The Annual Accounts must be about to be released as on the 19 February 2020 a Confirmation Statement was lodged with Company's House, which will be available within 10 days.
So look forward to an announcement soon. Good news or bad news???
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The Annual Accounts must be about to be released as on the 19 February 2020 a Confirmation Statement was lodged with Company's House, which will be available within 10 days.
So look forward to an announcement soon. Good news or bad news???
I await with baited breath the forensic accountancy analysis from oneleagueback. Only after they have checked and double checked the figures using that counting super power of their additional finger on each hand will I know what to think.
Whether our accounts are healthy or not isn’t based on the following years’ season ticket sales. We had record season ticket sales for last season and the league was cut short by only 3/4 home games. It wouldn’t have affected us too much. This season is a different story altogether.
Wonder when the alleged insurance money was paid
Except you can't ignore the fact that a large part of the following season's ST sales are included in the accounts and have been for as long as I can remember.
I was a partner in my own business at 25 years old (and still am). Please don't try to give me a lesson about accounts.
Whilst I was on the Companies House site , I had a look at Developments with our neighbours .
I see director Eric Hogg ( Mrs Budge’s Bidey - in ) has left the Hearts board.
Movement preparing for take over by FoH or just fed up with the circus. :dunno:
Has no impact on our P/L though which is all fans are interested in. If you look at a snapshot of our cash balance to determine how healthy our accounts are then fair play.
Not sure why your getting so defensive, no one is giving any lessons, just stating a fact that this years season ticket sales doesn’t impact last years top level accounts.
Did I mention profit & loss?
In years gone by the accounts were issued in time for an AG well before Christmas. With a very large part of our income being sales banked in advance, the size of the pile of cash to hand as we entered the season was a good pointer as to the nick we were in.
Balance sheets can be manipulated in any number of ways, but there's no arguing with cash in hand.
Cash is king and cash-flow is everything.
This isn't as interesting if the accounts are published toward the end of the season and obviously Covid & Ron mean that our finances are now far less predictable us outsiders.
The average punter has no idea what a healthy cash balance would look like. No one talks about how much cash a club has in the bank when the accounts come out. The first line someone will look at to determine accounts health will be P/L. Profit good, loss bad. 99% aren’t accountants therefore care very little around the inner details.
But then state that we had £xm in the bank so we should be fine through Covid, even though said cash balance was actually 9 months before and is more than likely all gone by the time the accounts are produced. Celtic produced their half season accounts and all anyone talks about is the £6m loss, nothing about their cash in the bank balance.
Yes we do. We have the conversation every season. It's also often one of the bullet points in the press statement when the accounts are released, especially when cash in hand is good.
As for profit & loss.
We've already seen Hearts declare 7 figure profits and cash in hand of £2m going into the season, whereas Hibs have barely broken even but have £5m in the bank.
I know which I'd prefer to be.
In most years, the accounts are out well before the end of the calendar year, so that fans can discuss just how well the ST cash has been spent. If you look back at previous years' discussions on here, the chat is generally more sophisticated than looking at just one number. I'd wager that would go for Celtic boards as well.
What is a healthy cash in hand balance? Also, how often do we sell more than 9000 season tickets by the end of June (cut off date for accounts so cut off date for cash in hand)? Again I don’t think this seasons ticket sales at that point has any impact on the health of last seasons accounts.