Club Accounts - Losses of £1.7m in the last year

[BigFatPie]

Kieran Maguire has provided an analysis of the latest Notts accounts here;

https://twitter.com/kieranmaguire/st...oGXhM_n6ydhKlg

Interesting if somewhat alarming reading.

[ncfcog]

I think those figures are alarming with someone like Hardy at the helm, not so much with the current owners who appear to be the biggest creditors. There are probably opportunities to reduce those losses in the future via promotion and player sales?

[SwalePie]

Contingent assets and liabilities make interesting reading. It would appear that the maximum payable to other clubs as sell-on fees could potentially turn out to have been extremely well negotiated by Notts.

[OP67]

Most of that debt is from Hardy who tried to hide a lot of it!! It's very managable debt at the moment as the brothers have already stated that they're happy with it at the moment.

Name a lower league club that hasn't a debt. Even Wrexham have debts owed to the owners, it ain't free money they're using no matter what their fans think.

[SwalePie]

Most of that debt is from Hardy who tried to hide a lot of it!! It's very managable debt at the moment as the brothers have already stated that they're happy with it at the moment.

Name a lower league club that hasn't a debt. Even Wrexham have debts owed to the owners, it ain't free money they're using no matter what their fans think.

Exactly.

[Old_pie]

I think those figures are alarming with someone like Hardy at the helm, not so much with the current owners who appear to be the biggest creditors. There are probably opportunities to reduce those losses in the future via promotion and player sales?

I think those figures are alarming with someone like Hardy at the helm, not so much with the current owners who appear to be the biggest creditors. There are probably opportunities to reduce those losses in the future via promotion and player sales?

The figures are fairly meaningless. When was the last time the club made a trading profit and when was the last time it had a positive balance sheet?

How much would we get if shove came to push and had to sell 3 or 4 key players?

I doubt that we owe the milkman anything. Technically insolvent headline sensationalism. The club has over £1m in the bank/cash at hand. The only people who won't get all their money back without player sales are the owners. They are paying about £1m each for a season ticket. Well not really because they are lending ~£1m each for the pleasure of having a season ticket.

I've never come across a small registered enterprise that voluntarily publishes full accounts - they give too much detail away, eg director's loans and drawings. Example: say the Reedtz Bros are taking £500k/yr in wages (they won't be but stick with it), then they put the money back in as a loan, so the debtors go up £1m.

All we can trust is that they are not driving their source of revenue to bankruptcy as FoolHardy did with his Paragon. It would be fascinating to know if any of the loan is Hardy's arising out of the terms of the sale to the Reedtz Bros. With that balance sheet I doubt that they paid him outright the full amount, and Hardy wasn't in a position to negotiate.

[60YearsAPie]

I didn't realise the Isle of Man had changed its name!

[OP67]

I didn't realise the Isle of Man had changed its name!

Goes to show you can't believe all you read on the tinternet

[60YearsAPie]

These figures tell us what we already know - this football club, like countless others, cannot exist on gate receipts and sale of replica kit alone. Until we cash in on our prize assets, players, we will remain dependant on our owners.

During the Munto year we lost £4.5m. The club lost an average of £1.64m a year during Ray Trew's 7 years in charge. During the 2 years Alan Hardy was at the helm we averaged losses of £2.70m a year. The brothers have for the year to June 2022 reduced the annual deficit to £1.69m, something approaching the loss levels of Ray Trew's ownership.

Check out our main rivals, Wrexham and Chesterfield and I'll wager you'll find a similar story.

[Elite_Pie]

It's managed to excite a few of the less intelligent Wrexham fans, although most see it as it really is:

http://www.redpassion.co.uk/forums/w...nty-debts.html