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.

[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 😂

[matt_magpie]

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



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

I can?t claim to understand the ins and outs Old_Pie but is it correct near enough they?ve put ?27m in?
Kieran Maguire on Twitter who?s often on TalkSPORT too does claim it to be 27m losses, seems a massive investment to me to basically have a club that?s still L2.

https://x.com/kieranmaguire/status/1...242864353?s=48

[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.

[Evesham Pie]

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




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

Year end is June 30 but the subsequent events note mentions the post year end transfer activity. This note covers events between the year end and when the accounts are signed by the directors, which was Feb 19th. So it should cover transfer activity up to and including Crowley.

[Evesham Pie]

I can?t claim to understand the ins and outs Old_Pie but is it correct near enough they?ve put ?27m in?
Kieran Maguire on Twitter who?s often on TalkSPORT too does claim it to be 27m losses, seems a massive investment to me to basically have a club that?s still L2.

https://x.com/kieranmaguire/status/1...242864353?s=48

The ?27m is losses incurred by Notts since the company was formed so includes the Trew, Hardy period as well. I think the losses since the Reedtz took over are less than ?10m in total.