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  1. #1

    Hibs Annual Accounts

    £200k pre tax profit for last year.

    https://www.edinburghnews.scotsman.c...lack-1-4811243

  2. #2
    reigning hibs.net poker champion Wembley67's Avatar
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    Now that is good reading...to infinity and beyond hibees 😀😀😀
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  3. #3
    Don't believe it. They yams have been telling me hibs are spending out with their means for a few seasons now. Why should we believe Hibs over those enlightened beings?

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  5. #5
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    What happens to the profit? Does it go into our reserves?

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    @hibs.net private member The Spaceman's Avatar
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    Brilliant reading - figures don't reflect the £3,000,000 we got for John McGinn or the purchases of Kamberi, Horgan and Mallan...assume there is therefore still a healthy slice to come next year onwards and upwards Hibs! Great time to be a Hibs fan, enjoy it.

  7. #7
    Coaching Staff Ozyhibby's Avatar
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    Quote Originally Posted by The Spaceman View Post
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    Brilliant reading - figures don't reflect the £3,000,000 we got for John McGinn or the purchases of Kamberi, Horgan and Mallan...assume there is therefore still a healthy slice to come next year onwards and upwards Hibs! Great time to be a Hibs fan, enjoy it.
    Next years turnover will be bigger due to european participation. Hopefully our profit will be about the same though.


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  8. #8
    @hibs.net private member CropleyWasGod's Avatar
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    Quote Originally Posted by The Spaceman View Post
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    Brilliant reading - figures don't reflect the £3,000,000 we got for John McGinn or the purchases of Kamberi, Horgan and Mallan...assume there is therefore still a healthy slice to come next year onwards and upwards Hibs! Great time to be a Hibs fan, enjoy it.
    That's the EEN's figure, not a direct quote.

  9. #9
    Quote Originally Posted by CropleyWasGod View Post
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    That's the EEN's figure, not a direct quote.
    Said the same in club statement

  10. #10
    @hibs.net private member CropleyWasGod's Avatar
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    Quote Originally Posted by SallyCinnamon View Post
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    Said the same in club statement
    Pretty sure it doesn't. It talks about "appropriate value".

    http://www.hibernianfc.co.uk/news/9287

    Although the Financial Statements reflect transactions up to 30 June 2018 he went on to mention Hibernian’s summer 2018 transfer activity – players in and players out.

    “Everyone who has played for the Club and has since left for pastures new deserves the gratitude of supporters. No one more so than John McGinn who left to join Aston Villa FC on the English transfer deadline day. John has made an impressive start at his new club. The transaction happened after the financial year end and benefits the 2018-19 accounts so there is no impact in the Financial Statements for the year ended 30 June 2018.

    “The departure of the player was not unexpected and the executive team is to be congratulated - not only for securing appropriate value for the player but also for the work done to achieve the summer signings which have seen a number of full international players join the Club.
    Last edited by CropleyWasGod; 08-10-2018 at 11:11 AM.

  11. #11
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    Quote Originally Posted by The Spaceman View Post
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    Brilliant reading - figures don't reflect the £3,000,000 we got for John McGinn or the purchases of Kamberi, Horgan and Mallan...assume there is therefore still a healthy slice to come next year onwards and upwards Hibs! Great time to be a Hibs fan, enjoy it.
    Where did you hear that we got 3M for Mcginn?

  12. #12
    @hibs.net private member CropleyWasGod's Avatar
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    Quote Originally Posted by gorgiegreens View Post
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    Where did you hear that we got 3M for Mcginn?
    It's in the EEN report. It's their figure.

  13. #13
    Quote Originally Posted by neil7908 View Post
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    What happens to the profit? Does it go into our reserves?
    As long as we break even, that is all the club should aim for. Profit should be spent to enhance the infrastructure. The wage bill %age is the most important stat and that is where clubs can run into bother. It needs to adjust in line with income. Gambling by overspending on wages to enhance income rarely comes off.
    Hibs board seem to be all about future generations. That is how it should be.

  14. #14
    @hibs.net private member CropleyWasGod's Avatar
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    Quote Originally Posted by neil7908 View Post
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    What happens to the profit? Does it go into our reserves?
    It pays whatever tax is due, and our loan from STF

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  15. #15
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    Quote Originally Posted by CropleyWasGod View Post
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    It pays whatever tax is due, and our loan from STF

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    How do we pay £500k to farmer out of £200k profits? According to a board director we pay farmer monthly.

  16. #16
    Quote Originally Posted by Dancehibs View Post
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    How do we pay £500k to farmer out of £200k profits? According to a board director we pay farmer monthly.
    Can’t be much left to pay now? Does anyone know when these payments cease?

  17. #17
    @hibs.net private member CropleyWasGod's Avatar
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    Quote Originally Posted by Juniper Greens View Post
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    Can’t be much left to pay now? Does anyone know when these payments cease?
    The original agreement was until 2025.

  18. #18
    @hibs.net private member CropleyWasGod's Avatar
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    Quote Originally Posted by Dancehibs View Post
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    How do we pay £500k to farmer out of £200k profits? According to a board director we pay farmer monthly.
    We do pay him monthly.

    The profit quoted is struck before tax, loan repayments and HSL income. Without any HSL money, we need to make a profit of 500k in order to pay STF

    The poster asked what happens to the profit. I'm trying to be as simple as I can with the answer.

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    Quote Originally Posted by CropleyWasGod View Post
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    We do pay him monthly.

    The profit quoted is struck before tax, loan repayments and HSL income. Without any HSL money, we need to make a profit of 500k in order to pay STF

    The poster asked what happens to the profit. I'm trying to be as simple as I can with the answer.

    Sent from my SM-A520F using Tapatalk
    Thanks, I was starting to despair at some of the bar room accountants on here.

  20. #20
    @hibs.net private member BSEJVT's Avatar
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    Quote Originally Posted by CropleyWasGod View Post
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    We do pay him monthly.

    The profit quoted is struck before tax, loan repayments and HSL income. Without any HSL money, we need to make a profit of 500k in order to pay STF

    The poster asked what happens to the profit. I'm trying to be as simple as I can with the answer.

    Sent from my SM-A520F using Tapatalk
    Made me think for a minute too though :-)

    It might be easier for some to understand that the profit is based solely on Income - Costs incurred in delivering that income

    Such things as STF repayment, HSL income and Tax on profits don't have any effect on profitability but are reflected in cash position of business

  21. #21
    @hibs.net private member TrinityHibs's Avatar
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    Quote Originally Posted by CropleyWasGod View Post
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    We do pay him monthly.

    The profit quoted is struck before tax, loan repayments and HSL income. Without any HSL money, we need to make a profit of 500k in order to pay STF

    The poster asked what happens to the profit. I'm trying to be as simple as I can with the answer.

    Sent from my SM-A520F using Tapatalk
    Does that mean that even with the HSL money we are actually £300K+ worse off than last year?

  22. #22
    Quote Originally Posted by CropleyWasGod View Post
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    We do pay him monthly.

    The profit quoted is struck before tax, loan repayments and HSL income. Without any HSL money, we need to make a profit of 500k in order to pay STF

    The poster asked what happens to the profit. I'm trying to be as simple as I can with the answer.

    Sent from my SM-A520F using Tapatalk
    I'm confused-a common fault-we don't need any profit to repay STF-it comes from revenue as it did in previous years when we made a loss.

  23. #23
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    Quote Originally Posted by Dancehibs View Post
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    How do we pay £500k to farmer out of £200k profits? According to a board director we pay farmer monthly.
    Cash flow and Profits are 2 different things. Farmer's payments are repayments of a loan, not an accounting expense. As long as our cash inflows are higher than our outflows by £500k the loan repayments are covered. We don't actually have to make an accounting profit to be able to repay the loan.

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    @hibs.net private member offshorehibby's Avatar
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  25. #25
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    Quote Originally Posted by CropleyWasGod View Post
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    It pays whatever tax is due, and our loan from STF

    Sent from my SM-A520F using Tapatalk
    Cheers

  26. #26
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    Quote Originally Posted by neil7908 View Post
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    What happens to the profit? Does it go into our reserves?
    LoL..... as an accountant... i appreciate that one! 🤣

  27. #27
    The difference in length - and ease of comprehension - between our reports and the caveat-laden ones that come from the pink side are quite striking.

  28. #28
    £200,000 spare for a famous five statue anyone.... 👀

  29. #29
    It's also worth bearing in mind that there are certain non-cash 'expenses' such as depreciation and amortisation. Probably the best rule of thumb approach is to look at the cash balance and net asset value to assess which direction the club is headed - both are up by a decent amount according to the article.

    In anticipation of comments about the cash balance, it's high because most of the season ticket money was already in, but it needs to be used for wages throughout the season. Add in the McGinn and Murray cash (assuming we got it all paid straight away) and we must have been sitting on a fair whack when the transfer window slammed shut, even allowing for transfers in. Maybe we'll see some of that being spent when the January window is flung open.

  30. #30
    Quote Originally Posted by GreenArmyyy! View Post
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    £200,000 spare for a famous five statue anyone.... 👀
    Nope it's in the 'fill in the corners' piggy bank.

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