6.7 million profit

[Deathy]

Had the accounts through today and 6.7 million was this years profit!
Where has it all gone?

Nowhere ?

It's in the accounts isn't it ?

Yes, for art and stuff like that. Not players.

[Ian Royal]

I never thought I'd say this, but I'm with Spacey and Rother. HMan is extracting the urine.

Be interested to see a bit more detail on this? presumably it's the profit for our second year in the prem...

Looks about right, increased TV money, but decreased rize money and higher wages. I'd like to know if this is profit over and above money going into the loans, I presume it covers the required payments, but not necessarily payments made over and above what's required to excellerate getting rid of them.

Presumably it won't include transfers in or out since last season either...

[Royal Rother]

Loan payments do not reduce profit.

Loan payments / reduction in other liabilities might have been enabled as a result of making a profit of £6.7m.

[westendgirl]

I never thought I'd say this, but I'm with Spacey and Rother. HMan is extracting the urine.

Be interested to see a bit more detail on this? presumably it's the profit for our second year in the prem...

Looks about right, increased TV money, but decreased rize money and higher wages. I'd like to know if this is profit over and above money going into the loans, I presume it covers the required payments, but not necessarily payments made over and above what's required to excellerate getting rid of them.

Presumably it won't include transfers in or out since last season either...

Fairly sure the year end is 30 June so no post prem transfers.

As mentioned in the VAT thread I am an accountant and although as a breed we are not welcomed I am happy to give some details of the accounts when I see them. The idea that the profit has all gone on art and JM is probably prejudice as previous years it has not and there is a loss brought forward of over 20million so this still does not make the club solvent without the money loaned to it in the past. On top of which in the current climate the banks have wanted to see their exposure reduced at a club with a smaller guaranteed income from TV, so I would bet the money has gone to the banks before anyone else - but that is an educated guess and I hope to see more sometime soon.

[Rev Algenon Stickleback H]

I never thought I'd say this, but I'm with Spacey and Rother. HMan is extracting the urine.

Be interested to see a bit more detail on this? presumably it's the profit for our second year in the prem...

Looks about right, increased TV money, but decreased rize money and higher wages. I'd like to know if this is profit over and above money going into the loans, I presume it covers the required payments, but not necessarily payments made over and above what's required to excellerate getting rid of them.

Presumably it won't include transfers in or out since last season either...

Fairly sure the year end is 30 June so no post prem transfers.

As mentioned in the VAT thread I am an accountant and although as a breed we are not welcomed I am happy to give some details of the accounts when I see them. The idea that the profit has all gone on art and JM is probably prejudice as previous years it has not and there is a loss brought forward of over 20million so this still does not make the club solvent without the money loaned to it in the past. On top of which in the current climate the banks have wanted to see their exposure reduced at a club with a smaller guaranteed income from TV, so I would bet the money has gone to the banks before anyone else - but that is an educated guess and I hope to see more sometime soon.

Aren't our loans to Madejski rather than banks?

[Dirk Gently]

I never thought I'd say this, but I'm with Spacey and Rother. HMan is extracting the urine.

Be interested to see a bit more detail on this? presumably it's the profit for our second year in the prem...

Looks about right, increased TV money, but decreased rize money and higher wages. I'd like to know if this is profit over and above money going into the loans, I presume it covers the required payments, but not necessarily payments made over and above what's required to excellerate getting rid of them.

Presumably it won't include transfers in or out since last season either...

Fairly sure the year end is 30 June so no post prem transfers.

As mentioned in the VAT thread I am an accountant and although as a breed we are not welcomed I am happy to give some details of the accounts when I see them. The idea that the profit has all gone on art and JM is probably prejudice as previous years it has not and there is a loss brought forward of over 20million so this still does not make the club solvent without the money loaned to it in the past. On top of which in the current climate the banks have wanted to see their exposure reduced at a club with a smaller guaranteed income from TV, so I would bet the money has gone to the banks before anyone else - but that is an educated guess and I hope to see more sometime soon.

Aren't our loans to Madejski rather than banks?

Mainly but not exclusively. While JM is worth so many millions, he doesn't always have that money sitting in a bank account - it's frequently mostly tied up in property or his other ventures, and so there are many occasions when going to the bank will have been utilised. It's not so much about book assets, and more about liquidity.

[PieEater]

IIRC there was a £4.5m bank loan that we paid a large chunk off last season. The majority of old debt is to his Madj, or at least the holding company that he owns. The operating cash comes from bank loans, as part of the boards wish to be self financing without his Madj bailing them out each year.

[brendywendy]

I never thought I'd say this, but I'm with Spacey and Rother. HMan is extracting the urine.

Be interested to see a bit more detail on this? presumably it's the profit for our second year in the prem...

Looks about right, increased TV money, but decreased rize money and higher wages. I'd like to know if this is profit over and above money going into the loans, I presume it covers the required payments, but not necessarily payments made over and above what's required to excellerate getting rid of them.

Presumably it won't include transfers in or out since last season either...

only a month or so ago, there were statements from the club categorically denying that any loan had been repayed to mr mad.whiich i assume includes last years books.
only the one the banks demanded.(7m?)

the money he spends on art is his, earned through ard work and good bsuiness, i can understand you wishing he would spend it on us instead, but its really his perogative, and nowt to do with us or the club.
not even sure any further rebuttal is warranted given the bucket loads of shite already written and rebuffed on here

[Royal Rother]

I prefer debunked.

[mini _dariusz]

I never thought I'd say this, but I'm with Spacey and Rother. HMan is extracting the urine.

Be interested to see a bit more detail on this? presumably it's the profit for our second year in the prem...

Looks about right, increased TV money, but decreased rize money and higher wages. I'd like to know if this is profit over and above money going into the loans, I presume it covers the required payments, but not necessarily payments made over and above what's required to excellerate getting rid of them.

Presumably it won't include transfers in or out since last season either...

Fairly sure the year end is 30 June so no post prem transfers.

As mentioned in the VAT thread I am an accountant and although as a breed we are not welcomed I am happy to give some details of the accounts when I see them. The idea that the profit has all gone on art and JM is probably prejudice as previous years it has not and there is a loss brought forward of over 20million so this still does not make the club solvent without the money loaned to it in the past. On top of which in the current climate the banks have wanted to see their exposure reduced at a club with a smaller guaranteed income from TV, so I would bet the money has gone to the banks before anyone else - but that is an educated guess and I hope to see more sometime soon.

I'm an accountant too, yet it doesn't take me, you, comonurz, Forbes, Rother or any other dick to realise that you reading fans are getting mugged off.

That's the only conclusion you lot need to know.

[Royal Rother]

I'm an accountant too

There is no emoticon that does justice to this.

[mini _dariusz]

I'm an accountant too

There is no emoticon that does justice to this.

Care to explain yourself dear ?

[JC]

I now have a set of the accounts and can answer some of the questions.
Salient points (all figures to nearest £1 million), and these figures include the hotel.

Turnover 58 (2007 50)
Expenditure 51 (2007 43)
Profit 7 (2007 7 ish)

Analysis of expediture

Wages 33 (2007 30)
Depreciation 7 (2007 3)
Other charges 11 (2007 9)

The cashflow movements are interesting
In a nutshell the cash inflow was about 7 million and there was 14 million in capital expenditure. Of this they spent nearly 10 million on players and recouped about 3 million. There was expenditure on tangible fixed assets (mainly land and buildings) of 7 million.
The above reflects on the balance sheet where the significant change is that there is now a bank loan or overdraft of 7 million which was not there before, The amount owing in the accounts to JM has remained the same at just under 26 million, 9 million of which is football related and 17 million relates to the hotel.
The final interesting note is that after these accountswere prepared 556,000 was spent on playesrs and 10 million received in transfer fees.
I will let someone else work out the transfer fees in and out.

What this does all show is that JM did not take a penny out of the business last year.

[Spotters Badge]

What were the Director's emoluments?

[Royal Rother]

Bog all.

[JC]

What were the Director's emoluments?

As suggested above nothing.

You may be interested in a breakdown of the staff numbers

2008 2007

Players 42 35
Management/Coaching 57 52
Admin staff 96 102
Hotel 71 68
Trainees 20 24
Matchday staff 217 163

Total 503 444



Sorry I cannot get those numbers to format

[Ian Royal]

Interesting.

Ta.

Of course facts and figures won't stop morons claiming all the money is being stolen and spent on Cilla.

[Schards#2]

The hotel appears to be the greater priority

[Silver Fox]

How so?

[Schards#2]

Large amounts of money invested into it.

Why is this included in the accounts? I shouldn't give a toss whether a hotel does well or not but now it appears to impact on the fortunes of the football club I support.