tinycowboy
Well-known member
I'm slightly embarrassed to say that I love reading year-end accounts (in moderation), although preparing them can be a different story...
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The financial challenges of the Championship: Bristol City lose £14.4m
- Thread starter Bozza
- Start date
I'm slightly embarrassed to say that I love reading year-end accounts (in moderation), although preparing them can be a different story...
How do I load the Albion accounts on here, as I have them as a pdf?
Last year at Withdean revenue was £7.1 million and expenditure was £14.5 million!
Last year at Withdean revenue was £7.1 million and expenditure was £14.5 million!
GreersElbow
New member
Aye, I'm fascinated by it. But I hate producing accounts, especially when it comes to capital allowances for motor vehicles. And depreciation can be an absolute pain. But other than that, it's interesting to see how companies are doing based on their year-end accounts.
GreersElbow
New member
The thing is, we may have increased spending in preparation of moving to the Amex, losses would have been bought forward to offset the profits in this year, reducing our tax liability but also spreading the loss over a period and to make it sustainable. BCFC appear to be continously over spending, and it's increasing significantly.
Financial statement of Brighton Hove Albion Holdings Limited in
As you can see here, before 2010/11, we were running a sustainable model.
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clippedgull
Hotdogs, extra onions
Fair Play, I overlooked the fact that are going through that process!
I have the full accounts for the Albion for before 2010/11, and I have no idea how you reached that conclusion, as we have lost on average £3 million a year for a long period of time.
GreersElbow
New member
Well produce them then, given the limited amount of information on the net from credit agencies and companies house.
Making losses isn't always entirely bad. It depends on who your creditors are and what else is it is being spent on. It shouldn't be assumed that because we've made a loss we're going to shit.
I'm interested in seeing your accounts between 2002/3-2010/11
You can attach a pdf I think.
Operating losses year ended 30 June
2011: £7.14 million
2010: £5.34 million
2009: £4.66 million
2008: £3.15 million
Total over four years: £20.29 million. I'm not a practising accountant, but that seems a lot to me, but if it isn't bad, then yippee!
I don't have the previous year files on this laptop.
GingerBeerMan
3-0
- Dec 29, 2011
- 8,205
Next year? They take a whole year to collate the figures?
deletebeepbeepbeep
Well-known member
- May 12, 2009
- 21,801
I've posted this before but for anyone whose interested the Swiss Ramble has an excllent article on our finances although it was written at the end of the 10/11 Season.
The Swiss Ramble: Good Old Sussex By The Sea
The Swiss Ramble: Good Old Sussex By The Sea
deletebeepbeepbeep
Well-known member
- May 12, 2009
- 21,801
It's just how its done, they are always a year behind I think, although no doubt one of our accountants can correct this.
Pavilionaire
Well-known member
- Jul 7, 2003
- 31,269
I'm an accountant and those figures are trully scary. Over the last 2 season it's £24 million IN and £50 million OUT. £26 million lost and the club with £44 million net debt.
Basically, just to play off their Current Liabilities arising from 2011/12 AND to cover their 2012/13 costs they'd have to TREBLE their income from £12 million to £36 million, and that's not going to happen.
It's presently Portsmouth on a smaller scale. They've spent twice as much on servicing debt than on development costs for a new stadium.
Clubs like this are entirely commercially unviable. They basically need a Roman Abramovich to pay off the debts, then write off their loans. That's not going to happen. To my mind the only commercial way forward is for City and Rovers to sell their assets, combine as Bristol Utd and start again. The Bristol area is not big enough to support two separate football teams and two rugby union teams and for any of them to compete at the highest level.
Basically, just to play off their Current Liabilities arising from 2011/12 AND to cover their 2012/13 costs they'd have to TREBLE their income from £12 million to £36 million, and that's not going to happen.
It's presently Portsmouth on a smaller scale. They've spent twice as much on servicing debt than on development costs for a new stadium.
Clubs like this are entirely commercially unviable. They basically need a Roman Abramovich to pay off the debts, then write off their loans. That's not going to happen. To my mind the only commercial way forward is for City and Rovers to sell their assets, combine as Bristol Utd and start again. The Bristol area is not big enough to support two separate football teams and two rugby union teams and for any of them to compete at the highest level.
The deadline for submission of accounts to company accounts is 10 months from the financial year end I think.
I been involved in preparing accounts for several multinational companies, it is always October by time we submit to companies house (based in December 31 year end) We always aim for March, but audit issues normally delay this.
As we long as we submit in time to satisfy companies house etc, it is not seen as a prioirty...although early submission can help with obtaining credit amd entering into partnerships etc
Blackadder
Brighton Bhuna Boy
Bristol City were in the top division for some of the time we were there. I remember they put most of their players on TEN year contracts and were promptly relegated.
Once they went down, the players sat pretty on their contracts but failed to get the club promoted again. BCFC had to pay up most of their contracts. It nearly bankrupted them.
Mind you, they didn't have to sell their stadium.
Once they went down, the players sat pretty on their contracts but failed to get the club promoted again. BCFC had to pay up most of their contracts. It nearly bankrupted them.
Mind you, they didn't have to sell their stadium.
Seagull over NZ
Well-known member
Steve Lansdown has indeed pumped a lot of money into the club over the years. He is a wealthy man having earned huge amounts from the floatation of his business Hargreaves Lansdown that he was the main benefactor of. I know his son, play football against him and he is now a director working on the stadium. Have chatted to him a bit in the past about Brighton's fight and everytime they get a little victory i always tell their fans that there will be a long way to go (bitter self experience but reality).
Steve Lansdown has recently moved to the Channel Islands, presumably the climate in the English channel is much better than in the south west rather than any tax reasons. Maybe he feels that Bristol City is in effect his taxation in the UK !
They did gamble a few years ago on getting into the premiership with some high wages and it could be that these losses are an overhang from these days but to have wages costing 30-40% more than their income is really quite disastrous. They will be looking for their new stadium to be their salvation but by my reckoning that will still be some years away. So it will depend on whether the Lansdown family are willing to finance the club in an ongoing way.
Steve Lansdown has recently moved to the Channel Islands, presumably the climate in the English channel is much better than in the south west rather than any tax reasons. Maybe he feels that Bristol City is in effect his taxation in the UK !
They did gamble a few years ago on getting into the premiership with some high wages and it could be that these losses are an overhang from these days but to have wages costing 30-40% more than their income is really quite disastrous. They will be looking for their new stadium to be their salvation but by my reckoning that will still be some years away. So it will depend on whether the Lansdown family are willing to finance the club in an ongoing way.
Seagull over NZ
Well-known member
Duplicate
tinycowboy
Well-known member
It depends. The numbers have to be audited, but taking 7-8 months to produce and file these accounts is not particularly quick, although they actually have nine months to do so. Pressure to produce and file accounts more quickly (for a private company) usually comes from other interested parties, such as banks who are owed stacks of money or concerned owners, so maybe we should see it as something positive!
tinycowboy
Well-known member
However, Stephen Lansdown is their main creditor (same as TB is for us), so it could happen - as long as he doesn't mind flushing his money down the toilet. I think this amount would just represent a couple of years' worth of dividends from Hargreaves Lansdown, so he can do without it, although I'm sure he'd rather the club could operate on a more stable basis.