Re: Club Statement : Mon Aug 18, 2014 8:39 pm  

Magic Superbeetle wrote:

So just had a proper look.

First off the bat I was thinking of the wrong year (always a good start)

Total depreciation was on tangible assets was £1,069,000 (hey I was pretty close ) carried forward from 2012

Despite a big drop in turnover, the cash flow was only impacted by £87,000 - a good effort all round.

Short term creditors and total liabilities are down roughly 200k.

The stadium continues to be a massive bonus for the club - and for all the what if crowds, if we packed it in tomorrow they'd walk away with 11mill - after demanding what they put in of course. I bet were one of very very few clubs in rl who'd be in that position.

It's very easy to see how the numbers could be altered to show a break even next year, with increased tv revenue, lower building costs and continuing to drop our liabilities...

Can you translate all that into Key Stage 1 accounting language please?

Re: Club Statement : Mon Aug 18, 2014 8:40 pm  

SaintsFan wrote:

Can you translate all that into Key Stage 1 accounting language please?

It ain't as bad as most on this thread are trying to make out money is moving through the club just as much as before (despite the highlighted drop in turnover) and overall we owe roughly 200k less than we did this time last year. And having the stadium means if the investors walked away, we could afford to pay em off and keep going (albeit at the cost of the stadium most probably).

Our short term liabilities sum roughly 1.1m - I read on another thread wigans last year totalled over 4m for a quick comparison.

Re: Club Statement : Mon Aug 18, 2014 8:58 pm  

Yeah, but Wigan's debt was a Wigan fan in it's infancy.

Re: Club Statement : Mon Aug 18, 2014 9:21 pm  

Magic Superbeetle wrote:

money is moving through the club just as much as before (despite the highlighted drop in turnover)

How can this be?

Re: Club Statement : Mon Aug 18, 2014 9:41 pm  

Gosh it's going back a bit, but if I remember correctly.

Turnover is just cash coming in.

So cashflow could increase if you reduce your costs.

So whilst taking catering in house increased costs last year, most of those will I imagine have been investing in capital, purchase of equipment and such. Once bought, there is no need to spend the same the next year, just the variable costs such as labour and purchase of goods.

So turnover has gone down by say people buying less pies. Lets say pie purchases drop by one pie.
The costs of staff and purchase of goods stays the same. But there was no need to buy another over this year, so the drop in one pie's worth of revenue, is offset by the fact there is less needing to be spend on the capital such as ovens and stuff.

I await magic super beetle to tell me I have the wrong end of the stick.

Re: Club Statement : Mon Aug 18, 2014 9:47 pm  

bewareshadows wrote:

Gosh it's going back a bit, but if I remember correctly.

Turnover is just cash coming in.

So cashflow could increase if you reduce your costs.

So whilst taking catering in house increased costs last year, most of those will I imagine have been investing in capital, purchase of equipment and such. Once bought, there is no need to spend the same the next year, just the variable costs such as labour and purchase of goods.

So turnover has gone down by say people buying less pies. Lets say pie purchases drop by one pie.
The costs of staff and purchase of goods stays the same. But there was no need to buy another over this year, so the drop in one pie's worth of revenue, is offset by the fact there is less needing to be spend on the capital such as ovens and stuff.

I await magic super beetle to tell me I have the wrong end of the stick.

I have not much of a clue, I know what I'm looking for and how to interpret them - but no actual idea to how any of it relates to reality (modern education innit ) just goes to show how easy it is to hide, highlight and manipulate numbers on such accounts for whatever purposes the company need the accounts to show!

Sounds about right though, I'm sure there is a pie free explanation somewhere

Re: Club Statement : Mon Aug 18, 2014 10:11 pm  

Bewareshadows' post just gave Rogues a semi. Lay off the pie talk!

Re: Club Statement : Mon Aug 18, 2014 10:58 pm  

Also, just had chance to look at the season ticket announcement - credit must go to the club, the website looks really good, kudos to all involved...

Re: Club Statement : Tue Aug 19, 2014 6:25 am  

Allez wrote:

It won't take you long to read it.

Wigan do own properties (Orrell) without the requirement to spend extensively on stadium upkeep. Granted they don't generate any income currently.

Re: Club Statement : Tue Aug 19, 2014 7:34 am  

Haven't seen the accounts yet but happy to give a view when iI do (as a qualified accountant)

As for Rogues comparing his grunty administration job with Mike Coleman's - just lol.!