Accounts

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Hoop Blah
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Re: Accounts

by Hoop Blah » 31 Jan 2014 10:51

Vision I'm pretty certain last time we got relegated the wage bill was around the £33-35m mark.

More surprisingly to me was the previous year's £26.5m wage bill which is to my rather dodgy memory double what the 106 team's was.

So effectively in two seasons we lost 14m despite a successful promotion campaign and a year of Premiership money.

No wonder Anton shit himself.


Yep, '05-06 wages were only £12.5m, just a little more than income that season. Paying out £26.5m in wages when we went up with revenues of £14.8m shows a totally different approach to my mind, and shows the 'Brian on a Budget' train of thought is a still a little off the mark.

£46m on wages would've put us above Swansea, Norwich, Wolves and Wigan in the 2011-12 season, and just £4m behind West Brom and Blackburn. Interestingly, and to answer someone elses question regarding QPR, their wages for that Premier League season were £58m.

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Re: Accounts

by EverHopeful » 01 Feb 2014 21:10

Not downloaded accounts but think after a couple of comments earlier, it must be done

How the hell can we owe TSI £19m after a year, yet SJM loan has remained pretty confident over the last 15+ years. Suggests to me that a holding company paid SJM the original purchase price with this to be repaid from the club - no wonder we have no money now................will download on Monday as that is just wrong.

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Re: Accounts

by Cypry » 01 Feb 2014 22:51

EverHopeful Not downloaded accounts but think after a couple of comments earlier, it must be done

How the hell can we owe TSI £19m after a year, yet SJM loan has remained pretty confident over the last 15+ years. Suggests to me that a holding company paid SJM the original purchase price with this to be repaid from the club - no wonder we have no money now................will download on Monday as that is just wrong.


It's not wrong, we used to owe SJM in excess of £28M.....
We now owe TSI £19M+ and SJM £9M+ - doesn't take a genius to worth out that TSI have repaid 2/3 of the loans owed to SJM and converted them to loans from themselves....

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Re: Accounts

by 3points » 02 Feb 2014 23:21

Cypry EverHopeful wrote:
Not downloaded accounts but think after a couple of comments earlier, it must be done

How the hell can we owe TSI £19m after a year, yet SJM loan has remained pretty confident over the last 15+ years. Suggests to me that a holding company paid SJM the original purchase price with this to be repaid from the club - no wonder we have no money now................will download on Monday as that is just wrong.


It's not wrong, we used to owe SJM in excess of £28M.....
We now owe TSI £19M+ and SJM £9M+ - doesn't take a genius to worth out that TSI have repaid 2/3 of the loans owed to SJM and converted them to loans from themselves....

Exactly right. and most of that transaction took place in the year the buyout took place - ie in the accounts for the year ended 30 June 2012

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Re: Accounts

by Cypry » 03 Feb 2014 16:39

Just downloaded a copy of the accounts out of interest - a few things stood out to me....

1) Kebe and Mariappa fees are detailed in note 24 - £3.5M total - I've heard some wildly higher figures mentioned on occasion.
2) We spent nearly £2M (£1,987,326) on incoming players in the Summer (I assume Williams / Drenthe / Bridge and possibly signing fees for some of those who renewed).
3) The wages jumped by £20M from 2012-2013, but admin and matchday staff levels stayed about the same. We did, however, jump from 42 to 53 players, and had a massive increase in the number of coaching staff from 56 in 2012 to 81 in 2013.
4) We paid a management fee of £300k to TSI - that seems to have been about the only money flowing in that direction.
5) As I speculated above, the overall amount of loans from SJM and TSI combined have increased slightly (by £1M). TSI repaid a further £3M to SJM and took on the increase of £1M into their loan, a total increase of £4M that they put into the club.
6) The total fixed assets hasn't really changed, but there's been a significant reduction in fixtures and fittings, with a corresponding increase in freehold land and buildings (I suspect that some of the "temporary" buildings used for the academy/training ground have been reclassified as permanent buildings.

The most important thing, is that there is no evidence whatsoever of TSI having taken anything out of the club (so those claiming that there is an asset strip under way are demonstrably wrong) - in fact, quite the contrary, the cash flow has been from TSI into the club. The only person who is taking money out right now is SJM through the repayment of his chairmans loans...


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Harpers So Solid Crew
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Re: Accounts

by Harpers So Solid Crew » 04 Feb 2014 04:25

See this is where things get confused, Kebe and Marriappa left in account year, 2013/14, which are not out yet,

The wages jumped by £20M from 2012-2013, so that is also 2013/14???

Sorry Cypry, damn fine fella here and always talk sense, but your post makes no sense. The dates dont tie in.

JM took nothing out, his loans were repaid by loans that TSI brought in???? IF those loans were short term and due to be repaid, 2013/14, then that would leave us short.

If those loans attract realistic interest then that would not help either.

WHat is the actual account period that is being talked about here?

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Re: Accounts

by Cypry » 04 Feb 2014 06:47

Harpers So Solid Crew See this is where things get confused, Kebe and Marriappa left in account year, 2013/14, which are not out yet,

The wages jumped by £20M from 2012-2013, so that is also 2013/14???

Sorry Cypry, damn fine fella here and always talk sense, but your post makes no sense. The dates dont tie in.

JM took nothing out, his loans were repaid by loans that TSI brought in???? IF those loans were short term and due to be repaid, 2013/14, then that would leave us short.

If those loans attract realistic interest then that would not help either.

WHat is the actual account period that is being talked about here?


The accounts end June 2013, however, the part I'm referring to is:

24: Post Balance Sheet Events

Since the year end, the company has acquired players' registrations at a cost of £1,987,326 (2012 £5,286,452) The company has also sold players' registrations for proceeds of £3,500,000 (2012 £650,000)


So quite plainly it details what we received for Kebe and Mariappa, despite those transactions not actually falling in the accounting period.
That's the only part of the comments that I made which relates to anything outside of FY 2012-13, everything else I mentioned is in the accounting period. When I talked about the wages jumping, I could have used a different term (the accounts just refer to 2012 figures and 2013 figures - the year end date) - for clarity they jumped by nearly £23M from £23,444,617 in FY2011/12 to £46,171,340 in FY2012/13.

I'm not sure on the terms of the loans that TSI have made to us, but the accounts do show that a proportion of SJM's loans were repaid (he received monies to pay them back to the tune of some £3M) and replaced by loans from TSI themselves - where TSI got the money from is anybodies guess, but they are clearly loans from TSI to the club, not loans from a bank (or other commercial lender) to the club...

Hope that clarifies things....

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Royal Lady
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Re: Accounts

by Royal Lady » 04 Feb 2014 11:56

Did Kebe and Mariappa both leave before end of June 2013?

Cypry
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Re: Accounts

by Cypry » 04 Feb 2014 12:12

Royal Lady Did Kebe and Mariappa both leave before end of June 2013?


No - that's why it's listed under POST BALANCE SHEET EVENTS...











I despair sometimes....


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Royal Rother
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Re: Accounts

by Royal Rother » 04 Feb 2014 12:35

:lol:

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Royal Lady
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Re: Accounts

by Royal Lady » 04 Feb 2014 12:42

Cypry
Royal Lady Did Kebe and Mariappa both leave before end of June 2013?


No - that's why it's listed under POST BALANCE SHEET EVENTS...











I despair sometimes....

:lol: I didn't see that bit :oops:

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Harpers So Solid Crew
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Re: Accounts

by Harpers So Solid Crew » 05 Feb 2014 04:41

Ty Cypry for that explanation

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Ian Royal
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Re: Accounts

by Ian Royal » 08 Feb 2014 22:08

Good job Cypry


westendgirl
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Re: Accounts

by westendgirl » 08 Apr 2014 12:56

STAR has posted the now annual analysis of the accounts on its website. It is an interesting analysis as the author is allowed to ask questions of the club to clarify some matters rather than just based on assumptions.

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ZacNaloen
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Re: Accounts

by ZacNaloen » 08 Apr 2014 14:02

Link?

westendgirl
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Re: Accounts

by westendgirl » 08 Apr 2014 14:19

ZacNaloen Link?


http://star-reading.org/

it is the 4th under latest news

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Re: Accounts

by ZacNaloen » 08 Apr 2014 14:30

cheers

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Ian Royal
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Re: Accounts

by Ian Royal » 08 Apr 2014 19:41

Ta.

Bit of a frightening read.

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Re: Accounts

by ayjaydee » 08 Apr 2014 22:28

Ian Royal Ta.

Bit of a frightening read.

Yeah but where's all the money gone?

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Re: Accounts

by Green » 08 Apr 2014 22:32

ayjaydee
Ian Royal Ta.

Bit of a frightening read.

Yeah but where's all the money gone?

Players wages.

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