beyond our ken Posted July 26, 2022 Report Share Posted July 26, 2022 3 minutes ago, exiledfan said: It may also be that Lasley wants to restructure to his philosophy for running the club. I doubt it, unless any of these supposed letters have been issued to all club employees. Quote Link to comment Share on other sites More sharing options...
portmahomack saint Posted July 26, 2022 Report Share Posted July 26, 2022 I'm actually surprised some people are taking this seriously Quote Link to comment Share on other sites More sharing options...
Cumbriansaint72 Posted July 26, 2022 Report Share Posted July 26, 2022 2 hours ago, FTOF said: Indeed. Our previous manager has a lot to answer for. Main's contribution so far, on a substantial salary too, is worse. Agree, although did start to be a bit better towards the end of season. However surely his medical prior to signing would have flagged up his long-term injury that required surgery. Quote Link to comment Share on other sites More sharing options...
ALBIONSAINT Posted July 26, 2022 Report Share Posted July 26, 2022 5 hours ago, animal said: Sorry to have to say it, but I have just confirmed the redundancies and the debt from a second reliable source. Is it a guy from the same pub or a pub closer to Ralston? Quote Link to comment Share on other sites More sharing options...
Ayrshire Saints Posted July 27, 2022 Report Share Posted July 27, 2022 The minutes of the SMISA meeting have been sent to members today. No mention of any debt never mind £1m under the questions on finances !Sent from my SM-A750FN using Tapatalk Quote Link to comment Share on other sites More sharing options...
faraway saint Posted July 27, 2022 Report Share Posted July 27, 2022 (edited) 13 minutes ago, Ayrshire Saints said: The minutes of the SMISA meeting have been sent to members today. No mention of any debt never mind £1m under the questions on finances ! Sent from my SM-A750FN using Tapatalk Aye, but what about the guy who spoke to another guy and said it was all true? Edited July 27, 2022 by faraway saint Quote Link to comment Share on other sites More sharing options...
Rascal Posted July 27, 2022 Report Share Posted July 27, 2022 (edited) 4 minutes ago, faraway saint said: Aye, but what about the gut who spoke to another guy and said it was all true? Gut. The gut spoke to a guy. What are you drinking. Was it a gut feeling or a gut reaction. Not on a train, I hope. Edited July 27, 2022 by Rascal Quote Link to comment Share on other sites More sharing options...
kevo_smfc Posted July 27, 2022 Report Share Posted July 27, 2022 13 minutes ago, Rascal said: Gut. The gut spoke to a guy. What are you drinking. Was it a gut feeling or a gut reaction. Not on a train, I hope. Did it go along the lines of gurgle gurgle. Quote Link to comment Share on other sites More sharing options...
Guest Posted July 27, 2022 Report Share Posted July 27, 2022 16 minutes ago, Ayrshire Saints said: The minutes of the SMISA meeting have been sent to members today. No mention of any debt never mind £1m under the questions on finances ! Sent from my SM-A750FN using Tapatalk I guess we are just going to have to wait until the audited accounts are released and the AGM is held to get true picture. For the time being we are still one of the best run clubs in Europe. Why did we not release some T-Shirts celebrating that? Missed opportunity? Quote Link to comment Share on other sites More sharing options...
HSS Posted July 27, 2022 Report Share Posted July 27, 2022 17 hours ago, animal said: Was out for a pint today and met a couple of supporters who told me that requests for voluntary redundancy letters are out to Academy staff, including the top coaches (the very people that identify upcoming talent like McGinn, Reid, Erhahon etc) with the possible exception of one. My sources said this is not a case of a particular job being made redundant so it has to be cost cutting as it is a broad brush approach. They both also informed me that we are well over a million in debt now and the chairman only confirmed this was the situation under pressure of questioning at the recent SMISA meeting. I really hope this is not the case. The Academy is a proven success story and the core of our club. We totally depend on the team there for future gems. It should be the last stop for cutbacks! Sorry to disappoint you about the million pound debt……………. Quote Link to comment Share on other sites More sharing options...
faraway saint Posted July 27, 2022 Report Share Posted July 27, 2022 18 minutes ago, kevo_smfc said: Did it go along the lines of gurgle gurgle. Depends what end it comes out. 🤔 😉 Quote Link to comment Share on other sites More sharing options...
FTOF Posted July 27, 2022 Report Share Posted July 27, 2022 The minutes of the SMISA meeting have been sent to members today. No mention of any debt never mind £1m under the questions on finances !Sent from my SM-A750FN using TapatalkIt did mention that we were better off financially compared to this time last year.Sent from my SM-A405FN using Tapatalk Quote Link to comment Share on other sites More sharing options...
faraway saint Posted July 27, 2022 Report Share Posted July 27, 2022 7 minutes ago, FTOF said: It did mention that we were better off financially compared to this time last year. Sent from my SM-A405FN using Tapatalk Who to believe? Quote Link to comment Share on other sites More sharing options...
JJ McG Posted July 27, 2022 Report Share Posted July 27, 2022 1 hour ago, Ayrshire Saints said: The minutes of the SMISA meeting have been sent to members today. No mention of any debt never mind £1m under the questions on finances ! Sent from my SM-A750FN using Tapatalk What about the mate he was out for a pint with though? 🙃 Quote Link to comment Share on other sites More sharing options...
Ayrshire Saints Posted July 27, 2022 Report Share Posted July 27, 2022 It did mention that we were better off financially compared to this time last year.Sent from my SM-A405FN using TapatalkIt did indeed. Maybe the guy in the pub was saying the debt was 1.5m this time last year though [emoji2957]Sent from my SM-A750FN using Tapatalk Quote Link to comment Share on other sites More sharing options...
waldorf34 Posted July 27, 2022 Report Share Posted July 27, 2022 2 hours ago, HSS said: Sorry to disappoint you about the million pound debt……………. We are paying back government money over 20 years ,so nothing to worry about if our annual accounts allow for the annual payment and still show a profit and healthy cash balance. Quote Link to comment Share on other sites More sharing options...
portmahomack saint Posted July 27, 2022 Report Share Posted July 27, 2022 Taxi driver that picked me up last night, lovely big Merc people carrier by the way.. said he picked up a guy who was a Tax inspector from Larkhall who told him StMirren are in a worse state than the Glorious Glasgow Rangers were in, told him HMRC are about to pull the plug any day now.. Also said he'd been out working for 6 hours and only made £20... felt bad so I gave the guy a £10 tip Quote Link to comment Share on other sites More sharing options...
beyond our ken Posted July 27, 2022 Report Share Posted July 27, 2022 seems a silly thing to start spurious rumours about, Taxi drivers are not the most reliable sources anyway this will be proven or disproved at the release of accounts and the AGM Quote Link to comment Share on other sites More sharing options...
div Posted July 27, 2022 Report Share Posted July 27, 2022 Worth looking at the Chairman's Report in the last set of accounts to the year ending May 2021; Quote Chairman's Report After a very challenging year dealing with the impacts of COVID-19 your Board are able to report a modest loss of £45,191 before depreciation, Government grants and gain on investments. Given the restrictions placed on the Club, and everyone connected with it as a result of the pandemic, this is indeed a creditable performance. We want to place on record that this was only made possible by the loyalty and generosity of our Season Ticket Holders , Pay Per View Subscribers, Sponsors and fans. In line with most Premiership clubs we have taken advantage of the offer of interest free loan facilities from the Scottish Government which have a long (20 year) repayment term. We are confident that despite the pandemic impacting for longer than envisaged we are in a position to be able to navigate our way through the current period and meet the repayment schedule commencing in September 2022. Whilst there was no urgent need for this borrowing we felt that it would be irresponsible not to take advantage of this loan in case the pandemic escalated further or persisted longer. Because of the preferential terms of the Loan, the accounting rules mean that we have to show an entry that reflects an estimate of the monetary value of the discounted loan terms when compared to a commercial arrangement. You will see that his has the effect of inflating the bottom line profit being reported by £729,023. This is a paper adjustment and does not reflect true cash income to the Club. We had a successful season on the park following our decision to increase the investment in the playing squad in the Summer of 2020. This resulted in our highest league placing for many years in addition to Semi Final appearances in the Betfred Cup and Scottish Cup. Congratulations are due to the players and management team for this success. As a result of learnings from the pandemic upgrade works are being undertaken at our Ralston Training Ground and the healthy financial position reported has enabled us to embark on renewals that were required around the SMISA Stadium to maintain and improve the facilities to the standards our fans would expect. Finally on behalf of the Board I thank you all for your ongoing support. 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. Quote Link to comment Share on other sites More sharing options...
exiledfan Posted July 27, 2022 Report Share Posted July 27, 2022 27 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. My thoughts exactly. I can't see how you would lose 1 million quid from a 45 k loss. Particularly when that loss was made without fans at games. Quote Link to comment Share on other sites More sharing options...
beyond our ken Posted July 27, 2022 Report Share Posted July 27, 2022 I think it is just as unwise to offer explanations for this rumour taken from last years accounts as it is to take this rumour at face value. Nothing here to get agitated about yet. The loan from the government might be soft that it's flaccid, it is still 50k per year and if we are operating at a loss before accounting for that then it is maybe a problem, just not an insurmountable one We won't know until we know, either way. Quote Link to comment Share on other sites More sharing options...
markovanhaddock Posted July 27, 2022 Report Share Posted July 27, 2022 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. Quote Link to comment Share on other sites More sharing options...
mattman Posted July 27, 2022 Report Share Posted July 27, 2022 Sorry just don’t believe for a second we could go from being in the top 10 best ran clubs in Europe to 1 million in debt in such a short space of time. Why do these rumours appear when the performances on the pitch have been below par 😂 Quote Link to comment Share on other sites More sharing options...
Rascal Posted July 27, 2022 Report Share Posted July 27, 2022 Just now, mattman said: Sorry just don’t believe for a second we could go from being in the top 10 best ran clubs in Europe to 1 million in debt in such a short space of time. Why do these rumours appear when the performances on the pitch have been below par 😂 The debt isn’t a problem. It was taken out under government support loan for COVID. Very “soft” terms. Would have been madness not to take it. The issue is to find £50k pa to pay it back and this needs to come out of income earned, or reserves. Quote Link to comment Share on other sites More sharing options...
mattman Posted July 27, 2022 Report Share Posted July 27, 2022 1 minute ago, Rascal said: The debt isn’t a problem. It was taken out under government support loan for COVID. Very “soft” terms. Would have been madness not to take it. The issue is to find £50k pa to pay it back and this needs to come out of income earned, or reserves. I don’t see it an issue at all, you wouldn’t take a loan unless you could pay it back. Quote Link to comment Share on other sites More sharing options...
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