Accounts AGM

[DarlingtonHibee]

Anyone know what the date of the AGM last year, late October rings a bell.

[danhibees1875]

Anyone know what the date of the AGM last year, late October rings a bell.

October 24th. :aok:

[DarlingtonHibee]

October 24th. :aok:

Cheers mate, thought it was the 24th.

Be good to know so can sort out travel etc for this year

[ancient hibee]

Don't rely on it being the same date or even close to it.

[RoYO!]

So what are we expecting to hear about financial performance this year? Any guesses- informed or otherwise!?

[Smartie]

So what are we expecting to hear about financial performance this year? Any guesses- informed or otherwise!?

I'm very interested to hear the figures this year.

Everything suggests we should be in good shape yet there is more than a little evidence out there that we're not.

It will be interesting to find out clues regarding money actually received for SJM and if any numbers have had to be hidden anywhere regarding the departure of a former manager.

I wonder how excited our new owner will be st the prospect of getting s good team on the park / get his first major infrastructure project under his belt and how those priorities figure in his thinking?

[DarlingtonHibee]

Don't rely on it being the same date or even close to it.

Fully understand mate, only trying to get a date, so I can book trains and hotel.

[DarlingtonHibee]

I'm very interested to hear the figures this year.

Everything suggests we should be in good shape yet there is more than a little evidence out there that we're not.

It will be interesting to find out clues regarding money actually received for SJM and if any numbers have had to be hidden anywhere regarding the departure of a former manager.

I wonder how excited our new owner will be st the prospect of getting s good team on the park / get his first major infrastructure project under his belt and how those priorities figure in his thinking?

I think we will be in good shape.

[Onceinawhile]

So what are we expecting to hear about financial performance this year? Any guesses- informed or otherwise!?

Uninformed.

Break even/small profit. Money down from crap cup runs, but possible bump from SJM money with Aston villa getting promoted.

Folk to complain about ms dempster's package.

[ancient hibee]

Fully understand mate, only trying to get a date, so I can book trains and hotel.
Try the club.A couple of years ago it was in December for some reason.

[ancient hibee]

Uninformed.

Break even/small profit. Money down from crap cup runs, but possible bump from SJM money with Aston villa getting promoted.

Folk to complain about ms dempster's package.
Don’t agree.SJM transfer fee,record ST sales and European run will all provide top revenue.

[DarlingtonHibee]

Try the club.A couple of years ago it was in December for some reason.

Tried the club this morning and explained the situation, no go releasing the date, must be in people's diaries. Shame.

[Onceinawhile]

Don’t agree.SJM transfer fee,record ST sales and European run will all provide top revenue.

European run seems like a lifetime ago, never mind last season!

[ancient hibee]

European run seems like a lifetime ago, never mind last season!
Estimates were best part of a million in prize money and gates.

[The 90+2]

Uninformed.

Break even/small profit. Money down from crap cup runs, but possible bump from SJM money with Aston villa getting promoted.

Folk to complain about ms dempster's package.

Won’t SJM’s actual transfer fee be in the last accounts ending July as he was sold last summer?

Will it show in the accounts what money was spent saying Cheerio to Lennon?

[DarlingtonHibee]

Hi mate, re sjm and Neil, it's lumped into wages, only individual will be leeann, circa £140k at a guess.

[The 90+2]

Thanks DH 👍

[DarlingtonHibee]

Thanks DH 👍

Ggtth

[Onceinawhile]

Won’t SJM’s actual transfer fee be in the last accounts ending July as he was sold last summer?

Will it show in the accounts what money was spent saying Cheerio to Lennon?

Meant money from them getting promoted (we apparently had clauses)

I told you it was uninformed.

Forgot lenny got binned as well....

Who knows. I'm sure the auditors will be well paid to make it look good anyway.

[Onceinawhile]

Hi mate, re sjm and Neil, it's lumped into wages, only individual will be leeann, circa £140k at a guess.

She's unlikely to be singled out more likely put through as "director's remuneration" from memory, there was a big wage paid into a pension last year, which annoyed me from a hibs fan point of view.

But from a tax planning perspective 👌👌

[The 90+2]

Meant money from them getting promoted (we apparently had clauses)

I told you it was uninformed.

Forgot lenny got binned as well....

Who knows. I'm sure the auditors will be well paid to make it look good anyway.

Sorry mate wasn’t meaning to make it sound like I was questioning you - I’ve no idea so was asking in general :)

[DarlingtonHibee]

She's unlikely to be singled out more likely put through as "director's remuneration" from memory, there was a big wage paid into a pension last year, which annoyed me from a hibs fan point of view.

But from a tax planning perspective 👌👌

She won't be named, but its fairly obvious.

Last year included a cup winning bonus, which was transferred to a pension scheme, good luck to her.

[oldbutdim]

Meant money from them getting promoted (we apparently had clauses)

I told you it was uninformed.

Forgot lenny got binned as well....

Who knows. I'm sure the auditors will be well paid to make it look good anyway.

I don’t really think that’s how auditors work.
:rolleyes:

[The 90+2]

I don’t really think that’s how auditors work.
:rolleyes:

It did for the hun and hearts for years.

[GloryGlory]

She won't be named, but its fairly obvious.

Last year included a cup winning bonus, which was transferred to a pension scheme, good luck to her.

:agree: "Highest Paid Director" - which director gets paid more than the CEO?

[FilipinoHibs]

Accounts are to 30 Jun and should show: SJM transfer fee plus money from being promoted; European money; and wages including any compensation paid out to Lennon (last year's wages could be compared against this year's for a rough estimate).

[Spudster]

Accounts are to 30 Jun and should show: SJM transfer fee plus money from being promoted; European money; and wages including any compensation paid out to Lennon (last year's wages could be compared against this year's for a rough estimate).
Would the year before not have stokes payoff on them too?

[Onceinawhile]

I don’t really think that’s how auditors work.
:rolleyes:

Of course it is. Adjustments for accruals etc... The hibs board and the auditors will work to make sure the accounts are presented in the most positive way possible, without being too detached from reality so that the auditors still have their credibility.

I'm over simplifying it somewhat, but of course that's the case.

[danhibees1875]

McGinn was sold in August 2018 so any fee will be in the accounts to 30 June 2019 which should be released soon. .

The numbers are all added together and presented in a way that means without being able to see Hibs' trial balance and ledgers it probably won't be easy to get an exact figure.

Any promotion clause will also be in these accounts as it occured on 28th May. There's a chance if he hadn't received the cash by 30 June for this (not sure how quickly AV would have been obligated to pay) then it could be more noticeable within the debtors note (although there's enough fluctuations in there it would be hard to isolate I would imagine). Similarly, a spike in creditors could have indicated the same money waiting to be paid to St Mirren and put that mystery to bed - but again I think would be hard to pinpoint.

Overall, I'd expect fairly healthy numbers which ultimately don't answer any of the real questions the fans are interested to know (mostly around McGinn).

I'd also not worry about the auditors fudging the numbers too much. :greengrin

[CentreLine]

McGinn was sold in August 2018 so any fee will be in the accounts to 30 June 2019 which should be released soon. .

The numbers are all added together and presented in a way that means without being able to see Hibs' trial balance and ledgers it probably won't be easy to get an exact figure.

Any promotion clause will also be in these accounts as it occured on 28th May. There's a chance if he hadn't received the cash by 30 June for this (not sure how quickly AV would have been obligated to pay) then it could be more noticeable within the debtors note (although there's enough fluctuations in there it would be hard to isolate I would imagine). Similarly, a spike in creditors could have indicated the same money waiting to be paid to St Mirren and put that mystery to bed - but again I think would be hard to pinpoint.

Overall, I'd expect fairly healthy numbers which ultimately don't answer any of the real questions the fans are interested to know (mostly around McGinn).

I'd also not worry about the auditors fudging the numbers too much. :greengrin

I guess that’s the beauty of the agm where clever people like Cropley Was God, Banchory Hibs and suchlike can ask questions and make comments. Love the agm and always come away with a positive feel

[Gloucester Hibs]

McGinn was sold in August 2018 so any fee will be in the accounts to 30 June 2019 which should be released soon. .

The numbers are all added together and presented in a way that means without being able to see Hibs' trial balance and ledgers it probably won't be easy to get an exact figure.

Any promotion clause will also be in these accounts as it occured on 28th May. There's a chance if he hadn't received the cash by 30 June for this (not sure how quickly AV would have been obligated to pay) then it could be more noticeable within the debtors note (although there's enough fluctuations in there it would be hard to isolate I would imagine). Similarly, a spike in creditors could have indicated the same money waiting to be paid to St Mirren and put that mystery to bed - but again I think would be hard to pinpoint.

Overall, I'd expect fairly healthy numbers which ultimately don't answer any of the real questions the fans are interested to know (mostly around McGinn).

I'd also not worry about the auditors fudging the numbers too much. :greengrin

Thanks for a decent explanation of what we may (or may not!) be able to glean from the published accounts with regards the SJM trasnfer :aok:

[Peevemor]

I wonder if Ron will use the AGM to present any plans/projects he's putting in place for the immediate future?

[Brightside]

I wonder if Ron will use the AGM to present any plans/projects he's putting in place for the immediate future?

Id say there is strong chance of that unless its been delayed again.

[ancient hibee]

:agree: "Highest Paid Director" - which director gets paid more than the CEO?

Maybe in next year’s accounts the executive chairman?:greengrin

As a side issue in many companies the CEO isn’t necessarily a director.

[Last Minute]

I wonder if the Catering will be brought up? I know in America its a big factor of the Match day experience .:offski:

[brog]

McGinn was sold in August 2018 so any fee will be in the accounts to 30 June 2019 which should be released soon. .

The numbers are all added together and presented in a way that means without being able to see Hibs' trial balance and ledgers it probably won't be easy to get an exact figure.

Any promotion clause will also be in these accounts as it occured on 28th May. There's a chance if he hadn't received the cash by 30 June for this (not sure how quickly AV would have been obligated to pay) then it could be more noticeable within the debtors note (although there's enough fluctuations in there it would be hard to isolate I would imagine). Similarly, a spike in creditors could have indicated the same money waiting to be paid to St Mirren and put that mystery to bed - but again I think would be hard to pinpoint.

Overall, I'd expect fairly healthy numbers which ultimately don't answer any of the real questions the fans are interested to know (mostly around McGinn).

I'd also not worry about the auditors fudging the numbers too much. :greengrin

Pretty decent summary. I don't think there's any chance the SJM promo money will be included as income, probably as you say included within debtors. I posted months ago i expected turnover of about £11m & I stand by that. I also expect to see a big rise in wages, continuing the trend of recent years. Should be interesting.

[danhibees1875]

Pretty decent summary. I don't think there's any chance the SJM promo money will be included as income, probably as you say included within debtors. I posted months ago i expected turnover of about £11m & I stand by that. I also expect to see a big rise in wages, continuing the trend of recent years. Should be interesting.

It would be within both.

It'll either be within income and debtors, or income and cash, depending on whether we received the money by 30 June.

It would just be more identifiable (I think) within debtors. I can't remember how Hibs split out their turnover and debtors lines now but I think debtors is broken down a bit more and so we'd see a larger move. Neither will give an accurate idea of the amount though unfortunately.

I'd agree that wages will be up. Can't remember how it's split out but I think that will be the case for playing and non-playing staff.

[Billy Whizz]

Pretty decent summary. I don't think there's any chance the SJM promo money will be included as income, probably as you say included within debtors. I posted months ago i expected turnover of about £11m & I stand by that. I also expect to see a big rise in wages, continuing the trend of recent years. Should be interesting.

Brog, would I be right in presuming, Revenue up, Profit up, Wages up
Should that not equal performance in the field up too?

[brog]

Brog, would I be right in presuming, Revenue up, Profit up, Wages up
Should that not equal performance in the field up too?

Revenue & wages definitely up. Profit not necessarily. There's definitely a correlation between expenditure & success, EPL is perfect example, but our increases are modest & not game changers as was case when Chelsea & Man C for example were bought over. Based on turnover in our league however we should always be looking at a top 6 finish & targeting top 3.

[Scotty Leither]

I wonder if Ron will use the AGM to present any plans/projects he's putting in place for the immediate future?

Will he even be there?

[hibby6270]

I wonder if the Catering will be brought up? I know in America its a big factor of the Match day experience .:offski:

:greengrin:greengrin
As long as the ‘catering’ on the night of the AGM is up to the usual high standard, I don’t care!!
Gives you something to look forward to at ER at least once a year. :wink:

[DarlingtonHibee]

:greengrin:greengrin
As long as the ‘catering’ on the night of the AGM is up to the usual high standard, I don’t care!!
Gives you something to look forward to at ER at least once a year. :wink:

Agreed the pies are brilliant 😂

[DarlingtonHibee]

Will he even be there?

No inside information, but think he will be.

[Peevemor]

Will he even be there?It'd be very unusual for the Chairman of any board to miss an AGM.

[Ringothedog]

Will he even be there?

Why not, it’s his football club that he has just bought

[FilipinoHibs]

Would the year before not have stokes payoff on them too?

Yes but buried in the wages. Think he could have had his contract terminated for grievous misconduct. So dont think will be much.

[FilipinoHibs]

I guess that’s the beauty of the agm where clever people like Cropley Was God, Banchory Hibs and suchlike can ask questions and make comments. Love the agm and always come away with a positive feel

Think Cropley was God was involved in the takeover so we won't be getting his penetrating questions.

[Dmas]

Think Cropley was God was involved in the takeover so we won't be getting his penetrating questions.

Has Cropley stopped posting here?

[DarlingtonHibee]

Think Cropley was God was involved in the takeover so we won't be getting his penetrating questions.

Are you sure

[superfurryhibby]

Agreed the pies are brilliant 😂

No vegan fayre though. For a club with a background of inclusivity it's most disappointing:wink:

[FilipinoHibs]

Are you sure

Yup. Reported on here when folk were wondering why he had not posted for a while. A Hibs Net fact then🙄

[DarlingtonHibee]

No vegan fayre though. For a club with a background of inclusivity it's most disappointing:wink:

Lol 😂 still great pies 🥧

[superfurryhibby]

Lol 😂 still great pies 🥧

Ah’ll take a sandwich and my wee bottle with soya milk in it.

Looking forward to hearing more about wee Ron’s vision for Hibs, by then he ‘ll surely have the masterplan worked out.

[CentreLine]

Think Cropley was God was involved in the takeover so we won't be getting his penetrating questions.

Really?! Didn’t realise that. That’s a shame as his input has always been fascinating. I’ll miss that. Maybe we’ll get a Caversham Green along or someone similar. As for me it’s all Greek until one of the smarter guys pipes up.
I think this year will be a belter though. Fully expecting the club to take the opportunity to outline the plans and vision for the future. Standing room
Only 👍🏻

[MacGruber]

I wonder if Ron will use the AGM to present any plans/projects he's putting in place for the immediate future?

Who's Ron? 🤔

[Heisenberg]

Will he even be there?

He’s back at the end of the month, would assume he’ll be in attendance.

[steelendhibs]

Can shareholders take a non shareholder along, or is it strictly shareholders?

[theonlywayisup]

Can shareholders take a non shareholder along, or is it strictly shareholders?

Shareholders only.

[CentreLine]

Can shareholders take a non shareholder along, or is it strictly shareholders?

A shareholder who is unable to attend the agm can offer their place to a non shareholder who can in turn vote on their behalf as a proxy.

[SMAXXA]

How do you get in do you get an invite or name on a list as you go in, never been to one so no idea

[hibby6270]

How do you get in do you get an invite or name on a list as you go in, never been to one so no idea

When you receive a copy of the accounts in the post, there’s an invite card to the AGM.
You just rock up to the West Stand with your card, sign in, go upstairs for a pie and coffee, then the fun begins!!:greengrin:greengrin

[SMAXXA]

When you receive a copy of the accounts in the post, there’s an invite card to the AGM.
You just rock up to the West Stand with your card, sign in, go upstairs for a pie and coffee, then the fun begins!!:greengrin:greengrin

Perfect thanks 👍

[steelendhibs]

Thanks folks. As a wee aside I had to get one of the fan reps to help me out. I changed address with the club a couple of years ago, but it seems addresses for shareholders are kept on a different database than the customer database. If you have recently changed address and notified the main contact email at the club, it may be that your address for your AGM invite and accounts is still held under the old address. The fan rep said he would try and implement a change to this going forward, but I don’t know if this would be done retrospectively or not. I only know because I didn’t get my AGM pack last year and wanted it rectified for this year. I take it the AGM date will be announced on the website as well as the AGM packs being issued?

[DarlingtonHibee]

Ridiculous that we don't have a date, we don't all live in Edinburgh.

Accounts are done, and people must have it in the diary.

[Brightside]

Ridiculous that we don't have a date, we don't all live in Edinburgh.

Accounts are done, and people must have it in the diary.

Working on the graphics for the new Hyper Dome.

[Col2]

A delay to a date isn’t a bad thing as suggests that there is more to announce and be ready for including ensuring our new owner is in attendance.

[DarlingtonHibee]

A delay to a date isn’t a bad thing as suggests that there is more to announce and be ready for including ensuring our new owner is in attendance.

It will be in his diary now.

[steelendhibs]

Do you think they are waiting for the busy festive party season so that the minimum amount of people can attend as possible due to adverse weather and other commitments?

[brianmc]

Do you think they are waiting for the busy festive party season so that the minimum amount of people can attend as possible due to adverse weather and other commitments?

Blimey! That's a bit of a stretch is it not?
Dunno how busy your social calendar is - or how accurate a long term forecast you've access to??

I imagine your proposed points would have absolutely zero impact on AGM attendance.

[Danderhall Hibs]

Do you think they are waiting for the busy festive party season so that the minimum amount of people can attend as possible due to adverse weather and other commitments?

No one ever asks a difficult question anyway. All are taken in by the free pies and then get star struck.

[danhibees1875]

Do you think they are waiting for the busy festive party season so that the minimum amount of people can attend as possible due to adverse weather and other commitments?

Doubtful.

This is the first year with the new head of finance. They maybe just have a different way of doing things/worked to a different timetable than Jamie did.

Or of course, they're still busy fudging it all with the auditors to disguise the millions of pounds of bonuses they gave themselves with the McGinn money. :panic:

[bingo70]

No one ever asks a difficult question anyway. All are taken in by the free pies and then get star struck.

No point in asking difficult questions anyway.

The club will tell us what they want us to hear in their own time. The only relevance to the AGM this year imo is the hope that there is some grand plan going to be announced before hand.

I’m starting to worry there is no plan, we just have no money and an owner that is out his depth and doesn’t have the answers we’re looking for (or is a crook but I’d like to think that’s not the case)

[superfurryhibby]

No point in asking difficult questions anyway.

The club will tell us what they want us to hear in their own time. The only relevance to the AGM this year imo is the hope that there is some grand plan going to be announced before hand.

I’m starting to worry there is no plan, we just have no money and an owner that is out his depth and doesn’t have the answers we’re looking for (or is a crook but I’d like to think that’s not the case)

You’re perhaps letting your fears get the better of you a wee bit.

So, sack the manager, the chief executive and the new owner, excellent.

[B.H.F.C]

No point in asking difficult questions anyway.

The club will tell us what they want us to hear in their own time. The only relevance to the AGM this year imo is the hope that there is some grand plan going to be announced before hand.

I’m starting to worry there is no plan, we just have no money and an owner that is out his depth and doesn’t have the answers we’re looking for (or is a crook but I’d like to think that’s not the case)

I’m not holding out any hope of some grand plan being announced at the AGM. I think Heckingbottom will be away by then, to take a bit of heat off them. We might pick up a couple of results between now and then, but nothing significant, so he’ll go.

I was saying at the weekend that Gordon hasn’t bought us to just do nothing. But really, nobody really knows what his motives were. I’m starting to feel a bit concerned by it.

[bingo70]

You’re perhaps letting your fears get the better of you a wee bit.

So, sack the manager, the chief executive and the new owner, excellent.

Don’t think the owner can be sacked can he?

Sack the manager? Yes.

Sack the chief executive? Don’t care really.

[superfurryhibby]

Don’t think the owner can be sacked can he?

Sack the manager? Yes.

Sack the chief executive? Don’t care really.

Why would you think our new owner is out of his depth or consider the possibility he ‘s a crook?

[The 90+2]

Why would you think our new owner is out of his depth or consider the possibility he ‘s a crook?

It’s done before in football? Nobody has a clue at all about why he’s bought the club or what his intentions are, good or bad. It would be really encouraging to know in the near future.

[bingo70]

Why would you think our new owner is out of his depth or consider the possibility he ‘s a crook?

Just because of the lack of action and communication of any note.

I’ve not written him off yet but the longer this goes on the more concerned I’m getting that something isn’t right.

It’s maybe irrational, it’s just a wee concern.

[GloryGlory]

A delay to a date isn’t a bad thing as suggests that there is more to announce and be ready for including ensuring our new owner is in attendance.

Hopefully along with a new manager. :greengrin

[Onceinawhile]

Hopefully along with a new manager. :greengrin

We might be back to the good old AGM days where we would sack the manager in the week of the AGM.

So maybe waiting to see how we get on in the next 3 games before announcing it, so we know when to sack him.:agree:

[speedy_gonzales]

Now we have a manager in, are we any closer to naming a date for this years AGM?

[Power]

Now we have a manager in, are we any closer to naming a date for this years AGM?

Likely to be January - no definite date at the moment.

[speedy_gonzales]

Likely to be January - no definite date at the moment.
Thanks for the prompt reply Kieran!

[Power]

Thanks for the prompt reply Kieran!

Nae bother. If I get something concrete (absolute concrete to support those with travel) I’ll share.

[ano hibby]

That’s good if it’s in Jan as i think that’s when Ron is releasing his strategic review (or whatever he’s calling it). I was concerned the AGM would be pre Xmas & a damp squib with no appearance or content from Ron. Obviously the new manager will be there too so should be a good event this time....as long as we don’t get beaten by Alloa a few days before 🙈

[DarlingtonHibee]

Nae bother. If I get something concrete (absolute concrete to support those with travel) I’ll share.

Cheers!

[hibbydad]

Legally a company has 18 months after the end of it's financial year to hold it's agm

[bigwheel]

Legally a company has 18 months after the end of it's financial year to hold it's agm

Don’t think AGMs are mandatory for non listed companies.....


Sent from my iPad using Tapatalk

[hibbydad]

I was vice chair of a private company and my understanding was we were required to hold an agm under the conditions previously stated

[bigwheel]

I was vice chair of a private company and my understanding was we were required to hold an agm under the conditions previously stated

Changed in 2007 iirc.....

[hibbydad]

Ok Big Wheel it was after 2007 when I became involved

[bigwheel]

Ok Big Wheel it was after 2007 when I became involved

Cool. Not sure it’s mandated anymore..but it is accepted practice for any companies that have diverse sets of shareholders...

[Jamesie]

Changed in 2007 iirc.....

That's my understanding too