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Accounts to 31st May 2022


Fawlty Towers
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The one thing about accounts that I do know is they are telling you about things that have happened (if I was an accountnt I would now be billing you for that insight).

If we are looking at what is happening now compared to last season - attendances are actually higher now than last's seasons average although how they hold up over the winter period and/or results not improving is an unknown. We don't have Queens Park groundsharing but Rangers Youths have played their Champions League games at Firhill and there is a Scotland U19 match later this month so some income from these. The one area of the club that is certainly performing well in the Commercial Dept (Lesley Ann has been a great appointment) and matchday hospitality is certainly busier along with sponsorships. However we also had to spend money on the pitch in the summer along with repairs to the Colin Weir Stand roof so that will have eaten in to the budget.

I hope prior to the AGM the PTFC Trust will come out and ask what questions its benificiaries want raised so we can get an indication of where we are at the moment in terms of breaking even this season.

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14 minutes ago, Lambies Lost Doo said:

ffs.  law and accounting.  

to me it's deliberately complicated to keep a lot of people in well paid jobs.

the land firhill is on is not prime real estate.  not that big in an area that is not that desireable.  its ok but not finnieston or shawlands.

They have changed from land value to the value if a new stadium was built on the site. 

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1 hour ago, jagfox said:

They have changed from land value to the value if a new stadium was built on the site. 

 

1 hour ago, jagfox said:

I welcome the coming announcement of our £15 million super stadium.

Bagz first on the monorail!

I can see Jlow taking note of the above and working them into next year's accounts. Next year it won't be just the the value of land if we built a new stadium but it will be the value of the land with a new stadium and a new monorail on it. Next year we're going to be loaded!

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I did, years ago, get asked to give an opinion on the value of Firhill on the basis of build cost.

I didn't know, but always assumed, that this was to achieve a particular Balance Sheet covenant for the bank - this would have been when Bank of Scotland provided funding to all but one of the SPL teams and clubs found borrowing relatively easy.

Hard to say why this is being done now.  Any business that actually owns the property that PTFC does and has the small turnover they do should easily have a very positive balance sheet unless something has gone wrong (eg lots of debt, which is not the case we understand).  The challenge would always be cashflow I'd imagine.  I don't know enough about estate law or accounting but I'd hope that 'donations' couldn't be arbitrarily turned into 'liabilities' after they'd been made (and to be clear I'm not suggesting anything of the sort).

 

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17 minutes ago, Lambies Lost Doo said:

Going off topic but I would love a new stadium.  If it was moved from Firhill but in a place nearish and accessible I'd be fine with that.

Cumbernauld? The way things are going we could move in with the women's team.

Edited by Garscube Road End 2
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3 hours ago, lady-isobel-barnett said:

Not a mention of the training complex in Twechar. How's it doing?

Even ahead of the "development" of the city end of Firhill, Twechar is maybe the biggest embarrassment ever for PTFC after all the fanfares and media articles, not to mention what I consider to be the totally shameful misuse of Dave McParland's name (note: I changed abuse to misuse).

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4 minutes ago, Jaggernaut said:

Even ahead of the "development" of the city end of Firhill, Twechar is maybe the biggest embarrassment ever for PTFC after all the fanfares and media articles, not to mention what I consider to be the totally shameful misuse of Dave McParland's name (note: I changed abuse to misuse).

The proposed training facility at Twechar was linked to the city end debacle, but agree about the more recent Kirkintilloch training facility failure.

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On 11/3/2022 at 8:15 AM, Fawlty Towers said:

The one thing about accounts that I do know is they are telling you about things that have happened (if I was an accountnt I would now be billing you for that insight).

If we are looking at what is happening now compared to last season - attendances are actually higher now than last's seasons average although how they hold up over the winter period and/or results not improving is an unknown. We don't have Queens Park groundsharing but Rangers Youths have played their Champions League games at Firhill and there is a Scotland U19 match later this month so some income from these. The one area of the club that is certainly performing well in the Commercial Dept (Lesley Ann has been a great appointment) and matchday hospitality is certainly busier along with sponsorships. However we also had to spend money on the pitch in the summer along with repairs to the Colin Weir Stand roof so that will have eaten in to the budget.

I hope prior to the AGM the PTFC Trust will come out and ask what questions its benificiaries want raised so we can get an indication of where we are at the moment in terms of breaking even this season.

Sorry for quoting myself but again we have sold out hospitality and 3 sponsors for a match, so well done Lesley Ann :clapping:

https://ptfc.co.uk/ptfc-news/dundee-hospitality-sold-out/

Also, on Companies House the confirmation statement has been submitted as well as the notifications that 3BC is no longer a person with significant control and PTFC Trust is a person with significant control (all from 20th Sept).

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1 hour ago, Fawlty Towers said:

Sorry for quoting myself but again we have sold out hospitality and 3 sponsors for a match, so well done Lesley Ann :clapping:

https://ptfc.co.uk/ptfc-news/dundee-hospitality-sold-out/

Also, on Companies House the confirmation statement has been submitted as well as the notifications that 3BC is no longer a person with significant control and PTFC Trust is a person with significant control (all from 20th Sept).

Lesley Ann is a gem, one of the few behind the scenes at the moment who is doing good things for the fans and the Club. 

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  • 1 month later...
  • 2 months later...

Another couple of Championship clubs (Raith and Morton) have submitted their accounts. I am sure someone on here will be able to explain how they compare to ours in general.

I recall TJF stating they were going to do an analysis of all Championship club's accounts when we published ours - is that still a thing or have recent events changed that?

https://find-and-update.company-information.service.gov.uk/company/SC026287/filing-history

https://find-and-update.company-information.service.gov.uk/company/SC003264/filing-history

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1 hour ago, Fawlty Towers said:

Another couple of Championship clubs (Raith and Morton) have submitted their accounts. I am sure someone on here will be able to explain how they compare to ours in general.

I recall TJF stating they were going to do an analysis of all Championship club's accounts when we published ours - is that still a thing or have recent events changed that?

https://find-and-update.company-information.service.gov.uk/company/SC026287/filing-history

https://find-and-update.company-information.service.gov.uk/company/SC003264/filing-history

Looks like both of them have made 200K losses. Morton have also done some funny stuff, probably around their fan ownership.

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4 hours ago, Fawlty Towers said:

Another couple of Championship clubs (Raith and Morton) have submitted their accounts. I am sure someone on here will be able to explain how they compare to ours in general.

I recall TJF stating they were going to do an analysis of all Championship club's accounts when we published ours - is that still a thing or have recent events changed that?

https://find-and-update.company-information.service.gov.uk/company/SC026287/filing-history

https://find-and-update.company-information.service.gov.uk/company/SC003264/filing-history

Hi Martin

 

Indeed, we said we would do a comparison table of net current assets once more accounts published; net current assets being the 'margin of safety'. It remains our intention to publish that to members as promised.

Edited by jaf
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On 2/25/2023 at 9:56 PM, jaf said:

Hi Martin

 

Indeed, we said we would do a comparison table of net current assets once more accounts published; net current assets being the 'margin of safety'. It remains our intention to publish that to members as promised.

Another club to add to the list and even my untrained eye can see it is not very good for ICT.

https://find-and-update.company-information.service.gov.uk/company/SC149117/filing-history

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