Latest accounts
Sun Oct 23, 2011 8:44 pm
does anyone know when they are due and what time period they will cover? could be an interesting read!
Re: Latest accounts
Sun Oct 23, 2011 8:50 pm
ccfclover wrote:does anyone know when they are due and what time period they will cover? could be an interesting read!
Not legally due until next Spring , and will cover the year to 31 May 2011.
However , at the recent EGM , Doug Lee the finance director intimated they may be published before the end of Dec 2011. He also said they would show the club made a further substantial trading loss for the period.
Re: Latest accounts
Sun Oct 23, 2011 9:03 pm
cheers Keith! appreciate your response, any idea as to what they will look like? in regards to the balance sheet etc. would they state exactly what debt has been added in the form of loans and what debt has been converted to shares?
Re: Latest accounts
Mon Oct 24, 2011 8:22 am
ccfclover wrote:cheers Keith! appreciate your response, any idea as to what they will look like? in regards to the balance sheet etc. would they state exactly what debt has been added in the form of loans and what debt has been converted to shares?
Impossible to say what the overall balance sheet will look like until its published.
But the profit and loss account will show a big loss - the FD said so - simply because the club still had too much expenditure and not enough income for that year as a whole.There has clearly been a big effort to improve income judging by the number of days a year the stadium is now used for non-football events , as well as a big push to cut down on unnecessary expenditure (which we had loads of during the Ridsdale era). This should reduce the loss for the current season , but I wouldn`t be surprised to still see a loss for 2011/12 as most clubs at our level make losses (before player sale profits).
As well as financial good sense , one of the driving forces behind these efforts to get the trading in order is that Championship clubs agreed this Summer that they will trade within their means (i.e. expenditure must be limited to income) from next season onwards. Failure to do so will result in financial and possible points deduction penalties.
Re: Latest accounts
Mon Oct 24, 2011 3:27 pm
since62 wrote:ccfclover wrote:does anyone know when they are due and what time period they will cover? could be an interesting read!
Not legally due until next Spring , and will cover the year to 31 May 2011.
However , at the recent EGM , Doug Lee the finance director intimated they may be published before the end of Dec 2011. He also said they would show the club made a further substantial trading loss for the period.
Cheers, should be an interesting read Keith.
