javeajag Posted October 31, 2016 Report Share Posted October 31, 2016 The AGM will be held on a Nov 24....quick first look Profit of £210k till 31 May 2016 Turnover up to £3281221 Expenses flat £174k positive on interest and charges Bank overdraft seems to have gone c£100k Bank loans seem to have gone c£400k Wages and salaries up £50k Quote Link to comment Share on other sites More sharing options...
kevin energy Posted October 31, 2016 Report Share Posted October 31, 2016 Slightly worrying ? Quote Link to comment Share on other sites More sharing options...
jaf Posted November 1, 2016 Report Share Posted November 1, 2016 Excellent. The weir cash has taken out the bank with the knock on effect to profit of not being burdened with bank interest and charges. The club have then run a balanced budget, but have managed to make a profit due to player sale. Without that, the really important thing is we would still have broken even at worst. The write have transformed the finances and this board are showing a balanced budget can be run. Well done all concerned. Quote Link to comment Share on other sites More sharing options...
sandy Posted November 1, 2016 Report Share Posted November 1, 2016 Good news indeed, Jaf Quote Link to comment Share on other sites More sharing options...
scotty Posted November 1, 2016 Report Share Posted November 1, 2016 Slightly worrying ? Only in as much as it's been simplified and I still don't understand numbers. Quote Link to comment Share on other sites More sharing options...
ian_mac Posted November 1, 2016 Report Share Posted November 1, 2016 That is an excellent set of results. Probably the best we've seen since before Save The Jags. I'm guessing Kevin Energy doesn't really do number Full credit for this must go to Alan Archibald. Quote Link to comment Share on other sites More sharing options...
Graemei Posted November 1, 2016 Report Share Posted November 1, 2016 Full credit for this must go to Alan Archibald. The board may disagree with that Figures look great, be good to know how they compare to the other clubs in our league, but i'm not that interested that i'll pay to find out. Quote Link to comment Share on other sites More sharing options...
G13 jag Posted November 1, 2016 Report Share Posted November 1, 2016 The financial year in question is when we started giving out longer term contracts, yet the wages have only increased by £50k. This seems like very good housekeeping. Good to know what the total wage bill is. Quote Link to comment Share on other sites More sharing options...
Peaty FC Posted November 1, 2016 Report Share Posted November 1, 2016 Full credit for this must go to Alan Archibald. Make a change from Archie must go!! Defo the most comforting set of accounts I have seen since becoming a shareholder. Yes, the Weirs are the big thank you here but also credit to all who have contributed. Struth we are even due to pay some (but not too much) CT! It is perhaps fitting the accounts are being issued in a week that there is a feel good factor around with all of a Jaggy persuasion. Here's to a continuation on Friday night! Quote Link to comment Share on other sites More sharing options...
lady-isobel-barnett Posted November 1, 2016 Report Share Posted November 1, 2016 Looks good to my untrained eyes. Doesn't of course include the £1.5m we forked out for Adam Barton.. 1 Quote Link to comment Share on other sites More sharing options...
BowenBoys Posted November 1, 2016 Report Share Posted November 1, 2016 Looks good to my untrained eyes. Doesn't of course include the £1.5m we forked out for Adam Barton.. Forked out for? I think you mean invested in. Quote Link to comment Share on other sites More sharing options...
Garscube Road End Posted November 1, 2016 Report Share Posted November 1, 2016 Looks good to my untrained eyes. Doesn't of course include the £1.5m we forked out for Adam Barton.. Thank God we weren't profligate over that transfer. Quote Link to comment Share on other sites More sharing options...
Fawlty Towers Posted November 1, 2016 Report Share Posted November 1, 2016 Excellent. The weir cash has taken out the bank with the knock on effect to profit of not being burdened with bank interest and charges. The club have then run a balanced budget, but have managed to make a profit due to player sale. Without that, the really important thing is we would still have broken even at worst. The write have transformed the finances and this board are showing a balanced budget can be run. Well done all concerned. Very pleasing figures. Do the accounts show what the transfer fee was for Jack Hendry? Quote Link to comment Share on other sites More sharing options...
amsterdam jag Posted November 2, 2016 Report Share Posted November 2, 2016 Just wondering if someone could scan a copy and send me please. Wouldn't mind doing a wee analysis Quote Link to comment Share on other sites More sharing options...
Lambies Lost Doo Posted November 2, 2016 Report Share Posted November 2, 2016 To be debt free is a wonderful thing. Imagine having no mortgage our loans! The club is very well run. All money goes to the club. Well done board and staff and thank you Colin Weir. Quote Link to comment Share on other sites More sharing options...
javeajag Posted November 2, 2016 Author Report Share Posted November 2, 2016 Just wondering if someone could scan a copy and send me please. Wouldn't mind doing a wee analysis I would if I knew how to do that ! Quote Link to comment Share on other sites More sharing options...
amsterdam jag Posted November 2, 2016 Report Share Posted November 2, 2016 I would if I knew how to do that ! It's ok, one of our fellow forum members kindly sent me a copy. Will have a wee look properly later. But did notice a couple of things - we have changed bankers completely from Bank of Scotland to Santander, and it does look like we also changed auditors and lawyers as well in last few years. Not seen accounts for a couple of years so might have happened previously. Quote Link to comment Share on other sites More sharing options...
Fawlty Towers Posted November 6, 2016 Report Share Posted November 6, 2016 It is just me who finds it a bit strange that the Rangers and Aberdeen accounts have barely landed on the doormat of their shareholders before the BBC are doing pieces about them on the website but a good news story involving a debt fee club making a profit without getting to a cup final does not warrant even a mention? Anyway for those who are in that line of work and have seen the accounts any chance of a nice simple breakdown of them for people like me? Quote Link to comment Share on other sites More sharing options...
Fawlty Towers Posted November 26, 2016 Report Share Posted November 26, 2016 Even being away during the week word reached me that a Glasgow based football club was having its AGM - unfortunately the reports focussed on a newly formed club and not the city's oldest professional club. Did anyone on this forum actually attend our AGM and if so would they be kind enough to give a brief summary? Thanks in advance. Quote Link to comment Share on other sites More sharing options...
kevin energy Posted November 26, 2016 Report Share Posted November 26, 2016 I thought it was next week looks like i have missed it Quote Link to comment Share on other sites More sharing options...
Fawlty Towers Posted November 30, 2016 Report Share Posted November 30, 2016 For those who are interested (which appears to be very few) the accounts are now on the Companies House website for you to view. Very nice to see the Creditors falling due after 1 year column being blank. Wages are 58% of our income which, I think, is in the recommended level. Quote Link to comment Share on other sites More sharing options...
kevin energy Posted November 30, 2016 Report Share Posted November 30, 2016 We are still debt free ? Quote Link to comment Share on other sites More sharing options...
lady-isobel-barnett Posted November 30, 2016 Report Share Posted November 30, 2016 Wages are 58% of our income which, I think, is in the recommended level. Aye, I think that's acceptable. Seem to mind last time we were in the top league Dundee were forking out just over 150% wages to turnover, Dunfermline 130% followed by a few others. I don't imagine you have to be a financial whizz kid to know that sort of madness was unsustainable. These days as long as other clubs aren't doing the crazies we might not be totally out on a limb paying out circa 60% of an albeit comparatively low turnover. I suppose over the longer term a lot will depend on us bringing thru younger players on relatively low wages to compensate for more competitively paid established players. I don't see us being able to significantly increase turnover and paying out a considerably higher wage to turnover percentage is reckoned to be imprudent. Quote Link to comment Share on other sites More sharing options...
Fawlty Towers Posted December 1, 2016 Report Share Posted December 1, 2016 We are still debt free ? There is no bank debt. Quote Link to comment Share on other sites More sharing options...
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