2024 Accounts

[matt_magpie]

OK, to try and shed some light on this I've looked at the accounts since 2019. In summary the losses since the brothers took over appear to be in the region of ?12.2m based upon the movements in P&L reserves.

At June 2019 the accumulated losses in the balance sheet were ?23.3m. These losses represent the losses under Munto, Trew and Hardy.

The 2019 accounts disclose that as part of the Reedtz takeover (post year end) that ?7.9m of debts were written off. This will have been accounted for as a profit by Notts as the waiver of money owed by the club is a gain, and therefore a profit.

At the point the takeover happened the accumulated losses would have been approximately ?15.4m (being the ?23.3m as at June 2019 less the ?7.9m profit on the debt waiver). As the accumulated losses at June 2024 were ?27.65m this implies losses under the Reedtz ownership of ?12.2m.

The losses by year, based upon the reserve movements, are :-

2020 ?4.0m (peak Covid impact)
2021 ?2.2m
2022 ?1.7m
2023 ?2.8m
2024 ?1.5m

The overall Reedtz losses of ?12.2m broadly reconcile to the debt of ?17.2m owed to the Reedtz at June 2024 when you take into account the net capex of ?2.3m, ?1.6m higher cash balance and ?1m less owed to HMRC.

Hope this makes sense.

Really good detail and in line with what Mace said of around 16m.

Maguire said best ran EFL economically were Exeter (Trust), Stevenage and Rotherham probably best of all.
Rotherham have done well by getting to Champ and yo yo-ing where increased tv monies etc are around 9 million which then drop to around 1m L1 but they have spent conservatively when in Champ.
Said he believed our strategy was best, stick to football philosophy, less manager sackings, less player turnover etc, he?s a Brighton fan so makes sense. Says some fans will totally get it and some won?t be as patient and see owners as only as good as your last weeks worth of results, he must go on this board 😂.

[Chicken Balti Pie]

Makes perfect sense & thanks for the effort, am I missing something or can someone explain the jump in 2023, was it the nest or pitch or something else? COYP

2023 would either have been the promotion season. Wonder how much the hotel for Wembley cost? Maybe something to do with that? We seemed to have the place to ourselves in the videos, it didn't look like a premier inn either

[MAD_MAGPIE]

OK, to try and shed some light on this I've looked at the accounts since 2019. In summary the losses since the brothers took over appear to be in the region of ?12.2m based upon the movements in P&L reserves.

At June 2019 the accumulated losses in the balance sheet were ?23.3m. These losses represent the losses under Munto, Trew and Hardy.

The 2019 accounts disclose that as part of the Reedtz takeover (post year end) that ?7.9m of debts were written off. This will have been accounted for as a profit by Notts as the waiver of money owed by the club is a gain, and therefore a profit.

At the point the takeover happened the accumulated losses would have been approximately ?15.4m (being the ?23.3m as at June 2019 less the ?7.9m profit on the debt waiver). As the accumulated losses at June 2024 were ?27.65m this implies losses under the Reedtz ownership of ?12.2m.

The losses by year, based upon the reserve movements, are :-

2020 ?4.0m (peak Covid impact)
2021 ?2.2m
2022 ?1.7m
2023 ?2.8m
2024 ?1.5m

The overall Reedtz losses of ?12.2m broadly reconcile to the debt of ?17.2m owed to the Reedtz at June 2024 when you take into account the net capex of ?2.3m, ?1.6m higher cash balance and ?1m less owed to HMRC.

Hope this makes sense.

Really good insight thanks for sharing. It’s easy to forget about the Covid times but it’s clear from the figures it cost a lot to keep the club going.

Also good to see that the losses came down to £1.5m in 2024.

It demonstrates we are a really well run club as we have finished higher in the pyramid season on season but losses are coming down at the same time as well. So a good balance appears to have been struck.

If the club could get to league one and establish itself there and start to break even or turn a profit that would be a fantastic achievement all round.

[slack_pie]

What period are the latest account s for? The 2023-24 financial year? If so, they won't include the sale of Macca, Crowley, and Nemane. I'd be interested to see what next year's accounts look like given the players we've sold, all of whom were high earners.