Fan's View - Scunthorpe at home

[Paul Cannell]

Possibly Newcastle are paying a proportion?

 

[Paul B]

One wonders how on earth Scunthorpe , on gates of 4,000 , can afford to pay on loan Toney’s wages.

Such actions must be one of the reasons they are losing money and why they are in the financial position they are.
Called up share capital 8,900,000
Revaluation reserve 3,015,248
Other reserves 2,501
Profit and loss account -11,466,074
Total equity 451,675
Taken from their just published accounts balance sheet to end of June 2017. A qualified accountant would produce a fair interpretation of what this
actually means. I can't.

 

[NottsYellow]

Such actions must be one of the reasons they are losing money and why they are in the financial position they are.
Called up share capital 8,900,000
Revaluation reserve 3,015,248
Other reserves 2,501
Profit and loss account -11,466,074
Total equity 451,675
Taken from their just published accounts balance sheet to end of June 2017. A qualified accountant would produce a fair interpretation of what this
actually means. I can't.

Oh yes, it is the time of year the clubs submit their accounts to Companies House for a June year end, so covering the 2016/17 season. It appears Scunthorpe basic figures are Turnover £4.143M (2016 £3.707M) Loss £5.579M (2016 £3.748M). This year there was an exceptional cost of £1.3M for "Impairment of assets under construction".
In their turnover they have income from hospitality and catering of £461,000. They own their ground so no rent to pay.
Oxford's accounts are available yet, but in the y/e 30 June 2016, the turnover was £5.1M. So we are £1M ahead in turnover but the lack of income from catering and paying out the rent knocks out that £1M advantage!
So back to Scunthorpe, their normal trading losses (before tax credit) over the last two years, taking out the exceptional item, total nearly £8M!

 

[Corporate_Clive]

One wonders how on earth Scunthorpe , on gates of 4,000 , can afford to pay on loan Toney’s wages.

I understand that they are owned by Peter Swann and his wife, who have a combined net worth of £340m. Mrs Swann (Nee Wilkinson) of the Wilko chain store recently sold her 50% share in the family business for £64m. Peter Swann invested £1.5m into his local non-league club before buying SUFC.

 

[Navegante]

Such actions must be one of the reasons they are losing money and why they are in the financial position they are.
Called up share capital 8,900,000
Revaluation reserve 3,015,248
Other reserves 2,501
Profit and loss account -11,466,074
Total equity 451,675
Taken from their just published accounts balance sheet to end of June 2017. A qualified accountant would produce a fair interpretation of what this
actually means. I can't.

Another great report write up there Paul B.

Out of interest, where did you see the figure for the player wage bill of 2.7M? Total salary costs in the accounts are listed as 5.5M. I would expect the bulk of salaries to be paid to 1st team player squad - 70%-80% would give a range of 3.85M to 4.4M, or would that be completely unrealistic?

 

[Paul B]

Another great report write up there Paul B.

Out of interest, where did you see the figure for the player wage bill of 2.7M? Total salary costs in the accounts are listed as 5.5M. I would expect the bulk of salaries to be paid to 1st team player squad - 70%-80% would give a range of 3.85M to 4.4M, or would that be completely unrealistic?

I saw that figure in the local Scunny paper. I should have referenced the source.

Here it is

https://www.scunthorpetelegraph.co.uk/sport/football/scunthorpe-united-report-loss-34million-1393395