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dangermouse
10-09-2013, 07:38 AM
Evening News Sport ‏@edinburghsport

Hibees: We have an in-depth interview with Rod Petrie today. Vital reading for you. Don't miss it

jonty
10-09-2013, 08:13 AM
http://www.hibernianfc.co.uk/news/20130909/club-publishes-financial-statement_2262950_3452889

Part/Time Supporter
10-09-2013, 08:15 AM
"Iron rod"?

I'm more an inanimate carbon fan.

:agree:

10938

Gatecrasher
10-09-2013, 08:16 AM
some good news in there :agree:

Peevemor
10-09-2013, 08:19 AM
http://www.hibernianfc.co.uk/news/20130909/club-publishes-financial-statement_2262950_3452889


But, but ....we're cheats! We're paying wages we can't afford. We can't have made a profit. :confused:

blackpoolhibs
10-09-2013, 08:20 AM
If i was a porn star, that would be the name i'd pick.

Billy Whizz
10-09-2013, 08:20 AM
Evening News Sport ‏@edinburghsport

Hibees: We have an in-depth interview with Rod Petrie today. Vital reading for you. Don't miss it

He must have some good news

Heisenberg
10-09-2013, 08:21 AM
This news surprises me. I'd already started the baking for when our inevitable downfall started to happen. Surely those pesky Hearts fans couldn't have been talking rubbish?

Ozyhibby
10-09-2013, 08:25 AM
He must have some good news

Good financials just released

Phil D. Rolls
10-09-2013, 08:29 AM
5-1, Big Team, Debt Free 2014, it was all worth it.

spike220
10-09-2013, 08:30 AM
He must have some good newsHibs make a profit! Hibs reduce debt by almost 1m!! I am afraid to say but the == guy has done a outrageously good job with our club in the current climate! Not only that, we have a very squad and are if they can gel we are on our way ladies and gentlemen. The bed wetters will be disappointed almost as much as the Jambos by this news. Good on you Rod!!!

Ozyhibby
10-09-2013, 08:31 AM
Great news. We just need to find a way of making the massive advantage we have over every club in the league bar Celtic count.

Pedantic_Hibee
10-09-2013, 08:33 AM
All quiet on JKB. They flumps really are a class apart when it comes to making an erse of themselves.

We're the only football club on earth that cheats by paying every single bill as they fall due.

Now I'm gonna have to eat all these fairy cakes by myself.

blackpoolhibs
10-09-2013, 08:33 AM
Hibs make a profit! Hibs reduce debt by almost 1m!! I am afraid to say but the == guy has done a outrageously good job with our club in the current climate! Not only that, we have a very squad and are if they can gel we are on our way ladies and gentlemen. The bed wetters will be disappointed almost as much as the Jambos by this news. Good on you Rod!!!

What a ridiculous post, what is the main aim of Hibernian football club? There's a clue in the bold lettering. :rolleyes:

jonty
10-09-2013, 08:36 AM
What a ridiculous post, what is the main aim of Hibernian football club? There's a clue in the bold lettering. :rolleyes:
Hibernian Football Club Limited
:wink:

Andy74
10-09-2013, 08:36 AM
If i was a porn star, that would be the name i'd pick.

If you were a porn star, my days of watching porn would be over.

Ozyhibby
10-09-2013, 08:37 AM
All quiet on JKB. They flumps really are a class apart when it comes to making an erse of themselves.

We're the only football club on earth that cheats by paying every single bill as they fall due.

Now I'm gonna have to eat all these fairy cakes by myself.

It will be quiet for a while. Posting good news about us can get you barred over there. They will have to wait till one of the main men posts it.
Even then, they will be looking to put a negative spin on it.

Ozyhibby
10-09-2013, 08:38 AM
If you were a porn star, my days of watching porn would be over.

I stopped when Rangers went bust. If Hearts go the same way I doubt I'll ever need it again.

Andy74
10-09-2013, 08:39 AM
I don't think now is the time to be making profit. I'm all for stability etc but sounds as though a wee bit more could have gone to the team at this time?

Pretty Boy
10-09-2013, 08:39 AM
So we're not doomed to follow Hearts into admin after all?

I'd been assured by some yams it was all but a certainty.

Tick tock indeed.

NadeAteMyLunch!
10-09-2013, 08:39 AM
If there are a collective set of football supporters with less brain cells than our neighbours then they keep themselves very well hidden. They wouldn't understand finances if someone smacked them in the face with a copy of 'The idiots guide to finance'.

lyonhibs
10-09-2013, 08:42 AM
Excellent. Improved financials.

Let's whap that in the trophy cabinet/memory bank, shall we??

It is great news that The Tache is running us excellently from a purely financial numbers point of view, but if this turgid style of football - despite the playing side investment (which leads one's finger to point at Fenlon's ability to organise and inspire) - and pish results continue, then attendance numbers will fall, spending in the - poorly stocked by most accounts - shop will fall etc etc etc.

His definition of "the bottom line" and a football fan's definition of "the bottom line" (even a realistic definition) are - currently - too far apart IMO.

matty_f
10-09-2013, 08:43 AM
I don't think now is the time to be making profit. I'm all for stability etc but sounds as though a wee bit more could have gone to the team at this time?

I think it's on the back of setting budgets for worst case scenario of repeating the previous year's performance and subsequent low turnover. The increased revenue brought the wages/turnover ratio right down but if we'd gone out the cup earlier or finished even a couple of places lower those figures would have looked very different. After 2 years of losses I can totally understand the need to be cautious.

Peevemor
10-09-2013, 08:45 AM
I don't think now is the time to be making profit. I'm all for stability etc but sounds as though a wee bit more could have gone to the team at this time?

If it hadn't been for the cup final, we would have made a loss. At face value the board went as far as they could when setting the budgets at the start of the season (and during the January transfer window). However we'll have to wait for the detailed accounts to see what money has been used to reduce the debt - ie. a block of funds or just regular transactions.

jonty
10-09-2013, 08:46 AM
I don't think now is the time to be making profit. I'm all for stability etc but sounds as though a wee bit more could have gone to the team at this time?
Assuming 20 squad players get paid for 52 weeks a year, that's a whopping £96.15 extra a week. Are we turning into Tesco 'every little helps'? You cant honestly tell me Bale turned us down because the Tache wouldn't up his weekly salary to £300,096.15

Peevemor
10-09-2013, 08:46 AM
I think it's on the back of setting budgets for worst case scenario of repeating the previous year's performance and subsequent low turnover. The increased revenue brought the wages/turnover ratio right down but if we'd gone out the cup earlier or finished even a couple of places lower those figures would have looked very different. After 2 years of losses I can totally understand the need to be cautious.

Snap! (almost). :greengrin

Mon Dieu4
10-09-2013, 08:47 AM
I dont believe a word of it, the 1st of October is a Tuesday!!! i blame Rod

jonty
10-09-2013, 08:48 AM
I dont believe a word of it, the 1st of October is a Tuesday!!! i blame Rod
Best time to sack the manager - poor result at the weekend, sacked on Monday, announced on Tuesday :agree: :greengrin

IWasThere2016
10-09-2013, 08:51 AM
Good results :agree: Could also explain why we still have PF as this shows the value of a successive SCF .. RP must be hoping for a third visit to Hampden via CIS or SC

Pedantic_Hibee
10-09-2013, 08:52 AM
We can criticise the board for their appointment of successive managers, but credit to them for a) running the club excellently and b) they've given Fenlon and those before him every opportunity too with financial backing.

GreenArmyyy!
10-09-2013, 08:52 AM
I don't think now is the time to be making profit. I'm all for stability etc but sounds as though a wee bit more could have gone to the team at this time?

Just curious, don't you think Fenlon was backed more than enough in terms of signings this summer?

Hibee87
10-09-2013, 08:55 AM
This makes perfect sense, I seen rod on sat afternoon in the boots at kinnard park....he was buying a bunch of toiletries by the looks of it (shaving foam etc) and it was all the dear stuff he was picking up...I said to the missus, rod must have had a wee windfall getting all the dear ****........he never had to steal the wee kids sausage roll though

Keith_M
10-09-2013, 08:56 AM
Could one of our financial whizzkids put this in simple terms for all the Hearts supporters reading this thread.


"Net debt fell by £0.9m from £6.4m to £5.5m as a result of positive cash flow in the year and the scheduled repayment of bank loans."


I'm sure these are difficult concepts and a lot of them might not have heard of some of that before, like repaying bank loans and debt levels decreasing without dodgy 'debt-forgiveness' schemes involving banks in the Cayman Islands and Bosnian Pension Funds.

blackpoolhibs
10-09-2013, 08:58 AM
If you were a porn star, my days of watching porn would be over.

:faf:

fatbloke
10-09-2013, 08:59 AM
Shoorly shome mishtake Missh Moneypenny:greengrin

Andy74
10-09-2013, 09:00 AM
Just curious, don't you think Fenlon was backed more than enough in terms of signings this summer?

Sort of. I'd have tried a bit more for another creative player at least.

I love the prudence as much as the next man but Im not sure why we need to reduce debt too much just now and just a little bit of that might have been able to make that wee bit difference to the team.

number9dream
10-09-2013, 09:01 AM
Figures underline how important a decent league finish is - never mind the extra bums on seats for a winning team.
Wage/turnover ratio may have been bumped up over the summer, with wee Pat bringing in so many new players.
But the club is in good nick despite all of these fallow years on the park - we really need to "kick on", to borrow a phrase from PF.

Peevemor
10-09-2013, 09:04 AM
Sort of. I'd have tried a bit more for another creative player at least.

I love the prudence as much as the next man but Im not sure why we need to reduce debt too much just now and just a little bit of that might have been able to make that wee bit difference to the team.

The reduction in debt wasn't programmed - it was basically luck. We'll get an idea of how far they've gone over the summer this time next year.

GreenArmyyy!
10-09-2013, 09:06 AM
Sort of. I'd have tried a bit more for another creative player at least.

I love the prudence as much as the next man but Im not sure why we need to reduce debt too much just now and just a little bit of that might have been able to make that wee bit difference to the team.

I understand where you are coming from and I too think we needed another creative player but I think it is probably more to do with Fenlon using his allocated budget in areas that didn't need it as much rather than the backing from Petrie and co IMO.

Keith_M
10-09-2013, 09:08 AM
Sort of. I'd have tried a bit more for another creative player at least.

I love the prudence as much as the next man but Im not sure why we need to reduce debt too much just now and just a little bit of that might have been able to make that wee bit difference to the team.


Maybe they did identify players but just had trouble getting them to sign on wages we could afford.

:dunno:

There's a big difference between upping your offer by 10-20% more than you feel comfortable with.. and going down the Hearts route of wages you can't afford.

I'm not saying that DID happen, it's just that we really don't know. Hopefully Heffernan and Zabir can make a difference.

blackpoolhibs
10-09-2013, 09:10 AM
Hibernian Football Club Limited
:wink:

Exactly, some folk actually do believe thats the main object of the club. We used to joke at how we could parade the books down easter road on an open top bus, and while this news is great and welcome, i'm not about to jizz my pants over it while the team is as bad and the football is the worst i have seen since Bertie Auld was in charge.

This news today will now become a tool to hit us with when another bad result happens, well as long as we are showing a profit eh?

Pedantic_Hibee
10-09-2013, 09:12 AM
Exactly, some folk actually do believe thats the main object of the club. We used to joke at how we could parade the books down easter road on an open top bus, and while this news is great and welcome, i'm not about to jizz my pants over it while the team is as bad and the football is the worst i have seen since Bertie Auld was in charge.

This news today will now become a tool to hit us with when another bad result happens, well as long as we are showing a profit eh?

G, have a Snickers......

Treadstone
10-09-2013, 09:12 AM
I dont believe a word of it, the 1st of October is a Tuesday!!! i blame Rod

Hibernian FC ‏@HibernianFCClub (https://twitter.com/HibernianFCClub)23m (https://twitter.com/HibernianFCClub/status/377352479593086976)
CORRECTION: The Annual General Meeting for shareholders will be held at Easter Road Stadium at 7pm on Tuesday 1 October 2013.

Gus Fring
10-09-2013, 09:12 AM
I'm flabbergasted that they're are still people who think Rod isn't doing everything he can. He's clearly run the club in a fashion that's kept us profitable but not overly so. Had we have beaten Celtic in May then we would have done so whilst still making a profit and servicing debt which is incredibly important. After watching what happened to Rangers and Hearts I can't believe people still want the club to be run as a loss-making endeavour.

Make no mistake, the problems at Hibs just now are not financial and can't be solved with the money available to us.

DanHFC1875
10-09-2013, 09:17 AM
Good results :agree: Could also explain why we still have PF as this shows the value of a successive SCF .. RP must be hoping for a third visit to Hampden via CIS or SC

We're dooomed I tell ya DOOOOOMMED!! :na na:

Would be nice to get to 2 cup finals and win them both this season though... :partyhibb

Ozyhibby
10-09-2013, 09:21 AM
I'm flabbergasted that they're are still people who think Rod isn't doing everything he can. He's clearly run the club in a fashion that's kept us profitable but not overly so. Had we have beaten Celtic in May then we would have done so whilst still making a profit and servicing debt which is incredibly important. After watching what happened to Rangers and Hearts I can't believe people still want the club to be run as a loss-making endeavour.

Make no mistake, the problems at Hibs just now are not financial and can't be solved with the money available to us.

Exactly. It's not a lack of money that is making us crap, it's poor football management.
Our budget is higher than our competitors except Celtic (possibly Aberdeen, although they will not be able to sustain it).

Pedantic_Hibee
10-09-2013, 09:25 AM
More importantly, did we steal from any charities or a poppy fund etc?

Crossgates Hibs
10-09-2013, 09:25 AM
Exactly, some folk actually do believe thats the main object of the club. We used to joke at how we could parade the books down easter road on an open top bus, and while this news is great and welcome, i'm not about to jizz my pants over it while the team is as bad and the football is the worst i have seen since Bertie Auld was in charge.

This news today will now become a tool to hit us with when another bad result happens, well as long as we are showing a profit eh?


Agree totally and I wouldn't be in favour of throwing more money at PF till he can give us attractive winning football or even just winning football. We are in a position to be able to cherry pick other teams and should use this just as the old firm have done for years. If we are not top four this year showing a healthy profit then the season is a failure. I do believe we have gone the correct way in infrastructure first team second and now we should be rewarded for our patience but at the same time improving our finances when possible with player sales or increased prize money.

Peevemor
10-09-2013, 09:26 AM
As posted on brokeback


He took it up too 31st July thus allowing the revenue from Malmo Home game and season Ticket Sales for this year too be included, very easy to put an extra dent in their financial affairs...

They really are thick aren't they?

Peevemor
10-09-2013, 09:29 AM
... to which one of them replied


exactly my point after all that they have made what 100k profit???? nothing to be proud of is it i mean if we got to 2 semi and 2 cup finals and in Europe for what about 30 mins i think we would have made more than 0.01m profit so tache if you little manky club post a profit next year and thats a big if then ill say fair play

Eh no - you would have made a loss of between £5m and £10m as per usual over the past few years.

SMAXXA
10-09-2013, 09:29 AM
St Johnstone made a loss of almost £200,000 last season, despite it being one of the Perth club's most successful campaigns.

From the BEEB

Beefster
10-09-2013, 09:31 AM
Hibs make a profit! Hibs reduce debt by almost 1m!! I am afraid to say but the == guy has done a outrageously good job with our club in the current climate! Not only that, we have a very squad and are if they can gel we are on our way ladies and gentlemen. The bed wetters will be disappointed almost as much as the Jambos by this news. Good on you Rod!!!

Yeah, everyone who thinks Fenlon is out of his depth has seen their argument comprehensively trashed by us making a profit...

Anyway, it's nicely done by Rodders. Now, if only he'd appoint a CEO to run the club within the required financials and a competent football manager, we'd be rocking and rolling.

P.S. If your exclamation point count ends up greater than your sentence count, something has gone horribly wrong.

jakeshibs
10-09-2013, 09:34 AM
We can criticise the board for their appointment of successive managers, but credit to them for a) running the club excellently and b) they've given Fenlon and those before him every opportunity too with financial backing.

well said and totally agree:agree:

southsider
10-09-2013, 09:35 AM
Each man to his own trade is a saying that is apt here. Rod should stick to the bean counting and appoint a new D Of F who will run the football side of things, appoint a new head coach, go scout new players and do contracts and the like. Head coach does what it says on the tin : coaches the players and gets them ready for matchdays. Heard a Mr Dalglish looking to get back into football but perhaps wants to stay in England, but that type of guy would be ideal.

blackpoolhibs
10-09-2013, 09:36 AM
We can criticise the board for their appointment of successive managers, but credit to them for a) running the club excellently and b) they've given Fenlon and those before him every opportunity too with financial backing.

Something i have said on numerous occasions. :agree:

Gus Fring
10-09-2013, 09:40 AM
He took it up too 31st July thus allowing the revenue from Malmo Home game and season Ticket Sales for this year too be included, very easy to put an extra dent in their financial affairs...

The financial year started on 1st of August 2012 and ended on the 31st of July. That's one year. Idiot.


i mean if we got to 2 semi and 2 cup finals and in Europe for what about 30 mins i think we would have made more than 0.01m profit

In the last year we only reached 1 semi and 1 cup final. Where is this 2 rubbish coming from?

Also, does this particular idiot realise that their last set of results includes a semi final, a final and europe but still doesn't show a profit? Sort of disproving his own theory there. Muppet

Ozyhibby
10-09-2013, 09:41 AM
Each man to his own trade is a saying that is apt here. Rod should stick to the bean counting and appoint a new D Of F who will run the football side of things, appoint a new head coach, go scout new players and do contracts and the like. Head coach does what it says on the tin : coaches the players and gets them ready for matchdays. Heard a Mr Dalglish looking to get back into football but perhaps wants to stay in England, but that type of guy would be ideal.

Because he was such a success as DoF at Celtic? Or his amazing stint as DoF at Newcastle?

jonty
10-09-2013, 09:41 AM
Exactly, some folk actually do believe thats the main object of the club. We used to joke at how we could parade the books down easter road on an open top bus, and while this news is great and welcome, i'm not about to jizz my pants over it while the team is as bad and the football is the worst i have seen since Bertie Auld was in charge.

This news today will now become a tool to hit us with when another bad result happens, well as long as we are showing a profit eh?
Absolutely - we need to run a successful business off the park as well as on it.

If we fail off the park, we're screwed (see Huns/Diet Huns)
If we fail on the park at least we live to fight another day.

I agree its not pretty at the moment but i'd rather be in our position than some others. Better the devil you know etc etc.



We're dooomed I tell ya DOOOOOMMED!! :na na:

Would be like to get to 2 cup finals and win them both this season though... :partyhibb
I honestly think PF cup runs are the only thing keeping him in a job just now.


Yeah, everyone who thinks Fenlon is out of his depth has seen their argument comprehensively trashed by us making a profit...

Anyway, it's nicely done by Rodders. Now, if only he'd appoint a CEO to run the club within the required financials and a competent football manager, we'd be rocking and rolling.

P.S. If your exclamation point count ends up greater than your sentence count, something has gone horribly wrong.
:agree:

SlickShoes
10-09-2013, 09:47 AM
Hibs make a profit! Hibs reduce debt by almost 1m!! I am afraid to say but the == guy has done a outrageously good job with our club in the current climate! Not only that, we have a very squad and are if they can gel we are on our way ladies and gentlemen. The bed wetters will be disappointed almost as much as the Jambos by this news. Good on you Rod!!!

Away ye go.

Bed wetting is referring to folk with knee jerk reactions, we have been pish for years, literally YEARS I don't see how this is bed wetting.

Pedantic_Hibee
10-09-2013, 09:48 AM
A Yam Fud writes;

This reminds of a few seasons ago when we suddenly announced a profit, it was nice at the time but knew the figures had been massaged. I dont for one second believe that Hibs have a wages to turnover of 49%.

----------------------------

What part of audited accounts is he not quite getting? I despair sometimes, I really. Their straw-clutching over there is hilarious.

Gus Fring
10-09-2013, 09:54 AM
A Yam Fud writes;

This reminds of a few seasons ago when we suddenly announced a profit, it was nice at the time but knew the figures had been massaged. I dont for one second believe that Hibs have a wages to turnover of 49%.

Does this flump actually believe our players are being paid more money? I'm shocked we pay as much as 49%. That's too high for this team :na na:

Thecat23
10-09-2013, 10:01 AM
We can criticise the board for their appointment of successive managers, but credit to them for a) running the club excellently and b) they've given Fenlon and those before him every opportunity too with financial backing.

Much as I want Rod out and new faces in, the board still should be praised for this. So it's well done from me.

spike220
10-09-2013, 10:01 AM
Yeah, everyone who thinks Fenlon is out of his depth has seen their argument comprehensively trashed by us making a profit...

Anyway, it's nicely done by Rodders. Now, if only he'd appoint a CEO to run the club within the required financials and a competent football manager, we'd be rocking and rolling.

P.S. If your exclamation point count ends up greater than your sentence count, something has gone horribly wrong. Who was talking about Fenlon - Not me, this is Rods thread!!!!

Part/Time Supporter
10-09-2013, 10:02 AM
A Yam Fud writes;

This reminds of a few seasons ago when we suddenly announced a profit, it was nice at the time but knew the figures had been massaged. I dont for one second believe that Hibs have a wages to turnover of 49%.

----------------------------

What part of audited accounts is he not quite getting? I despair sometimes, I really. Their straw-clutching over there is hilarious.

For hard of thinking Yams: Hibs wage bill was about the same in 2012/13 as it was in 2011/12. The ratio went down because turnover went up from £7.1M to £8M. That was mainly due to finishing four places higher in the league (worth about £300K) and home attendances being higher. The cup run didn't make a difference in this respect because (as they may have noticed) Hibs had a cup run in the previous year as well.

Hibs player wage bill has pretty much stayed at the same level for about the last 5 years. It was a bit lower during the period Mowbray was manager because the player pool was younger (ergo cheaper). Most of them were then sold and replaced with older players. More expensive, but not better. The variation in profit or loss during that period has been mostly due to performance on the park.

JeMeSouviens
10-09-2013, 10:04 AM
For hard of thinking Yams: Hibs wage bill was about the same in 2012/13 as it was in 2011/12. The ratio went down because turnover went up from £7.1M to £8M. That was mainly due to finishing four places higher in the league (worth about £300K) and home attendances being higher. The cup run didn't make a difference in this respect because (as they may have noticed) Hibs had a cup run in the previous year as well.

Hibs wage bill has pretty much stayed at the £4M level for about the last 5 years. It was a bit lower during the period Mowbray was manager because the player pool was younger (ergo cheaper). Most of them were then sold and replaced with older players. More expensive, but not better.

It did a bit: home games with biggish crowds against Yams and Sheep plus on the telly in every round.

blackpoolhibs
10-09-2013, 10:06 AM
Who was talking about Fenlon - Not me, this is Rods thread!!!!

Well if this is only a Rod thread, and he's rightly being praised for the accounts. Is it fair to criticise the football part of his remit, you know the reason we ALL go along to easter road?

6 YEARS OF PISH AND COUNTING. :rolleyes:

MB62
10-09-2013, 10:07 AM
So we returned a profit and reduced our debt by nearly £1m! Brilliant that is eh! what exactly am I expected to do with my green cardigan and raffle ticket books now?

FFS Petrie, get it sorted :grr:

spike220
10-09-2013, 10:07 AM
Away ye go.

Bed wetting is referring to folk with knee jerk reactions, we have been pish for years, literally YEARS I don't see how this is bed wetting. No bed wetting is for people who wet the bed, hence the term 'bed wetting' the clue is in the words used. :greengrin

spike220
10-09-2013, 10:09 AM
Well if this is only a Rod thread, and he's rightly being praised for the accounts. Is it fair to criticise the football part of his remit, you know the reason we ALL go along to easter road?

6 YEARS OF PISH AND COUNTING. :rolleyes: Are you available as a motivational speaker...........thought not!:na na:

blackpoolhibs
10-09-2013, 10:11 AM
Are you available as a motivational speaker...........thought not!:na na:

Well done.

The Sea-gull
10-09-2013, 10:17 AM
I know sweet FA about financial matters but any profit made by a Scottish football team has got to be recognised as a decent effort, unless we are talking hundreds of thousands then questions should be asked about why more was not spent on the team!

Much as they have been criticised for their managerial appointments (and rightly so) there is no doubting Rod and the board have ran the club well financially if a little too prudently at times though it should be recognised we are still a fair few million in debt.

Pedantic_Hibee
10-09-2013, 10:20 AM
I'm still absolutely furious at being lied to by Hearts fans. In fact, I'm that angry at how much time that I've wasted baking a cake to raise funds that I've taken the appropriate action by smashing it in my own face. Serves me right for being so gullible.

http://pad2.whstatic.com/images/thumb/1/13/09-September_qwest_pie_throwing_0110.jpg/251px-09-September_qwest_pie_throwing_0110.jpg

Pedantic_Hibee
10-09-2013, 10:23 AM
If we were in danger of posting a loss for the financial year just passed, would we lose our moral compass and steal from charities to limit the damage?

What's your thoughts, onlooking Jambos?

They're continung to make monumental James Blunts of themselves over on JKB. Their revisionism is a thing of beauty. Only a week or so ago they were telling all their fellow mutants that we'd be posting record losses etc. More so, in regards to the profits they posted a couple of years back, they now admit that they knew it had been "massaged" all along.........if that's the case then why were there threads about it "getting it right up" us?

Fuds. :aok:

Boyle89
10-09-2013, 10:23 AM
I looked on kb, I couldn't help myself. This is a peach..

Obsessing over finances is very hibs.

Very cringey stuff.
Hahahahahaha! Just superb.

Mikey
10-09-2013, 10:25 AM
I don't think now is the time to be making profit. I'm all for stability etc but sounds as though a wee bit more could have gone to the team at this time?

Nah. Alarm bells would rightly have been ringing if we had made another loss. To make a small profit and clear nearly £1m off the debt is pretty good going.

I've said before that PF is doing just about everything right at Hibs, with the exception of the most important 90 minutes of the week. His successor will inherit an excellent legacy.

Pedantic_Hibee
10-09-2013, 10:28 AM
Nah. Alarm bells would rightly have been ringing if we had made another loss. To make a small profit and clear nearly £1m off the debt is pretty good going.

I've said before that PF is doing just about everything right at Hibs, with the exception of the most important 90 minutes of the week. His successor will inherit an excellent legacy.


"Fenners.......... http://31.media.tumblr.com/80f53298ff6c9835a18b4f49fbee90c4/tumblr_mpdn4zmV3I1qe78h0o1_500.jpg"

Hibbyradge
10-09-2013, 10:28 AM
How can we have made a profit of only £100k if we've reduced debt by nearly £1m? :confused:

Pedantic_Hibee
10-09-2013, 10:29 AM
How can we have made a profit of only £100k if we've reduced debt by nearly £1m? :confused:

I suspect there were mortgage payments or loan payments made within the last year?

Then again, what do I know, I'm sat in Hello Kitty y-fronts and staring at a courgette.

GreenArmyyy!
10-09-2013, 10:30 AM
Hibernian FC ‏@HibernianFCClub (https://twitter.com/HibernianFCClub)23m (https://twitter.com/HibernianFCClub/status/377352479593086976)
CORRECTION: The Annual General Meeting for shareholders will be held at Easter Road Stadium at 7pm on Tuesday 1 October 2013.

Is it possible to buy shares in order to attend?

The Sea-gull
10-09-2013, 10:30 AM
Hibs make a profit! Hibs reduce debt by almost 1m!! I am afraid to say but the == guy has done a outrageously good job with our club in the current climate! Not only that, we have a very squad and are if they can gel we are on our way ladies and gentlemen. The bed wetters will be disappointed almost as much as the Jambos by this news. Good on you Rod!!!

Bed wetters seems to be a term that happy clappers/fenlon lovers/Petrie-ites use for people who have a problem with the way the FOOTBALLING side of OUR club has been run. If that is how people who feel that way are to be categorised then I guess there are more folk with wet than dry matresses just now.

The suggestion that "bed wetters" will be unhappy that their club has made a profit is just rubbish.

andrew70
10-09-2013, 10:32 AM
St Johnstone made a loss of almost £200,000 last season, despite it being one of the Perth club's most successful campaigns.

From the BEEB

They also finished higher up the league than us and played consistently better, I would sacrifice a £200k loss for that IMO.

I am not knocking the job that the board have done though, far from it. Above all Pat has been backed in terms of personnel whilst also maintaining the stability of the club. I would, though, like to see our 'better' squad push on now and be used in a way that wins games. The balance sheet would look even better alongside a third place, at least, finish.

Craig_in_Prague
10-09-2013, 10:32 AM
Even IF we had a trading loss, the thicko yams don't understand what cash flow is & meeting payments as they are due.
a trading loss in 1 accounting year does not mean cheating ya baloons. Away bake more cakes, you'll need it for your newco playing at Saughton park.

Part/Time Supporter
10-09-2013, 10:33 AM
It did a bit: home games with biggish crowds against Yams and Sheep plus on the telly in every round.

Those are marginal differences really, given that almost half of that income would have gone to the opponents.

There were also factors in 2011/12 that were better than 2012/13. Hibs went through a couple of rounds in the LC in 2011/12 (and had a televised game against Celtic), whereas they were beaten in the first match in 2012/13. Hibs had three home games against the OF in 2011/12 (four including the LC tie) and one in 2012/13.

The biggest differences in turnover between the two seasons (as the Hibs statement says) are the league position and attendance.

jacomo
10-09-2013, 10:37 AM
I don't think now is the time to be making profit. I'm all for stability etc but sounds as though a wee bit more could have gone to the team at this time?

If the club fell into a position where it was losing money year after year, then we would be in trouble. In that sense, I am delighted that we have turned the situation around after two loss-making years.

What Hibs need to do is find a way to drive up turnover in a sustainable way. Improvement on the park is the only real answer to that.

Treadstone
10-09-2013, 10:38 AM
What's your thoughts, onlooking Jambos?

They're continung to make monumental James Blunts of themselves over on JKB. Their revisionism is a thing of beauty. Only a week or so ago they were telling all their fellow mutants that we'd be posting record losses etc. More so, in regards to the profits they posted a couple of years back, they now admit that they knew it had been "massaged" all along.........if that's the case then why were there threads about it "getting it right up" us?

Fuds. :aok:

Interesting use of James Blunt. I assume its in the cockney rhyming style, though they do have saving the world as a common cause.

http://www.bbc.co.uk/news/uk-politics-11753050

Guaranteed to be a yam.

scott7_0(Prague)
10-09-2013, 10:39 AM
Just got this comedy line from a Jambo friend.....


Papering over the cracks if you ask me.. must be cooking the books. How can a club survive on attendance's of 8,000

PMSL

Part/Time Supporter
10-09-2013, 10:41 AM
How can we have made a profit of only £100k if we've reduced debt by nearly £1m? :confused:

I suspect, although would need to see the full accounts to confirm, this is indirectly to do with Rangers / Sevco. I think folk held off buying season tickets in 2012 until they were confident about what was happening to them. IIRC there was also a payment held back by the SPL last year until they were sure that the TV deal would not be affected by Rangers leaving the league.

Both of those factors would have had the effect of reducing the cash balance at 31 July 2012, and therefore making the net debt (debt less cash) higher. Those amounts would have come in during August, meaning that the debt and cash figures weren't as bad at 31 July 2012 as they first appeared.

Neither of those would have affected profit unless the amounts hadn't come in (ie if the SPL TV deal had been cancelled or attendances had gone down).

Leishy1995
10-09-2013, 10:41 AM
If we had lost money we would have been banned from Europe I believe

Pedantic_Hibee
10-09-2013, 10:43 AM
I suspect, although would need to see the full accounts to confirm, this is indirectly to do with Rangers / Sevco. I think folk held off buying season tickets in 2012 until they were confident about what was happening to them. IIRC there was also a payment held back by the SPL last year until they were sure that the TV deal would not be affected by Rangers leaving the league.

Both of those factors would have had the effect of reducing the cash balance at 31 July 2012, and therefore making the net debt (debt less cash) higher. ie the figures weren't as bad last year as they first appeared.

Yeah, as I was saying above............

Northernhibee
10-09-2013, 10:49 AM
Is it possible to buy shares in order to attend?

Just don't expect a certificate.

Oops, wrong team.

LancsHibs
10-09-2013, 10:49 AM
Does this mean we CAN afford to punt Fenlon?:greengrin

CropleyWasGod
10-09-2013, 10:50 AM
If we had lost money we would have been banned from Europe I believe

Not the case.

Whilst FIFA and UEFA Fair Play regulations are beginning to take effect, merely making a loss is not grounds for preventing clubs taking part in European competitions. If that were the case, St. Johnstone would have been disqualified.

CallumLaidlaw
10-09-2013, 10:53 AM
As posted on brokeback



They really are thick aren't they?

The 31st of July. The same as every years accounts are taken to. Idiots.

Mikey
10-09-2013, 10:56 AM
Is it possible to buy shares in order to attend?

Yes, but you're way too late to get them in time for this AGM. It's for shareholders as at 31st July.



If we had lost money we would have been banned from Europe I believe

A Jambo told you that, didn't he :wink:

LancashireHibby
10-09-2013, 10:56 AM
Not the case.

Whilst FIFA and UEFA Fair Play regulations are beginning to take effect, merely making a loss is not grounds for preventing clubs taking part in European competitions. If that were the case, St. Johnstone would have been disqualified.
Having such a low wages-turnover ratio would stand us in good stead for FFP as well.

Hibbyradge
10-09-2013, 10:57 AM
Then again, what do I know, I'm sat in Hello Kitty y-fronts and staring at a courgette.

http://skepticalhumanities.files.wordpress.com/2012/03/coincidences.jpg

Leishy1995
10-09-2013, 10:59 AM
Not the case.

Whilst FIFA and UEFA Fair Play regulations are beginning to take effect, merely making a loss is not grounds for preventing clubs taking part in European competitions. If that were the case, St. Johnstone would have been disqualified.

Ah, might have been jambos saying 3 years off losses saw us banned

Leishy1995
10-09-2013, 11:00 AM
Yes, but you're way too late to get them in time for this AGM. It's for shareholders as at 31st July.




A Jambo told you that, didn't he :wink:

A fair few jambos did.

Hibbyradge
10-09-2013, 11:02 AM
They also finished higher up the league than us and played consistently better, I would sacrifice a £200k loss for that IMO.



Always easy to sacrifice someone else's money.

But let's develop that thought. How much would you be prepared for Hibs to overspend, for how long, and how would we pay for it?

JohnStephens91
10-09-2013, 11:05 AM
A Yam troglodyte said this:

"Oh wow! A £100,000 profit! It's amazing what you can do when you doctor the books to include two cup finals and your Europa League humping. The accounts have obviously been doctored by Petrie and the board to make it sweeter reading when really you'll only have to question an ever larger debt next year."

Without being prompted with bait he followed on with this:

"In fact, forget everything I just wrote. I'm happy for Hibs to continuously have the wool pulled over their eyes by Petrie. It's enjoyable to watch you keep lapping up his lies."

I dropped in the Vlad bomb:

"The claim of doctoring is pretty petty. Also the debt of the club fell by £900,000 to £5.5m which is due to repaying bank loans - something that Hearts definitely haven't done in a while. I can see why you are on the defensive. Also the irony of a Hearts supporter saying that opposition fans lapping up the lies of their chairman is enjoyable? That is far too much! Remember all that Vlad said and he fleeced your club and then the fans for an additional £1.1m of non-existent shares and made off with the money."

His small brain obviously can't compute any factual data after all the spurious lies that they had to endure for the best part of almost a decade. Poor Yams. :jmcp:

Peevemor
10-09-2013, 11:15 AM
http://www.edinburghnews.scotsman.com/sport/football/hibs/accounts-reveal-hibs-are-back-in-the-black-1-3084537

jonty
10-09-2013, 11:15 AM
Alright - which admin prick merged the petrie story and the finance statement. :giruy:

GlenrothesHibee
10-09-2013, 11:31 AM
Petrie and the board deserve enormous credit for these financial results. Rod Petrie is much maligned by some on here but personally i wouldn't want anyone else to run our club. A profit, all be it a small one, and reducing the debt by a million to a very managable 5.5m is almost unbelievable with the currant state of football in this country. Lets not forget that we have also assembled probably the best squad of players in the Premiership outside Celtic. Nobody can say that he hasn't backed the manager (whom he didn't appoint) to the hilt. I am delighted with this news and hope he keeps up the good work. And to any Yams looking in....Get that right up you

Dunderhall
10-09-2013, 11:31 AM
For anyone doubting Rod's not cooking the books, have a read of the EEN article where he is caught out.
Point blank denies ever being able to buy LG for £150K.
A simple slip of the tongue and it's exposed, FACT. END OFF.

http://www.edinburghnews.scotsman.com/sport/football/hibs/rod-petrie-lifts-lid-on-bid-for-leigh-griffiths-1-3084559

Pedantic_Hibee
10-09-2013, 11:33 AM
“The first objective is to achieve break-even to ensure the safety and security of the club so that future generations do not have to suffer the anguish and torment of whether their football club would fold and die."

Petrie trolling the Jambos. Yasssssssssssssssss!!!!!!!!!

PLEASING

http://images.football365.com/08/01/800x600/Rod_Petrie_620278.jpg

Gus Fring
10-09-2013, 11:34 AM
"Although he conceded the season had got off to a disappointing start, Petrie contended that the first objective of the board was to ensure the safety and security of the club so that future generations do not have to “suffer the anguish and torment of whether their football club would fold and die.”

:top marks

Weststandwanab
10-09-2013, 11:35 AM
How can we have made a profit of only £100k if we've reduced debt by nearly £1m? :confused:
Debt reduction transactions are capital in nature whereas profit and Loss items are Revenue in nature - quite separate

Interesting use of James Blunt. I assume its in the cockney rhyming style, though they do have saving the world as a common cause.

http://www.bbc.co.uk/news/uk-politics-11753050

Guaranteed to be a yam.
The original was James Hunt the racing driver

Having such a low wages-turnover ratio would stand us in good stead for FFP as well.
#
It most certainly will

Leishy1995
10-09-2013, 11:36 AM
For anyone doubting Rod's not cooking the books, have a read of the EEN article where he is caught out.
Point blank denies ever being able to buy LG for £150K.
A simple slip of the tongue and it's exposed, FACT. END OFF.

http://www.edinburghnews.scotsman.com/sport/football/hibs/rod-petrie-lifts-lid-on-bid-for-leigh-griffiths-1-3084559

I've read this post time after time and still don't understand if you're fishing or lost

CraigHibee
10-09-2013, 11:43 AM
the yams will be spewing

all ive heard for months is how "we are next" how "our debts will get as big as theirs"

well Yam munters....

stick that in yer pipe :cb

Scouse Hibee
10-09-2013, 11:47 AM
Great news, now on a Saturday at ER when the football's ****** I can relax back in my seat ignore the game and read the balance sheet!

Andy74
10-09-2013, 11:48 AM
the yams will be spewing

all ive heard for months is how "we are next" how "our debts will get as big as theirs"

well Yam munters....

stick that in yer pipe :cb

Has anyone pointed out the difference in our net assets?

Leishy1995
10-09-2013, 11:50 AM
Has anyone pointed out the difference in our net assets?

No, does anyone know it?

ancienthibby
10-09-2013, 11:58 AM
No, does anyone know it?

HOMFC - Nil

Hibs FC - £13.5 million.
Source - Annual statement just received.

Leishy1995
10-09-2013, 12:00 PM
HOMFC - Nil

Hibs FC - £13.5 million.

Source - Annual statement just received.

Ah that's just lovely

robinp
10-09-2013, 12:07 PM
I don't have access to the accounts but for those querying the £0.9m debt reduction and £0.1m profit. The statement mentions that these were scheduled debt repayments, so we repaid a line of credit, whether it be a mortgage or Tom Farmer loan or whatever.

Fact is we paid off the debt during the financial year and if we hadn't, we would have made a profit of £1.0m instead.

Pedantic_Hibee
10-09-2013, 12:07 PM
To anyone from JKB looking in, please close your "Losers Make Profit" thread, you're just embarrassing yourselves.

They've spent months and months telling us we are going to record huge losses and how we'll be next to go into admin etc. Yet in one fell swoop, we've nullified their jibes and their default response is "Just wait until next years accounts".

I'm pretty sure they said the same about their accounts year on year as well...."we've offloaded the high-earners", "next years accounts will be better", "aye but we've got shot of Ibrahim Tall and Laryea Kingston so it'll be better next year".


Lads, just stoap it, you're making an absolute Nerijus Barasa of yourselves. Sp*nk trumpets to a man.

Dunderhall
10-09-2013, 12:08 PM
I've read this post time after time and still don't understand if you're fishing or lost
I guess I'm lost then.

Pedantic_Hibee
10-09-2013, 12:11 PM
I don't have access to the accounts but for those querying the £0.9m debt reduction and £0.1m profit. The statement mentions that these were scheduled debt repayments, so we repaid a line of credit, whether it be a mortgage or Tom Farmer loan or whatever.

Fact is we paid off the debt during the financial year and if we hadn't, we would have made a profit of £1.0m instead.

I just relayed this to a Yam.

His reaction put him off the cleaning of his Landrover...........

http://i.imgur.com/c9Ups.gif


Yamathematicians just don't understand.

Beefster
10-09-2013, 12:13 PM
I just relayed this to a Yam.

His reaction put him off the cleaning of his Landrover...........


Yamathematicians just don't understand.

I think I just dribbled a bit whilst guffawing uncontrollably.

CropleyWasGod
10-09-2013, 12:15 PM
I don't have access to the accounts but for those querying the £0.9m debt reduction and £0.1m profit. The statement mentions that these were scheduled debt repayments, so we repaid a line of credit, whether it be a mortgage or Tom Farmer loan or whatever.

Fact is we paid off the debt during the financial year and if we hadn't, we would have made a profit of £1.0m instead.

I'm just back from marking CA exams.

Had you made that statement in an exam , you would have got a muttered GTF from me, and Nul Points :greengrin

If the debt had remained the same, or even increased, profit would have been the same (give or take an adjustment for interest).

See me efter skule...

Part/Time Supporter
10-09-2013, 12:16 PM
I don't have access to the accounts but for those querying the £0.9m debt reduction and £0.1m profit. The statement mentions that these were scheduled debt repayments, so we repaid a line of credit, whether it be a mortgage or Tom Farmer loan or whatever.

Fact is we paid off the debt during the financial year and if we hadn't, we would have made a profit of £1.0m instead.

That's not right at all. Let's say you have debt of £10M and cash in hand of £1M. If you choose to use that £1M to reduce the debt, it has no effect on your profit.

Hibs' statement just says that the scheduled debt payments were made. What that means is that they chipped away at the gross debt at the usual rate. The "net debt" figure will have fallen because the cash balance at 31 July 2013 was quite a bit higher than at 31 July 2012. I suggested a couple of reasons for this above.

KeithTheHibby
10-09-2013, 12:35 PM
Nah. Alarm bells would rightly have been ringing if we had made another loss. To make a small profit and clear nearly £1m off the debt is pretty good going.

I've said before that PF is doing just about everything right at Hibs, with the exception of the most important 90 minutes of the week. His successor will inherit an excellent legacy.

Bang on the money Mikey. The 90 minutes is the most frustrating aspect in all this.

robinp
10-09-2013, 12:36 PM
I'm just back from marking CA exams.

Had you made that statement in an exam , you would have got a muttered GTF from me, and Nul Points :greengrin

If the debt had remained the same, or even increased, profit would have been the same (give or take an adjustment for interest).

See me efter skule...


Good thing I'm not a CA. :greengrin

blackpoolhibs
10-09-2013, 12:36 PM
“The first objective is to achieve break-even to ensure the safety and security of the club so that future generations do not have to suffer the anguish and torment of whether their football club would fold and die."

Petrie trolling the Jambos. Yasssssssssssssssss!!!!!!!!!

PLEASING

http://images.football365.com/08/01/800x600/Rod_Petrie_620278.jpg


Naw, the first objective is to put a decent exciting football team onto the pitch with the money the club generates.

As usual the real reason we turn up at easter road in nowhere near the forefront of the people running the clubs thoughts.

Any slight dig at our stupid neighbours, and the last six years are forgotten and Rods a ****in star again. :rolleyes:

Caversham Green
10-09-2013, 12:46 PM
I don't think now is the time to be making profit. I'm all for stability etc but sounds as though a wee bit more could have gone to the team at this time?

Just to talk round this point a bit:

Hibs are paying off their debt at a rate of about £350k per annum. That doesn't come out of profit so, all other things being equal (they're not) we would have to make profits of £350k just to stand still. That's countered by non-cash expenses such as depreciation, which reduce profit but don't represent cash going out within the year, and by fluctuations in current assets and liabilities so that profit doesn't directly relate to debt reduction. In fact, I will predict that the reduction in net debt arises from an increase in cash in hand in the region of £550k and the planned reduction of gross debt of about £350k. In other words, they haven't used the profit to reduce debt by more than the scheduled amount, the reduction of net debt is just a happy product of an increased bank account - arising from ST sales, possibly the Malmo game etc, but cash in hand is a constantly changing figure and in this case it's likely to reduce from the figure shown in the accounts. That's why I dislike the use of net debt as an indicator of the health of any business.

Hibs' stated philosophy is to spend a pound less than we bring in, but that doesn't translate to £1 profit every year for the reasons outlined above, so it could be argued that the losses of the last two years were simply mopping up the profits from the previous 5 or 6. A profit is always better then a loss, but £100k is a bit meh to me, however as always, the devil is in the detail.


Has anyone pointed out the difference in our net assets?

Strangely enough they're both around the same amount. Theirs have brackets around them though.

Pedantic_Hibee
10-09-2013, 12:52 PM
Naw, the first objective is to put a decent exciting football team onto the pitch with the money the club generates.

As usual the real reason we turn up at easter road in nowhere near the forefront of the people running the clubs thoughts.

Any slight dig at our stupid neighbours, and the last six years are forgotten and Rods a ****in star again. :rolleyes:

The board have spent almost every available penny in backing the manager, G. We may not have chosen the best managers for the job but that's an entirely different argument.

blackpoolhibs
10-09-2013, 12:56 PM
The board have spent almost every available penny in backing the manager, G. We may not have chosen the best managers for the job but that's an entirely different argument.

I agree, this club backs every manager they appoint. There's only one question that needs asked when the next meeting between the fans and the board takes place, why are we so poor Rod?

Pedantic_Hibee
10-09-2013, 01:01 PM
I agree, this club backs every manager they appoint. There's only one question that needs asked when the next meeting between the fans and the board takes place, why are we so poor Rod?

Rod - "A good question Sir......Pat, I'll let you answer this one"

southsider
10-09-2013, 01:04 PM
The bottom line guys is that from 1st January 2013 until the present date we have had, in home league games, 7 draws, 3 defeats and ONE victory. If anyone thinks that is progress then thay live in la la land.

Speedway
10-09-2013, 01:04 PM
Well if this is only a Rod thread, and he's rightly being praised for the accounts. Is it fair to criticise the football part of his remit, you know the reason we ALL go along to easter road?

36 YEARS OF PISH AND COUNTING. :rolleyes:

That's better.

Criswell
10-09-2013, 01:14 PM
the yams will be spewing

all ive heard for months is how "we are next" how "our debts will get as big as theirs"

well Yam munters....

stick that in yer pipe :cb

There would appear to be a major outbreak of frothing seethe in yam land.

PLEASING!

Mikey
10-09-2013, 01:15 PM
You can view the accounts here...........

http://www.hibs.net/showthread.php?270893-The-Accounts-To-31st-July-2013-See-Them-Here

Saorsa
10-09-2013, 01:22 PM
The bottom line guys is that from 1st January 2013 until the present date we have had, in home league games, 7 draws, 3 defeats and ONE victory. If anyone thinks that is progress then thay live in la la land.That's only the fitba side, you shouldnae worry about that, get yer priorities right, we're a profit making business again, that's what matters. :agree: I think we should use some of the 100,000 profit and hire a bus tae parade the books doon the Walk and up Easter Road now that they are respectable again. :agree:

JimBHibees
10-09-2013, 01:23 PM
The bottom line guys is that from 1st January 2013 until the present date we have had, in home league games, 7 draws, 3 defeats and ONE victory. If anyone thinks that is progress then thay live in la la land.

Yeah but we only lost 3 out of 10. :greengrin

Bostonhibby
10-09-2013, 01:27 PM
That's only the fitba side, you shouldnae worry about that, get yer priorities right, we're a profit making business again, that's what matters. :agree: I think we should use some of the 100,000 profit and hire a bus tae parade the books doon the Walk and up Easter Road now that they are respectable again. :agree:

:agree: Being of the Hands of Hibs Era I usually give credit where its due on the financial side but I am past that now.

Does anyone know any great songs about ledgers or balance sheets for the next home game? might provide a bit of light hearted distraction from what we are having to watch in our quest for a draw.:greengrin

Speedway
10-09-2013, 01:33 PM
Also worth noting that 'Petrie and his cronies' continue to bleed the club dry by taking the following salaries:

Bruce Langham £NIL
Amanda Jones £NIL
Colin McNeill £NIL
Brian Houston £NIL

Rodders/Marwick/O'Hagan - £154k total with the highest being £71k including expenses and Fat Penlon contributions.

Mikeystewart
10-09-2013, 01:38 PM
Sorry if this has already been asked, but what is the point in announcing pre-tax figures? surely a club with our revenue will have made a loss if the pre-tax profit is only 100k?

Speedway
10-09-2013, 01:40 PM
:agree: Being of the Hands of Hibs Era I usually give credit where its due on the financial side but I am past that now.

Does anyone know any great songs about ledgers or balance sheets for the next home game? might provide a bit of light hearted distraction from what we are having to watch in our quest for a draw.:greengrin

There's loads:

'You're not paying overdraft interest anymoooorre, you're not paying....'

'You're so profitable it's unbelievable'

'You're going home to a healthy net asset position'

'Sing when you've made money, you only sing...'

'Can we get a sub off you every week'

'Are you economists in disguise? Are you....'

And the top one:

Every week rain or shine, cashbook or Sage or double entry
We'd go and see the Hibees account together
Hibernian!
And I cried my eyes out once or twice when they cancelled 'cause of a Bank Holiday
I'd have had them make a profit in any statuatory day off

Speedway
10-09-2013, 01:40 PM
Sorry if this has already been asked, but what is the point in announcing pre-tax figures? surely a club with our revenue will have made a loss if the pre-tax profit is only 100k?

What do you think you pay tax on?

CropleyWasGod
10-09-2013, 01:43 PM
Sorry if this has already been asked, but what is the point in announcing pre-tax figures? surely a club with our revenue will have made a loss if the pre-tax profit is only 100k?

It's normal for companies to use the Pre-tax profit as the main measure of commercial performance.

There will be no tax charge for us this year, as the losses made in the previous 2 years will be set against this year's small profit.

Mikeystewart
10-09-2013, 01:43 PM
What do you think you pay tax on?

I want to know what tax hasn't been deducted from the 100k profit. Basically what would the figure be post-tax

CropleyWasGod
10-09-2013, 01:45 PM
I want to know what tax hasn't been deducted from the 100k profit. Basically what would the figure be post-tax

It's the same as it is pre-tax.

There is no tax.

Bostonhibby
10-09-2013, 01:47 PM
There's loads:

'You're not paying overdraft interest anymoooorre, you're not paying....'

'You're so profitable it's unbelievable'

'You're going home to a healthy net asset position'

'Sing when you've made money, you only sing...'

'Can we get a sub off you every week'

'Are you economists in disguise? Are you....'

And the top one:

Every week rain or shine, cashbook or Sage or double entry
We'd go and see the Hibees account together
Hibernian!
And I cried my eyes out once or twice when they cancelled 'cause of a Bank Holiday
I'd have had them make a profit in any statuatory day off

Great, just great :thumbsup:Just finished p***ing myself laughing in front of a number of accountancy students! Doubt they would understand and I haven't really got the time to tell them all about Hibs

Mikeystewart
10-09-2013, 01:47 PM
It's the same as it is pre-tax.

There is no tax.

Sorry i'm missing your point. Are you saying that because over 2 years we made a loss of 800k that we don't have to pay tax :confused:

Gus Fring
10-09-2013, 01:47 PM
A few more belters from over the road.


Okay they say they've made 100k profit, I'll wait and see how that looks next year 5.5M and counting

No. Not "and counting". It's falling. In the previous set of accounts it was £6.4m.


Sorry no credit here I'm afraid, the only reason their season tickets where up on last year was due to our situation, things will resume to normal next season.

We sold more season tickets because Hearts are going bust? I think they'll find that's why their season tickets are up on last year. I don't know a single Hibs fan who forked out hundreds of pounds on a season ticket because hearts are going bust.

Speedway
10-09-2013, 01:50 PM
Sorry i'm missing your point. Are you saying that because over 2 years we made a loss of 800k that we don't have to pay tax :confused:

Losses can be carried forward.

Saorsa
10-09-2013, 01:51 PM
A few more belters from over the road.



No. Not "and counting". It's falling. In the previous set of accounts it was £6.4m.



We sold more season tickets because Hearts are going bust? I think they'll find that's why their season tickets are up on last year. I don't know a single Hibs fan who forked out hundreds of pounds on a season ticket because hearts are going bust.:agree: but I will spend a fair few quid on a party when they go doon the pan :partyhibb

:greengrin

Mikeystewart
10-09-2013, 01:55 PM
Losses can be carried forward.

Yes, but is the the pre-tax on the 100k, or the 8 Million in revenue. Pre-tax must mean "before tax has been paid" all i'm curious to know is what tax hasn't been paid.

Pretty Boy
10-09-2013, 01:56 PM
A few more belters from over the road.



No. Not "and counting". It's falling. In the previous set of accounts it was £6.4m.



We sold more season tickets because Hearts are going bust? I think they'll find that's why their season tickets are up on last year. I don't know a single Hibs fan who forked out hundreds of pounds on a season ticket because hearts are going bust.

I found that argument baffling as well.

I forked out £400 on a ST for Hibs because Hearts are going bust. Aye ok then.

joe breezy
10-09-2013, 01:58 PM
It's all hobo lies #foreverinourshadow #pleasing #bigteam

Part/Time Supporter
10-09-2013, 01:58 PM
Yes, but is the the pre-tax on the 100k, or the 8 Million in revenue. Pre-tax must mean "before tax has been paid" all i'm curious to know is what tax hasn't been paid.

When the accounts of a limited company talk about "pre-tax profit", they mean the profit made before Corporation Tax (the tax on company profits) has been considered.

Hibs won't pay any Corporation Tax this year (or likely any other) because they don't normally make profits. When they make a loss it's added to the pile of losses carried forward. This (relatively small) profit will be deducted from that balance.

All other taxes will have been paid. The £8M of revenue is net of VAT, which has already been passed on to HMRC. The wages figures in the accounts declare the gross wages + Employers NIC. The net wage is paid to the employees and the PAYE and NIC is paid to HMRC.

Pedantic_Hibee
10-09-2013, 02:00 PM
A Yam Fud writes:

But they still have £5.5m of debt - £13 million in assets but if that changes - like the lender calls in their debt and your £13m in assets cant be realised you're goosed, in Hibs case Sir Tam is underwriting the mortgages/loans if he pops it or decides to call it a day and no one else can underwrite the debt there up the creek without a paddle? Right or wrong ??





http://i141.photobucket.com/albums/r68/dotec/ClutchingStraws.jpg

Mikeystewart
10-09-2013, 02:02 PM
When the accounts of a limited company talk about "pre-tax profit", they mean the profit made before Corporation Tax (the tax on company profits) has been considered.

Hibs won't pay any Corporation Tax this year (or likely any other) because they don't normally make profits. When they make a loss it's added to the pile of losses carried forward. This (relatively small) profit will be deducted from that balance.

All other taxes will have been paid. The £8M of revenue is net of VAT, which has already been passed on to HMRC. The wages figures in the accounts declare the gross wages + Employers NIC. The net wage is paid to the employees and the PAYE and NIC is paid to HMRC.

Ah that makes more sense, I didn't realize corporation tax was on profit, just thought it was on revenue in general. Cheers :aok:

Pedantic_Hibee
10-09-2013, 02:06 PM
-------------------------------------------------------------------------------------------------------------

So what did he do with that profit? Oh yes, handed it and another 100 grand to their worst manager in years to blow on a very poor striker. Well played, Rod, well played.

As long as Hibs remain so focused on fattening up the club for sale (which is what they have been trying to do for years) they will continue to do nothing noteworthy on the pitch other than get humped by our U20 team.

-------------------------------------------------------------------------------------------------------------------------------------------

Contradiction in one post. Brilliant.

Jambos, stop hurting, please, just delete your thread. My sides can't take it anymore.

Part/Time Supporter
10-09-2013, 02:10 PM
A Yam Fud writes:

But they still have £5.5m of debt - £13 million in assets but if that changes - like the lender calls in their debt and your £13m in assets cant be realised you're goosed, in Hibs case Sir Tam is underwriting the mortgages/loans if he pops it or decides to call it a day and no one else can underwrite the debt there up the creek without a paddle? Right or wrong ??

Queue dramatic music... Hibs actually have about £8M of debt!*

Against that they had about £1.5M of cash at 31 July.

Of the £8M, about £1M seems to be a soft parent company loan (ie from Farmer) that isn't being repaid.

The "net debt" figure of £5.5M is made up of the £8M of total debt, less the £1.5M in cash and £1M in soft loans that are not being repaid.

The remaining £7M is mostly made up of three mortgages secured on ER. Of that amount, only £370K is due for repayment in the next year. The clear majority of the mortgages (£4.8M out of £7M) is not due for repayment within the next 5 years. Hibs are paying about 2% interest on the mortgages.

brog
10-09-2013, 02:11 PM
Yes, but is the the pre-tax on the 100k, or the 8 Million in revenue. Pre-tax must mean "before tax has been paid" all i'm curious to know is what tax hasn't been paid.
There are 3 lines on the P & L a/c.
1. Profit pre tax £132,411
2. Tax zero
3. Profit for year £132,411

As another poster stated last years loss of £957k can be set off against this year's profit thereby negating this year's tax. We do of course pay, or more accurately collect & transfer PAYE & VAT throughout the year unlike our esteemed neighbours who collected these monies but used the cash to fund their business! Yam class!

paul_hfc3
10-09-2013, 02:16 PM
“The first objective is to achieve break-even to ensure the safety and security of the club so that future generations do not have to suffer the anguish and torment of whether their football club would fold and die."

Petrie trolling the Jambos. Yasssssssssssssssss!!!!!!!!!

PLEASING

http://images.football365.com/08/01/800x600/Rod_Petrie_620278.jpg

RP doing exactly what I expect of him. :flag:

and GIRFUY yams! :giruy:

brog
10-09-2013, 02:24 PM
I notice we now have zero stock on our balance sheet, last year £240k. I'm assuming this reflects a change of practice in that supplier must now own the stock & pay us commission. I'm surprised there's not a note to that effect.

Gus Fring
10-09-2013, 02:25 PM
So what did he do with that profit? Oh yes, handed it and another 100 grand to their worst manager in years to blow on a very poor striker. Well played, Rod, well played.

I really want to make an account over there to point out their stupidity but I reckon I'd only last 5 minutes. They don't like the truth over there.

James Collins' Transfer was completed in July so will show up on this set of accounts. That means we paid £200,000 for a striker and STILL turned a £100,000 profit.

Sergio sledge
10-09-2013, 02:28 PM
Queue dramatic music... Hibs actually have about £8M of debt!*

Against that they had about £1.5M of cash at 31 July.

Of the £8M, about £1M seems to be a soft parent company loan (ie from Farmer) that isn't being repaid.

The "net debt" figure of £5.5M is made up of the £8M of total debt, less the £1.5M in cash and £1M in soft loans that are not being repaid.

The remaining £7M is mostly made up of three mortgages secured on ER. Of that amount, only £370K is due for repayment in the next year. The clear majority of the mortgages (£4.8M out of £7M) is not due for repayment within the next 5 years. Hibs are paying about 2% interest on the mortgages.

Total debt was £8.6m at the start of the year and is £8.47m at the end of the year. This is due to mortgage and finance payments in the year reducing the debt, but the "intercompany balance" increasing by £250k.

Do you know why there is a separate line for "parent company loan" and "amounts due to parent company"? Is it because one bears interest and the other doesn't? Also, why has this "inter-company balance" increased by £250k, have they lent us a further £250k at some point during the year which has meant we could still post a profit?

Part/Time Supporter
10-09-2013, 02:29 PM
I really want to make an account over there to point out their stupidity but I reckon I'd only last 5 minutes. They don't like the truth over there.

James Collins' Transfer was completed in July so will show up on this set of accounts. That means we paid £200,000 for a striker and STILL turned a £100,000 profit.

Transfer fees paid don't directly go into the P&L account. They go into intangible fixed assets (note 10 in this year's accounts) and are then amortised over the life of the player's contract.

Sergio sledge
10-09-2013, 02:30 PM
I notice we now have zero stock on our balance sheet, last year £240k. I'm assuming this reflects a change of practice in that supplier must now own the stock & pay us commission. I'm surprised there's not a note to that effect.

Change to the Nike branded store maybe?

Part/Time Supporter
10-09-2013, 02:31 PM
Total debt was £8.6m at the start of the year and is £8.47m at the end of the year. This is due to mortgage and finance payments in the year reducing the debt, but the "intercompany balance" increasing by £250k.

Do you know why there is a separate line for "parent company loan" and "amounts due to parent company"? Is it because one bears interest and the other doesn't? Also, why has this "inter-company balance" increased by £250k, have they lent us a further £250k at some point during the year which has meant we could still post a profit?

It's a good question. I guess that at some point in the year cash was somewhat tight and they decided to increase the facility by that amount. It wouldn't affect profit because there's no gain there, cash is increased by the same amount as the debt.

Bostonhibby
10-09-2013, 02:44 PM
A few more belters from over the road.



No. Not "and counting". It's falling. In the previous set of accounts it was £6.4m.



We sold more season tickets because Hearts are going bust? I think they'll find that's why their season tickets are up on last year. I don't know a single Hibs fan who forked out hundreds of pounds on a season ticket because hearts are going bust.

To all the on looking yams, we pay our bills, we are not in administration, we did not have any unpaid charity money "resting" in our accounts, we manage our debts on a business as usual basis. You haven't been or you wouldn't be where you are today.

Jack
10-09-2013, 03:15 PM
This can't be right! According to Hearts fans, we're meant to be losing £1m a year, not making profits and reducing debt! ;)

I must have better yam pals than you! Mine assured me we were losing £1m a month despite my assurances we didn't know what £1m a month looked like. I'm going to really enjoy this weekends drinking session and yes I may parade up and down the bar with my set of the accounts held high :-)

Jack
10-09-2013, 03:19 PM
:agree: Being of the Hands of Hibs Era I usually give credit where its due on the financial side but I am past that now.

Does anyone know any great songs about ledgers or balance sheets for the next home game? might provide a bit of light hearted distraction from what we are having to watch in our quest for a draw.:greengrin

Not directly but we'll be able to sing 'happy birthday to the Hibees' for many years to come.

It really is frustrating that, as mentioned earlier, the first team weekly 90 minutes doesn't reflect our success in every other part of the business.

hhibs
10-09-2013, 03:20 PM
Away ye go.

Bed wetting is referring to folk with knee jerk reactions, we have been pish for years, literally YEARS I don't see how this is bed wetting.

Have to agree with you on this ,no improvement in 6 years and frustrating as hell.

Two consecutive Scottish Cup thumpings do not make up for a chronic performances in the league and a brand of football destined to send you to the loony bin.

No doubt will be blasted for not happy clapping.:brickwall

Bostonhibby
10-09-2013, 03:23 PM
Not directly but we'll be able to sing 'happy birthday to the Hibees' for many years to come.

It really is frustrating that, as mentioned earlier, the first team weekly 90 minutes doesn't reflect our success in every other part of the business.

:agree:

Mikey
10-09-2013, 03:24 PM
No doubt will be blasted for not happy clapping.:brickwall

And then banned :agree:

Pedantic_Hibee
10-09-2013, 04:00 PM
And then banned :agree:

:faf:

weonlywon6-2
10-09-2013, 04:12 PM
Well done hibs for this promising news.Hopefully things will pick up on the football playing side of thins

Hibbyradge
10-09-2013, 04:22 PM
What do you think you pay tax on?

:faf:

lucky
10-09-2013, 04:25 PM
We all know that the football has been dire for the last few years, but today's financial statement is good news for the club. If we had posted another loss this place would be in meltdown. The facts are the board are steering Hibs in the right direction of the park. Lets hope that PF can get things going on the park.

Kaiser1962
10-09-2013, 04:31 PM
Exactly. It's not a lack of money that is making us crap, it's poor football management.
Our budget is higher than our competitors except Celtic (possibly Aberdeen, although they will not be able to sustain it).

Why not?

They bring in more money than us most seasons.

Weststandwanab
10-09-2013, 04:36 PM
I'm just back from marking CA exams.

Had you made that statement in an exam , you would have got a muttered GTF from me, and Nul Points :greengrin

If the debt had remained the same, or even increased, profit would have been the same (give or take an adjustment for interest).

See me efter skule...
You are generous, for that answer I would have awarded minus 15 !

Good thing I'm not a CA. :greengrin
Agreed.

That's better.


Sorry if this has already been asked, but what is the point in announcing pre-tax figures? surely a club with our revenue will have made a loss if the pre-tax profit is only 100k?
It is a legal requirement under Company Law.

What do you think you pay tax on?
You actually pay tax on the adjusted for tax profit - CWG will understand.

It's normal for companies to use the Pre-tax profit as the main measure of commercial performance.
It is.
There will be no tax charge for us this year, as the losses made in the previous 2 years will be set against this year's small profit.


I want to know what tax hasn't been deducted from the 100k profit. Basically what would the figure be post-tax
Because no Corporation tax is due assuming H.M.R.C. agree the Computations.

Sorry i'm missing your point. Are you saying that because over 2 years we made a loss of 800k that we don't have to pay tax :confused:More than likely.


Yes, but is the the pre-tax on the 100k, or the 8 Million in revenue. Pre-tax must mean "before tax has been paid" all i'm curious to know is what tax hasn't been paid.
Because despite the £100k profit no Corporation Tax is due.

I notice we now have zero stock on our balance sheet, last year £240k. I'm assuming this reflects a change of practice in that supplier must now own the stock & pay us commission. I'm surprised there's not a note to that effect.
No need to disclose that under Company Law.

[/FONT][/COLOR]

I really want to make an account over there to point out their stupidity but I reckon I'd only last 5 minutes. They don't like the truth over there.

James Collins' Transfer was completed in July so will show up on this set of accounts. That means we paid £200,000 for a striker and STILL turned a £100,000 profit.

Not necessarily

Jack
10-09-2013, 05:00 PM
Not paying Corporation Tax is a disgrace and I'm ashamed.

We should do the same as Vodafone, Amazon and Starbucks.

Pro-rata I reckon that should be a voluntary payment of about 1p.

greenpaper55
10-09-2013, 05:25 PM
They have a thread over "there " about us making a profit , they are so jealous. This was a response from a throbber- Hearts made a profit in 2012.
Close thread.

Unbelievable, bet he is still waiting on his shares arriving anytime soon

O'Rourke3
10-09-2013, 05:41 PM
If i was a porn star, that would be the name i'd pick.
:faf: :top marks

Ozyhibby
10-09-2013, 05:50 PM
Why not?

They bring in more money than us most seasons.

They have an extra £300k a year income over us.
They have a debt that is double ours and on less favourable terms.
They pay £600k per year to service their debt compared with £240k per year for us.
They lost £1.3m last year and £2.1m the year before.
I would think the maintenance costs on Easter road would compare favourably with Pittodrie.
They have to find money to either upgrade Pittodrie or move to a new stadium.
I think if they are spending more than us it's unsustainable.

SunshineOnLeith
10-09-2013, 05:54 PM
If any Jambos looking in are wondering what that funny looking thing on page 5 is, that's what an unqualified audit report looks like. From a Big 4 accountancy firm.

But aye, Rod's cooked the books, tick tock.

Kaiser1962
10-09-2013, 09:20 PM
They have an extra £300k a year income over us.


In the last five seasons their income is £7.5m better than ours (£44.4m as opposed to £36.9m). For the last published accounts (2011-2012) they brought in £1.4m more than us (£8.3m as opposed to £6.9m)

We will be closer to them last season (2012-2013) but we will soon find out as they are also prompt with their accounts.

Caversham Green
11-09-2013, 07:35 AM
In the last five seasons their income is £7.5m better than ours (£44.4m as opposed to £36.9m). For the last published accounts (2011-2012) they brought in £1.4m more than us (£8.3m as opposed to £6.9m)

We will be closer to them last season (2012-2013) but we will soon find out as they are also prompt with their accounts.

To put some context on that, their turnover for 2008 - the year they played in the Europa Cup group stages - was a full £5.3m higher than the previous year's. Their wages and other costs were also massively higher and they 'only' made a profit of £1.1m for that year. I suspect there was a degree of follow-on for the following season as well. Aside from that their turnover is very similar to that of Hibs, and Hibs have probably been more successful in selling players.

MurrayfieldHibs
11-09-2013, 09:16 AM
If any Jambos looking in are wondering what that funny looking thing on page 5 is, that's what an unqualified audit report looks like. From a Big 4 accountancy firm.

But aye, Rod's cooked the books, tick tock.

:agree: I am sure they will appreciate you pointing that out :agree:

JohnStephens91
11-09-2013, 02:14 PM
"Hobos were lucky last year in the cup there games against us and the sheep were on the telly plus we would have brought 2k more fans the the likes of St Mirren for example.

They will be back in the red by next year and we will be living within our means."

10944

Pedantic_Hibee
11-09-2013, 03:19 PM
With regards to their thread about our recent set of accounts, their excuses only show one thing. It hurts them.

Ozyhibby
11-09-2013, 03:32 PM
With regards to their thread about our recent set of accounts, their excuses only show one thing. It hurts them.

And very enjoyable it is too.

brog
11-09-2013, 03:44 PM
"Hobos were lucky last year in the cup there games against us and the sheep were on the telly plus we would have brought 2k more fans the the likes of St Mirren for example.

They will be back in the red by next year and we will be living within our means."

10944

They can't even get their complaints correct! All 5 of our cup games were live on TV. Strangely only 1 of Yams was!

erin go bragh
11-09-2013, 05:51 PM
"Hobos were lucky last year in the cup there games against us and the sheep were on the telly plus we would have brought 2k more fans the the likes of St Mirren for example.

They will be back in the red by next year and we will be living within our means."

10944

They really are obsessed with us . Sad puddle drinkers that they are .

Ggtth

Part/Time Supporter
12-09-2013, 05:17 PM
Hibernian FC ‏@HibernianFCClub (https://twitter.com/HibernianFCClub)23m (https://twitter.com/HibernianFCClub/status/377352479593086976)
CORRECTION: The Annual General Meeting for shareholders will be held at Easter Road Stadium at 7pm on Tuesday 1 October 2013.

Sly bugger, is Rod. That is the same night that Celtc are playing Barca (which is on council telly).

Billy Whizz
12-09-2013, 05:32 PM
Sly bugger, is Rod. That is the same night that Celtc are playing Barca (which is on council telly).

Will the AGM not be over in 10 mins or so. The Barca game will ko at 7.45pm

Part/Time Supporter
12-09-2013, 05:40 PM
Will the AGM not be over in 10 mins or so. The Barca game will ko at 7.45pm

Main business of the AGM (accounts approval, director re-appointment) takes 10 minutes. It's the open-ended Q&A under any other business that takes longer and is more testing if things aren't going well on the park.

Saorsa
12-09-2013, 05:44 PM
Main business of the AGM (accounts approval, director re-appointment) takes 10 minutes. It's the open-ended Q&A under any other business that takes longer and is more testing if things aren't going well on the park.Q&NA :wink: