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Thread: Finances

  1. #61
    @hibs.net private member CropleyWasGod's Avatar
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    Quote Originally Posted by Hibbyradge View Post
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    Indeed.

    Do the accounts detail income from shop sales?
    No. Our Turnover isn't detailed in any way.

    Hence the constant and repetitive debates about comparing ours with that of other clubs, which are largely meaningless IMO.


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  3. #62
    @hibs.net private member Hibbyradge's Avatar
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    Quote Originally Posted by danhibees1875 View Post
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    Nope - unless I'm completely missing it.

    For y/e 30/6/17, total revenue was 7.7m, up from 7.0m and they cite the increase as being due to "increased ST sales, participation in Europe, and higher retail income" - so it's in there somewhere and noteable enough to be worthy of commentary.
    That sounds like a summary.

    Isn't there a more detailed breakdown?

    If not, why are folk saying we'll find out how much we got for SJM in next year's accounts?
    Buy nothing online unless you check for free cashback here first. I've already earned 1,789.68!



  4. #63
    @hibs.net private member CropleyWasGod's Avatar
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    Quote Originally Posted by Hibbyradge View Post
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    That sounds like a summary.

    Isn't there a more detailed breakdown?

    If not, why are folk saying we'll find out how much we got for SJM in next year's accounts?
    The SJM money isn't included in Turnover. It's shown separately as a "gain on Intangible Assets".

    That figure, too, is shown as a total.... so, given that we also sold Murray in this season, we will have to make a guess on the SJM element of the gain.

  5. #64
    Quote Originally Posted by CropleyWasGod View Post
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    The SJM money isn't included in Turnover. It's shown separately as a "gain on Intangible Assets".

    That figure, too, is shown as a total.... so, given that we also sold Murray in this season, we will have to make a guess on the SJM element of the gain.
    Does the entire gain appear in the year of the transfer or is it split over several years if payment is in instalments?

  6. #65
    @hibs.net private member danhibees1875's Avatar
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    Quote Originally Posted by Hibbyradge View Post
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    That sounds like a summary.

    Isn't there a more detailed breakdown?

    If not, why are folk saying we'll find out how much we got for SJM in next year's accounts?
    The summary is all the detail you get on turnover unfortunately.

    Ask Jamie Marwick nicely for a look at their trial balance at the next AGM.
    Mon the Hibs.

  7. #66
    Aye but tick tock, 5-1 etc

  8. #67
    @hibs.net private member CropleyWasGod's Avatar
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    Quote Originally Posted by ballengeich View Post
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    Does the entire gain appear in the year of the transfer or is it split over several years if payment is in instalments?
    That I am not sure about.

    From an accounting purist point of view, I would think that the entire basic fee would be included at the date of the deal (ie, for SJM, in 2018/19). If that is payable in instalments, then the unpaid element would be shown as a debtor.

    However, if the clubs agree that each instalment is the subject of a separate invoice (and, hence, tax-point), they would be included in the appropriate years. ie spread over those years

    Add-ons would be included in the year they are paid, since we can't know how much they will be until they arise.

  9. #68
    Quote Originally Posted by CropleyWasGod View Post
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    That I am not sure about.

    From an accounting purist point of view, I would think that the entire basic fee would be included at the date of the deal (ie, for SJM, in 2018/19). If that is payable in instalments, then the unpaid element would be shown as a debtor.

    However, if the clubs agree that each instalment is the subject of a separate invoice (and, hence, tax-point), they would be included in the appropriate years. ie spread over those years

    Add-ons would be included in the year they are paid, since we can't know how much they will be until they arise.
    Thanks

  10. #69
    Quote Originally Posted by CropleyWasGod View Post
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    That I am not sure about.

    From an accounting purist point of view, I would think that the entire basic fee would be included at the date of the deal (ie, for SJM, in 2018/19). If that is payable in instalments, then the unpaid element would be shown as a debtor.

    However, if the clubs agree that each instalment is the subject of a separate invoice (and, hence, tax-point), they would be included in the appropriate years. ie spread over those years

    Add-ons would be included in the year they are paid, since we can't know how much they will be until they arise.
    I would argue that if it is a definite fee it should all be recognised in the year it arose regardless of the invoicing procedure - it would be accrued if invoices hadn't been raised. If the instalments are in any way conditional then the income wouldn't be recognised until the conditions had been met (e.g. number of appearances, promotion etc.)

    Sorry if this is getting too exciting for some of you.

  11. #70
    @hibs.net private member CropleyWasGod's Avatar
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    Quote Originally Posted by Caversham Green View Post
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    I would argue that if it is a definite fee it should all be recognised in the year it arose regardless of the invoicing procedure - it would be accrued if invoices hadn't been raised. If the instalments are in any way conditional then the income wouldn't be recognised until the conditions had been met (e.g. number of appearances, promotion etc.)

    Sorry if this is getting too exciting for some of you.
    I am almost tumescent.

    And I would agree with you.... big boy.....

    And then there's the VAT tax point. More, right there....

  12. #71
    @hibs.net private member Hibbyradge's Avatar
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    Quote Originally Posted by CropleyWasGod View Post
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    I am almost tumescent.

    And I would agree with you.... big boy.....

    And then there's the VAT tax point. More, right there....
    Buy nothing online unless you check for free cashback here first. I've already earned 1,789.68!



  13. #72
    Quote Originally Posted by CropleyWasGod View Post
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    I am almost tumescent.

    And I would agree with you.... big boy.....

    And then there's the VAT tax point. More, right there....
    Don't get me started on VAT tax points.


    Please?

    Anyway, isn't the idea of VAT on transfers a bit pointless? Villa will pay the VAT on SJM's transfer, Hibs will pay it to HMRC and Villa will claim it back - no gain to anyone. I think there's a case for them being outwith the scope....but that's probably for another epic thread.

  14. #73
    @hibs.net private member CropleyWasGod's Avatar
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    Quote Originally Posted by Caversham Green View Post
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    Don't get me started on VAT tax points.


    Please?

    Anyway, isn't the idea of VAT on transfers a bit pointless? Villa will pay the VAT on SJM's transfer, Hibs will pay it to HMRC and Villa will claim it back - no gain to anyone. I think there's a case for them being outwith the scope....but that's probably for another epic thread.
    You're such a ****ing tease.

  15. #74
    @hibs.net private member Hibbyradge's Avatar
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    Quote Originally Posted by Caversham Green View Post
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    Don't get me started on VAT tax points.


    Please?

    Anyway, isn't the idea of VAT on transfers a bit pointless? Villa will pay the VAT on SJM's transfer, Hibs will pay it to HMRC and Villa will claim it back - no gain to anyone. I think there's a case for them being outwith the scope....but that's probably for another epic thread.
    This is awesome.
    Buy nothing online unless you check for free cashback here first. I've already earned 1,789.68!



  16. #75
    Quote Originally Posted by CropleyWasGod View Post
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    You're such a ****ing tease.
    Quote Originally Posted by Hibbyradge View Post
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    This is awesome.
    Nice to know I've still got it.

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