Re: Spirit of 1873 Ltd accounts : Wed Sep 04, 2024 9:01 am  

So a question now the accounts are out.

Does this signify any improvement on our pre ious finance score?

Re: Spirit of 1873 Ltd accounts : Wed Sep 04, 2024 9:48 am  

Trojan Horse wrote:

So a question now the accounts are out.

Does this signify any improvement on our pre ious finance score?

Just for a start;

Page 17 of the clubs accounts details for 22 - £3,895,700 turnover, £1,723,208 of which was from centralised funding, this puts us at £2,172,294 non centralised turnover which under IMG scoring (without going back the 3 years as I can`t actually see the previous accounts) would give us a score of 1.5 under IMG criteria (Page 21 of the IMG handbook for anyone that wants to have a look).

In the latest year of accounting our non centralised funding is at £3,083,854, so for the last 2 years we have an average non centralised turnover of £2,628,074, now the sticking point is because I cannot see, I`m not sure what the non-centralised funding worked out at for the year previous - If this is circa £2.3 million (just over 2022) then we will score the full 2.25 points which is +0.75 points to our score.

Now the % of non centralised funding (page 22 of the IMG handbook) is also averaged over a 3 year period, our % in last years account was 55.7%, if this was an avg we would scored 0.3 out of a maximum 0.7. This year as a % is 66%, which gives us an average of circa 61%, we need 70% to score 0.75 which is +0.45 on our current score - This would be more difficult as our previous year would have had to have been at 88%, which is unlikely but definitely one to target for the year after.

Depending on the answer to the first point relating to the accounts year previous, we will likely be over the 15 mark for a grade A licence.

Re: Spirit of 1873 Ltd accounts : Wed Sep 04, 2024 10:02 am  

The other aspects on finances are balance sheet strength and profit, both of which we won`t see a change on.

Final one, owner investment, I can`t quite work out what would be included as owner investment from the accounts, but looking at what is going on at the club, there is every chance that this could score us an extra 0.25 points as well.

Re: Spirit of 1873 Ltd accounts : Wed Sep 04, 2024 10:42 am  

I don't understand accounts, but would I be correct in thinking that turnover has increased significantly due to sponsorship from DIY Kitchens? And that owner investment would be separate from that?

Re: Spirit of 1873 Ltd accounts : Wed Sep 04, 2024 11:04 am  

Turnover is up due to merchandise sales, ticket sales, business activities at the stadium and, no doubt, sponsorships.

A rosy picture which will only get better next year too.

Re: Spirit of 1873 Ltd accounts : Wed Sep 04, 2024 11:26 am  

dboy wrote:

Turnover is up due to merchandise sales, ticket sales, business activities at the stadium and, no doubt, sponsorships.

A rosy picture which will only get better next year too.

Though there would be a big drop for this season for central funding?

Re: Spirit of 1873 Ltd accounts : Wed Sep 04, 2024 12:33 pm  

Yep they are interesting.

What it makes clear to me is that the club was not the basket case some suggest. In fact compared to some SL clubs it was positively solvent.

However it’s also clear that it was heavily beholden to its directors. This is not unusual but it’s clear to me that we’d hit the limit as to what the old directors could provide.

Always amused me does the asset value, it’s a real piece of accountants flim flam. Yes technically the East stand is an 8 million pound asset. However I’m unsure as to how anyone else other than Trinity could realise that it’s potential. In truth it’s worth bob all without a team that can fill it. But so far as our books are concerned it makes a huge difference.

So we’ve cleared all loans, which is brilliant as we have a clean sheet. We have assets. We have increased income despite relegation (bar SKY money). This income will only increase as the new East stands potential is fully realised.

Who wouldn’t want a RL club like that in SL - we will soon find out whether IMG are all they are cracked up to be - or if the insanity of RL will continue.

Re: Spirit of 1873 Ltd accounts : Wed Sep 04, 2024 12:35 pm  

Trojan Horse wrote:

Though there would be a big drop for this season for central funding?

Yes, but do these accounts run for the same 12 months as the season? May be some crossover perhaps? I don’t know

Re: Spirit of 1873 Ltd accounts : Wed Sep 04, 2024 12:59 pm  

vastman wrote:

Yes, but do these accounts run for the same 12 months as the season? May be some crossover perhaps? I don’t know

Lets not forget, this is to Nov 23, so would still include central funding from us being in SL.

It`s actually a benefit to us (IMG wise) not to have central funding for this season as the IMG points comes from non centralised turnover, there are points to pick up based on % of non centralised funding against centralised, so that will give us a big boost come end of 25.

[PopTart]

Re: Spirit of 1873 Ltd accounts : Wed Sep 04, 2024 1:36 pm  

homme vaste wrote:

Lets not forget, this is to Nov 23, so would still include central funding from us being in SL.

It`s actually a benefit to us (IMG wise) not to have central funding for this season as the IMG points comes from non centralised turnover, there are points to pick up based on % of non centralised funding against centralised, so that will give us a big boost come end of 25.

Exactly.
It sounds small but its a percentage of 0.75 points and some will get low points in this.