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Accounts to the Year Ended May 2018

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On 11/24/2018 at 10:55 PM, bazil85 said:

Would you have sacrificed promotion if we had taken off two or three key players salaries to have a healthier profit? Only that wouldn’t work because a successful season would have equalled increased revenue. 

I genuinely don’t understand some fans that are never happy regardless. 

- title winning season 

- club in the black 

- profit up 

- income since likely to mean we continue in the black 

still not happy :lol:

I think it was shown that Massimo Donati, Dale Hilson, Darryl Duffy, Jamie McCart,  Ross Stewart (forward),  Gregor Buchanan, Jordan Kirkpatrick, Mark Hill, Josh Todd, Myles Hippolyte and John Sutton were all pretty much surplus to requirements last season and barely featured as substitutes!

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13 hours ago, bazil85 said:

We’ve spent what has come in and it’s paid off. We’ve been promoted to the top league and still turned a profit yet again for the year. 

Keep the moaning for the day we spend what we don’t have... I wouldn’t hold your breath for it though, there is zero indication that’s what the club will do. 

Had it not been for the money SMISA proffered for various expenses, the club would have run at a loss.  You can argue that if SMISA had not wedged the club in then that money would not have been spent, but they did and it was.

Jack Ross spent, by our standards, a lot of money on players who barely got a look in and the off-field operation has swelled in numbers.  The chairman took a roll of the dice last season, appears to have done the same this year on and has had his (our) fingers burned by the grand folly of the Stubbs experiment.  Had it not been for the McGinn money then we would be looking at a bleak outlook this year.  That can only be explained by the board being either foolhardy and risk-friendly or very naive.

One thing the board did that I agree with, there was a clear deficit of in-depth knowldege of football and footbalers in our boardroom and McPherson might well be able to fill that void.

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5 minutes ago, Dibbles old paperboy said:

I think it was shown that Massimo Donati, Dale Hilson, Darryl Duffy, Jamie McCart,  Ross Stewart (forward),  Gregor Buchanan, Jordan Kirkpatrick, Mark Hill, Josh Todd, Myles Hippolyte and John Sutton were all pretty much surplus to requirements last season and barely featured as substitutes!

Whilst I agree with Bazl about last season,  you are right in highlighting these players.  

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7 minutes ago, Dibbles old paperboy said:

I think it was shown that Massimo Donati, Dale Hilson, Darryl Duffy, Jamie McCart,  Ross Stewart (forward),  Gregor Buchanan, Jordan Kirkpatrick, Mark Hill, Josh Todd, Myles Hippolyte and John Sutton were all pretty much surplus to requirements last season and barely featured as substitutes!

That's probably at least 150k in wages right there, probably considerably more.

Naive management and very naive chairmanship, I'm afraid.

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26 minutes ago, Dibbles old paperboy said:

I think it was shown that Massimo Donati, Dale Hilson, Darryl Duffy, Jamie McCart,  Ross Stewart (forward),  Gregor Buchanan, Jordan Kirkpatrick, Mark Hill, Josh Todd, Myles Hippolyte and John Sutton were all pretty much surplus to requirements last season and barely featured as substitutes!

Hindsight is a wonderful thing. Without the help of a fortune teller how do you suggest they trimmed specifically those players wages? 

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21 minutes ago, beyond our ken said:

Had it not been for the money SMISA proffered for various expenses, the club would have run at a loss.  You can argue that if SMISA had not wedged the club in then that money would not have been spent, but they did and it was.

Jack Ross spent, by our standards, a lot of money on players who barely got a look in and the off-field operation has swelled in numbers.  The chairman took a roll of the dice last season, appears to have done the same this year on and has had his (our) fingers burned by the grand folly of the Stubbs experiment.  Had it not been for the McGinn money then we would be looking at a bleak outlook this year.  That can only be explained by the board being either foolhardy and risk-friendly or very naive.

One thing the board did that I agree with, there was a clear deficit of in-depth knowldege of football and footbalers in our boardroom and McPherson might well be able to fill that void.

It wouldn't be an argument at all, SMFC were very clear on a number of occasions that without SMISA support they would fund from the budget. That could of been at the expense of a Darryl Duffy or Dale Hilson. It could equally be at the expense of a Harry Davis or Cammy Smith. 

SMFC spent what they predicted they could spend based on budget and transfer revenue. It paid off and we got promoted. Football is a risk business, the risk paid off. If it hadn't paid off and we hadn't gotten promotion we might of recorded a loss, I doubt it would have been even close to money that put the club at risk. Probably a majority of Scottish clubs run at loss some seasons. How people can be negative about the club using the money available to them to push for promotion (and achieving it) is beyond me. 

You say risk-friendly but along with others, you seem to preach very risk-adverse. The McGinn money came in mid-August, it is there to be used. Had it not come in we might not have been in a position to get rid of Stubbs and sign players like Ferdinand when we did but that does NOT mean the board took unnecessary risks. Where is your evidence for that?  

The bottom-line is there are a number of fans on here that will moan regardless of situation. The club recording a profit yet again, winning promotion and being in a position to record yet another profit next season proves that. 

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Just now, Dibbles old paperboy said:

Scouting? JR inherited Sutton and signed the rest.

Would scouting have prevented Hilson's injury?

Would we have not signed KirkPatrrick and the two Stewart's who were on lightning form the season before at a slightly lower level?

Would we have signed the injury prone Davis who was one of our most important players?

What about Buchanan and McCourt? One on form for a title winning team and one a Scotland U21 international held in high regard by Celtic..

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54 minutes ago, beyond our ken said:
14 hours ago, bazil85 said:

We’ve spent what has come in and it’s paid off. We’ve been promoted to the top league and still turned a profit yet again for the year. 

Keep the moaning for the day we spend what we don’t have... I wouldn’t hold your breath for it though, there is zero indication that’s what the club will do. 

Had it not been for the money SMISA proffered for various expenses, the club would have run at a loss.  You can argue that if SMISA had not wedged the club in then that money would not have been spent, but they did and it was.

Jack Ross spent, by our standards, a lot of money on players who barely got a look in and the off-field operation has swelled in numbers.  The chairman took a roll of the dice last season, appears to have done the same this year on and has had his (our) fingers burned by the grand folly of the Stubbs experiment.  Had it not been for the McGinn money then we would be looking at a bleak outlook this year.  That can only be explained by the board being either foolhardy and risk-friendly or very naive.

One thing the board did that I agree with, there was a clear deficit of in-depth knowldege of football and footbalers in our boardroom and McPherson might well be able to fill that void.

Isn't hindsight such a wonderful tool to reminisce upon?  B)

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12 minutes ago, Isle Of Bute Saint said:

Tv money is going to take a massive jump next season fingers crossed we will still be in the premiership. 

What difference will it make if each Club is getting the same money ? 

And, what if money received is calculated on where a Club finishes in League. 

Either way, only players and agents will get richer. 

Clubs directors  are generally thick and very wasteful with money. 

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19 hours ago, renfrew bud said:

I’m a shareholder and I haven’t received accounts and neither have friends. Notice there’s no mention of when AGM is. 

Policy is to make accounts available on-line only, presumably to save money, but you’re correct the club doesn't seem to attempt to send the results out despite me making enough of a fuss to get a copy  posted one year and leaving my email address.

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21 hours ago, bazil85 said:

It is splitting hairs, I was clearly talking about the difference in profit year on year. You’ve jumped on the wording similar to how a child might act. 

You misused the phrase "operating profit'" during a post where you were having a go at other posters.

Operating profit/loss is the worrying number in the accounts, not pre-tax profit.

The fact that you dont appear to understand why, reveals that you fundamentally dont understand accounting.

Edited by oaksoft

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50 minutes ago, Lord Pityme said:

The club spent £2 million more on wages than last year. Just let that sink in... £2 million more!

The club had the money to spend, they spent it and it got us promoted. 

Wonder who would be the first person to complain if we had finished 7th in the Championship again but recorded seven figure profits. I can just see it now 'Why didn't they spend the money?'

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1 minute ago, oaksoft said:

You misused the phrase "operating profit'" during a post where you were having a go at other posters.

Operating profit/loss is the worrying number in the accounts, not pre-tax profit.

The fact that you dont appear to understand why is because you fundamentally dont understand accounting.

I happen to understand accounting to a relatively high level actually. I used the wrong expression, oh gosh! Where do I stand to get tarred and feathered?

You twisting things and splitting hairs does not change facts that we recorded a much improved profit for the last FY on top of getting promoted.  

In what way is it 'worrying' we spent money that had come in and it paid off? 

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15 hours ago, bazil85 said:

We’ve spent what has come in and it’s paid off. We’ve been promoted to the top league and still turned a profit yet again for the year. 

Keep the moaning for the day we spend what we don’t have... I wouldn’t hold your breath for it though, there is zero indication that’s what the club will do. 

It's really disappointing that you cant accept where you are lacking in understanding over these accounts.

Please tell me tou have no ambition to be part of the BOD when fans take over the club.

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19 minutes ago, Isle Of Bute Saint said:

Tv money is going to take a massive jump next season fingers crossed we will still be in the premiership. 

Agree with you. The place to be is in the Premiership and we need to be in it for 2 to 3 seasons to build a team capable of challenging for the top six. Simply put..money enables us to upgrade the playing staff. Harsh but true. 

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Just now, oaksoft said:

It's really disappointing that you cant accept where you are lacking in understanding over these accounts.

Please tell me tou have no ambition to be part of the BOD when fans take over the club.

I think most three year old's could interpret that increased profit is a good thing.

Projecting your incapability to realise making money - good, Promotion- good, onto me, doesn't really help your case. 

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4 minutes ago, oaksoft said:

It's really disappointing that you cant accept where you are lacking in understanding over these accounts.

Please tell me tou have no ambition to be part of the BOD when fans take over the club.

To be fair to bazil, the way operating profit  is disclosed has changed from last year's accounts to this year's. Changes in accounting standards and policies in recent years have changed the formats, disclosure and wording. 

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Just now, Soctty said:

To be fair to bazil, the way operating profit  is disclosed has changed from last year's accounts to this year's. Changes in accounting standards and policies in recent years have changed the formats, disclosure and wording. 

Hence the splitting hairs comment. Cheers Soctty, never thought I'd say that :lol:

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5 minutes ago, bazil85 said:

I happen to understand accounting to a relatively high level actually. I used the wrong expression, oh gosh! Where do I stand to get tarred and feathered?

You twisting things and splitting hairs does not change facts that we recorded a much improved profit for the last FY on top of getting promoted.  

In what way is it 'worrying' we spent money that had come in and it paid off? 

No need for tarring and feathering but when you accuse someone who does understand accounting of splitting hairs and use the same post to have a go at other posters for being negative you have a duty to acknowledge your mistake instead of having it wrung out of you over 3 pages of the thread.

That last sentence of yours, you can kick that into the sea. Literally not a single poster has made that claim except you. Dont put words in my mouth if you want a decent conversstion.

If you want to discuss WHY it is more important to consider operating profits/loss rather than pretax profits then I will be happy to do so but you need to shelve any pretence that you have any accounting background first. Your posts are giving you away. Anyone with a shred of accountancy understanding will know exactly why our operating profit result is spine chilling.

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