Hibs Accounts - Year end June 2023

[Bakerman]

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75%

Thanks for that Cropley. Probably where a lot of clubs are. Glad we've got ours down to a more manageable ratio though.

[Nicho87]

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Hmm, I'm struggling to find a positive spin on this.

Maybe someone else can.

If ben Kensell forgets his bag for life in Waitrose he’s no bothered

[Stairway 2 7]

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75%

Do donations by FOI or Anderson count as income, I know you said they are taxable if they didn't have losses previously that is

[CropleyWasGod]

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Do donations by FOI or Anderson count as income, I know you said they are taxable if they didn't have losses previously that is

They do, although they are shown separately from turnover.

Their turnover of £20m is all trading, and the donations are added to that.

A small point on that, which probably won't help the general mood on here. Without the donations, Hearts loss would be about £6m. Double ours.

Just saying

[Stairway 2 7]

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They do, although they are shown separately from turnover.

Their turnover of £20m is all trading, and the donations are added to that.

A small point on that, which probably won't help the general mood on here. Without the donations, Hearts loss would be about £6m. Double ours.

Just saying

Thanks, shame they will get group stage football again which I think is included.

[CropleyWasGod]

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Thanks, shame they will get group stage football again which I think is included.

Given that they barely broke-even in their last Group-stage adventure, this year's results aren't going to be pretty.

[tamig]

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It’s lucky for Kensell that his tan will hide his red face at the AGM.

How many dud signings, hiring and firing crap managers, and the invisible development team have contributed to that loss?

Maybe we can get an audit on that?

🥱🥱🥱

[7Hero]

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They do, although they are shown separately from turnover.

Their turnover of £20m is all trading, and the donations are added to that.

A small point on that, which probably won't help the general mood on here. Without the donations, Hearts loss would be about £6m. Double ours.

Just saying

hearts have a turnover of £20m before any donations ?

[CropleyWasGod]

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hearts have a turnover of £20m before any donations ?

They had that, in the year they made the EL group stages. It won't be that this season.

It wouldn't surprise me if theirs was about £15m this season, which is what BK said ours will be.

[Is It On....]

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£326,818 pay and £25000 pension for Ben Kensall over the year

The legal minimum is actually a 10% employer contribution of basic salary so his basic must be £250k.

[hibee-boys]

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The legal minimum is actually a 10% employer contribution of basic salary so his basic must be £250k.

3% is the minimum employer contribution into a workplace pension scheme.

[WhileTheChief..]

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The legal minimum is actually a 10% employer contribution of basic salary so his basic must be £250k.

10%???

That might also include his own contributions and tax relief, but there's no legal requirement for an employer to contribute 10%. Hardly any of us will be lucky enough to have an employer contributing that much!

3% is all an employer has to contribute.

[mixumatosis]

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They had that, in the year they made the EL group stages. It won't be that this season.

It wouldn't surprise me if theirs was about £15m this season, which is what BK said ours will be.

All that sweet, sweet GHD rental income from the hotel tho ? That's going to be the difference for years to come.

[TrinityHFC]

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This touches on a point which comes up for me every year.

These accounts are for a period starting 18 months ago. They were ready in October. Why couldn't we see them then, and avoid everyone losing their **** when they're already months out of date? (I know the reason, btw, but it doesn't negate the point of the question)

I'd prefer to focus on what's happening business-wise just now, which is why the AGM notes that have been published are IMO far more newsworthy and relevant than the accounts.

Agree.

Although this year I suppose they were aligning the AGM, when we'd normally receive and approve the accounts, with the resolutions needed for the investment. Also allows for the context of the DfE rather than just reporting losses and debt.

[Is It On....]

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3% is the minimum employer contribution into a workplace pension scheme.

The legal minimum is 8% for employee + employer [recommended minimum is 10%]. I would stunned if we were paying our chief exec the 3% minimum employer contribution.

[Hibee Mac]

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The legal minimum is 8% for employee + employer [recommended minimum is 10%]. I would stunned if we were paying our chief exec the 3% minimum employer contribution.

When he's getting paid that much I don't think any % of pension contributions are relevant, he's basically being paid a massive pension contribution as his main salary.

Different for your average Joe obviously

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[.Sean.]

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His main KPI, 'bridges walked under while holding a beer' is showing a 100% increase. 'Interactions with a faux ultras mob' also high this quarter.

�� He should maybe get a shot of a balaclava from one of his wee saddo Block 7 pals for the agm, sounds like he might need one

[Ozyhibby]

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That’s a bit of a fallacy
Our turnover in 2018-19 was £10.8m
Turnover in the latest account is £12.4m
That’s an increase of just over 14%, not earth shattering

And how much have costs increased? Anyone can increase revenue if you are spending massively to build the business. The trick is to spend less than you bring in. We are not doing that.


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[TrinityHFC]

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And how much have costs increased? Anyone can increase revenue if you are spending massively to build the business. The trick is to spend less than you bring in. We are not doing that.


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You can’t spend less than you bring in when you’re making the capital investments in those things in the first place.

We need to see future accounts when we are spending the money on valuable projects but we are seeing the income from the facilities to know the benefits.

[superfurryhibby]

I

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You can’t spend less than you bring in when you’re making the capital investments in those things in the first place.

We need to see future accounts when we are spending the money on valuable projects but we are seeing the income from the facilities to know the benefits.

What income from the facilities are we seeing and what benefits are we knowing?

The Gordon regime has failed to deliver benefit to the football team, that's a deficit we all know and we also know that there’s no sign that they know to fix that.

[TrinityHFC]

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What income from the facilities are we seeing and what benefits are we knowing?

The Gordon regime has failed to deliver benefit to the football team, that's a deficit we all know and there’s we also know that there’s no sign that they know to fix that.

Not sure it should really need to be explained but these accounts are a position in the middle of last year. We had paid money out on projects like the screens, LED advertising, hospitality and the pitch.

What the accounts don’t capture are the long term income streams you get from the advertising and hospitality. We’ve speculated to some extent on players too.

We’ve noted that we are expecting record income and that costs are also down now that we aren’t paying on capital projects.

Agree on the team. They’ve backed managers though and everything they are doing is to try and create more money for the team in future.

[hibee-boys]

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The legal minimum is 8% for employee + employer [recommended minimum is 10%]. I would stunned if we were paying our chief exec the 3% minimum employer contribution.

I wasn’t suggesting we were paying him the minimum 3%, just pointing out that it is the minimum employer contribution.

[Danderhall Hibs]

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The legal minimum is 8% for employee + employer [recommended minimum is 10%]. I would stunned if we were paying our chief exec the 3% minimum employer contribution.

Depends on the type of scheme, if it’s an auto enrolment scheme it’s minimum 3% employer with 5% employee. The numbers quoted suggest about a 7-8% contribution.

[CropleyWasGod]

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Depends on the type of scheme, if it’s an auto enrolment scheme it’s minimum 3% employer with 5% employee. The numbers quoted suggest about a 7-8% contribution.

If it helps. the number in the accounts is the Employer's share only.

[scm70nyd1973]

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I don't think they do. IIRC they stopped allowing shareholders transferring their shares to others shortly after the takeover. I think the suggestion was so to stop folk transferring their individual shareholding over to HSL. Presumably there was exceptions, e.g. when shareholders died.

https://www.hibs.net/showthread.php?...e-shares/page1

I’ve just transferred half of my shares over to my daughter- share cert arrived 2 weeks ago.

[LaMotta]

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I’ve just transferred half of my shares over to my daughter- share cert arrived 2 weeks ago.

Who did you contact at the club to sort that out for you? I have an issue I'm looking for advice on how to sort....

[WhileTheChief..]

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If it helps. the number in the accounts is the Employer's share only.

Salary sacrifice

[Danderhall Hibs]

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Salary sacrifice

👍🏼 that shows as an Employer contribution.