County Cobbler
|
|
« on: February 16, 2011, 14:21:56 pm » |
|
Realism hit when I read through NTFC's latest set of accounts I received this morning. Turnover was down £1 million pounds from 2009 to 2010. Whilst £400K has been saved in costs it still leaves Gross profit down £600K and a loss of £245K for the financial year to 30 6 2010. In my amateur accounting opinion it is not as bad as most clubs balance sheets but it emphasises that we require the ground expanding to offer 7 days per week trading URGENTLY. With the local elections just over two months away maybe now is the time to put in a planning application with say Waitrose or a garden centre company to give the club some chance of a brighter future. It also puts into perspective the foolish comments on other threads to go and get a target man or centre half or a new keeper!
|
|
|
|
|
Power Football
|
|
« Reply #1 on: February 16, 2011, 14:24:48 pm » |
|
It also puts into perspective the foolish comments on other threads to go and get a target man or centre half or a new keeper!
There hardly foolish. Sometimes you have to speculate to accumulate and the only way we will regain that turnover is by having a succesful side capable of promotion.
|
|
|
|
threeinabed
|
|
« Reply #2 on: February 16, 2011, 14:25:48 pm » |
|
what ?! cobblers in ground expansion requirement shocker!! hold the phone!!
ridiculous
|
|
|
|
Grove
|
|
« Reply #3 on: February 16, 2011, 14:28:57 pm » |
|
The Hotel End / Cobblers Corner / Loan signing on: February 06, 2011, 08:47:58 am Most fans believe we require a physical target man....over to you Sammo. Andy , short memory mate
|
|
|
|
County Cobbler
|
|
« Reply #4 on: February 16, 2011, 14:31:01 pm » |
|
|
|
|
|
Whytewell
|
|
« Reply #5 on: February 16, 2011, 16:17:04 pm » |
|
1. Quote from the Auditors:
"We draw your attention to the financial statements which indicate that the Company had net current liabilities at the balance sheet date of £677,261 and net liabilities of £7,708,893. These conditions indicate the existence of a material uncertainty which may cast significant doubt about the Company's ability to continue as a going concern".
2. Net profit in 2009 - £276,902. Net loss in 2010 £245,997.
3. Note to the Financial Statements:
"The financial statements have been prepared on a going concern basis. They indicate that in excess of £2.3 million has been loaned to the company by the Chairman, at the balance sheet date. Further monies have been loaned to the company since that date. The advances have been used to repay key creditors and to support the company's ongoing operations.
Due to the continuing support of the Chairman and other directors who are owed money by the company, the directors believe that it is appropriate to prepare the financial statements on the going concern basis, which assumes that the company will continue in operational existence for at least 12 months following the date at which these financial statements have been signed.
If the Chairman and other creditors of the company were to withdraw their support, the company would be unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet value of assets to their recoverable amounts, and to provide for further liabilities that might arise, and to reclassify fixed assets and long-term liabilities as current assets and liabilities".
Food for thought.
|
|
|
|
Luton Cobbler
|
|
« Reply #6 on: February 16, 2011, 16:20:52 pm » |
|
Already a thread on this topic
|
|
|
|
SATURDAY BANANA
|
|
« Reply #7 on: February 16, 2011, 16:25:55 pm » |
|
Thankyou Mr Cardoza I'd say.... I'm sure most wont though.
|
|
|
|
SteveRiches
|
|
« Reply #8 on: February 16, 2011, 16:27:00 pm » |
|
I'm no accountant, but I think it means we are in no worse a position than we were, the £7 million+ has been hanging over our heads for ages, that's underwritten by the current owners, so stop being horrible to Mr Cardoza or you will have to open your piggy-bank.
|
|
|
|
Grove
|
|
« Reply #9 on: February 16, 2011, 16:54:17 pm » |
|
Net liabilities of 7.7 million Chairmans loan of 2.3 million Who does the club owe the rest too, or am i missing something
|
|
|
|
Whytewell
|
|
« Reply #10 on: February 16, 2011, 17:08:07 pm » |
|
Apologies for duplicating the thread, but to be honest I can't be arsed to retype all my first post into the other thread.
|
|
|
|
Marvo
|
|
« Reply #11 on: February 16, 2011, 17:14:23 pm » |
|
Apologies for duplicating the thread, but to be honest I can't be arsed to retype all my first post into the other thread. You didn't have to, just quote it, paste it on the other thread then delete the quotes.
|
|
|
|
wazzacobbler
|
|
« Reply #12 on: February 16, 2011, 17:44:54 pm » |
|
In short... are we f*cked?
|
Host and Producer of the It's All Cobblers To Me podcast @CobblersToMe @charlescommins
|
|
|
County Cobbler
|
|
« Reply #13 on: February 16, 2011, 18:10:24 pm » |
|
Totally dependant on the Cardoza family what the future holds.
|
|
|
|
guest216
|
|
« Reply #14 on: February 16, 2011, 18:24:53 pm » |
|
In short... are we f*cked? No more so than nearly every other club in this league and the one above. But likes been said, it puts some perspective when you have people demanding we bring in another keeper, a new defence and a target man when we've already splashed out considerably compared to most.
|
|
|
|
Marvo
|
|
« Reply #15 on: February 16, 2011, 18:27:56 pm » |
|
Totally dependant on the Cardoza family what the future holds.
Are you Yoda?
|
|
|
|
SATURDAY BANANA
|
|
« Reply #16 on: February 16, 2011, 18:38:42 pm » |
|
Are you Yoda?
Hhahahahahaha fookin funny i find that..
|
|
|
|
sxcobbler
|
|
« Reply #17 on: February 16, 2011, 21:13:00 pm » |
|
Net liabilities of 7.7 million Chairmans loan of 2.3 million Who does the club owe the rest too, or am i missing something Net Liabilities £7.7 m Less Current Liabilities £0.7 m amounts to Creditors , falling due after 1 year, amount to £7.0 m viz. Directors Loan accounts amount to £6.7 m & Other Creditors £0.3 m
|
Let's show some Ambition !
|
|
|
Ted
|
|
« Reply #18 on: February 16, 2011, 21:59:08 pm » |
|
The ship is actually quite steady. However, it's obvious that the club needs success on the pitch to keep it steady. I'm pretty sure that the Cardozas won't be making any major investment in the club in the forseeable future, but it's also in their interest as owners of the club to endeavour to progress.Bit of a catch 22 situation really, and I'm sure the Carling Cup run was just what they had been praying for, as it brought in unexpected income.On the whole, I'd say we were in a favourable position compared to many of our rivals,but only in a lower league football club context. In any other industry but football, I'd say it was a failing business.
|
|
|
|
brickowski
|
|
« Reply #19 on: February 16, 2011, 22:32:11 pm » |
|
all about the long game init?
say the redev brings in 10m (and ive just pulled that number out of the air), then ntfc pays dc back his 7m, he pockets the 3m left over minus a bit to tart the ground up and rides off into the sunset (or stays and plays at being a footy chairman for as long as he fancies).
the doom scenario is the debt goes above the amount likely to be made from the redevelopment. if that happens then its probably afc cobblers in the ucl
|
there's only one Robbie Curtis
|
|
|
|