Firoka Accounts

holdsteady

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For those interested in this sort of thing, FIROKA (OXFORD UNITED STADIUM) LIMITED filed their Full accounts to September 2018 with Companies House last Thursday - just about scratched together half a million profit before tax
The stadium isn’t viable without the football club (and the cuckoo rugby club thankfully died so hopefully that put paid to that as an alternative) but the football club isn’t viable with the current stadium situation as is, can’t decide if that helps us or not.
 

Navegante

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For those interested in this sort of thing, FIROKA (OXFORD UNITED STADIUM) LIMITED filed their Full accounts to September 2018 with Companies House last Thursday - just about scratched together half a million profit before tax
To really cheer you up, profit from the rest of the Grenoble Rd empire was reported as follows:

  • Old Hotel: £963k (after £157k charitable donation!)
  • New Hotel: £436k
  • Leisure Complex: £947k
 

Essexyellows

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You don`t put all your profit down on paper...................................................... its why accountants have jobs. (y):)
 

WestOxon U’s

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To really cheer you up, profit from the rest of the Grenoble Rd empire was reported as follows:

  • Old Hotel: £963k (after £157k charitable donation!)
  • New Hotel: £436k
  • Leisure Complex: £947k
Stadium company business has net tangible assets of £1.3m

https://beta.companieshouse.gov.uk/company/03715984/filing-history

The Ozone building is valued at £24.8m in the latest accounts.

The company has net tangible assets of £19.4m

https://beta.companieshouse.gov.uk/company/03658747/filing-history

The “ Old “ hotel business has net tangible assets of £5.2m.

https://beta.companieshouse.gov.uk/company/06599318/filing-history

The “ new “ hotel business has net tangible assets of £1.2m

Kassam is substantially ‘ up ‘ on the deal after buying all the freehold land the assets sit on for around £2m.
Gross freehold values £6.5m, £24.8m, £7.8m & £3.1m = £42.2m
Net assets after borrowings/liabilities £27.1m
 

MarkG

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Something to pick up is that the Contingencies note regarding the service charge dispute from 2015-2017 has been dropped for the 2018 accounts. So this presumably confirms the dispute has been resolved - though whether it has been paid or not is another matter, and by whom? i.e. Did Tiger get any money back (or owe less) from Eales?

Note 12 has an interesting drop in bad debt provision from £124,611 to £38,000. Perhaps last year was a 20% provision against the service charge dispute? Or London Welsh, or someone else? Seems most unlike Kassam to let anyone owe him money.
 

Navegante

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Something to pick up is that the Contingencies note regarding the service charge dispute from 2015-2017 has been dropped for the 2018 accounts. So this presumably confirms the dispute has been resolved - though whether it has been paid or not is another matter, and by whom? i.e. Did Tiger get any money back (or owe less) from Eales?

Note 12 has an interesting drop in bad debt provision from £124,611 to £38,000. Perhaps last year was a 20% provision against the service charge dispute? Or London Welsh, or someone else? Seems most unlike Kassam to let anyone owe him money.
£826k in Trade Debtors! Most of that probably relates to outstanding Service Charges payable by the football club?
 

Navegante

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Any idea what the £43k of "Government Grants" listed under "Other Income" relates to? I assume a chunk of cash was received at the time of stadium construction to help support the switch from the Manor and is apportioned over a number of years.

But on the face of it, a P**s take of biblical proportions if taxpayer money contributed to the funding of this money printing empire!
 

Oxymoron

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Isn't the Kass Stad an Evacuation Center in one or more of the Government's and OCC's Emergency Plans? Could be related to that?
 

MJB

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Isn't the Kass Stad an Evacuation Center in one or more of the Government's and OCC's Emergency Plans? Could be related to that?
Christ, can you imagine?

Some poor b****r is going to turn up on a stretcher and have 50 people calling them “plastic” before a chorus of “Loyal Supporters” rings out.

“Where we you when weren’t in the middle of a Major Incident?”
 

MarkG

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Any idea what the £43k of "Government Grants" listed under "Other Income" relates to? I assume a chunk of cash was received at the time of stadium construction to help support the switch from the Manor and is apportioned over a number of years.

But on the face of it, a P**s take of biblical proportions if taxpayer money contributed to the funding of this money printing empire!
Fairly sure that's correct, there was a grant towards building the stadium, something similar to what is now the Football Stadia Improvement Fund. If you look back at the 2002 accounts, the release that year was 104,600 and deferred was 2,540,800, so total of 2,645,400.
 
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