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2017 Annual Accounts


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As a Newcastle fan who's club owner has no desire to do well in the cups, i love the difference in attitude from St Mirren. It says their aim is to get promoted and progress to the latter rounds of domestic cup competitions, and they actually mean it. So wish NUFC had that way of thinking and some ambition. It's the way a club SHOULD be run.

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Good reading compared to the old days when it looked like we would need miracle each year to continue with full-time football.

However, we are still reliant on selling on one of our academy graduates each season.

Fingers crossed Hibs are able to cash in on John McGinn for the rumoured 5m quid in January!

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Even though the  parachute payments have stopped, salaries have gone up, on top of that there is a £30k directors salary line that was nil previously, and profits have halved.

the peach though is in the Chairman's statement on how Smisa funding helped them afford things they otherwise would have to have gone without, like the sports scientist and presumably match balls... 

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29 minutes ago, Lord Pityme said:

Even though the  parachute payments have stopped, salaries have gone up, on top of that there is a £30k directors salary line that was nil previously, and profits have halved.

the peach though is in the Chairman's statement on how Smisa funding helped them afford things they otherwise would have to have gone without, like the sports scientist and presumably match balls... 

Player expenses are up 40k or so as well

Edited by slapsalmon
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37 minutes ago, Lord Pityme said:

Even though the  parachute payments have stopped, salaries have gone up, on top of that there is a £30k directors salary line that was nil previously, and profits have halved.

the peach though is in the Chairman's statement on how Smisa funding helped them afford things they otherwise would have to have gone without, like the sports scientist and presumably match balls... 

I had assumed that would be Tony-F's wage, which would not have been listed as a Directors salary in the last set of figures.

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The spiel when the takeover happened was that the place was in ruins and needed extensive work. The opening part of the accounts say they made a substantial(I'm sure t said substantial but I could be wrong) profit despite having made extensive repairs. Later in the accounts it shows the profit is less than last year and the spend on repairs is less than last year. So imho that's a bit of a red herring.

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3 hours ago, Bud the Baker said:

I had assumed that would be Tony-F's wage, which would not have been listed as a Directors salary in the last set of figures.

Shouldn't be as he is employed as the CEO, and that wage has akways been included in the general wage bill on the accounts. If it is the case it makes it look worse as that would be a further rise in wage costs.

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48 minutes ago, David Mc said:

I’m wondering what anyone would have to gain by putting a patent lie in the annual accounts document? Think some people need to go back to the JFK conspiracy thread really.

Hmmmm. I’m not suggesting it has happened but just in response to your statement above, there are any number of reasons why someone might want to tell a blatant lie in their accounts and how they might gain from it. 

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4 hours ago, cockles1987 said:

 


Wasn't the work carried out during the close season? If so the figures will be in next year's accounts. emoji106.png

 

Surely that makes the comment even more of a red herring with regards to these accounts? They also mention how the directors havnt been in place for a full accunting year but feel these are their own.

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Whilst it is great that the accounts show a small profit, make no mistake about it things are as tight as a gnats chuff.

The directors notes have already detailed that to get this tiny profit we needed to sell players and get a Cup tie at Parkhead.

We cannot rely on that this season. Also, 15k profit doesnt leave much of a rainy day fund.

It is pretty clear that significant financial challenges remain unless we can get out of this division.

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12 hours ago, Lord Pityme said:

Shouldn't be as he is employed as the CEO, and that wage has akways been included in the general wage bill on the accounts. If it is the case it makes it look worse as that would be a further rise in wage costs.

Yeah but circumstances have changed and neither of us are experts on accounting conventions - as usual you've gone for the contentious explanation.

I presume someone will enquire about this at the AGM.

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1 hour ago, Bud the Baker said:

Yeah but circumstances have changed and neither of us are experts on accounting conventions - as usual you've gone for the contentious explanation.

I presume someone will enquire about this at the AGM.

Tony F was there under the last board, and last season as a director, under this one. There wasnt as i recall a Directors wages line on the accounts then. Would be nice if a question is asked at the AGM about 'is the club now paying director/s a wage solely for being a director..?  Perhaps it is a specfic line accounting for all/part of Tony's salary, but again doesnt make sense unless the club are paying one or more just fir being directors.

Maybe it will come up as a request for Smisa funding?

Edited by Lord Pityme
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