Financial Accounts Released (up to June 2018)

IdleHans

fmaddick said:

So the debt to the parent company has increased c. £4m. Is this just the interest, or has more money been loaned to the club this year? If so, where is this reflected in the accounts? (Probably missing something obvious, apologies)

Interest to the parent was £752K (2017: 695k).

The accounts say they've discounted the £7m of the historic (historicAL, you dipshits!) directors' loans at a rate of 3%, assuming that promotion to the prem is achieved at the earliest possible opportunity (ie 2 years, which seems prudent if unlikely). However, the value of these loans is stated at £6,043,538 which by my reckoning is discounting over a five year period. Perhaps another number cruncher might tell me where I (or they) have gone wrong in this calculation/statement.

guinnessaddick

Sure I heard Roland say he would give the club away for free.

LargeAddick

Airman Brown said:

N01R4M said:

Big in Brasov said:

ShootersHillGuru said:

I think his ego need bruising and a concerted effort to embarrass him both here and in Belgium is our only hope. How much would some billboard posters cost ? We have the talent to make them humorous and pointed. 

This has been considered but the problem is not necessarily the cost, but finding a billboard company prepared to run ads that criticise or might irritate RD

I assume a possible solution to this - although probably at prohibitive cost - would be a mobile billboard (like the ones accompanying the start of Farage's Brexit march) hired from a company based outside Belgium. 

Cost is prohibitive.

What about the Protest Fund and/or a CL whip round?

Covered End

Henry Irving said:

IdleHans said:

Charlton Athletic Holdings accounts are now available at Cos House. No increased valuation of investment property (land at The Valley and Sparrows La) this time, still at £11.7m. Nothing much to comment on other than that. Though I note from Co's House that KM has been appointed as a director once and yet resigned twice. What on earth happened there?

Thanks,

So Duchatelet the failure will sell the club for £1 and the land is, at his own valuation, worth £11.7m

But he wants £65m and turns down offers of £35m

That's some bloody expensive good will.

He's using Napa's valuation.

AFKABartram

IdleHans said:

 Though I note from Co's House that KM has been appointed as a director once and yet resigned twice. What on earth happened there?

Don’t know. Ask [ed. REDACTED]

IdleHans

Henry Irving said:

IdleHans said:

Charlton Athletic Holdings accounts are now available at Cos House. No increased valuation of investment property (land at The Valley and Sparrows La) this time, still at £11.7m. Nothing much to comment on other than that. Though I note from Co's House that KM has been appointed as a director once and yet resigned twice. What on earth happened there?

Thanks,

So Duchatelet the failure will sell the club for £1 and the land is, at his own valuation, worth £11.7m

But he wants £65m and turns down offers of £35m

That's some bloody expensive good will.

The 11.7m is just the land, not the developments on it. Those are owned by the football club, and showing at about £42m (IIRC) on the depreciated cost approach, which I can't be arsed to explain again.

Airman Brown

Imnot Athletic said:

Airman Brown said:

Imnot Athletic said:

£7.5m income and 17m operating costs so a £10m operating loss
This is offset by £4m in income from player sales. 
So owning Charlton has cost him about £6m in that year.  

We probably all agree that we are being run on a shoestring and further investment is needed in the squad and facilities.

Why would anyone want to buy a football club!

No the operating loss is £13.1m - about £1.5m of this is amortisation, which is real money already spent on buying players and £1.5m is depreciation, which is not.)

Amortisation isnt real money either, its effectively the depreciation of intangible assets.  You are right in that its mainly the write down of playing assets but its not cash spent, that cash was spent a long time ago.

Yes, it was spent a long time ago, but it’s still real money that was spent and has contributed to the debt. It hasn’t previously been counted in the annual loss.

Airman Brown

The football company accounts are released ahead of Baton each year for some reason. Some of the interest charged on the debt to Staprix only appears in the Baton accounts.

The interest charged to Baton in 16/17 was £1.1m, so it’s likely to be a bit more when the parent company accounts eventually appear. The figure in the CAFC Ltd accounts is misleading.

The difference is the interest he charges the club on what was effectively its own purchase price in 2014. 

aliwibble

What's the "unrealised surplus on revaluation of leasehold property" bit about?

Airman Brown

aliwibble said:

What's the "unrealised surplus on revaluation of leasehold property" bit about?

I think it means an increase in the book value of the assets that hasn’t been reflected in the annual profit and loss.

_MrDick

Edited

The Baton 2010 accounts are now on the companies house website. It doesn't tell us anything new but, interestingly, the 'directors' (ahem) have revalued the land and buildings from its original value of £31.5m to £56.6m. Is this Roland's justification for bumping up the sale price

Potential buyer: I'll give you £30m for the Cloob

Roland: But the audited accounts show the value of the L&B is £56m. If you want it, it's yours for £70m


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Henry Irving

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Weegie Addick

Before we get carried away here, I don't think that is correct. Next to no change in the values between 17 and 18. The increase happened gradually before that.

IdleHans

Quite right @Weegie Addick
The only rise this year is due to money spent, not revaluations.

Rob7Lee

The increase is £2.228m for leasehold improvements (training ground work?) and £323k Ground and office equipment plus £20k for motor vehicles. There's been no revaluation in the 2018 accounts by directors. On the same page you will see the £25.114m value which is the same as 2017.

_MrDick

Rob7Lee said:

The increase is £2.228m for leasehold improvements (training ground work?) and £323k Ground and office equipment plus £20k for motor vehicles. There's been no revaluation in the 2018 accounts by directors. On the same page you will see the £25.114m value which is the same as 2017.

Weegie Addick said:

Before we get carried away here, I don't think that is correct. Next to no change in the values between 17 and 18. The increase happened gradually before that.

IdleHans said:

Quite right @Weegie Addick
The only rise this year is due to money spent, not revaluations.

I’ve edited the my original post. I think my point is the accounts indicate that the land and buildings have been devalued by the directors rather than a body like the valuation office. On what basis would the value of the L&B increase from £31.5m to £56.6m unless you have made significant investment or bought up surrounding land. Is this a finger in the air job?

Edit: im referring to note 12 on page 25

Rob7Lee

It was last re-valued in June 2016 by Cushman & Wakefield.

Overall since the last re-valuation as above the total has gone from £53.3m in June 16 to £56.6m in June 18.

The big jump was between 15 & 16 with the revaluation (£41.7m to £53.3m).