Mrs Budge

[greenginger]

Just been taking a look at the HOMFC accounts to June 2015 and noticed a difference between those accounts and the Bidco 1874 accounts published last month.

Staff costs for the Football Club are £ 3,798,000 compared to £ £ 4,039,000 for the holding company. There are the same number of players, admin. staff and part timers (208 ). That is £ 241,000 of a difference.

To my ( untrained in accountancy mind ) that can only be a directors fee paid to a director of Bidco and there is only one director of Bidco, Mrs Budge.

Has she been paying herself for her efforts in saving the Yams over and above her juicy interest rates ?

Or am I just over -suspicious of anything to do with Yams and money.

[O'Rourke3]

A difference in the accounts you say..... I could be wrong but I think I've heard that before.

Sent via the bushes @ EM

[CropleyWasGod]

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Just been taking a look at the HOMFC accounts to June 2015 and noticed a difference between those accounts and the Bidco 1874 accounts published last month.

Staff costs for the Football Club are £ 3,798,000 compared to £ £ 4,039,000 for the holding company. There are the same number of players, admin. staff and part timers (208 ). That is £ 241,000 of a difference.

To my ( untrained in accountancy mind ) that can only be a directors fee paid to a director of Bidco and there is only one director of Bidco, Mrs Budge.

Has she been paying herself for her efforts in saving the Yams over and above her juicy interest rates ?

Or am I just over -suspicious of anything to do with Yams and money.

Directors' payments would have to be disclosed separately.

[Viva_Palmeiras]

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Just been taking a look at the HOMFC accounts to June 2015 and noticed a difference between those accounts and the Bidco 1874 accounts published last month.

Staff costs for the Football Club are £ 3,798,000 compared to £ £ 4,039,000 for the holding company. There are the same number of players, admin. staff and part timers (208 ). That is £ 241,000 of a difference.

To my ( untrained in accountancy mind ) that can only be a directors fee paid to a director of Bidco and there is only one director of Bidco, Mrs Budge.

Has she been paying herself for her efforts in saving the Yams over and above her juicy interest rates ?

Or am I just over -suspicious of anything to do with Yams and money.

Do they have identical reporting periods?

[brog]

By chance this week I fell into the google domino trap. You know, when you go to look something up, see something interesting in a linked window & then you're off & running, totally forgetting what you originally tried to find! Anyway my excursion into unknown territory took me back to 2008 & I was astonished to find at that time that Yams were 1) refusing to pay Arbroath comp for Andy Webster, 2) were already paying wages late 2 months running, the first was described as an administrative mix up in Lithuania but the 2nd couldn't be explained, 3) were in dispute with an unnamed player over an unpaid bonus!
This was 5 years before they went into admin & interestingly the papers at the time were openly reporting wages were being paid through Kaunas FC. As GG reminds us, really no different than Oldco's EBT wheeze & I'm sure it must have contravened SFA regulations as well.
One amusing piece which I had forgotten. Yams wanted £5m for Webster, honest!. UEFA awarded them £625k, Yams appealed & it was reduced to £150k!! Wonderful!

[Danderhall Hibs]

Same number of players on the books but presumably different players making up these numbers and they'll all be in different wages?

Am I making this too simple?

[JimBHibees]

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Same number of players on the books but presumably different players making up these numbers and they'll all be in different wages?

Am I making this too simple?

Maybe some of the younger players getting new contracts or some sort of year on year increase agreed with some of the players?

[greenginger]

Both sets of accounts are to 30th June 2015 , both sets of accounts note the amounts of social security as £ 339,000 so the whatever the extra wages/salary cost was, it was not subject to N I.

There are no mention of Directors fees in the Bidco accounts.

[CropleyWasGod]

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Both sets of accounts are to 30th June 2015 , both sets of accounts note the amounts of social security as £ 339,000 so the whatever the extra wages/salary cost was, it was not subject to N I.

There are no mention of Directors fees in the Bidco accounts.

I suspect it's a FU. If the staff numbers are the same, the costs have to be the same.

One figure will, correctly, exclude NI. The other won't. It's a common error.

[greenginger]

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I suspect it's a FU. If the staff numbers are the same, the costs have to be the same.

One figure will, correctly, exclude NI. The other won't. It's a common error.

But if its a Directors fee paid by Bidco 1874 , it would'nt vary the staff numbers or NI between HOMFC and the parent company Bidco.

It just should be noted somewhere in the accounts.

[CropleyWasGod]

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But if its a Directors fee paid by Bidco 1874 , it would'nt vary the staff numbers or NI between HOMFC and the parent company Bidco.

It just should be noted somewhere in the accounts.

Directors are counted as staff for the purposes of HMRC and the staff note in the accounts. So the staff numbers should be the same.

If it is a fee to AB, then that's a FU. Less common than the NI one, and more important IMO, but still possible.

[greenginger]

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Directors are counted as staff for the purposes of HMRC and the staff note in the accounts. So the staff numbers should be the same.

If it is a fee to AB, then that's a FU. Less common than the NI one, and more important IMO, but still possible.

The NI error could be that the NI cost have been included in the wages costs and then noted again separately. ?

[Ronniekirk]

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Just been taking a look at the HOMFC accounts to June 2015 and noticed a difference between those accounts and the Bidco 1874 accounts published last month.

Staff costs for the Football Club are £ 3,798,000 compared to £ £ 4,039,000 for the holding company. There are the same number of players, admin. staff and part timers (208 ). That is £ 241,000 of a difference.

To my ( untrained in accountancy mind ) that can only be a directors fee paid to a director of Bidco and there is only one director of Bidco, Mrs Budge.

Has she been paying herself for her efforts in saving the Yams over and above her juicy interest rates ?

Or am I just over -suspicious of anything to do with Yams and money.

That will be her pin money for a good X mass . She probably feels she deserves a Wee bonus for her efforts

[CropleyWasGod]

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The NI error could be that the NI cost have been included in the wages costs and then noted again separately. ?

Could be.

It would be wrong, but like I say it's a common error.

Auditors would be due a kicking if that were the case.

Email em...you know you want to :)

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[greenginger]

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Could be.

It would be wrong, but like I say it's a common error.

Auditors would be due a kicking if that were the case.

Email em...you know you want to :)

Sent from my GT-I9505 using Tapatalk

I don't think I'm on Johnston Carmichael's Christmas card list after the last email I sent them.

I saw our Jambo visitor Son of Haggart on this thread a while ago. Maybe he will came back with the Yams explanation/excuse.

[mca]

Maybe They Forgot to add the Wages for The Wee gas Heater in the Robbo Sweet.. and The Light-Bulb.. ??