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The Phantom Horseman

Rovers announce operational surplus

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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. 


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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

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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).

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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

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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..........

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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

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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.

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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. 

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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.

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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

 

 

 

 

 

 

 

 

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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.

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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. 

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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. 

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