Trading accounts to end of May 2023

[W6er]

 

We've made a loss of £57,000, which in the grand scheme of things is nothing. BUT, that is with a player trading profit which might not be the case every season and a top-six finish. It's important that we consider worst case scenarios. Ideally we should be making a small profit. However, it's certainly a step in the right direction. I just hope the club are preparing for the proverbial rainy day. 

[bazil85]

Huge improvement on last year. Do we get to give credit to the kibble for good news or are they only responsible when it’s bad? 😂

[W6er]

3 hours ago, bazil85 said:

Huge improvement on last year. Do we get to give credit to the kibble for good news or are they only responsible when it’s bad? 😂

It is a huge improvement. However, we finished in the top six, so received considerably more prize money than we would have if we finished 10th. We should not budget for finishing in the top six, and what happens if we have a dire run this year and end in 10th position? We will also see a decline in our attendances if we have a bad season.

I don't want to appear to be overly critical, but given that was our most successful league campaign since the 1980s, does it nor concern anybody else that we still made a loss?

The club is hopefully looking into this and there's currently no need to panic, but hopefully those in charge of the club will realise that something needs to be done. We're fan owned now, we have nobody to bail us out. 

[bazil85]

7 hours ago, W6er said:

It is a huge improvement. However, we finished in the top six, so received considerably more prize money than we would have if we finished 10th. We should not budget for finishing in the top six, and what happens if we have a dire run this year and end in 10th position? We will also see a decline in our attendances if we have a bad season.

I don't want to appear to be overly critical, but given that was our most successful league campaign since the 1980s, does it nor concern anybody else that we still made a loss?

The club is hopefully looking into this and there's currently no need to panic, but hopefully those in charge of the club will realise that something needs to be done. We're fan owned now, we have nobody to bail us out. 

For me, it’s more about the progress. We know things are too expensive & have changed our operating model to be more cost effective. Don’t think anyone expected we’d be able to fully implement that in one year, after last years results. 
 

The results show we aren’t the finished article but it’s a big step in the right direction. It’ll probably be two or three seasons of work behind the scenes before we are fully in a position to take the sort of hits that would come with a poor season. These changes are rarely (if ever) instant. 
 

Overall, these results for me say that we have been able to take a far bigger than expected step in the right direction, because we had such a strong season. 

[StanleySaint]

11 minutes ago, bazil85 said:

For me, it’s more about the progress. We know things are too expensive & have changed our operating model to be more cost effective. Don’t think anyone expected we’d be able to fully implement that in one year, after last years results. 
 

The results show we aren’t the finished article but it’s a big step in the right direction. It’ll probably be two or three seasons of work behind the scenes before we are fully in a position to take the sort of hits that would come with a poor season. These changes are rarely (if ever) instant. 
 

Overall, these results for me say that we have been able to take a far bigger than expected step in the right direction, because we had such a strong season. 

I would wholeheartedly agree with this rather than your earlier controversial statement, it is good that all owners of the club are contributing to the improvement in fiscal matters but your original statement to me belittles the impact of our new CEO, Lasley is making the difference, not alone but he appears to be in charge and rightly so.

[bazil85]

6 minutes ago, StanleySaint said:

I would wholeheartedly agree with this rather than your earlier controversial statement, it is good that all owners of the club are contributing to the improvement in fiscal matters but your original statement to me belittles the impact of our new CEO, Lasley is making the difference, not alone but he appears to be in charge and rightly so.

It was tongue in cheek & poking fun at the ‘Kibble bad’ brigade. It’s almost Christmas, lighten up  

Edited November 28, 2023 by bazil85

[StanleySaint]

Not like you to make a joke, no wonder I didn't spot it.

[BuddieinEK]

18 minutes ago, StanleySaint said:

Not like you to make a joke, no wonder I didn't spot it.

It wasn't a joke. 

It was baiting. 🤐

[bazil85]

3 hours ago, BuddieinEK said:

It wasn't a joke. 

It was baiting. 🤐

Seemed to work then. 👀👀👀

[waldorf34]

16 hours ago, W6er said:

 

We've made a loss of £57,000, which in the grand scheme of things is nothing. BUT, that is with a player trading profit which might not be the case every season and a top-six finish. It's important that we consider worst case scenarios. Ideally we should be making a small profit. However, it's certainly a step in the right direction. I just hope the club are preparing for the proverbial rainy day. 

If you make a profit you pay tax ,better to make small loss and invest in players or assets 

[W6er]

7 minutes ago, waldorf34 said:

If you make a profit you pay tax ,better to make small loss and invest in players or assets 

I hadn't considered that! Good point.  

[The Original 59er]

This season is another case of getting better crowds and more income and so far optimistically the Club is looking up rather than down (other than at those behind us in the league).

So I would say a good step in the right direction, but success brings its own problems, as both the terrible twins will testify, success breeds success and failure to replicate it brings different pressures which in our case will be difficult to consistently replicate.

So let's all enjoy this moment when we can and as we all remember the debt that built up in the 80's trying to keep up with the Jones's left us with a headache that we were lucky to get out of.

[faraway saint]

2 hours ago, The Original 59er said:

This season is another case of getting better crowds and more income and so far optimistically the Club is looking up rather than down (other than at those behind us in the league).

So I would say a good step in the right direction, but success brings its own problems, as both the terrible twins will testify, success breeds success and failure to replicate it brings different pressures which in our case will be difficult to consistently replicate.

So let's all enjoy this moment when we can and as we all remember the debt that built up in the 80's trying to keep up with the Jones's left us with a headache that we were lucky to get out of.

I'm far from convinced by the insinuation that success brings the possibility of financial collapse any closer as the people who run the club, thankfully, are not the same breed we have had in the past.

Success for us, IMO, is consistently being in the top six and improving our runs in the cups which have been disappointing.

Small steps, which the club seem to be in control of, could see us achieve the above.