| 2023 accounts 17:43 - Mar 31 with 1913 views | judd |
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| 2023 accounts on 19:10 - Mar 31 with 1732 views | 442Dale |
Not an expert by a long way, but is this level of detail what we can expect after that resolution was voted through at the EGM?
It never made any sense at all to back that. For the sake of saving 10-15k it was never going to be a dealbreaker for any prospective investor - if it was it would raise concerns. Also, any argument about saving money currently were rendered pointless after what supporters were told around voting ‘yes/no’ around issuing new shares.
What are the main issues and concerns from these accounts? |  |
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| 2023 accounts on 20:27 - Mar 31 with 1549 views | judd |
| 2023 accounts on 19:10 - Mar 31 by 442Dale |
Not an expert by a long way, but is this level of detail what we can expect after that resolution was voted through at the EGM?
It never made any sense at all to back that. For the sake of saving 10-15k it was never going to be a dealbreaker for any prospective investor - if it was it would raise concerns. Also, any argument about saving money currently were rendered pointless after what supporters were told around voting ‘yes/no’ around issuing new shares.
What are the main issues and concerns from these accounts? |
The detail in the link is a snapshot. Nevertheless, rhe filed accounts are somewhat lacking in detail previously available in annual filings.
The main issues are a lack of commentary, an explanation of cause of loss, source and repayment terms of loans, the latter elements not normally available from filed accounts but should either feature in a detailed P&L shared either shareholders or as answers to questions at an AGM. | |
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| 2023 accounts on 21:34 - Mar 31 with 1405 views | Dalenet |
| 2023 accounts on 20:27 - Mar 31 by judd |
The detail in the link is a snapshot. Nevertheless, rhe filed accounts are somewhat lacking in detail previously available in annual filings.
The main issues are a lack of commentary, an explanation of cause of loss, source and repayment terms of loans, the latter elements not normally available from filed accounts but should either feature in a detailed P&L shared either shareholders or as answers to questions at an AGM. |
As you say, the detail on turnover and player sales etc is now no longer reported. It is hard to see how the losses were so high when we were still benefiting from league payments. And it seems that staff numbers increased. The Chairman implied that the club had been through costs forensically and was now in a better position. I can understand the extra costs of utilities - but I suspect the extra spend on players, and the cost of sacking two managers killed us. We certainly don't appear to have cut costs appropriately. Add to that no cup runs and reduced attendances as we fought relegation again, and there was no buffer. I can only assume that the "other borrowings" are director loans. Or did we borrow more from the council 12 months ago that we didn't tell shareholders about? I have no idea. But these accounts show exactly why we had to cut costs faster than we have. The playing budget in 2022/23 was very very unaffordable would be my take - why else would we have needed to borrow so much. And remember we sold £100k worth of shares to fans just before this - it made no difference whatsoever. |  | | |
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