Jump to content

markovanhaddock

Saints
 View Profile  See their activity

  • Posts

    107

  • Joined

  • Last visited

 Content Type 

Posts posted by markovanhaddock

  2. Redundancies at the Academy

    in General St. Mirren Discussion

    Posted

    51 minutes ago, div said:

    Worth looking at the Chairman's Report in the last set of accounts to the year ending May 2021;
     

    The grant we received from the Government was £920K.

    Data and info from the published accounts you can read here;

    https://www.blackandwhitearmy.com/downloads/accounts-may2021.pdf

    So yes, we have a debt of almost £1m but this is a manageable 20 year repayment debt with zero interest.

    Nothing in itself to be alarmed about.

     

    I was not at the meeting last week so unsure exactly what was said. What actually matters is what our operating loss was for last season.

    If we've brought in money for McGrath, and compensation for Goodwin (even if some of that was spent getting Robinson) and still made a heavy loss then we should all be concerned.

    Last years account show Profit on disposal of player registrations AFTER operating profit/loss. So we could make a big operating loss, then the profit before taxation could easily be a profit or a vastly reduced loss once the transfer fees are brought in ( I assume they are the profit on disposal). So we could have spent more on operating costs knowing that it would be matched by the profit after operating profit/ loss, if you get what I mean. So knowing we had money in we spent more on other areas. The profit before tax will be the important one to look at, as an operating loss could be wiped out by transfer fees. 

×
×
  • Create New...