Reading FC (Holdings) accounts 2014/15

[Royals and Racers]

The year end accounts(30th June) were filed yesterday. Also reading FC yesterday on their company listing registered a "registration of a charge".
Any accountants out there who could give some details ?

[tidus_mi2]

I just had a look at the accounts, what's with the 23m profit on disposal of discontinued activities? Where did we cut £23m of activities?

[Sutekh]

I just had a look at the accounts, what's with the 23m profit on disposal of discontinued activities? Where did we cut £23m of activities?

Sold the Pog?

[Vision]

Stopped running a viable football club?

[tidus_mi2]

I went over it again and read the opening statement that I tl;dr earlier and this is the part where they explain the 23m.

[Sutekh]

Can anyone give a link to the accounts?

[tidus_mi2]

free to download here: https://companycheck.co.uk/company/0388 ... house-docs

[Nameless]

I haven't got a clue as to the complex web of companies that now exist around RFC and associated entities.
IIRC STAR usually get a member to do a very handy and user friendly analysis of the accounts, I hope they are able to do this again and maybe explain which companies we actually need to take an interest in and which are defunct or irrelevant !

[3points]

I haven't looked at the accounts yet. I will in the next few days. The profit on discontinued operations will be the hotel which I believe was sold separately from the football club, so SJM has made a bit of money back out of this. Once I've been through the accounts I should be able to provide a bit more insight.

[loyalroyaldaz]

I haven't looked at the accounts yet. I will in the next few days. The profit on discontinued operations will be the hotel which I believe was sold separately from the football club, so SJM has made a bit of money back out of this. Once I've been through the accounts I should be able to provide a bit more insight.

Now there's a suprise !

[Nameless]

I think more than ever we need to be cautious drawing conclusions from accounts without a bit of professional interpretation.
Obviously I want to know 'where's the money gone', but how easy it will be to work that out with even more layers of ownership spread across a number of countries I'm not sure.
Good luck 3points !

[ZacNaloen]

Presumably all the land around the stadium, including the car park has been "Sold" in this window as well to account for Royal Elm Park.

[Yellowcoat]

The accounts are for the closure of the old holding company and are no indication of the current set up. I made the mistake of looking at them via the link above and have now had thirteen copies of them! Utter shambles. Beware anyone else who uses the link.
There are still inherent losses in the old company not the profit for SJM that some allude to.

[Nameless]

Presumably all the land around the stadium, including the car park has been "Sold" in this window as well to account for Royal Elm Park.

I would think this has happened in the current financial year, not the one the accounts are for.
And whether RFC (Holdings) is/was involved I have no idea !

[Tony Le Mesmer]

I haven't looked at the accounts yet. I will in the next few days. The profit on discontinued operations will be the hotel which I believe was sold separately from the football club, so SJM has made a bit of money back out of this. Once I've been through the accounts I should be able to provide a bit more insight.

Now there's a suprise !

Good on him if so, he deserves something back.

Were you complaining when he picked the club off its knees, bank rolled 15 years of losses to get us to the PL and put up a £30m guarantee for a new stadium?

[loyalroyaldaz]

No. But i was when he loaned a Football Club loads of money, bought a huge lump of land for a quid, built a stadium on it, all on loans that he took back albeit with minimal interest. And im still there buying my season tickets like i have for the past 17 years whilst witnessing some of the dross we have put up with for the last two or three years whilst selling some of our better players and replacing with loans, frees, old, rubbish and sometimes all of those players.

We move on

[multisync1830]

No. But i was when he loaned a Football Club loads of money, bought a huge lump of land for a quid, built a stadium on it, all on loans that he took back albeit with minimal interest. And im still there buying my season tickets like i have for the past 17 years whilst witnessing some of the dross we have put up with for the last two or three years whilst selling some of our better players and replacing with loans, frees, old, rubbish and sometimes all of those players.

We move on

and got promoted twice etc etc

All in all he still lost on the deal but I guess some move on slower than others of course....

[Ian Royal]

No. But i was when he loaned a Football Club loads of money, bought a huge lump of land for a quid, built a stadium on it, all on loans that he took back albeit with minimal interest. And im still there buying my season tickets like i have for the past 17 years whilst witnessing some of the dross we have put up with for the last two or three years whilst selling some of our better players and replacing with loans, frees, old, rubbish and sometimes all of those players.

We move on

Virtually no one just gives money to football clubs. It's always loans to get repaid. It's a business, not a charity set up for your entertainment.

For all the money he put in to the club, he could have just stuck it in investment portfolios and made loads more, instead of losing it for 20 years and gaining piss all interest.

[loyalroyaldaz]

We all have our own views and that's that. Ian makes a point but do not lose sight of the fact the The Man was a virtual unknown previous to his involvement and rose to the dizzy heights of being knighted. Dont tell me he didnt gain financially in other ways other than the football club but more by virtue of his increasing status, networking etc.
Im not saying he should of given the money instead of loan it but those are the facts. His vast financial losses were in the main on other failing businesses due to downturn in construction.

Some of you worship the ground he walks upon and he loves your adulation showing him as the messiah when he strolls onto the pitch, only when its on Telly though, some of us dont and some probably give a toss.

Thats football eh?
A game of opinions.


Oh and we dont all have to share the same one as the Self Righteous on here.

[multisync1830]

We all have our own views and that's that. Ian makes a point but do not lose sight of the fact the The Man was a virtual unknown previous to his involvement and rose to the dizzy heights of being knighted. Dont tell me he didnt gain financially in other ways other than the football club but more by virtue of his increasing status, networking etc.
Im not saying he should of given the money instead of loan it but those are the facts. His vast financial losses were in the main on other failing businesses due to downturn in construction.

Some of you worship the ground he walks upon and he loves your adulation showing him as the messiah when he strolls onto the pitch, only when its on Telly though, some of us dont and some probably give a toss.

Thats football eh?
A game of opinions.


Oh and we dont all have to share the same one as the Self Righteous on here.

you're getting a bit mixed, SJM likes to be called Chairman as in Chairman of RFC (he's not now we know) because he's more proud of that than ever being called Sir John. (which was given to him as a reward to charity and Support of the conservatives but not for his work for RFC.) When he bought the club he was a very rich and successful man so it wasn't the other way round. Owning a provincial second division mid table football club playing in a run down ramshackle ground is hardly the dream of a raving egomaniac. It was his idea to give back to the town of Reading a stadium ranked as one of the best in the UK. So whilst he may have bought the land for a quid, the rest cost real money and had to be underwritten by him at his risk. Of course all big businessmen have rampant ego or they'd go to the beach on getting their first million. The naming of the stadium was his personal reward for his efforts. Fair do or too much?

He still lives on site despite owning several houses as he loves being around there. It's not about hero worshipping rather we're just a bit less ungrateful and churlish than others