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What's up with the accounts?

Bit of a boring one this but am going to go through the accounts page by page.

Comments

  • edited March 2017
    Good question Neil. I was wondering what was up with them too..

    I can tell you what's down in them though, about £13,500,000

    Poor attempt at a joke aside, where are they? There's a press release on the OS I believe, but I can't see them on Companies House yet?
  • edited March 2017
    LuckyReds said:

    Good question Neil. I was wondering what was up with them too..

    I can tell you what's down in them though, about £13,500,000

    Poor attempt at a joke aside, where are they? There's a press release on the OS I believe, but I can't see them on Companies House yet?

    I missed them as well first off mate, click on the link at the foot of the OS article. Hopefully they will be on line at Co's Hse in the next seven days.
  • Approved by the board on 28th November 2016 and then withheld from public scrutiny for as long as legally permissible, i.e. the next 4 months.
  • AshBurton said:

    Approved by the board on 28th November 2016 and then withheld from public scrutiny for as long as legally permissible, i.e. the next 4 months.

    Not too dissimilar to last year, signed off end Nov, lodged beginning March 2016 IIRC. Playing devils advocate though, why would you want to put these figures out in the public domain before you legally have to?
  • edited March 2017
    RedChaser said:

    LuckyReds said:

    Good question Neil. I was wondering what was up with them too..

    I can tell you what's down in them though, about £13,500,000

    Poor attempt at a joke aside, where are they? There's a press release on the OS I believe, but I can't see them on Companies House yet?

    I missed them as well first off mate, click on the link at the foot of the OS article. Hopefully they will be on line at Co's Hse in the next seven days.
    Cheers, I've just had a little peek again and found them.

    Looks quite interesting, and a few things have jumped out at me already actually.
    During the year, in accordance with FRS 102, land and buildings at the Valley and Sparows Lane Training Ground were revalued to reflect current market conditions. The revaluation generated an increase in value of £11.5m (2015: £nil), with an associated tax charge of £2.3m (2015: £nil) [..] Once the revaluation has been taken into account, it means that the total comprehensive loss for the year was £4.3m (2015: loss of £4.0m).
    Does this mean that, in essence, the club have gained £11.5m of assets as far as the books go.. even though nothing has changed? Similarly, it makes the loss look as though it's actually "only" £4.3m, a slight increase of £300,000, when compared to last year..?
  • AshBurton said:

    Approved by the board on 28th November 2016 and then withheld from public scrutiny for as long as legally permissible, i.e. the next 4 months.

    That's not a dissimilar situation to many companies and organisations. I don't think any inference should be read into the delay.
  • RedChaser said:

    AshBurton said:

    Approved by the board on 28th November 2016 and then withheld from public scrutiny for as long as legally permissible, i.e. the next 4 months.

    Not too dissimilar to last year, signed off end Nov, lodged beginning March 2016 IIRC. Playing devils advocate though, why would you want to put these figures out in the public domain before you legally have to?
    Agreed, as a private company they're perfectly entitled to do that. I also just saw that Airman pointed this out on twitter earlier in the day, so old news.
  • edited March 2017
    A revaluation of Fixed Assets is normally a book entry only which will increase reserves on the other side of the balance sheet by a like amount, I don't have the accounts open, does it look as if it has?

    Prior to any such revaluation there would have been a 'Hidden Reserve'.
  • Interest Payable:

    On loans from ultimate parent company - 2016: £781,000, 2015: £388,000
    I thought Roly was being generous, Katrien?
  • P 25 of 36. Leasehold property & improvements. Additions £2.125M, Revaluations £7.313M.

    What are these and is that revaluation reasonable ?
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  • AshBurton said:

    Approved by the board on 28th November 2016 and then withheld from public scrutiny for as long as legally permissible, i.e. the next 4 months.

    Tomorrow is the final instalment of Getting To Know The Network, and there's the risk that that in itself could be a real PR headache for them. (As the first episode was, due to the Roland/Powell emails.)

    In the past 4 months they've had numerous opportunities to release the accounts, the best time would arguably have been when Karl Robinson was appointed. This would've given the Press team a lot of material (i.e interviews) to release, and would've given the fans a distraction.

    Instead, poor old PR Tommy looks like he may have a bit of a tough end to the week. They're not the brightest, are they?
  • edited March 2017
    £55,652,000 owed to parent company (Staprix), an increase from £40,114,000 from the previous year.

    Some hypothesising below, just for those who don't feel like the debt being owed to Staprix is an issue:
    An increase of 27.9% - to put that in perspective, if that growth continued then it would double by June 2019 - and we'd be looking at owing Roland £111m. Pretty scary.

    2016/2017 -> £71,067,890
    2017/2018 -> £90,895,831
    2018/2019 -> £111,710,976

    Yes, I understand that it should never grow that way - as it grew not only by interest, but also by actual cash injections during a financially difficult period, and we're also in a lower league where the outgoings should be less - but it does demonstrate that this debt is not sustainable. "friendly" or not.
  • I must download them to have a laugh/cry

    No idea why they ended up filing them on the last day possible, as if that would make things better...
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