Accounts for the year ending June 2018

[Leedsexile]

The Accounts for the year up to June 2018 have been uploaded to Companies House.

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

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Annoyingly there isn't a specific profit/loss page in the accounts (as there has been previously), to show exactly where that loss has come from. Accounts are also missing the directors report and independent auditors report.

However it looks like we made a loss of over £2 million. Also states that on 30 June 2018, the amount owed to Ensco in respect to loan notes was £3,494,928, of which £2,391,634 was due within one year.

 

[MarkG]

Many numbers that were previously disclosed aren't anymore, and also some are aggregated together, which makes it difficult to work out where and to who the club owes money.

Anyway, the Ensco loan notes are £3.5million, and trade debtors were only £2.2million. Even if trade debtors are all in relation to player sales, that still leaves £1million not covered by known transfer instalments.

The other questions that will get asked is how much is the club in debt?
Trade creditors are £1.9M - possibly the service charge dispute, sell-ons on players, owed to Kassam etc.
Due to group = loan from parent company £2.1M
Taxes 342K
Other creditors (excl Ensco) = £6.3M. How much of this is the ported WPL debt? It's shown as due within one year, but is it actually due? Is anyone else owed money?

 

[Gary Baldi]

The cash at bank is rather alarming as well. Highlights the issues we saw in the past 6 months and how close to the bone the club has been

 

[MarkG]

The cash at bank is rather alarming as well. Highlights the issues we saw in the past 6 months and how close to the bone the club has been

Yes it does look very low and certainly not enough to pay bills coming up, though historically it's never been very high apart from last year (Player sale or ST income?), and the owners have had to dig into their other cash reserves to pay bills.

Amounts owed to group undertakings 2,154,985, and increase in share capital 2,411,860 suggests Tiger has put in 4.5 Million already by June 2018.

 

[Foley]

Yes it does look very low and certainly not enough to pay bills coming up, though historically it's never been very high apart from last year (Player sale or ST income?), and the owners have had to dig into their other cash reserves to pay bills.

Amounts owed to group undertakings 2,154,985, and increase in share capital 2,411,860 suggests Tiger has put in 4.5 Million already by June 2018.

It looks like it Mark.
Makes a nonsense of those who say that Tiger hadn't invested and has no money (whether it comes from home.or friends)

 

[carefreeoufc]

He must be more stupid than he looks if he’s put 4.5M into us with very little to show other than some new AstroTurf and cedar clad portacabins

 

[RCYellowRC]

Rumours circulating that players and staff haven't been paid for this month. Circus.

 

[Kamal]

Rumours circulating that players and staff haven't been paid for this month. Circus.

Same rumour that has been spreading for months which has been debunked by the captain of the team.

 

[Golden Dr Otto]

Why are the accounts being presented with less information? That is a very conscious decision when preparing year on year.

#transparency

 

[Paul Cannell]

Opacity. The future.

 

[MarkG]

Why are the accounts being presented with less information? That is a very conscious decision when preparing year on year.

#transparency

New reporting standards and EU raised the small company thresholds? Perhaps.

 

[Yellowbelly]

Why are the accounts being presented with less information? That is a very conscious decision when preparing year on year.

#transparency

To date it hadn’t happened. This time it’s true. No players or staff have been paid in March

 

[Sarge]

To date it hadn’t happened. This time it’s true. No players or staff have been paid in March

hearing players paid albeit very late .... nothing re .staff

 

[NottsYellow]

Just some other highlight figures from accounts submitted to Companies House
Blackburn Rovers Operating loss £17M Balance Sheet, Net liabilities £93M
Wigan Athletic Loss £9.6M and BS net liabilities £19M
Scunthorpe Loss £4.3M and BS net liabilities £3M
Charlton Athletic Loss £13M and BS net liabilities £33M
The total salary cost (incl all employees) for Charlton was £10M. The manager must have had a good playing budget in 2017/18.

 

[West Oxon U’s]

 

[Shosho]

Salford ?. Christ

 

[OUFCGav]

Salford ?. Christ

Just think how much they will be losing this season after increasing their wage bill by several hundred percent (by accounts).

 

[myles]

Just thinking about these accounts, we managed to lose over £2m despite massive income from player sales - Marvin Johnson for one. That figure is what we should expect without such sales, so where has the money gone?

I’m hugely suspicious of the decision not to include a P&L breakdown (quelle surprise!), and I wonder how much has gone out of the club as management fees to Tiger’s associates?

 

[Sarge]

Just thinking about these accounts, we managed to lose over £2m despite massive income from player sales - Marvin Johnson for one. That figure is what we should expect without such sales, so where has the money gone?

I’m hugely suspicious of the decision to include a P&L breakdown (quelle surprise!), and I wonder how much has gone out of the club as management fees to Tiger’s associates?

ditto what @myles said ^

 

[OUFCGav]

Interestingly just got notification of "ammended accounts" being posted on the Companies House site. The actual doc not yet available, but wonder what has changed in the last 2 weeks.