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87M Loss
Mar 31, 2021 19:17:17 GMT
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Post by This is the year on Mar 31, 2021 19:17:17 GMT
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Post by bayernoatcake on Mar 31, 2021 19:20:33 GMT
Pittance  |
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87M Loss
Mar 31, 2021 19:23:32 GMT
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Post by This is the year on Mar 31, 2021 19:23:32 GMT
Pittance That really is a worrying figure ! |
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87M Loss
Mar 31, 2021 19:27:07 GMT
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Post by bayernoatcake on Mar 31, 2021 19:27:07 GMT
Pittance That really is a worrying figure ! It is but I think they’ve been creative with it from reading this? |
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Post by LH_SCFC on Mar 31, 2021 19:27:29 GMT
The devil will be in the detail (accounts aren’t available on Companies House yet so I assume Pete has had sight of a final copy on their way to Cardiff) but it looks like we’ve taken the “opportunity” to accelerate some player amortisation owing to the Covid hit transfer market and knock on effect on player values. It would in effect make out future write downs less dramatic and thus an easier three year rolling loss for FFP.
Although the accounts will only be up to 31 March 2020, so it’s very opportunistic, if accurate.
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Post by mickstupp on Mar 31, 2021 19:30:07 GMT
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Post by marylandstoke on Mar 31, 2021 19:34:49 GMT
The devil will be in the detail (accounts aren’t available on Companies House yet so I assume Pete has had sight of a final copy on their way to Cardiff) but it looks like we’ve taken the “opportunity” to accelerate some player amortisation owing to the Covid hit transfer market and knock on effect on player values. It would in effect make out future write downs less dramatic and thus an easier three year rolling loss for FFP. Although the accounts will only be up to 31 March 2020, so it’s very opportunistic, if accurate. COVID is a Stokie? |
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Post by kentpotter on Mar 31, 2021 19:38:42 GMT
Meanwhile, the Daily Mail reports that Denise Coates has received a 45% pay rise, trousering £469 million per annum 😳😳😳
Good on her, she pays full tax, invests in the community, and might chuck a few quid our way?
Not bad for a business contrived from a portacabin in a S-o-T carpark 😆😆😆
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Post by scfcno1fan on Mar 31, 2021 19:40:29 GMT
A tonne of impairment reviews.
Smart.
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Post by chiswickpotter on Mar 31, 2021 20:33:13 GMT
Could be really good news. If we are allowed to avoid FFP penalties then we mustbhsve pretty much written off most of the accounting value of our squad. We need to see the detail but it should make it much easier to move players on over the summer
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Post by followyoudown on Mar 31, 2021 20:37:06 GMT
The devil will be in the detail (accounts aren’t available on Companies House yet so I assume Pete has had sight of a final copy on their way to Cardiff) but it looks like we’ve taken the “opportunity” to accelerate some player amortisation owing to the Covid hit transfer market and knock on effect on player values. It would in effect make out future write downs less dramatic and thus an easier three year rolling loss for FFP. Although the accounts will only be up to 31 March 2020, so it’s very opportunistic, if accurate. I'd say it was accurate and reporting a loss that big in 1 year would breach the 3/4 year FFP limit on its own so you'd imagine as well as the auditors signing it off the EFL must have ok'd it too guess we will find out soonish  |
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Post by chiswickpotter on Mar 31, 2021 20:42:10 GMT
The devil will be in the detail (accounts aren’t available on Companies House yet so I assume Pete has had sight of a final copy on their way to Cardiff) but it looks like we’ve taken the “opportunity” to accelerate some player amortisation owing to the Covid hit transfer market and knock on effect on player values. It would in effect make out future write downs less dramatic and thus an easier three year rolling loss for FFP. Although the accounts will only be up to 31 March 2020, so it’s very opportunistic, if accurate. I think the football club accounts will be up to 31st May 2020 based on usual practice but even then still sounds aggressive |
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87M Loss
Mar 31, 2021 20:52:08 GMT
via mobile
Post by LH_SCFC on Mar 31, 2021 20:52:08 GMT
The devil will be in the detail (accounts aren’t available on Companies House yet so I assume Pete has had sight of a final copy on their way to Cardiff) but it looks like we’ve taken the “opportunity” to accelerate some player amortisation owing to the Covid hit transfer market and knock on effect on player values. It would in effect make out future write downs less dramatic and thus an easier three year rolling loss for FFP. Although the accounts will only be up to 31 March 2020, so it’s very opportunistic, if accurate. I think the football club accounts will be up to 31st May 2020 based on usual practice but even then still sounds aggressive Ah yes, was looking at the Group year end. |
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87M Loss
Mar 31, 2021 20:54:17 GMT
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Post by followyoudown on Mar 31, 2021 20:54:17 GMT
The devil will be in the detail (accounts aren’t available on Companies House yet so I assume Pete has had sight of a final copy on their way to Cardiff) but it looks like we’ve taken the “opportunity” to accelerate some player amortisation owing to the Covid hit transfer market and knock on effect on player values. It would in effect make out future write downs less dramatic and thus an easier three year rolling loss for FFP. Although the accounts will only be up to 31 March 2020, so it’s very opportunistic, if accurate. I think the football club accounts will be up to 31st May 2020 based on usual practice but even then still sounds aggressive Pandemic had started by 31 march may as well take the corporation tax deduction in the group accounts for 20 as 21 still lost £43m on shit players but potentially reduce tax payable by £8m+ a year earlier. |
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Post by lordherefordsknob on Mar 31, 2021 20:58:51 GMT
Meanwhile, the Daily Mail reports that Denise Coates has received a 45% pay rise, trousering £469 million per annum 😳😳😳 Good on her, she pays full tax, invests in the community, and might chuck a few quid our way? Not bad for a business contrived from a portacabin in a S-o-T carpark 😆😆😆 I’ve also seen reported no redundancies or haven’t used the furlough scheme either over the last 12 months👏. |
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Post by theoptimist on Mar 31, 2021 21:01:22 GMT
Meanwhile, the Daily Mail reports that Denise Coates has received a 45% pay rise, trousering £469 million per annum 😳😳😳 Good on her, she pays full tax, invests in the community, and might chuck a few quid our way? Not bad for a business contrived from a portacabin in a S-o-T carpark 😆😆😆 I’ve also seen reported no redundancies or haven’t used the furlough scheme either over the last 12 months👏. bet they've taken a fair chunk of furlough via the punters though! |
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Post by andystokey on Mar 31, 2021 21:04:51 GMT
That really is a worrying figure ! It is but I think they’ve been creative with it from reading this? It's a brilliant bit of accounting if it passes P&S. It's exactly what I was hoping for if all those fees have been downgraded. |
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87M Loss
Mar 31, 2021 21:07:18 GMT
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Post by bayernoatcake on Mar 31, 2021 21:07:18 GMT
It is but I think they’ve been creative with it from reading this? It's a brilliant bit of accounting if it passes P&S. It's exactly what I was hoping for if all those fees have been downgraded. It reads that way. I have no idea what it all means and don’t understand how it works but it sounds positive for sure. |
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Post by andystokey on Mar 31, 2021 21:13:11 GMT
It's a brilliant bit of accounting if it passes P&S. It's exactly what I was hoping for if all those fees have been downgraded. It reads that way. I have no idea what it all means and don’t understand how it works but it sounds positive for sure. I'm hoping in simplistic terms the £43M will be written off the player values, Wimmer, Benik at al. and most of it blamed on Covid losses so that its discounted by the EFL. I can't believe that we downgraded an additional £43M on top of the usual amortized amount without being pretty sure the EFL were going to suck it up. If that's what has happened then we have a transfer kitty this summer. |
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Post by boskampsflaps on Mar 31, 2021 21:14:24 GMT
Well played Scholes.
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87M Loss
Mar 31, 2021 21:30:03 GMT
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Post by alsagerstokie on Mar 31, 2021 21:30:03 GMT
Im off topic but 10 minutes from where i live in Alsager. If anyome knows a place called Hassall Green. Has anyone seen Denise new complex being built. I walk past it most nights. Jeez its fucking huge.
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87M Loss
Mar 31, 2021 21:35:01 GMT
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Post by apb1 on Mar 31, 2021 21:35:01 GMT
She’s paid herself over £400m last year according to the Telegraph
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87M Loss
Mar 31, 2021 21:51:22 GMT
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Post by lordb on Mar 31, 2021 21:51:22 GMT
He's an accountant, this is what he's good at Just keep him away from the other stuff! |
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87M Loss
Mar 31, 2021 21:55:25 GMT
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Post by gingerninja on Mar 31, 2021 21:55:25 GMT
Does this give us anymore wriggle room in the summer transfer window.
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87M Loss
Mar 31, 2021 22:04:25 GMT
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Post by crowey on Mar 31, 2021 22:04:25 GMT
.... I say bring in Denise, she will save us
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Post by boskampsflaps on Mar 31, 2021 22:09:33 GMT
He's an accountant, this is what he's good at Just keep him away from the other stuff! So a nice big pat on the back for Scholes it is  |
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Post by Gods on Mar 31, 2021 22:19:43 GMT
Anyone remember Peter Coates Project 'Break Even' mid-term in our Premier league tenure?
It has been replaced by Project 'Go bust'.
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Post by theoptimist on Mar 31, 2021 22:26:40 GMT
Anyone remember Peter Coates Project 'Break Even' mid-term in our Premier league tenure? It has been replaced by Project 'Go bust'. Yep. Effectively espousing the FFP message. Now its all blown up in his, junior and Scholes face - all of a sudden FFP is a bad thing for football. Took him a while to come round. Pity its acompanied our demise.
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Post by wuzza on Mar 31, 2021 22:33:26 GMT
Accountancy is a mysterious and wonderful thing - we will be fine.
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87M Loss
Mar 31, 2021 22:34:15 GMT
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Post by bayernoatcake on Mar 31, 2021 22:34:15 GMT
Im off topic but 10 minutes from where i live in Alsager. If anyome knows a place called Hassall Green. Has anyone seen Denise new complex being built. I walk past it most nights. Jeez its fucking huge. Whereabouts is it? May go for a walk that way and nose 😂 |
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