2024 Accounts

[Evesham Pie]

Notts have just filed their accounts to June 2024 at Companies House. There is limited information disclosed but the key features are:

1) Loss of ?1.5m compared to ?2.7m the previous year (based on movements in P&L reserves);

2) After year end and up to February 19th the club sold players that generated a profit of ?1m (I assume Macca, Crowley and Mahovo) that will be accounted for this year.

3) The club spent ?1.9m on capital additions, with ?1.4m shown as "under construction" which I assume relates to the Nest.

4) The losses and capex have been funded by ?3.3m of new loans from related parties (Reedtz companies, Football Radar etc) and ?0.5m of new shares issued.

5) Average number of employees increased to 340 from 274 the previous year.

See the link below to Companies House records for Notts.

https://find-and-update.company-info...filing-history

[Jampie]

Good signs overall I believe. The losses are being reduced and the owners are continuing to invest. Things will improve in L1 whenever we make it there.

[slack_pie]

So if we hadn't invested money in off-the-field infrastructure and projects like the Nest, we'd have turned a profit? All ifs and buts, but that's promising.

[magpie_mania]

So if we hadn't invested money in off-the-field infrastructure and projects like the Nest, we'd have turned a profit? All ifs and buts, but that's promising.

Not necessarily. The profit and loss accounts aren't included.

I didn't realise that Joe Palmer became a director this month.

[SwalePie]

Negative 'profit and loss reserves' figures are not debt. The number basically represents the accumulated losses over time.

ETA: didn't see Evesham's post explaining, sorry.

[Old_pie]

Notts have just filed their accounts to June 2024 at Companies House. There is limited information disclosed but the key features are:

1) Loss of ?1.5m compared to ?2.7m the previous year (based on movements in P&L reserves);

2) After year end and up to February 19th the club sold players that generated a profit of ?1m (I assume Macca, Crowley and Mahovo) that will be accounted for this year.

3) The club spent ?1.9m on capital additions, with ?1.4m shown as "under construction" which I assume relates to the Nest.

4) The losses and capex have been funded by ?3.3m of new loans from related parties (Reedtz companies, Football Radar etc) and ?0.5m of new shares issued.

5) Average number of employees increased to 340 from 274 the previous year.

See the link below to Companies House records for Notts.

https://find-and-update.company-info...filing-history

I commented on this in response to matt_magpie on the "Are we actually going anywhere" thread: https://boards.footymad.net/showthre...343163&page=11

It really is not easy to deduce much from the abbreviated accounts that are available. The overall "losses" are liabilities not losses. The liabilities could include for instance some the purchase of the club from Hardy but they haven't, by agreement, been paid. The owners will show some of the money they've ploughed in as a liability. The annual losses of ~?1.5m seems in line with previous years. Fixed assets have more than doubled from ?1.44m to ?3.17m. Cash at bank and in hand almost doubled to ?1.7m and I'd be surprised if that included the Macca fee as that happened in July. So I don't think it is costing them an arm and a leg and it's got them from a relegated team to one near the top of League 2. I don't think the Bros will be overly disappointed.

Where do you get "Year End February 19th" from? I can only see reference to 30 June 2024.

[matt_magpie]

Good signs overall I believe. The losses are being reduced and the owners are continuing to invest. Things will improve in L1 whenever we make it there.

L1s quite tough as the TV money doesn?t go up much, there?s a massive jump when you get to the champ. Would we get the same attendances in the bottom half of L1 and then obliviously wages go up too, who?d be an owner 😂

[slack_pie]

L1s quite tough as the TV money doesn?t go up much, there?s a massive jump when you get to the champ. Would we get the same attendances in the bottom half of L1 and then obliviously wages go up too, who?d be an owner ��

We'd get higher attendances if only because of the bigger clubs bringing more away fans. There are some big clubs in L1.

[The_Don_ORiordan]

L1s quite tough as the TV money doesn?t go up much, there?s a massive jump when you get to the champ. Would we get the same attendances in the bottom half of L1 and then obliviously wages go up too, who?d be an owner 😂

As things stand there are a significantly higher number of teams with large followings in L1, both due to locality and size of clubs.

I would expect the crowds to increase significantly on that basis however well/badly we are doing.

In addition away fans tickets are not subsidised in the way home fans tickets are. Meaning greater profit from them.

[Jampie]

L1s quite tough as the TV money doesn?t go up much, there?s a massive jump when you get to the champ. Would we get the same attendances in the bottom half of L1 and then obliviously wages go up too, who?d be an owner ��

If I recall my football manager (game ) days, L1 was definitely better money but it wasn't a huge jump, and yeah a total nightmare to get out of because of teams rotating in and out of the Championship at the top of the table. But championship was a huge jump in income, millions extra per year.

So based on this expert knowledge, I would expect L1 to be a bit easier on our budget, unless we do the dumb thing and try to buy our way out of it.

However, getting promoted from L1 is a whole order of magnitude harder than going from L2 to L1. When we get to L1, we will absolutely need to temper our expectations as fans. First season just staying up will be success in my view, and mid table by second season? I'd probably be chill with it. We should always aim/budget for playoffs tho.