#allisbarry at it again - Yams accounts

[HibbiesandtheBaddies]

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EEN report by Bando "The accounts show more than £27 million of debt was written off as a result of the CVA. It was primarily bank debt and debt to companies owned and controlled by Romanov."

Not a mention of the £millions the Yams owed HMRC (ie you and me) that was also written off. Selective amnesia, re-writing history? Blame Johnny foreigner, it was nothing to do with us.

It was primarily bank debt and debt to companies owned and controlled by Romanov = poor destitute hard-working Lithuanian Aluminium miners cheated out of their pensions by Heart of Midlothian Football Club for a decade of cheap thrills.

What a loathsome lot. Seriously devoid of any sporting integrity and a stain on Scottish society.

[CropleyWasGod]

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So will their spending

Will it?

I'm not so sure. If their income doesn't change much, I can't see AB sanctioning a lot of additional players.

[Ronniekirk]

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Will it?

I'm not so sure. If their income doesn't change much, I can't see AB sanctioning a lot of additional players.

Given thier current position it wouldn't surprise me if they looked to capitalise while on top ,and strengthen for next year just to make sure they give themselves best chance to finish top .Not saying they will spend big but think Budge will adjust her thinking and tweak Budget and look to capitalise They will bring in a few players and maybe sign some on pre contracts .

[dangermouse]

FOH contributing 120K per month. One excellent reason why fan ownership will never work!

[greenginger]

According to BDO HOMFC total deficit at the start of Administration was .........................

£ 175,919,350.00

That included all the called up share capital.

[CropleyWasGod]

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Given thier current position it wouldn't surprise me if they looked to capitalise while on top ,and strengthen for next year just to make sure they give themselves best chance to finish top .Not saying they will spend big but think Budge will adjust her thinking and tweak Budget and look to capitalise They will bring in a few players and maybe sign some on pre contracts .

Yeah, it will be tweaking at most.

In some ways, their large take-up of ST's this season has got them to a point where there's not much wiggle-room. Income-wise, this is almost as good as it gets for them. I can't see their ST sales being much bigger next season.

Conversely, if we do go up, we have a better chance of increasing ST's and walk-ups over this season's low figures.

[blackpoolhibs]

[QUOTE=greenginger;4249825]I count 10 new players signed by the Yams last summer.[/QUOTE


I wonder if any of their fans think its their biggest rebuilding job since winning WW2?

[Bill Milne]

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Are they self -sufficient in the Yam meaning of the term ?

I know Budge said last week the would be running at a loss if it were not for FoH and their pledgers. But when could anything connected with finance coming from the PBS be taken as fact.

If Hertz are using pledge money to stay out of debt, can anyone tell me how Budge is, eventually, going to be repaid? This is, I stress, a genuine request for information as I was under the impression this money was to be used to give Budge her money back.

[CropleyWasGod]

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If Hertz are using pledge money to stay out of debt, can anyone tell me how Budge is, eventually, going to be repaid? This is, I stress, a genuine request for information as I was under the impression this money was to be used to give Budge her money back.

As I understand it, FOH were to give the club £1m at the outset for working capital, and then £1.4m per annum over the next 2 seasons ( I think including this season). That's give, not lend, not repay.

The £2.5m due to Budge will be repaid after all of that has been given.

[jdships]

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If Hertz are using pledge money to stay out of debt, can anyone tell me how Budge is, eventually, going to be repaid? This is, I stress, a genuine request for information as I was under the impression this money was to be used to give Budge her money back.

Good post
That's what I thought
Have asked this question of a few of my mates who are Jambo's and they admit either " Not sure" or " Don't Know "

[CropleyWasGod]

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[/B]

Good post
That's what I thought
Have asked this question of a few of my mates who are Jambo's and they admit either " Not sure" or " Don't Know "

Refer them to the FOH website

http://www.foundationofhearts.org/fo...-of-hearts-qa/

It's rocket salad.

[Bill Milne]

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As I understand it, FOH were to give the club £1m at the outset for working capital, and then £1.4m per annum over the next 2 seasons ( I think including this season). That's give, not lend, not repay.

The £2.5m due to Budge will be repaid after all of that has been given.

Thanks, CWG, that was useful. I regret that I don't pay a great deal of attention, well none at all actually, to anything done by the manky mob!!

[Mikey]

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I think the Big Hearts debt was missing from the final creditors list published in January 2014. Can't find a copy of it to be 100% certain.

It is, which is why I posted up the original version

[Kaff]

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I count 10 new players signed by the Yams last summer.

I think it refered to a particular weekend when 7 and 7 were the numbers but I take the point that it is 10 players.They haven't struggled on with by and large the same players, as CWG says though where is the room for growth? Pledgers have been at their limit for a while and season tickets will possibly have to be more expensive in order to gain more income.(Do that and you'll likely see a drop off in pledge money?)
A bit of momentum and we could soon surpass their nett budget if we had no debt and their stadium plans begin to eat into theit budget

[brog]

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I think the Big Hearts debt was missing from the final creditors list published in January 2014. Can't find a copy of it to be 100% certain.

It was indeed & I think you're correct about some creative accounting. Similarly, some fans of The Rangers did do collections & paid off some of the smaller creditors, famously the lady who had provided face-painting at a childrens' party. I think we can be confident that no Yam paid off either the Big Hearts bill or any smaller creditors as it would have been front page headlines in the EEN if they had. Would have made Its a Wonderful Life look like a horror story!

[Betty Boop]

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And the £ 100,000 due to our Council who are making people redundant.

Really? the council has a no redundancy policy.

[flash]

[QUOTE=blackpoolhibs;4249909]

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I count 10 new players signed by the Yams last summer.[/QUOTE


I wonder if any of their fans think its their biggest rebuilding job since winning WW2?

That's out of order. Everyone knows it was World War 1 that Hertz won.

[greenginger]

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Really? the council has a no redundancy policy.

I know its just the local rag, but .....



http://www.edinburghnews.scotsman.co...-cut-1-3584888

[CropleyWasGod]

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I know its just the local rag, but .....



http://www.edinburghnews.scotsman.co...-cut-1-3584888

EL isn't the council. It's a separate (charitable) company.

[greenginger]

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EL isn't the council. It's a separate (charitable) company.

Part funded by the Council. If fraudsters bump the Council for business rates and rent its obvious there will be less in the kitty to support the likes of Edinburgh Leisure.

[CropleyWasGod]

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Part funded by the Council. If fraudsters bump the Council for business rates and rent its obvious there will be less in the kitty to support the likes of Edinburgh Leisure.

Sure, but Betty was right about the no (compulsory)-redundancy policy.

http://www.edinburgh.gov.uk/info/201.../684/pledge_26

[greenginger]

Been trying to get my head around the figures in the Scotsman article and the figures published by BDO for the administration period.


http://www.scotsman.com/sport/footba...days-1-3635288


Admin period is 19/6/13 - 11/6/14 Turnover - £4.6 million, Wages £ 2.35m Operating loss £ 82,601

Accounts period 1/7/13 - 30/6/14 Turnover - £6.5 million, Wages £ 2.90m, Operating profit £ 896,000

I know there is an extra 3 weeks at the end of June 2014 , but increase in t/o by 2 million and increase in wages of £ 550,000.

and BDO posted a loss not a profit.

[Ozyhibby]

All the season ticket money from when they were in admin was spirited away by the pre admin regime?

[Bostonhibby]

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All the season ticket money from when they were in admin was spirited away by the pre admin regime?

Same suitcase as the share "issue" cash transactions wafted out the country just before the rest of them turned tail.

[greenginger]

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All the season ticket money from when they were in admin was spirited away by the pre admin regime?

None of these figures relate to any pre-admin period. Its all admin and post admin.

[brog]

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Been trying to get my head around the figures in the Scotsman article and the figures published by BDO for the administration period.


http://www.scotsman.com/sport/footba...days-1-3635288


Admin period is 19/6/13 - 11/6/14 Turnover - £4.6 million, Wages £ 2.35m Operating loss £ 82,601

Accounts period 1/7/13 - 30/6/14 Turnover - £6.5 million, Wages £ 2.90m, Operating profit £ 896,000

I know there is an extra 3 weeks at the end of June 2014 , but increase in t/o by 2 million and increase in wages of £ 550,000.

and BDO posted a loss not a profit.

Possibly early season ticket sales for 2014/15 & possibly paying off contracts for players released before end of their contract? I agree tho, on surface seems strange.

[Ronniekirk]

[QUOTE=blackpoolhibs;4249909]

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I count 10 new players signed by the Yams last summer.[/QUOTE


I wonder if any of their fans think its their biggest rebuilding job since winning WW2?

Your in danger of becoming EnTrench ed in that analogy

[CropleyWasGod]

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Been trying to get my head around the figures in the Scotsman article and the figures published by BDO for the administration period.


http://www.scotsman.com/sport/footba...days-1-3635288


Admin period is 19/6/13 - 11/6/14 Turnover - £4.6 million, Wages £ 2.35m Operating loss £ 82,601

Accounts period 1/7/13 - 30/6/14 Turnover - £6.5 million, Wages £ 2.90m, Operating profit £ 896,000

I know there is an extra 3 weeks at the end of June 2014 , but increase in t/o by 2 million and increase in wages of £ 550,000.

and BDO posted a loss not a profit.

The football debt included wages due to former players. That will be part of it.

[greenginger]

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The football debt included wages due to former players. That will be part of it.

Could be, I dare say their accounts will reveal a bit more. Should be out in a few days.

[hibees 7062]

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Will it?

I'm not so sure. If their income doesn't change much, I can't see AB sanctioning a lot of additional players.

It'll be demanded though