javeajag Posted October 4, 2013 Report Share Posted October 4, 2013 Is being held on 25 oct at 6pm Quick look at the accounts indicates turnover at £1.5m and we basically broke even Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted October 4, 2013 Report Share Posted October 4, 2013 Is being held on 25 oct at 6pm Quick look at the accounts indicates turnover at £1.5m and we basically broke even Thought we were in for a cracker of a financial season, big crowds, cup finals etc Now who says we don't need the TAG, CF and DVD revenue??? Quote Link to comment Share on other sites More sharing options...
Scamps Posted October 4, 2013 Report Share Posted October 4, 2013 Thought we were in for a cracker of a financial season, big crowds, cup finals etc Now who says we don't need the TAG, CF and DVD revenue??? I guess it will depend on how much of the debt has been paid whether it's been a cracker or not. Breaking even is the minimum I expect from the club, if turnover is also up significantly then good. We won't make any profit IMO while we owe the bank and other creditors. Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted October 4, 2013 Report Share Posted October 4, 2013 I guess it will depend on how much of the debt has been paid whether it's been a cracker or not. Breaking even is the minimum I expect from the club, if turnover is also up significantly then good. We won't make any profit IMO while we owe the bank and other creditors. good point if we have broken even by paying more of the debt than previous years then good but if not then not so good Quote Link to comment Share on other sites More sharing options...
read'n'yell Posted October 4, 2013 Report Share Posted October 4, 2013 The loss of the warriors will of counter-balanced any crowd increase. Quote Link to comment Share on other sites More sharing options...
Fawlty Towers Posted October 4, 2013 Report Share Posted October 4, 2013 Is being held on 25 oct at 6pm Quick look at the accounts indicates turnover at £1.5m and we basically broke even Are we talking small profit or small loss? Quote Link to comment Share on other sites More sharing options...
javeajag Posted October 4, 2013 Author Report Share Posted October 4, 2013 Small profit Quote Link to comment Share on other sites More sharing options...
CCjag Posted October 4, 2013 Report Share Posted October 4, 2013 (edited) Not received papers yet, but I' m sure they will make interesting reading. Contingent liabilities due to Europa, for example? Edited October 4, 2013 by CCjag Quote Link to comment Share on other sites More sharing options...
Blackpool Jags Posted October 5, 2013 Report Share Posted October 5, 2013 I'd be interested to know what the reference period is for these accounts; I suspect they cover the period last year just before things took off good style. Income-wise things seem to have taken a big upturn roughly from the time of the Morton game midweek when we had a packed house, then the Rammy final etc etc, promotion blah blah blah. We were even talking about not finishing off the bank debt purely because of the early repayment penalties; that would've indicated that we were effectively fully solvent BEFORE we moved upstairs to be greeted by the honeypot that is the Premiership and all that goes with it. Whether or not these points are of any significance, we do appear to have a viable and thriving PTFC, both on and off the park. Maybe my atheism is a wee bit misplaced. 1 Quote Link to comment Share on other sites More sharing options...
Jagtastic Posted October 5, 2013 Report Share Posted October 5, 2013 I'd just like to know if a certain propco arrangement is having an effect on where monies from crowds that are housed in the main stand end up. I.e. Are the thistle minded investors getting a slice of their combined 50% ownership on a weekly basis now? Quote Link to comment Share on other sites More sharing options...
Jaggernaut Posted October 5, 2013 Report Share Posted October 5, 2013 I'd just like to know if a certain propco arrangement is having an effect on where monies from crowds that are housed in the main stand end up. I.e. Are the thistle minded investors getting a slice of their combined 50% ownership on a weekly basis now? If they are indeed getting a slice, then they are bleeding the club. Quote Link to comment Share on other sites More sharing options...
amsterdam jag Posted October 5, 2013 Report Share Posted October 5, 2013 good point if we have broken even by paying more of the debt than previous years then good but if not then not so good Debt will be a balance sheet item so if we have repaid any debt it will not have any effect on the break even position apart from amount of interest paid. i assume the OP was talking about breaking even on the profit and loss account. Can someone confirm as well please the period these accounts cover. Quote Link to comment Share on other sites More sharing options...
Fawlty Towers Posted October 5, 2013 Report Share Posted October 5, 2013 Debt will be a balance sheet item so if we have repaid any debt it will not have any effect on the break even position apart from amount of interest paid. i assume the OP was talking about breaking even on the profit and loss account. Can someone confirm as well please the period these accounts cover. Going by previous years the accounts cover from the 1st of June to 31st of May so these will be from 01/06/12 - 31/05/13. Quote Link to comment Share on other sites More sharing options...
Scamps Posted October 5, 2013 Report Share Posted October 5, 2013 Going by previous years the accounts cover from the 1st of June to 31st of May so these will be from 01/06/12 - 31/05/13. So won't have increased expenditure on wages or increased income now we're in the 'Premiership'! Quote Link to comment Share on other sites More sharing options...
lady-isobel-barnett Posted October 5, 2013 Report Share Posted October 5, 2013 Going by previous years the accounts cover from the 1st of June to 31st of May so these will be from 01/06/12 - 31/05/13. That period then obviously includes some exceptionally high home attendances plus the receipts from the Challenge Cup final. Iirc any compo from Dundee Utd/McNamara would not have been received by then but leaving that aside the extra gate takings should leave the Club that was budgeting to break even with healthy enough accounts. Quote Link to comment Share on other sites More sharing options...
David Stevenson Posted October 5, 2013 Report Share Posted October 5, 2013 That period then obviously includes some exceptionally high home attendances plus the receipts from the Challenge Cup final. Iirc any compo from Dundee Utd/McNamara would not have been received by then but leaving that aside the extra gate takings should leave the Club that was budgeting to break even with healthy enough accounts. At the Pars 3-3 game, I was at hospitality and Maxi mentioned in an aside that the club had benefited from higher income but that the good results had also benefited the players through bonuses. Quote Link to comment Share on other sites More sharing options...
lady-isobel-barnett Posted October 5, 2013 Report Share Posted October 5, 2013 At the Pars 3-3 game, I was at hospitality and Maxi mentioned in an aside that the club had benefited from higher income but that the good results had also benefited the players through bonuses. Good point. You'd have to offset win bonuses and of course winning the league bonuses against increased gate receipts. Quote Link to comment Share on other sites More sharing options...
amsterdam jag Posted October 5, 2013 Report Share Posted October 5, 2013 If we look at our position and compare it to last years 3rd Division Champions accounts then we are obviously a well run club financially. No outrageous bonuses etc paid to players for winning the league or reaching Ramsdens Cup Final. If we have made a small profit then I am happy. Next years accounts should show the benefits of what happened last season - increased tv money etc etc. The MacNamara compensation could well have been included in the accounts just published. It was obvious that we were due compensation so the club would be entitled to put something through as "accrued income", the club wouid have to have agreed how much with the auditors based upon any documentation available and being prudent. If anything, then a lower figure than what was actually received would have been included in the accounts with any excess forming part of this coming seasons accounts. Quote Link to comment Share on other sites More sharing options...
kevin energy Posted October 5, 2013 Report Share Posted October 5, 2013 I got a please come to the royal mail to pick up a letter £1.09 went down paid it and guess what letter it was yes it was the thistle AGM letter Quote Link to comment Share on other sites More sharing options...
Norgethistle Posted October 5, 2013 Report Share Posted October 5, 2013 I got a please come to the royal mail to pick up a letter £1.09 went down paid it and guess what letter it was yes it was the thistle AGM letter Thats how we will make a profit, not put stamps on the letters we send out Quote Link to comment Share on other sites More sharing options...
Veejag Posted October 6, 2013 Report Share Posted October 6, 2013 Don't forget about the money put in to improve the stadium. Main Stand facilities and Bing aside, I think the ground looks good. Quote Link to comment Share on other sites More sharing options...
lady-isobel-barnett Posted October 6, 2013 Report Share Posted October 6, 2013 Don't forget about the money put in to improve the stadium. Main Stand facilities and Bing aside, I think the ground looks good. I'd have thought these costs are more likely to be factored into the next set of accounts. Quote Link to comment Share on other sites More sharing options...
Fawlty Towers Posted October 6, 2013 Report Share Posted October 6, 2013 Being sad I dug out the accounts for the last few seasons and if we look at some of the figures from 2009 and 2012 it makes interesting reading (I think). 2009 Creditors (falling due within 1 year): £951,386 Creditors (falling due after more than 1 year): £856,529 Cash in Hand: £1,000 2012 Creditors (falling due within 1 year): £851,020 Creditors (falling due after more than 1 year): £214,798 Cash in Hand: £18,163 Hopefully the accounts for 2013 will show that this positive trend is continuing. Quote Link to comment Share on other sites More sharing options...
David Stevenson Posted October 6, 2013 Report Share Posted October 6, 2013 Being sad I dug out the accounts for the last few seasons and if we look at some of the figures from 2009 and 2012 it makes interesting reading (I think). 2009 Creditors (falling due within 1 year): £951,386 Creditors (falling due after more than 1 year): £856,529 Cash in Hand: £1,000 2012 Creditors (falling due within 1 year): £851,020 Creditors (falling due after more than 1 year): £214,798 Cash in Hand: £18,163 Hopefully the accounts for 2013 will show that this positive trend is continuing. Wasn't about £800K raised via the Propco set-up? If that were the case, the debt hasn't fallen much at all outwith that transaction (would work out at £58K reduction over that 3-year period) assuming we were not owed significant sums by anyone in either of those years. If the Propco input was less, then obviously the reduced debt would be correspondingly more impressive. Quote Link to comment Share on other sites More sharing options...
Fawlty Towers Posted October 12, 2013 Report Share Posted October 12, 2013 Had the chance to download the accounts from Companies House and there were a couple of things that I found odd. Now that could just be me as I don't claim to be an expert on accounts/finances but it would be interesting to hear what others who do know about these things think. If anyone wants to see the accounts just PM me with your e-mail address and I will send them to you. What I found odd was that although the cash at bank rose to £36K from £18K in 2012 our debtors rose to £255K from £37K. Also, creditors failing due within 1 year rose from £851K to £1.1M. I assumed that we would have reduced this but it could be something perfectly explainable. Quote Link to comment Share on other sites More sharing options...
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