Club accounts

[UIE]

I'm not sure if its been mentioned on here yet, but the club accounts for the year to June 2021 were filed with Companies House on Tuesday. They are available here

[abington2]

Fraid not

[UIE]

Cheers fella, does it work now?

No doubt some of the more financially minded people on here will be able to provide some analysis, but at first glance it supports all the positive noises we've been hearing.

1.8 million cash in the Bank and just over 2 million in loans converted to newly issued shares with another ca. 1 million in paid for new shares

The accounts don't include a P&L but the official site is reporting a loss of £445,000. A remarkable acheivement seeing a this was PEAK Covid. Anyone know how that compares to previous years?

We really have a lot to thank Paul (and Mark and Adam) for.

[squeeze.]

find-and-update.company-information.service.gov.uk/company/00482197

[texaspete]

Mar 10, 2022 10:10:00 GMT UIE said:

The accounts don't include a P&L but the official site is reporting a loss of £445,000. A remarkable acheivement seeing a this was PEAK Covid. Anyone know how that compares to previous years?

We really have a lot to thank Paul (and Mark and Adam) for.

The accounts include a cumulative profit and loss figure on the balance sheet so you can quite easily deduce (stated) annual losses (though more digging into the accounts would be required for interpretation):

30 June 2022: -£5,960,346 (£343K profit)
30 June 2021: -£6,292,894 (£445K loss)
30 June 2020: -£5,847,787 (£346K loss)
30 June 2019: -£5,501,589 (£515K loss)
30 June 2018: -£4,986,833 (£835K loss)
30 June 2017: -£4,152,003 (£929K loss)
30 June 2016: -£3,223,241 (£385K loss)
30 June 2015: -£2,838,034 (£1.3m profit)
30 June 2014: -£4,146,432 (£125K loss)
30 June 2013: -£4,021,681 (£488K loss)
31 May 2012: -£3,533,945 (£518K loss)
31 May 2011: -£3,015,171 (£255K loss)
31 May 2010: -£2,760,466 (£72K profit)
31 May 2009: -£2,832,006 (£85K loss)
31 May 2008: -£2,746,548 (£253K loss)
31 May 2007: -£2,493,136 (£502K loss)
31 May 2006: -£1,990,839 (£267k profit)
31 May 2005: -£2,257,812 (£576K loss)
31 May 2004: -£1,681,859 (£566K loss)
31 May 2003: -£1,115,704 (£699K loss)
31 May 2002: -£416,396 (£323K loss)
31 May 2001: -£93,337 (£274K profit)
31 May 2000: -£367,809

[texaspete]

Another £1,000,000 worth of shares issued.

We’re so lucky our owner genuinely invests via taking equity rather than giving us millions of pounds worth of loans…

[UIE]

I see the club's accounts for the year ending June 2023 have now been published at Companies House:

find-and-update.company-information.service.gov.uk/company/00482197/filing-history

Interestingly they have been audited for the first time (?), is that because now that we have the ground on the books we've crossed some sort of asset threshold and require one? Anyway seems like a sensible step.

And also for the first time (?) they've published an income statement (P&L). Total turnover of 7.1 million, but down from 7.7 million the year before (season 21/22 . It seems like the drop has come from "football" income (perhaps the impact of the cup run in 21/22) as our "business" income is up quite a bit. Wages and salaries (not just players) was 4.4 million up a fair old whack from 3.7 million in 2021/22 (headcount remained stable), with I suppose the January signings for the great escape having an impact and probably more players being on a league 1 vs league 2 salary.


All told, I think as previously publicised by the club, we made a loss of 1.7 mn for 22/23 (compared to a profit of 300k in 21/22) which has basically covered by Paul and his American investors.


Interesting stuff and the greater transparency is definitely a good thing.

[cesarowicz]

Looks like the ground cost £5m. Can’t remember if we knew this.

[El Goodo]

Feb 14, 2024 8:23:22 GMT cesarowicz said:

Looks like the ground cost £5m. Can’t remember if we knew this.

Not sure if it was ever officially "announced" as so but that was definitely the number that was quoted everywhere. I feel like Barry might have said originally that they were investing £5m in buying the ground back.

EDIT: Ah, it came from accounts showing the owners had invested £4.5m for the buyback.

[mike_CUFC]

Feb 14, 2024 8:04:35 GMT UIE said:

I see the club's accounts for the year ending June 2023 have now been published at Companies House:

find-and-update.company-information.service.gov.uk/company/00482197/filing-history

Interestingly they have been audited for the first time (?), is that because now that we have the ground on the books we've crossed some sort of asset threshold and require one? Anyway seems like a sensible step.

And also for the first time (?) they've published an income statement (P&L). Total turnover of 7.1 million, but down from 7.7 million the year before (season 21/22 . It seems like the drop has come from "football" income (perhaps the impact of the cup run in 21/22) as our "business" income is up quite a bit. Wages and salaries (not just players) was 4.4 million up a fair old whack from 3.7 million in 2021/22 (headcount remained stable), with I suppose the January signings for the great escape having an impact and probably more players being on a league 1 vs league 2 salary.


All told, I think as previously publicised by the club, we made a loss of 1.7 mn for 22/23 (compared to a profit of 300k in 21/22) which has basically covered by Paul and his American investors.


Interesting stuff and the greater transparency is definitely a good thing.

Yes correct, previous years we have only met 1 of the 3 audit criteria. With the ground now on the books are assets means we meet 2 out of the 3 and so have had to have an audit. More transparency for us when analysing the accounts now.

With the ground repurchased that will reduce costs for next year with no rental costs now. I see an investment property is also now on the books, is that the bungalow next to the ground do we know?

The business income is a very promising sign, this is the easiest bit to try and grow for the club. And with the ground redevelopment this should only grow further in the future.

Whilst the losses are quite large, they were clearly expected and have been funded with a healthy cash balance still as well. Will be interesting to see figures for 2023/24 with the increased attendances and match day revenues with all the new bar areas etc.

Only a small loan owed to Paul, wonder if that will get converted at some point into shares as well.

[nutsaboutamber]

Could we thus invest in more black socks going forward as, after all, they are our prescribed primary kit this season? In the absence of an 'away' kit which clearly refs, the EFL and the club alike are as offended by as I am!

[texaspete]

The addition of the income account is a good one but doesn’t make for happy reading: £600K (8%) fall in income, £1,475K (20%) increase in costs. £1,067K (19%) fall in football income, presumably due to our cup run in 2021/22 netting that much though higher business income is a positive. Wage bill up by £685K or 19%.

An addition to my post above:

30 June 2023: -£7,707,501 (£1,747K loss)
30 June 2022: -£5,960,346 (£343K profit)
30 June 2021: -£6,292,894 (£445K loss)
30 June 2020: -£5,847,787 (£346K loss)
30 June 2019: -£5,501,589 (£515K loss)
30 June 2018: -£4,986,833 (£835K loss)
30 June 2017: -£4,152,003 (£929K loss)
30 June 2016: -£3,223,241 (£385K loss)
30 June 2015: -£2,838,034 (£1.308K profit)
30 June 2014: -£4,146,432 (£125K loss)
30 June 2013: -£4,021,681 (£488K loss)
31 May 2012: -£3,533,945 (£518K loss)
31 May 2011: -£3,015,171 (£255K loss)
31 May 2010: -£2,760,466 (£72K profit)
31 May 2009: -£2,832,006 (£85K loss)
31 May 2008: -£2,746,548 (£253K loss)
31 May 2007: -£2,493,136 (£502K loss)
31 May 2006: -£1,990,839 (£267k profit)
31 May 2005: -£2,257,812 (£576K loss)
31 May 2004: -£1,681,859 (£566K loss)
31 May 2003: -£1,115,704 (£699K loss)
31 May 2002: -£416,396 (£323K loss)
31 May 2001: -£93,337 (£274K profit)
31 May 2000: -£367,809

[Lurid]

Feb 14, 2024 14:24:37 GMT nutsaboutamber said:

Could we thus invest in more black socks going forward as, after all, they are our prescribed primary kit this season? In the absence of an 'away' kit which clearly refs, the EFL and the club alike are as offended by as I am!

Account for this tread derail.