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Post by gasheadpirate on Mar 1, 2018 14:11:08 GMT
I see the 16/17 accounts are now out to shareholders. Club made an operating loss of just over £2m, plus a write-off of £900k being related to UWE. Report says Mr H Al-Qadi will support the club for at least 12 months from the date of the accounts (24 Feb). Does this mean they will sell next year or is this just a normal thing put into account statements?
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Peter Parker
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Richard Walker
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Post by Peter Parker on Mar 1, 2018 14:24:56 GMT
I see the 16/17 accounts are now out to shareholders. Club made an operating loss of just over £2m, plus a write-off of £900k being related to UWE. Report says Mr H Al-Qadi will support the club for at least 12 months from the date of the accounts (24 Feb). Does this mean they will sell next year or is this just a normal thing put into account statements? A normal thing. It said the same last year
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kingswood Polak
Without music life would be a mistake
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Post by kingswood Polak on Mar 1, 2018 18:28:53 GMT
I see the 16/17 accounts are now out to shareholders. Club made an operating loss of just over £2m, plus a write-off of £900k being related to UWE. Report says Mr H Al-Qadi will support the club for at least 12 months from the date of the accounts (24 Feb). Does this mean they will sell next year or is this just a normal thing put into account statements? PLUS a write off of 900K. Wow, just Effie wow. What the hell is going on ?
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Accounts
Mar 1, 2018 19:11:09 GMT
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Post by garystash on Mar 1, 2018 19:11:09 GMT
I see the 16/17 accounts are now out to shareholders. Club made an operating loss of just over £2m, plus a write-off of £900k being related to UWE. Report says Mr H Al-Qadi will support the club for at least 12 months from the date of the accounts (24 Feb). Does this mean they will sell next year or is this just a normal thing put into account statements? PLUS a write off of 900K. Wow, just Effie wow. What the hell is going on ? I guess Wael wasn't lying when he said the UWE negotiations were costing a lot, and we couldn't afford to keep revisiting points that had already been agreed.
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Peter Parker
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Richard Walker
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Accounts
Mar 1, 2018 20:11:06 GMT
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Post by Peter Parker on Mar 1, 2018 20:11:06 GMT
I see the 16/17 accounts are now out to shareholders. Club made an operating loss of just over £2m, plus a write-off of £900k being related to UWE. Report says Mr H Al-Qadi will support the club for at least 12 months from the date of the accounts (24 Feb). Does this mean they will sell next year or is this just a normal thing put into account statements? PLUS a write off of 900K. Wow, just Effie wow. What the hell is going on ? the Al Qadis are spending money?
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Deleted
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Post by Deleted on Mar 1, 2018 20:31:10 GMT
PLUS a write off of 900K. Wow, just Effie wow. What the hell is going on ? I guess Wael wasn't lying when he said the UWE negotiations were costing a lot, and we couldn't afford to keep revisiting points that had already been agreed. We have no idea whatsoever what was being said between the people who own our club and UWE. We know what Wael said, but it was so vague it didn't actually mean anything, and UWE themselves seemed quite surprised when the news broke, not the reaction I would have expected if negotiations had been going nowhere for months? Anyway, I would imagine the majority of the costs were to do with pipe dreams about building some kind of scaled down Wembley. Looks like we had champagne tastes and a lemonade budget.
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Post by pirate49 on Mar 1, 2018 21:24:52 GMT
I was told that the Al Qadi's have spent more on legal costs than the previous regime.
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Post by a more piratey game on Mar 2, 2018 0:30:30 GMT
It seems we lost £3m last financial year and this financial year, so £6m total. About £3.1m of that is UWE write-off. The current run-rate looks to be £2m loss per annum
It's really not for the faint-hearted, is it?
HAQ and WAQ seem to value expert advice. I wonder if part of that told them that £3.1m on UWE was enough? Surely if we're losing £2m a year at the Mem, which we don't fill, we'd be losing more at the UWE (unless crowds increase quite a lot)
I'm not sure that it explains the cash-shortage rumours tho - fence gate etc, and that noise about the players not being paid. Maybe that was due to different causes and some false rumours being spread about?
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Post by gasheadpirate on Mar 2, 2018 5:56:30 GMT
It seems we lost £3m last financial year and this financial year, so £6m total. About £3.1m of that is UWE write-off. The current run-rate looks to be £2m loss per annum It's really not for the faint-hearted, is it? HAQ and WAQ seem to value expert advice. I wonder if part of that told them that £3.1m on UWE was enough? Surely if we're losing £2m a year at the Mem, which we don't fill, we'd be losing more at the UWE (unless crowds increase quite a lot) I'm not sure that it explains the cash-shortage rumours tho - fence gate etc, and that noise about the players not being paid. Maybe that was due to different causes and some false rumours being spread about? The accounts say there was only a few thousand in the bank so cash flow may be an issue.
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Cheshiregas
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Post by Cheshiregas on Mar 2, 2018 9:12:32 GMT
The losses from UWE are no doubt the costs related to the negotiations before and after the current owners arrived on the scene. Money would have been spent on the consultants, legal advice, planning, fighting Sainsbury and so on. Had the UWE been built these costs would have been 'capitalised' and added to the cost and the theoretical value of the stadium when completed, i.e. added to the balance sheet on the asset side. However as we crashed and burned on the UWE build those costs now have to be added back to the Profit and Loss account. In theory there should be no more of these costs to be charged to the P&L. Going forward we should be looking at operational losses..... or profits only.
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eppinggas
Administrator
Ian Alexander
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Post by eppinggas on Mar 2, 2018 9:25:15 GMT
It seems we lost £3m last financial year and this financial year, so £6m total. About £3.1m of that is UWE write-off. The current run-rate looks to be £2m loss per annum It's really not for the faint-hearted, is it? HAQ and WAQ seem to value expert advice. I wonder if part of that told them that £3.1m on UWE was enough? Surely if we're losing £2m a year at the Mem, which we don't fill, we'd be losing more at the UWE (unless crowds increase quite a lot) I'm not sure that it explains the cash-shortage rumours tho - fence gate etc, and that noise about the players not being paid. Maybe that was due to different causes and some false rumours being spread about? If the Al-Qadi's are prepared to continue pumping in £2mil a year to keep us afloat (ie we are losing £40k a week) then I applaud them, and thank them for their support. However I think it is 'head in the sand time' if we think this situation can go on forever. Banker buys a business that clearly loses money hand over fist. With UWE there was a vision and a chance for a profitable enterprise (though I know Oldie and others don't think the numbers ever stacked up). Without UWE - and staying in Horfield (I think I can safely say without a complete stadium re-build)... nope, it just doesn't make sense. From a business perspective - I don't get it.
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Post by CountyGroundHotel on Mar 2, 2018 9:45:25 GMT
I see the 16/17 accounts are now out to shareholders. Club made an operating loss of just over £2m, plus a write-off of £900k being related to UWE. Report says Mr H Al-Qadi will support the club for at least 12 months from the date of the accounts (24 Feb). Does this mean they will sell next year or is this just a normal thing put into account statements? Not a normal thing to put in the accounts, despite what other experts say, but it will reflect the terms of the revolving credit facility between Bristol Rovers and Dwane Soirts/old man Al Qadi
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Post by fanatical on Mar 2, 2018 9:59:34 GMT
I see the 16/17 accounts are now out to shareholders. Club made an operating loss of just over £2m, plus a write-off of £900k being related to UWE. Report says Mr H Al-Qadi will support the club for at least 12 months from the date of the accounts (24 Feb). Does this mean they will sell next year or is this just a normal thing put into account statements? Not a normal thing to put in the accounts, despite what other experts say, but it will reflect the terms of the revolving credit facility between Bristol Rovers and Dwane Soirts/old man Al Qadi It IS normal where the Directors goodwill is required when there are ongoing losses - and 12 months is purely to cover the situation until the next annual accounts. No doubt the same will be there next year as it has been for years gone by under previous BODs.
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Post by a more piratey game on Mar 2, 2018 10:17:37 GMT
It seems we lost £3m last financial year and this financial year, so £6m total. About £3.1m of that is UWE write-off. The current run-rate looks to be £2m loss per annum It's really not for the faint-hearted, is it? HAQ and WAQ seem to value expert advice. I wonder if part of that told them that £3.1m on UWE was enough? Surely if we're losing £2m a year at the Mem, which we don't fill, we'd be losing more at the UWE (unless crowds increase quite a lot) I'm not sure that it explains the cash-shortage rumours tho - fence gate etc, and that noise about the players not being paid. Maybe that was due to different causes and some false rumours being spread about? The accounts say there was only a few thousand in the bank so cash flow may be an issue. ta!
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Peter Parker
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Richard Walker
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Accounts
Mar 2, 2018 14:29:44 GMT
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Post by Peter Parker on Mar 2, 2018 14:29:44 GMT
I see the 16/17 accounts are now out to shareholders. Club made an operating loss of just over £2m, plus a write-off of £900k being related to UWE. Report says Mr H Al-Qadi will support the club for at least 12 months from the date of the accounts (24 Feb). Does this mean they will sell next year or is this just a normal thing put into account statements? Not a normal thing to put in the accounts, despite what other experts say, but it will reflect the terms of the revolving credit facility between Bristol Rovers and Dwane Soirts/old man Al Qadi The wordings and/or any dates may be different but the messages are the same. Someone will fund the club to keep it going, otherwise it wont be able to
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Post by a more piratey game on Mar 2, 2018 15:10:24 GMT
It seems we lost £3m last financial year and this financial year, so £6m total. About £3.1m of that is UWE write-off. The current run-rate looks to be £2m loss per annum It's really not for the faint-hearted, is it? HAQ and WAQ seem to value expert advice. I wonder if part of that told them that £3.1m on UWE was enough? Surely if we're losing £2m a year at the Mem, which we don't fill, we'd be losing more at the UWE (unless crowds increase quite a lot) so, re-writing history a bit..... WAQ was keen to press on with the all-dancing training ground and the UWE - key structures in order to step outside our current limitations. Hamer was doing what his boss, WAQ, wanted the UWE deal didn't offer additional income streams. Dad got involved and said 'enough is enough. This is costing us £2m a year already. I'm not made of money' it all got a bit tense for a bit. Now things have settled down, but progress on the training ground and the Mem is very slow. It still might be costing quite a lot though as they don't mind paying for top advice - which might be very sensible as they are working in a business which is new to them they are putting in quite a bit more than the minimum to get by though
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dinsdale
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Post by dinsdale on Mar 2, 2018 17:30:38 GMT
So ignoring uwe its still a £2m loss ? How the hell is that happening ? We dont pay big wages
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eppinggas
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Post by eppinggas on Mar 2, 2018 17:48:21 GMT
It seems we lost £3m last financial year and this financial year, so £6m total. About £3.1m of that is UWE write-off. The current run-rate looks to be £2m loss per annum It's really not for the faint-hearted, is it? HAQ and WAQ seem to value expert advice. I wonder if part of that told them that £3.1m on UWE was enough? Surely if we're losing £2m a year at the Mem, which we don't fill, we'd be losing more at the UWE (unless crowds increase quite a lot) so, re-writing history a bit..... WAQ was keen to press on with the all-dancing training ground and the UWE - key structures in order to step outside our current limitations. Hamer was doing what his boss, WAQ, wanted the UWE deal didn't offer additional income streams. Dad got involved and said 'enough is enough. This is costing us £2m a year already. I'm not made of money' it all got a bit tense for a bit. Now things have settled down, but progress on the training ground and the Mem is very slow. It still might be costing quite a lot though as they don't mind paying for top advice - which might be very sensible as they are working in a business which is new to them they are putting in quite a bit more than the minimum to get by thoughWhere are they putting "quite a bit more than the minimum to get by"? The Bodin money we received far out-weighed fees & salaries for Craig, Bennett & Mensah. The Development squad can't be costing huge amounts of money. We have averaged around 9,000 gates for the last year. By all accounts we do not have a top half wage bill. The 'professional' advisers costs are part of the UWE right off. So if they are putting in "more than the minimum" - could I ask you where it is being spent? They have covered our losses for 2 years, and I am thankful for that. But I can't see evidence of money being spent beyond covering our shocking annual losses. Maybe the incredibly secretive Memorial redevelopment advisers are costing huge amounts?Invisibility cloaks don't come cheap.
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Post by laughinggas on Mar 2, 2018 18:15:13 GMT
so, re-writing history a bit..... WAQ was keen to press on with the all-dancing training ground and the UWE - key structures in order to step outside our current limitations. Hamer was doing what his boss, WAQ, wanted the UWE deal didn't offer additional income streams. Dad got involved and said 'enough is enough. This is costing us £2m a year already. I'm not made of money' it all got a bit tense for a bit. Now things have settled down, but progress on the training ground and the Mem is very slow. It still might be costing quite a lot though as they don't mind paying for top advice - which might be very sensible as they are working in a business which is new to them they are putting in quite a bit more than the minimum to get by thoughWhere are they putting "quite a bit more than the minimum to get by"? The Bodin money we received far out-weighed fees & salaries for Craig, Bennett & Mensah. The Development squad can't be costing huge amounts of money. We have averaged around 9,000 gates for the last year. By all accounts we do not have a top half wage bill. The 'professional' advisers costs are part of the UWE right off. So if they are putting in "more than the minimum" - could I ask you where it is being spent? They have covered our losses for 2 years, and I am thankful for that. But I can't see evidence of money being spent beyond covering our shocking annual losses. Maybe the incredibly secretive Memorial redevelopment advisers are costing huge amounts?Invisibility cloaks don't come cheap. How much did we get for Bodin? Fees for Nicholls and Sercombe came to what? How much does development squad and management cost. Without knowing these figures can't make a judgement call.
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Post by droitwichgas on Mar 2, 2018 20:51:24 GMT
THe latest accounts will be for the financial year ending in April or May 2017 so won't inc any transfers for from this summer or January plus they won't include the costs of setting up the Development Squad or money spent, read wasted, on the pitch. I assume they will include the cost of tarting up the South Stand and the new SW Stand plus MT's transfer fee, what's worrying is they seem to have spent more this season!!
Incidentally are the accounts copyright protected or can somebody upload them to google docs etc so we can all view them?
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