More redundancies. Where are you SMISA?

[faraway saint]

5 minutes ago, bazil85 said:

My reading. 

Covid & other one off costs have hurt the clubs finances. Steps taken to prevent reoccurrence & move us to break even from this year. Lots of positivity on & off the pitch since May 2022, especially in increasing attendance. 
 

Tough Financial time for our club (like many others) but it seems completely clear, claims of financial collapse & risk to the clubs future were completely fabricated…. who’d a guessed it 🤷‍♂️
 

No real surprises in the accounts summary. 

I would add that, while it's far from the drama some try to paint, if we don't take steps to reduce losses we COULD find ourselves in a very deep hole.

I happen to believe this is a time for stability and no knee jerk reactions, we have people in the right positions, especially with Tony out of the picture, to do the right thing. 

[bazil85]

13 minutes ago, faraway saint said:

I would add that, while it's far from the drama some try to paint, if we don't take steps to reduce losses we COULD find ourselves in a very deep hole.

I happen to believe this is a time for stability and no knee jerk reactions, we have people in the right positions, especially with Tony out of the picture, to do the right thing. 

2023 is an awful strange year… I agree with everything FS has said here 😂

[TPAFKA Jersey 2]

34 minutes ago, bazil85 said:

My reading. 

Covid & other one off costs have hurt the clubs finances. Steps taken to prevent reoccurrence & move us to break even from this year. Lots of positivity on & off the pitch since May 2022, especially in increasing attendance. 
 

Tough Financial time for our club (like many others) but it seems completely clear, claims of financial collapse & risk to the clubs future were completely fabricated…. who’d a guessed it 🤷‍♂️
 

No real surprises in the accounts summary. 

Average home league attendance this season is 5973.

That will only keep going up if we maintain or better still improve our current form. 

[TPAFKA Jersey 2]

Another positive stat this season is that we’ve only been outside the top 6 after 4 match days, 3 of which were the first 3.

I hadn’t realised that. 

Edited January 11, 2023 by TPAFKA Jersey 2

[Sue Denim]

1 hour ago, bazil85 said:

My reading. 

Covid & other one off costs have hurt the clubs finances. Steps taken to prevent reoccurrence & move us to break even from this year. 

Your reading is wrong.

The report clearly states that all that has been agreed is that there will be a “strategy” to move to a break even basis….… 

And that strategy will begin *next* financial year.

You’ll attempt to spin otherwise but I recognise that will be down to your ignorance and stupidity.

Edited January 11, 2023 by Sue Denim

[Sue Denim]

Just had a quick read of the actual accounts (unlike Baz who just read a screenshot of a summary on this forum)

We’ve got net current assets of £929,510 and liabilities after more than 1 year of £1,083,494 (mainly the government loans)

Edited January 11, 2023 by Sue Denim

[Sue Denim]

Wage bill has increased from £3,165,331 to £3,899,396

That’s an increase of £734,065

That’s got nothing to do with Covid or one off refurbishments of the training ground.

The accounts state the break even strategy doesn’t start until next financial year so that 900k in the bank will be greatly reduced by next year

Edited January 11, 2023 by Sue Denim

[buddiecat]

Suppliers contracts will be reviewed it states in the report. That to me means we had not been very prudent in choosing suppliers and there are probably other suppliers who can give us a fairer price for their services. Doesn’t read well for those responsible for the awarding of contracts at the time.

[Slarti]

Suppliers contracts will be reviewed it states in the report. That to me means we had not been very prudent in choosing suppliers and there are probably other suppliers who can give us a fairer price for their services. Doesn’t read well for those responsible for the awarding of contracts at the time.

Most businesses review their suppliers contracts on a regular basis so it means nothing of the sort. I would worry if they didn't do it. Don't you shop around for the best priced gas/electric/broadband/etc suppliers? And just because another supplier offers a better deal now, it doesn't mean that they did when the last contract was taken out. Methinks you have your big spoon out.

[Slarti]

Wage bill has increased from £3,165,331 to £3,899,396
That’s an increase of £734,065
That’s got nothing to do with Covid or one off refurbishments of the training ground.
The accounts state the break even strategy doesn’t start until next financial year so that 900k in the bank will be greatly reduced by next year

How do you know that?

[Slarti]

Your reading is wrong.
The report clearly states that all that has been agreed is that there will be a “strategy” to move to a break even basis….… 
And that strategy will begin *next* financial year.
You’ll attempt to spin otherwise but I recognise that will be down to your ignorance and stupidity.

Would that be next financial year from now or next financial year from the year the report is reporting on?

[Slarti]

Another positive stat this season is that we’ve only been outside the top 6 after 4 match days, 3 of which were the first 3.
I hadn’t realised that. 

The only week that matters for that is week 33.

[Slarti]

Just had a quick read of the actual accounts (unlike Baz who just read a screenshot of a summary on this forum)
We’ve got net current assets of £929,510 and liabilities after more than 1 year of £1,083,494 (mainly the government loans)

The government loans are nothing to worry about given the 0% interest and length of repayment.

[bazil85]

1 hour ago, Sue Denim said:

Your reading is wrong.

The report clearly states that all that has been agreed is that there will be a “strategy” to move to a break even basis….… 

And that strategy will begin *next* financial year.

You’ll attempt to spin otherwise but I recognise that will be down to your ignorance and stupidity.

‘Steps taken to prevent reoccurrence & move us to break even’
 

You mean like I said? Good effort but you’ve again made an utter fool of yourself. 
 

Steps taken - Like putting a strategy in place for example 🤷‍♂️

[Slarti]

Just had a quick read of the actual accounts (unlike Baz who just read a screenshot of a summary on this forum)
We’ve got net current assets of £929,510 and liabilities after more than 1 year of £1,083,494 (mainly the government loans)

Wage bill has increased from £3,165,331 to £3,899,396
That’s an increase of £734,065
That’s got nothing to do with Covid or one off refurbishments of the training ground.
The accounts state the break even strategy doesn’t start until next financial year so that 900k in the bank will be greatly reduced by next year

I haven't read it yet, I'll get round to it later, but is it about £900k in net assets or £900k in the bank? They're different things.

[TPAFKA Jersey 2]

17 minutes ago, Slarti said:

2 hours ago, TPAFKA Jersey 2 said:

Another positive stat this season is that we’ve only been outside the top 6 after 4 match days, 3 of which were the first 3.
I hadn’t realised that. 

The only week that matters for that is week 33.

Aye awrite cheery chops. 

[djchapsticks]

1 hour ago, Sue Denim said:

Your reading is wrong.

The report clearly states that all that has been agreed is that there will be a “strategy” to move to a break even basis….… 

And that strategy will begin *next* financial year.

You’ll attempt to spin otherwise but I recognise that will be down to your ignorance and stupidity.

Next financial year meaning the financial year following the report. 2022/23. The financial year we are currently in.

The aim is to be break even again by the end of financial year 2023/24 so I expect another modest loss next year unless we sell players this month which is pretty realistic at this point.

Edited January 11, 2023 by djchapsticks

[Maboza]

1 hour ago, buddiecat said:

Suppliers contracts will be reviewed it states in the report. That to me means we had not been very prudent in choosing suppliers and there are probably other suppliers who can give us a fairer price for their services. Doesn’t read well for those responsible for the awarding of contracts at the time.

Would love to know the cost comparison of SGL stewarding after it was hurriedly put in place after the previous contract was discontinued. 

[Albanian Buddy]

3 hours ago, TPAFKA Jersey 2 said:

Average home league attendance this season is 5973.

That’s superb! Considering we are in a cost of living crisis. 

Excel or (10) sheets?

Or did you do the calculation in your head as you’re a clever banker? 😂 

[garzo]

Controlling party: The company is under the joint control of The 1877 Society Limited and Kibble Education and Care
Centre.

Is this fan control and ownership? Not sure this is what @smisa deal was or even my understanding after the kibble deal.

Does 51% not mean The 1877 Society Limited are controlling party?

What am I missing?

[TPAFKA Jersey 2]

9 hours ago, Albanian Buddy said:

That’s superb! Considering we are in a cost of living crisis. 

Excel or (10) sheets?

Or did you do the calculation in your head as you’re a clever banker? 😂 

Ha ha. I used this website….

https://www.footballwebpages.co.uk/st-mirren/attendances
…..and a good old fashioned calculator. 😀

[Cookie Monster]

Controlling party: The company is under the joint control of The 1877 Society Limited and Kibble Education and Care
Centre.
Is this fan control and ownership? Not sure this is what[mention=15962]smisa[/mention] deal was or even my understanding after the kibble deal.
Does 51% not mean The 1877 Society Limited are controlling party?
What am I missing?

Because we are working with and not against.

[TPAFKA Jersey 2]

22 minutes ago, TPAFKA Jersey 2 said:

Ha ha. I used this website….

https://www.footballwebpages.co.uk/st-mirren/attendances
…..and a good old fashioned calculator. 😀

Interesting as well that our top 3 attendances this season haven’t involved Celtic or Rangers. 
In fact if you looked at the average attendances of the other clubs, I bet they’d be skewed by them having bigger grounds and therefore bigger crowds against the OF. 
Would be interesting to see the average crowds of each team stripping out matches against them. 
For the avoidance of doubt, I was sad enough to take 5 minutes to do ours, I’m no sad enough to do that. 🤣

[WeeBud]

1 minute ago, TPAFKA Jersey 2 said:

Interesting as well that our top 3 attendances this season haven’t involved Celtic or Rangers. 
In fact if you looked at the average attendances of the other clubs, I bet they’d be skewed by them having bigger grounds and therefore bigger crowds against the OF. 
Would be interesting to see the average crowds of each team stripping out matches against them. 
For the avoidance of doubt, I was sad enough to take 5 minutes to do ours, I’m no sad enough to do that. 🤣

Where's that guy that counts the dots.......he must have plenty time on his hands.

[Albanian Buddy]

24 minutes ago, WeeBud said:

Where's that guy that counts the dots.......he must have plenty time on his hands.

Over to you @W6er