General Accounts are up

[Jason]

OXFORD UNITED FOOTBALL CLUB LIMITED filing history - Find and update company information - GOV.UK

OXFORD UNITED FOOTBALL CLUB LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity

beta.companieshouse.gov.uk

 

[MC Yellow]

Tax Loss of £3,378,518 ?

Post year-end receipts from recent player sales of £4,439,000, which will come into the 2020 figures, plus potential additional receipts, from player sell on clauses no doubt.

You can see why we needed to sell.....

 

[ZeroTheHero]

I'm no expert, but to me that looks as if the debts had gone up by £4m in the year to 30th June 2019.

Blimey.

 

[OUFCGav]

OXFORD UNITED FOOTBALL CLUB LIMITED filing history - Find and update company information - GOV.UK

OXFORD UNITED FOOTBALL CLUB LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity

beta.companieshouse.gov.uk

"The Directors of the company have elected not to include a copy of the profit and loss account within the financial
statements."

The "Amounts owed to group undertakings" went up from £2154985 to £10911997 from 2018 to 2019.

"Included in other creditors is an amount of £2,646,582 (2018: £2,391,634) due to Alycidon Limited (previous name
Ensco 1070 Limited) in respect of loan notes. The loan notes are secured by way of fixed and floating charges over
all the assets of the company in respect of monies owed to it. At 30 June 2019 the amount outstanding in respect
of the loan notes is £2,646,582 (2018: £3,494,928), at an amortised cost, using the effective interest method. The
loan has been repaid in full post year-end."

 

[LeftSideBoy]

Tax Loss of £3,378,518 ?

Post year-end receipts from recent player sales of £4,439,000, which will come into the 2020 figures, plus potential additional receipts, from player sell on clauses no doubt.

You can see why we needed to sell.....

I'm no financial expert but if we sold Bap/Fosu for 4.5mil then if we continued in the same way for the next financial year, we would break even?

 

[MC Yellow]

Well it certainly shows that the model can work if we find the right players and nurture them through to become a valuable asset.. just like Baptiste for example.

But ultimately they have to be sold to balance the books.

So it’s a case of running the club as financially astute as possible, having a reliable recruitment process and fans accepting that players need to move.

Simple really ??

 

[RyanioBirdio]

Well it certainly shows that the model can work if we find the right players and nurture them through to become a valuable asset.. just like Baptiste for example.

But ultimately they have to be sold to balance the books.

So it’s a case of running the club as financially astute as possible, having a reliable recruitment process and fans accepting that players need to move.

Simple really ??

Absolutely. And as long as we keep signing the next sellable assets on permanent contracts then we’ll all be happy.

???

 

[pooshooter]

So we lost £4m last year...

 

[NorthWestOx]

Page 14, net player transfers after reporting period is £4.439M.

Who's that? Gavin Whyte, but who else?

 

[Left Wing Cross]

Page 14, net player transfers after reporting period is £4.439M.

Who's that? Gavin Whyte, but who else?

Gavin Whyte was sold after 30th June 2019 so should fall outside the reporting period.

So should be Ledson, Rothwell, Hemmings, Carroll plus add-ons from previous deals. Looks a lot higher than I would have expected.

 

[Left Wing Cross]

Well it certainly shows that the model can work if we find the right players and nurture them through to become a valuable asset.. just like Baptiste for example.

But ultimately they have to be sold to balance the books.

So it’s a case of running the club as financially astute as possible, having a reliable recruitment process and fans accepting that players need to move.

Simple really ??

I am willing to accept selling players to balance the books but that is not what we had been told by the board.

 

[Gary Baldi]

The accounts were approved on 6th March, so I would say includes the Whyte money, but of course we have no visibility on the payment schedule on fees for all players we have sold and what is included in the 4.439m figure.

Some interesting other parts




It's interesting to see how some of the creditor figures have moved around. If DEs charge was settled after the period, what else has gone on? Or was the charge moved around for accounting purposes?


What is abundantly clear is why the club had so many cash flow issues last season and how Tiger, and the Board, lost control of it all. Clearly there is a lot of work to be done at OUFC and I cannot say I am that surprised. It all comes with a cost

On a pedantic note, the charge over the club is still in place as of today!

 

[Gary Baldi]

And of course, worth clarifying:

 

[Left Wing Cross]

The accounts were approved on 6th March, so I would say includes the Whyte money, but of course we have no visibility on the payment schedule on fees for all players we have sold and what is included in the 4.439m figure.

The heading states "as at 30 June 2019". Whyte was sold at the end of July.

 

[Gary Baldi]

The heading states "as at 30 June 2019". Whyte was sold at the end of July.

I meant in the 4.4 bit - so poorly worded on my party.

 

[Leedsexile]

It worries me that the accounts are unaudited and don't include a profit loss account. Are the board trying to hide something?

 

[Wallop]

Could a qualified accountant provide a simple review of these accounts so we don't get lots of speculation? Mark G?

 

[AbsoluteZero]

£475K spent on new player transfer fees in the year. And another £596K on Land and Buildings, which are still under construction so there must be more to add to that this year, presumably the training complex. Which seems a lot to spend when the owner is funding it out of his own money, so to me shows that there must be commitment from the owner of a more long term nature if he is willing to do this. The amount owed to group undertakings is a lot of money to lose if they pull the plug. Despite the figures looking pretty awful I'm not too concerned, the owners must have a plan somewhere and for something as the year on year player sales isn't going to be enough for them to get their money back. There must be something else that is keeping them interested.

 

[MarkG]

During the financial year to June 2019 we sold Ryan Ledson and Joe Rothwell. Net sales and purchases disclosed as post 30 June 2018 were 345K.

Post June 2019 the main sales were Whyte, Fosu and Baptiste. So 4.4 sounds about right at 2 for Whyte, 3 for Fosbap, less a sell on to Crusaders , less any transfer fees we've paid.

 

[Sarge]

Could a qualified accountant provide a simple review of these accounts so we don't get lots of speculation? Mark G?

no comment from me (yet) ....maths aint my strong point

my landlandy however is a fellow of ACCA , I'll be getting her to cast an eye over the club accounts later , if shes not too late in from work, ...and hasnt been to the pub on her way home