inland revenue

[Titanic]

Total debts were close to £10m at July 2003, but £2m was short term, i.e due less than 12 months

Wow... where does the £10m figure come from ? That's the highest figure I've seen quoted for our debts... and is surely a worrying amount of money ??

Do you know who do we owe it to ? The directors, other creditors, the tax/VAT man ?? and are they likely to want it back soon

 

[Yorkie]

Wow... where does the £10m figure come from ? That's the highest figure I've seen quoted for our debts... and is surely a worrying amount of money ??

Do you know who do we owe it to ? The directors, other creditors, the tax/VAT man ?? and are they likely to want it back soon

That figure was quoted for the Alive and Kicking fund last year when it was stated that the directors had put in 7.5 million and the appeal was for 2.5 million.
I believe the fans raised 300K
I've got a chq for £100 to post in for Guy's home shirt so that is £230 in total for the signed shirts at the kit sponsors dinner.

 

[ac gull]

Tge last filed accounts to 30th June 2004 show a total accumulated loss of £10,061,177.

Of which £4,537,630 is covered by share capital.

The shortfall was £5,523,547

This £5.5m shortfall was partly covered by directors loans to the club of £552,750; "other loans" to the club of £2,837,144 and a bank overdraft of £56,060

This leaves a shortfall of £2,077,593 which was what "Alive & Kicking" appeal was for

Now assuming we would have lost £1m last season before "one offs" - Mcghee's budget will be after a calculation along the lines of:

-£2,100k past debts as at 30th June 2004
-£600k estimated loss for last season before "one offs"
-£300m re Falmer public enquiry extension
+£250k re Currie
+£250k re Cullip
+£250k Spurs game
+£300k Alive & Kicking appeal
+£1,500k re Virgo
+£450k re Harding (£225k of this to be paid to us in early 2006)

= £0k of past debts left

Thus we have probably cleared all our past debts

Thus whatever "loss" we budget to make this season will be the level of debt we will have in our accounts at 30th June 2006

Also we will have to pay for extra seats etc re any cost above the £500k Football Foundation grant for these

Season 2006/7 will be our first full season in a 9,000 capacity Withdean - thus IF we stay up this year - may be a slim chance we will break even in our accounts for 2006/7 season

 

[Ex-Staffs Gull]

Don't know how to link an old thread but this was my simple maths

My simple maths (I am sure it is not this straight forward but here gos) points to a few quid left over from the start of last season to this.

Extra Income Last Season

£200k from Fans
£250k from Spurs
£250K from Danny Cullip
£250k from Darren Currie
---------
£950k Unexpected

Close Season Income

£1.5 Million Adam Virgo
£250k Coca Cola Money
£? Dan Harding (Estimate at £500k for my maths)

Now known at £450k
-------
£2.20 Million

Total income
£3.15 Million

Players Out (Average £1000 a week, I am prepared to be over-ruled on this, but it seems a fair average)

Ben Roberts
Danny Cullip
Dan Harding
Darren Currie
Paul Watson
Nathan Jones
Chris May
John Peircy
Adam Virgo
(Might have missed some but dont think so)
------------------
£9000 pw

Players In

Mark Macammon
can't remember who (promoted from youth)
Cox (promoted from youth)
Colin Kazim-Richards
Jason Dodd
---------------------
£5000 pw

This leaves about £4000 pw week saved

Therefore from the start of last season we have had

£3.20 Million unexpected income
£250k of which is Colin Kasim-Richards fee and wages.

So

£2.95 Million - agents fees of say 10% (all parties seem to pay agents etc
£2.7 Million

I am sure there are taxes to pay on this, but clever accounting should keep that down.

£2 Million to fill the Falmer black hole, should leave

Approx £500k plus £5000 pw (CKR comes out of the £250k)

Should get a couple of good players for that

 

[dougdeep]

Who is buying the seats at Withdean then?

 

[fosters headband]

What colour is the sky in your world? A world where no wages, signing on fees, agents fees, National Insurance, Insurance, Tax, Building Costs, Interest, Police Bills, Stewarding Costs, Travel and Hotel costs and much, much more, never have to be paid?

All the money I quoted was money the club could not have budgeted for, as they did not know they were to get any of it.
All the things you have quoted must surely come from the sales of season tickets and all the other budgeted income.
You will notice I did not include this income.
I except that this may not cover all our running costs, but as someone else said earlier just let us know the facts and fans will not keep asking to spend money they think we have.

 

[Yorkie]

The facts were in the programmes last autumn when the A&K fund was started and also mentioned at the Fans Forum.


I personally think 300K donated by the fans is pretty poor when you think that Bradford fans raised £2 million in 3 months last year to save their club.
I know a lot of people think they give enough with their tickets etc but it is just my opinion.

 

[m20gull]

Approx £500k plus £5000 pw (CKR comes out of the £250k)

Should get a couple of good players for that

If we didn't have the public enquiry extension. Say £400k, £100K for el Turi, wages for McShane, Turi, Carole, new goalie , reserve for a couple of loans - all gone.

 

[dougdeep]

I personally think 300K donated by the fans is pretty poor when you think that Bradford fans raised £2 million in 3 months last year to save their club.

Damn right Yorkie!

 

[Ex-Staffs Gull]

m20gull, I didn't make it too clear, but this was from before Turi, McShane, Carole and new Goalie.

The public enquirey WAS quoted in the debt.

Look, I am not suggesting anybody is doing anything dodgy, underhand, illegal or in anyway trying to harm the club, the opposite, I think they bare doing a great job for the club at large personal expense. These were figures I calculated on the back of a fag packet as unexpected income above and beyond day to day deals.

As for Bradford raising 3 million and us £300k, it is a very very bad comparison, because Bradford needed the money to enable the club to survive in the short term and time limits were set, this focuses the mind as we found out in the dark days.

To be honest, we have raised at collections for many other clubs, given time and support like no other club, frankly I think it is an insult to feel the 300K is a poor amount.

That £3 million at Bradford came from investors, businesses et al, not just from selling signed shirts etc and brought a stake in the club.

 

[Beach Hut]

Allegedly we have now bought all the seats in the South Stand so we will have pre-season friendlies next year - is this true ?

 

[m20gull]

m20gull, I didn't make it too clear, but this was from before Turi, McShane, Carole and new Goalie.

The public enquirey WAS quoted in the debt.

Look, I am not suggesting anybody is doing anything dodgy, underhand, illegal or in anyway trying to harm the club, the opposite, I think they bare doing a great job for the club at large personal expense. These were figures I calculated on the back of a fag packet as unexpected income above and beyond day to day deals.

I don't dispute the figures. My point was that most of the money you suggested as being available has now been spent. Regarding the enquiry money, ac gull quoted above short term debt at 30 June 2004 (before the extension) as over £2m.

As for Bradford raising 3 million and us £300k, it is a very very bad comparison, because Bradford needed the money to enable the club to survive in the short term and time limits were set, this focuses the mind as we found out in the dark days.

To be honest, we have raised at collections for many other clubs, given time and support like no other club, frankly I think it is an insult to feel the 300K is a poor amount.

That £3 million at Bradford came from investors, businesses et al, not just from selling signed shirts etc and brought a stake in the club.

Agree with this. We're not in the same position as Bradford were. £300K is excellent and very gratefully accepted I'm sure.

 

[Yorkie]

Don't know how to link an old thread but this was my simple maths

My simple maths (I am sure it is not this straight forward but here gos) points to a few quid left over from the start of last season to this.

Extra Income Last Season

£200k from Fans
£250k from Spurs
£250K from Danny Cullip
£250k from Darren Currie
---------
£950k Unexpected

Close Season Income

£1.5 Million Adam Virgo
£250k Coca Cola Money
£? Dan Harding (Estimate at £500k for my maths)

Now known at £450k
-------
£2.20 Million

Total income
£3.15 Million

Players Out (Average £1000 a week, I am prepared to be over-ruled on this, but it seems a fair average)

Ben Roberts
Danny Cullip
Dan Harding
Darren Currie
Paul Watson
Nathan Jones
Chris May
John Peircy
Adam Virgo
(Might have missed some but dont think so)
------------------
£9000 pw

Players In

Mark Macammon
can't remember who (promoted from youth)
Cox (promoted from youth)
Colin Kazim-Richards
Jason Dodd
---------------------
£5000 pw

This leaves about £4000 pw week saved

Therefore from the start of last season we have had

£3.20 Million unexpected income
£250k of which is Colin Kasim-Richards fee and wages.

So

£2.95 Million - agents fees of say 10% (all parties seem to pay agents etc
£2.7 Million

I am sure there are taxes to pay on this, but clever accounting should keep that down.

£2 Million to fill the Falmer black hole, should leave

Approx £500k plus £5000 pw (CKR comes out of the £250k)

Should get a couple of good players for that

You forgot Sebastian Carole from Monaco (undisclosed fee)