anyone body could have done a better job running the club, the only saving grace is he continues to pay for his massive mismanagement of the football club.

Him Paying for  things has ground to a halt, surely it makes sense for him to accept any money and get out 

[swfcGibbo]

2 minutes ago, Rogers said:

Him Paying for  things has ground to a halt, surely it makes sense for him to accept any money and get out 

He's deluded as f*ck is Chansiri. Nobody is going to pay him the amount he expects. Lives in the clouds.

[@owlstalk]

26 minutes ago, jp1981 said:

I wonder if the account from our first season in League 1 will be better. Hopefully now a lot of the high earners are off the wage bill, we will be in a better position and a huge chunk of the losses will be eradicated.

 

Yeah that's what I'm hoping and praying for

Wouldn't it be great to just have a few years of no shocks or bad surprises

[King_Monkey]

11 minutes ago, @owlstalk said:

 

Yeah that's what I'm hoping and praying for

Wouldn't it be great to just have a few years of no shocks or bad surprises

No chance of that under DC

[Kevan]

What i find difficult to understand in the balance sheet, is the Debtors figure (i.e. money owed to the club / company) is shown at £45.82 million.  Bearing in mind that all / most of the matchday or season ticket sales are made by debit or credit card - who is it that owes that money to the club??

 

More worrying is also the Current creditors (money owed by the club and payable within 12 months) of £27.5 Million and longer term (due in more than 12 months) creditors of £59.546 Million.

 

It looks a real mess and not one that we will see sorted out in the near or even medium term future.

[pioowl]

2 hours ago, Maddogbob said:

If they are that "healthy" why the delay. Or have I got my tinfoil hat on here?

So they look healthier

[yeadonowl]

1 minute ago, Kevan said:

What i find difficult to understand in the balance sheet, is the Debtors figure (i.e. money owed to the club / company) is shown at £45.82 million.  Bearing in mind that all / most of the matchday or season ticket sales are made by debit or credit card - who is it that owes that money to the club??

 

More worrying is also the Current creditors (money owed by the club and payable within 12 months) of £27.5 Million and longer term (due in more than 12 months) creditors of £59.546 Million.

 

It looks a real mess and not one that we will see sorted out in the near or even medium term future.

I was presuming the debtor figure was the figure owed to swfc by Sheffield 3 for the stadium

[Manwë]

1 minute ago, Kevan said:

What i find difficult to understand in the balance sheet, is the Debtors figure (i.e. money owed to the club / company) is shown at £45.82 million.  Bearing in mind that all / most of the matchday or season ticket sales are made by debit or credit card - who is it that owes that money to the club??

 

More worrying is also the Current creditors (money owed by the club and payable within 12 months) of £27.5 Million and longer term (due in more than 12 months) creditors of £59.546 Million.

 

It looks a real mess and not one that we will see sorted out in the near or even medium term future.

It's probably the £60m for Hillsborough, this is going to be paid over 7 years IIRC

[Dr. Funkenstein]

3 hours ago, room0035 said:

Turnover down £2m because of 5 fewer home games, wages down £2.8m even though Abdi, Boyd, Hooper, Matias, Jones, Pudil, Murphy, bates, Da Cruz and Wickham plus a few lesser players probably saving the club 8-10m a season in wages. Yet wages have barely dropped?

 

£6m of player registration released. £2.7m has been paid to players in loyalty bonuses. For me a complete farce. We are paying players to stay to the bitter end we wonder why we had players sat in the stand never playing in Boyd, Jones, Abdi. They were getting loyalty payments for it.

 

The worrying thing for me is not the massive losses i was expecting around the £20m mark.  But the £7.5m payment for the stadium has been used to reduce DC loan account. When the club is needing financial support DC has taken out of the club £7,265,000.

 

There is £1.5m in income from DC from presumably his name on everything but £3.2m in costs the rent is £1.5m so what is the other £1.7m costs for?

 

Also Prepayment and deferred income should include all the early bird season ticket money for the following season but its dropped from £8.6m to £0.6m which suggest either no one purchased a season ticket or the income got released but against the wrong years accounts. But without knowing the breakdown of this we dont know how much the losses of £24m would have been.

 

Also final there is no change in the 2019 figures even though the excuse used for the hold up was the ground sale but nothing changed which suggest that was a bit of a smoke screen.

Good post on some of the detail. I think the bit about how early bird season tickets were treated is really important - was that money just treated as in year income instead of a prepayment? And will any accountant sign the 20/21 ST income off as straight income (in whatever year it is posted), with none of it at risk from legal challenge? Given the amount of folk still wanting that money back, and some who are taking the legal route, surely some of us should be treated as creditors (i.e people who are owed money)?

[wellbeaten-the-owl]

Interesting that DC didn't actually put much cash into the club in the year.

 

Club had a cashflow deficit from day to day costs of £9.9m funded by ££5.3m net Proceeds from player trading and £3.5m proceeds from a new loan which DC and Sheffield 3 limited are guarantors for.

[Maddogbob]

19 minutes ago, pioowl said:

So they look healthier

Passable is more what I mean.