Accounts for the year ending June 2018

Sarge

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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.
funds transferred over from Thailand have finally cleared compliance perhaps ? :sneaky::unsure::)
 

myles

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Those accounts are absolutely horrific!! I'm fairly sure that's the largest operating loss we have EVER had.

Also surprised that the arbitration settlement isn't included in "Events after the reporting date"
 
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oxford1985

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intertesting to know why they have had a change of heart and added the P/L accounts after the fact.
 

Navegante

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In summary when comparing to the previous fiscal:

  • Revenue: Down £1.4M
  • Cost of Sales (includes player wages?) up £0.8M
  • Administration costs up £0.5M - would love to know what is behind that, any "management fees" to the board ?
  • Interest payments up £140k - debt is increasing and seems not to be "soft"
Additionally £0.7M invested in Tangible fixed assets (shows on the Balance sheet, rather than P&L) - would assume the training ground?
 
D

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They make for worrying reading.

It won't stop people asking for the owner to spend, spend, spend on things we can't afford, though.

Unless an owner in the guise of those that own Man. City come along, we either have to accept a huge deficit each year (and hope that the owner never calls it in) or we play at the level we can afford, which, given the stadium situation, is at least a division below.
 

MarkG

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Those accounts are absolutely horrific!! I'm fairly sure that's the largest operating loss we have EVER had.

Also surprised that the arbitration settlement isn't included in "Events after the reporting date"
I think last year it was disclosed as it was what used to be called a contingent liability, but as it has now been resolved, perhaps that is why it isn't mentioned. I also think it should have been accounted for in these accounts as it was in relation to this and prior accounting periods.
 

PottersRightBoot

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These accounts are yes horrible but less horrible than many other rival clubs. At least we have played the transfer market well in recent years.

And yet - we have not sold any players this season. So 30/6/19 accounts will be ‘worse’.

This implies further funding is coming. Doesn’t it?

The interest charge jumped up alarmingly last year , who are the club borrowing from?

Football investors appear to invest for reasons other than for for ‘profits’, On pure financial metrics the football ‘industry’ is quite crazy.

If the Mr Big of Indonesia is coming in he ain’t coming in for ‘football’ reasons - it has to be for a property rationale.

I have seen a set of accounts somewhere for OUFC in the mid seventies . It was a tiny financial concern .

The fact that the club now turns over £6 million pa is noteworthy of itself. Despite the losses quite impressive.
 

Gary Baldi

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One thing to remember is the impact of the DE transfer slush fund and the impact it has on the club. If I recall, that did have an interest liability within it, which I've always found cheeky. Not sure if it has an impact here though.
 

Fred

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So how would we fans react if the board adjusted our player budget to our expected income? Which league would we end up in if we did this for 10 years? Non league somewhere? Is that what firoz kassam did when he owned the club? Would we keep on dropping through the leagues? Does the rent stay the same?
 

OUFCGav

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Another interesting figure is the drop in "cash at bank and in hand" - from £677985 to £94152
 

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