#allisbarry at it again - Yams accounts

[Caversham Green]

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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.

I think that's down to different accounting treatments - the BDO period will be more cash-flow based, for example it won't take into account the season ticket money that was lost before administration whereas the annual accounts will.

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

They're already out but I haven't had a chance to look at them in any detail.

http://www.heartsfc.co.uk/news/4035

[greenginger]

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I think that's down to different accounting treatments - the BDO period will be more cash-flow based, for example it won't take into account the season ticket money that was lost before administration whereas the annual accounts will.



They're already out but I haven't had a chance to look at them in any detail.

http://www.heartsfc.co.uk/news/4035

So their accounts , although technically correct, are painting a much rosier picture than their actual financial position.

Well played Vlad !

[CropleyWasGod]

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I think that's down to different accounting treatments - the BDO period will be more cash-flow based, for example it won't take into account the season ticket money that was lost before administration whereas the annual accounts will.



They're already out but I haven't had a chance to look at them in any detail.

http://www.heartsfc.co.uk/news/4035

Had a very quick look at them.... interesting Audit Report and Going Concern note.

Also interesting to note that they have included their memorabilia....

[lapsedhibee]

They really are an exemplary bunch.
http://www.bbc.co.uk/sport/0/football/30508052

[HIBERNIAN-0762]

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They really are an exemplary bunch.
http://www.bbc.co.uk/sport/0/football/30508052

Took them long enough, months ahead?

Bollox...

[greenginger]

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They really are an exemplary bunch.
http://www.bbc.co.uk/sport/0/football/30508052

And the football clubs debts , Liverpool £ 47 K, Stenny £12 K, Musselburgh £ 7 K etc

Have they been settled in full ?

[lapsedhibee]

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And the football clubs debts , Liverpool £ 47 K, Stenny £12 K, Musselburgh £ 7 K etc

Have they been settled in full ?

They're probably expecting Farmer to stump up for those, like he did for the bumped charity.

[brog]

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And the football clubs debts , Liverpool £ 47 K, Stenny £12 K, Musselburgh £ 7 K etc

Have they been settled in full ?

Good question! Given we haven't had a heart-tugging story from an extremely grateful Stenny chairman that he'd received payment no more than 3 years late, I somehow doubt it!

[grunt]

They seem to have made a profit of £26m.
Pretty good going.

The club has received £1.8m from FOH.
That really is good going.

[Benny Brazil]

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Had a very quick look at them.... interesting Audit Report and Going Concern note.

Also interesting to note that they have included their memorabilia....

I see they note they have also issued those "missing" share certificates

[CropleyWasGod]

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I see they note they have also issued those "missing" share certificates

... and the original ones will be part of that "memorabilia".

[CropleyWasGod]

Had another look over the accounts.

Although we already knew it, it's worth emphasising just how much the club is reliant on the FOH subscriptions. They are running at £120k per month, which is pretty impressive. However, the accounts are drawn up (and audited) on the basis that this level will continue until at least December 15.

The money advanced by FOH is treated as a loan. At June it stood at £1.22m; it is now at £1.8m. The money advanced by Bidco is also treated as a loan. It is standing at £2.4m. Both loans are secured, with Bidco taking precedence, over Tynecastle. The stadium is valued at £5.45m.

So... it's there, to settle the pub arguments. They are not debt-free. It's currently at £4.2m.

Other than that, there's not much in there to get excited about. They made a small trading profit in that season.

Cav will be more forensic than me, though.

[PatHead]

I am sure I heard that their turnover was also down to not having cup runs last season. (They got to the League Cup final the season before)


Just as well they have had good cup runs this season.


Oops, that part of the plan isn't sorted for next season.

[CropleyWasGod]

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I am sure I heard that their turnover was also down to not having cup runs last season. (They got to the League Cup final the season before)


Just as well they have had good cup runs this season.


Oops, that part of the plan isn't sorted for next season.

They actually said that in the accounts. "This was due to limited cup success when compared to the previous year."

Turnover was down 10%.

[PatHead]

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They actually said that in the accounts.

Turnover was down 10%.

Will Adam King's transfer inflate figures as well?

[CropleyWasGod]

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Will Adam King's transfer inflate figures as well?

That's not included in Turnover, but shown separately. £234k.

[Bostonhibby]

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Had another look over the accounts.

Although we already knew it, it's worth emphasising just how much the club is reliant on the FOH subscriptions. They are running at £120k per month, which is pretty impressive. However, the accounts are drawn up (and audited) on the basis that this level will continue until at least December 15.

The money advanced by FOH is treated as a loan. At June it stood at £1.22m; it is now at £1.8m. The money advanced by Bidco is also treated as a loan. It is standing at £2.4m. Both loans are secured, with Bidco taking precedence, over Tynecastle. The stadium is valued at £5.45m.

So... it's there, to settle the pub arguments. They are not debt-free. It's currently at £4.2m.

Other than that, there's not much in there to get excited about. They made a small trading profit in that season.

Cav will be more forensic than me, though.

Family yam said to me that since they owe it to Budge its just like owing to themselves, I waited for the laughter but none came so when I prompted a bit further by asking what the DD money was for then he said it was for paying for "better" players - he would struggle a bit with that one mind as he originally signed up for a DD but then cancelled it once they were "saved" and before a penny was actually collected.

All very yammish behaviour really.

[PatHead]

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That's not included in Turnover, but shown separately. £234k.

Sorry really meant that his transfer fee would help their overall figures for the year. Don't have that this year unless they sell someone and don't have a cup run (again) to fall back on.

If they do collapse on the pitch (and that is a big if) they could be struggling for a good while in the event of no promotion.

[Geo_1875]

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Had another look over the accounts.

Although we already knew it, it's worth emphasising just how much the club is reliant on the FOH subscriptions. They are running at £120k per month, which is pretty impressive. However, the accounts are drawn up (and audited) on the basis that this level will continue until at least December 15.

The money advanced by FOH is treated as a loan. At June it stood at £1.22m; it is now at £1.8m. The money advanced by Bidco is also treated as a loan. It is standing at £2.4m. Both loans are secured, with Bidco taking precedence, over Tynecastle. The stadium is valued at £5.45m.

So... it's there, to settle the pub arguments. They are not debt-free. It's currently at £4.2m.

Other than that, there's not much in there to get excited about. They made a small trading profit in that season.

Cav will be more forensic than me, though.

I assume this is a loan that they have no intention of repaying?

[CropleyWasGod]

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Sorry really meant that his transfer fee would help their overall figures for the year. Don't have that this year unless they sell someone and don't have a cup run (again) to fall back on.

If they do collapse on the pitch (and that is a big if) they could be struggling for a good while in the event of no promotion.

The accounts say that they have the "best young squad of footballers in the country".

And they're audited accounts.

[lapsedhibee]

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If they do collapse on the pitch

Inconceivable that a club who regularly win world wars would lead a league table for so much of the season and then somehow fail to top it.

[Geo_1875]

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The accounts say that they have the "best young squad of footballers in the country".

And they're audited accounts.

Surely that is open to legal challenge, or ridicule.

[Geo_1875]

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Inconceivable that a club who regularly win world wars would lead a league table for so much of the season and then somehow fail to top it.

Surely that would never happen.

[CropleyWasGod]

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I assume this is a loan that they have no intention of repaying?

It's not clear what will happen to that loan. I suspect that, if and when the fan-ownership kicks in, the loan will be capitalised (the old debt-for-equity swap).

In the meantime, it just accumulates, is (I think) interest-free, and ranks behind BidCo should things fall apart again.

[PatHead]

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It's not clear what will happen to that loan. I suspect that, if and when the fan-ownership kicks in, the loan will be capitalised (the old debt-for-equity swap).

In the meantime, it just accumulates, is (I think) interest-free, and ranks behind BidCo should things fall apart again.

Memory tells me it was not interest free but was at a highly competitive rate meaning the lender (AB) would get what she would have got from her bank- which is negligible at this time but would change in the event of interest rates going up. Stand to be corrected though.

[CropleyWasGod]

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Memory tells me it was not interest free but was at a highly competitive rate meaning the lender (AB) would get what she would have got from her bank- which is negligible at this time but would change in the event of interest rates going up. Stand to be corrected though.

Sorry, I was talking about the FOH loan.

I think you're right about the BidCo loan, though.

[CRAZYHIBBY]

Cant be arsed reading all this so can someone please tell me are they up **** creak or no?

[blindsummit]

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........ should things fall apart again.

And fall apart again I think they will Crops. Old habits die hard and the jambos pretensions to be the BIG club will undo them again. They will spend more money on players than they can afford to attempt to buy success. In a way they are already doing that. They have admitted that their death trap of a stadium needs either a lot of money spent on it or they need a new stadium, but have made no provision to deal with that, and are instead spending the money on a squad to win the Championship.

Once again the flaw in the Scottish system is exposed. Clubs should be forced to take care of the infrastructure, for safety and customer experience needs, and not be allowed to continually put that off in order to gain advantage over clubs who have done the right thing.

In my opinion, nothing has changed and Hearts are carrying on with their previous cheating to win sucess policies. My hope is that they will reach the point that they can no longer defer that infrastructure spending. Then they will truly be forced to live within their means.

I suspect they are counting on a compliant Edinburgh City Council, with Scottish Government support, to see them to a new free stadium. If this appears to be on the cards, I would hope that Hibs, and other clubs, would loudly cry foul.

[Oscar T Grouch]

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The accounts say that they have the "best young squad of footballers in the country".

And they're audited accounts.

The auditors should have looked at the development league table where hertz are 3rd bottom of a league of 17.

[CropleyWasGod]

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Cant be arsed reading all this so can someone please tell me are they up **** creak or no?

As long as FOH keep chucking £120k their way every month, they're fine.