General Club Finances 2023

[captainox]

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

find-and-update.company-information.service.gov.uk

PDF available to view via this link.

 

[OUFCGav]

Can someone with more time (and likely knowledge of the subject) that me today check out the new charge document lodged re OUFC at Companies House. A summary would be great

The accounts for 2023 are also up.

Can't link direct to the documents, but this link is to the Oxford United FC company page and you can download the PDFs from the links in the list.

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

find-and-update.company-information.service.gov.uk

 

[SteMerritt]

I believe @MarkG is the resident authority on things such as this?

 

[Manorlounger]

A quick scan through the document does not reveal very much. It is signed, for the club, by Grant Ferguson and Tiger, as a director. The charge is held by Barclays Security.
The only figure mentioned is £100,000 - see below:

As to what that all means, I don't know.

 

[Osleroad]

Isn't it towards a liability if called in like an overdraft for example

 

[MarkG]

The accounts are up as well. hefty loss.

 

[Northstandboy]

The accounts are up as well. hefty loss.

Can you make a thread about it please? Would be a good discussion.

 

[ECYellow]

£6,180,529 is the annual loss for 2023.

Steep. Very very steep!

 

[SteMerritt]

£6,180,529 is the annual loss for 2023.

Steep. Very very steep!

...so just the £118,856 being lost every week. Or just under £17K every day...

 

[bashamwonderland]

 

[ECYellow]

Debt risen to north of £24,000,000 as of 1st July last year.

It highlights the importance of getting the stadium on terms that are favourable to the football club in perpetuity.

 

[Osei Yaw]

£17k a day?!

It's Tim's spreadsheets that I feel sorry for.

 

[RyanioBirdio]

£6,180,529 is the annual loss for 2023.

Steep. Very very steep!

I believe the annual loss that will be announced in a year’s time will be in excess of £10m.

 

[LeftSideLarry]

I believe the annual loss that will be announced in a year’s time will be in excess of £10m.

If that includes the cost of the proposals for The Triangle, I’m far from surprised.

If it doesn’t, well I’d have to ask, “where’s it all gone?”

 

[OUFCGav]

Bad link?

Companies House now uses dynamic linking, you can't share a link to a specific document anymore. This should link to the Oxford United filing history page, and you should be able to click on docs there > https://find-and-update.company-information.service.gov.uk/company/00470509/filing-history

 

[Steve Gilbert]

Not good reading and this will certainly be a stick that FOSB will use to beat the club with.

 

[Foley]

Not good reading and this will certainly be a stick that FOSB will use to beat the club with.

I think that it highlights the need for the new stadium ( with the financial projections to back this up)
Without the stadium it is game over for OUFC.
Not sure how this helps FOSB suggesting that the club should pay a lot more rent to stay at the Kassam?

 

[holdsteady]

I think that it highlights the need for the new stadium ( with the financial projections to back this up)
Without the stadium it is game over for OUFC.
Not sure how this helps FOSB suggesting that the club should pay a lot more rent to stay at the Kassam?

We would also probably need new owners to pay that increased rent, so I would say if we get turned down then that’s that.

 

[Common Villager]

I think that it highlights the need for the new stadium ( with the financial projections to back this up)
Without the stadium it is game over for OUFC.
Not sure how this helps FOSB suggesting that the club should pay a lot more rent to stay at the Kassam?

The anti-stadium argument will be that there is a risk of the club running out of funds and the stadium being left half-built, which, to be fair, is a reasonable concern.

 

[Colin B]

This is why they didn't want to answer my question at the recent Fans Forum.

Are we really expected to believe that the Chairman and CEO did not know, only three short weeks ago, that we had lost over £6m???!!! It's why I kept pushing the point on the night.

A couple of other points to note are as follows. We now publish a shortened version of the accounts, with none of the more interesting information available, and there is 10/12 pages less information than most of our contemporaries, and no Directors' Report, which usually explains the rationale behind the numbers. At the moment the £6m is sitting on the accounts as debt, not equity, which was another point of mine that they didn't want to answer at the Fans Forum.

As I've mentioned the Fans Forum, it's worth relating that I sent Tim Williams an email the following day, as a bit of an olive branch, saying that I hadn't intended things to become as adversarial as they did. Three weeks later and I haven't had as much as an acknowledgement from him. That together with the new, slimmed down, public accounts reminds me of the great Jim Royle quote, "communication my a**e"!