The Phantom Horseman Posted October 6, 2020 Share Posted October 6, 2020 https://www.featherstonerovers.co.uk/news/rovers-announce-operating-surplus-eHi8N Good to read. Link to comment Share on other sites More sharing options...
Squidward Posted October 8, 2020 Share Posted October 8, 2020 Brilliant. Link to comment Share on other sites More sharing options...
tms Posted October 10, 2020 Share Posted October 10, 2020 On 06/10/2020 at 20:02, The Phantom Horseman said: https://www.featherstonerovers.co.uk/news/rovers-announce-operating-surplus-eHi8N Good to read. compare that to our near neighbours Wakefield Trinity have reported an annual loss of £433,000 for the year ending November 2019 Link to comment Share on other sites More sharing options...
gazza77 Posted October 10, 2020 Share Posted October 10, 2020 16 minutes ago, POR said: compare that to our near neighbours Wakefield Trinity have reported an annual loss of £433,000 for the year ending November 2019 They did make an operating loss in the year, but it was not £433k, unless you've been reading the Mick Gledhill accountancy guide. Please view my photos. http://www.hughesphoto.co.uk/ Little Nook Farm - Caravan Club Certificated Location in the heart of the Pennines overlooking Hebden Bridge and the Calder Valley. http://www.facebook.com/LittleNookFarm Little Nook Cottage - 2-bed self-catering cottage in the heart of the Pennines overlooking Hebden Bridge and the Calder Valley. Book now via airbnb Link to comment Share on other sites More sharing options...
Fev1983 Posted October 10, 2020 Share Posted October 10, 2020 On 06/10/2020 at 20:02, The Phantom Horseman said: https://www.featherstonerovers.co.uk/news/rovers-announce-operating-surplus-eHi8N Good to read. We will need it without dual registration Link to comment Share on other sites More sharing options...
Chris Taylor Posted October 10, 2020 Share Posted October 10, 2020 4 hours ago, Fev1983 said: We will need it without dual registration Think we pay Leeds each year, so it won't make a difference. 2008 RFL Wakefield & District Young Volunteer of the Year Link to comment Share on other sites More sharing options...
Cardypaul Posted October 10, 2020 Share Posted October 10, 2020 I have read £60k per year but no idea if it’s true. Link to comment Share on other sites More sharing options...
Les Tonks Sidestep Posted October 10, 2020 Share Posted October 10, 2020 8 hours ago, gazza77 said: They did make an operating loss in the year, but it was not £433k, unless you've been reading the Mick Gledhill accountancy guide. Carter was claiming that Wakefield were 'debt free' a few months ago. Doesn't seem likely to me looking at their last published accounts (unless someone there has had a big win on the lottery in the meantime). Link to comment Share on other sites More sharing options...
gazza77 Posted October 10, 2020 Share Posted October 10, 2020 47 minutes ago, Les Tonks Sidestep said: Carter was claiming that Wakefield were 'debt free' a few months ago. Doesn't seem likely to me looking at their last published accounts (unless someone there has had a big win on the lottery in the meantime). No, I'd agree. Based on their last published accounts, it looks like they lost around £100k in the 12 month period. Seems a bit odd to claim they are "debt free" anyway, when I seem to recall they borrowed money to buy back the ground... Please view my photos. http://www.hughesphoto.co.uk/ Little Nook Farm - Caravan Club Certificated Location in the heart of the Pennines overlooking Hebden Bridge and the Calder Valley. http://www.facebook.com/LittleNookFarm Little Nook Cottage - 2-bed self-catering cottage in the heart of the Pennines overlooking Hebden Bridge and the Calder Valley. Book now via airbnb Link to comment Share on other sites More sharing options...
Les Tonks Sidestep Posted October 10, 2020 Share Posted October 10, 2020 Just now, gazza77 said: No, I'd agree. Based on their last published accounts, it looks like they lost around £100k in the 12 month period. Seems a bit odd to claim they are "debt free" anyway, when I seem to recall they borrowed money to buy back the ground... Yeah the claim is 'odd' although when I discussed it elsewhere I was told by a Wake fan that it was a mortgage and therefore didn't count as debt.......... Link to comment Share on other sites More sharing options...
gazza77 Posted October 10, 2020 Share Posted October 10, 2020 21 minutes ago, Les Tonks Sidestep said: Yeah the claim is 'odd' although when I discussed it elsewhere I was told by a Wake fan that it was a mortgage and therefore didn't count as debt.......... Must remember to have that conversation with my bank. Please view my photos. http://www.hughesphoto.co.uk/ Little Nook Farm - Caravan Club Certificated Location in the heart of the Pennines overlooking Hebden Bridge and the Calder Valley. http://www.facebook.com/LittleNookFarm Little Nook Cottage - 2-bed self-catering cottage in the heart of the Pennines overlooking Hebden Bridge and the Calder Valley. Book now via airbnb Link to comment Share on other sites More sharing options...
Les Tonks Sidestep Posted October 10, 2020 Share Posted October 10, 2020 19 minutes ago, gazza77 said: Must remember to have that conversation with my bank. Hope you have better luck, it didn't work for me... Link to comment Share on other sites More sharing options...
jamescolin Posted October 11, 2020 Share Posted October 11, 2020 It would be interesting to know where the £40k came from. With no gate money how have we obtained income to invest. Further the only way to see the overall picture is to see the audited accounts. Then we can see if we have sold any assets, let sponsors have a charge on any asset, a loan from a director etc. Looking at the Balance Sheet would give us the true situation as to our viability. It would also on the Income and Expenditure indicate if our cash flow was good or are we in debt when looking at the overall situation. One figure does not give the overall situation regarding the true position of any club. It would be interesting to see the audited accounts. Link to comment Share on other sites More sharing options...
The Phantom Horseman Posted October 11, 2020 Author Share Posted October 11, 2020 1 hour ago, jamescolin said: It would be interesting to know where the £40k came from. With no gate money how have we obtained income to invest. It states in the story that this is for the year ending December 2019. Link to comment Share on other sites More sharing options...
jamescolin Posted October 11, 2020 Share Posted October 11, 2020 Yes but we still have overheads so what is the current position? It is alright quoting December 2019 but where are we in October 2020 . What I was meaning was where did the income come from then and what is the present position. I take your point but with the current problems over health and no income how are we now situated. Link to comment Share on other sites More sharing options...
The Grinder Posted October 12, 2020 Share Posted October 12, 2020 Colin, Given your background in banking I would expect you to realise that accounts are generally only announced 8-12 months after the company financial year ends. I would not expect to see our financial details for the year 2020 until around August/September 2021, which traditionally would be around the point when we would have our AGM for the year. I'm sure I'll think of something funny to say soon. Link to comment Share on other sites More sharing options...
Bryan S Taylor Posted October 12, 2020 Share Posted October 12, 2020 I understand issue here. There is always a time delay with Companies Year End and finalising of the accounts for that trading period. I think Colin is seeking some assurances that the Club is still in good financial health, despite the season being cancelled due to the current health issue. Yes the Accounts for the year ending NOV 2020 will not be available until some time in 2021 Link to comment Share on other sites More sharing options...
The Grinder Posted October 12, 2020 Share Posted October 12, 2020 9 minutes ago, Bryan S Taylor said: I understand issue here. There is always a time delay with Companies Year End and finalising of the accounts for that trading period. I think Colin is seeking some assurances that the Club is still in good financial health, despite the season being cancelled due to the current health issue. Yes the Accounts for the year ending NOV 2020 will not be available until some time in 2021 Bryan, To be honest we could ask this every year. i.e. "is the club in good financial health"? However we still wouldn't know until the accounts are published. I'm sure I'll think of something funny to say soon. Link to comment Share on other sites More sharing options...
Bryan S Taylor Posted October 12, 2020 Share Posted October 12, 2020 Grinder. I agree we will to wait. Link to comment Share on other sites More sharing options...
jamescolin Posted October 12, 2020 Share Posted October 12, 2020 I am well aware the audit accounts are not ready for 2020. I have been interpreting accounts for over 35 years. What i was asking was what is the current position? Every business has daily records and keeps a cash flow record and also a list of Debtors and Creditors. Our overheads will have continued and eaten into the surplus shown . I was only asking the club to show the current position so supporters could help if required. Cash flow is all important and I wondered if an input into the club has occurred. Link to comment Share on other sites More sharing options...
jamescolin Posted October 14, 2020 Share Posted October 14, 2020 On 12/10/2020 at 19:06, jamescolin said: I am well aware the audit accounts are not ready for 2020. I have been interpreting accounts for over 35 years. What i was asking was what is the current position? Every business has daily records and keeps a cash flow record and also a list of Debtors and Creditors. Our overheads will have continued and eaten into the surplus shown . I was only asking the club to show the current position so supporters could help if required. Cash flow is all important and I wondered if an input into the club has occurred. Somebody asked me about Income and Expenditure. They are also current items that are part of the up to date Cash Flow. We could also have changes in Fixed Assets and Liabilities. The ongoing situation is recorded in the books on a daily basis. If the club wanted to give an up to date position regarding trading, income and overheads and the current position with forecasts on the outcome they could do so. Interim accounts are a feature of regular trading. In my banking days i used to see them on regular basis to asses how the business was going with a view to how to advise them on how to conduct their progress. Those days have gone from a banking point of view and much is now conducted by computers. WE knew our customers in the old days and everything was conducted in the branch with the final assessment going to Head Office. I hope this put the picture clear on what I was asking. The current position and what is planned is something we ought to know about. Link to comment Share on other sites More sharing options...
Les Tonks Sidestep Posted December 3, 2020 Share Posted December 3, 2020 Accounts for year ending 30th Nov 2019 now available on Companies House website (I'd link but the links never seem to work). Not a great change from the previous year, but in the right direction: Net current assets £51.5k v debt of £9.6k Debts due in <1 year: £327.5k v £326.3k Debts due >1year: £862k v £871k Total assets less current liability: £1.54m v £1.51m Net assets: ££677k v £641k CC still owed £200k Link to comment Share on other sites More sharing options...
jamescolin Posted December 4, 2020 Share Posted December 4, 2020 Lets hope we clear creditors of more than one year as soon as possible. But that is 2019. Where are we now? Accounts are unaudited as well. Link to comment Share on other sites More sharing options...
sweaty craiq Posted December 7, 2020 Share Posted December 7, 2020 On 03/12/2020 at 17:50, Les Tonks Sidestep said: Accounts for year ending 30th Nov 2019 now available on Companies House website (I'd link but the links never seem to work). Not a great change from the previous year, but in the right direction: Net current assets £51.5k v debt of £9.6k Debts due in <1 year: £327.5k v £326.3k Debts due >1year: £862k v £871k Total assets less current liability: £1.54m v £1.51m Net assets: ££677k v £641k CC still owed £200k That would explain the very poor credit rating shown on gen rl page Link to comment Share on other sites More sharing options...
Les Tonks Sidestep Posted December 8, 2020 Share Posted December 8, 2020 4 hours ago, sweaty craiq said: That would explain the very poor credit rating shown on gen rl page No it wouldn't. Link to comment Share on other sites More sharing options...
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