Official Site: AGM DATE CONFIRMED

**FilipinoHibs** · 12-02-2020 05:04 PM

Originally Posted by Caversham Green

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Re this and a couple of others, the £500k payments were purely a balance sheet entry and didn't affect profits - if we had exactly the same trading results this year we'd still show a £750k operating loss, but we would have an extra £500k to spend.

I hope Ron's point about making profits is about growth - i.e. making a profit this year gives you more to spend next year, which should produce greater profits and give us more to spend in the year after next and so on. It's really down to good management and spending wisely.

£500k of our income was going to pay the mortgage. If we had exactly the same trading in 2020 and no player transfers revenue, the operating loss would be £250k.

***overdrive*** · 12-02-2020 05:16 PM

Originally Posted by FilipinoHibs

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£500k of our income was going to pay the mortgage. If we had exactly the same trading in 2020 and no player transfers revenue, the operating loss would be £250k.

The entire £500k was capital repayments though (no interest) which doesn’t hit the P&L hence no impact on profit.

***CapitalGreen*** · 12-02-2020 05:26 PM

Originally Posted by FilipinoHibs

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£500k of our income was going to pay the mortgage. If we had exactly the same trading in 2020 and no player transfers revenue, the operating loss would be £250k.

Really please stop telling qualified accountants how to do accountancy.

**ancient hibee** · 12-02-2020 05:28 PM

Originally Posted by CapitalGreen

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Really please stop telling qualified accountants how to do accountancy.

Accountants ken the difference between cash and profit

***Keith_M*** · 12-02-2020 05:31 PM

Originally Posted by Hibbyradge

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They do and it's one of the most relaxing, soporific noises in the world.

I shall look up that word and it better not be rude!

**cocteautwin** · 12-02-2020 05:54 PM

Is that £5.5m in the bank the number after we’ve received the £2.8m cash from player sales and the £1.25m injection from RG?

Sorry, I don’t have a copy of the accounts, but it would be quite worrying if we spent the £2.8m player sales cash during the 17/18 season and have not a lot to show for it.

I assume the £5.5m balance at year end is mostly advance season ticket sales and Ron’s £1.25m?

**FilipinoHibs** · 12-02-2020 05:57 PM

Originally Posted by CapitalGreen

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Really please stop telling qualified accountants how to do accountancy.

So are you trying to tell me if we did not have to make the £500k mortgage payment we we would still have had an operating loss of £750k?

**cocteautwin** · 12-02-2020 06:00 PM

Originally Posted by FilipinoHibs

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So are you trying to tell me if we did not have to make the £500k mortgage payment we we would still have had an operating loss of £750k?

Yes :-)

**~~Speedway~~** · 12-02-2020 06:01 PM

Originally Posted by FilipinoHibs

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£500k of our income was going to pay the mortgage. If we had exactly the same trading in 2020 and no player transfers revenue, the operating loss would be £250k.

I know how that looks to be the case in simple mathematics but that’s not the case from an accounting standpoint.

***CapitalGreen*** · 12-02-2020 06:01 PM

Originally Posted by filipinohibs

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so are you trying to tell me if we did not have to make the £500k mortgage payment we we would still have had an operating loss of £750k?

yes

***danhibees1875*** · 12-02-2020 06:08 PM

Originally Posted by cocteautwin

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Is that £5.5m in the bank the number after we’ve received the £2.8m cash from player sales and the £1.25m injection from RG?

Sorry, I don’t have a copy of the accounts, but it would be quite worrying if we spent the £2.8m player sales cash during the 17/18 season and have not a lot to show for it.

I assume the £5.5m balance at year end is mostly advance season ticket sales and Ron’s £1.25m?

I don't have the accounts or timings to hand, but I would suspect the £1.25M from Ron was after the accounting period just reported.

The £2.8M is more likely. But if that includes the promotion bonus then there's a chance that's sitting in debtors rather than cash given the year end wasn't long after they were promoted.

**FilipinoHibs** · 12-02-2020 06:09 PM

Originally Posted by CapitalGreen

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yes

The mortgage was a capital only repayment with no interest charges. Only interest payments and taxes are excluded from the operating profit.

**cocteautwin** · 12-02-2020 06:13 PM

Originally Posted by danhibees1875

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I don't have the accounts or timings to hand, but I would suspect the £1.25M from Ron was after the accounting period just reported.

The £2.8M is more likely. But if that includes the promotion bonus then there's a chance that's sitting in debtors rather than cash given the year end wasn't long after they were promoted.

Actually, somebody said above that player costs had risen by £1m and other costs by £1.4m so it looks like the SJM money has been spent on not an awful lot. Ouch.

***overdrive*** · 12-02-2020 06:13 PM

Originally Posted by FilipinoHibs

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The mortgage was a capital only repayment with no interest charges. Only interest payments and taxes are excluded from the operating profit.

Interest would appear in the P&L and therefore have the effect of reducing profit (but there is no interest on the debt in question). Repayments of the outstanding debt are a balance sheet item and reduce cash and creditors.

**04Sauzee** · 12-02-2020 06:20 PM

All you need to know here

https://www.hmfckickback.co.uk/index...rofit-or-loss/

***CapitalGreen*** · 12-02-2020 06:22 PM

Originally Posted by FilipinoHibs

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The mortgage was a capital only repayment with no interest charges. Only interest payments and taxes are excluded from the operating profit.

You’ve got that back to front.

***Greencore*** · 12-02-2020 06:24 PM

Originally Posted by 04Sauzee

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All you need to know here

https://www.hmfckickback.co.uk/index...rofit-or-loss/

Scary.

**eezyrider** · 12-02-2020 06:25 PM

I've moved house - How do I change my registered address?

EZ

***DarlingtonHibee*** · 12-02-2020 06:32 PM

Originally Posted by eezyrider

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I've moved house - do I change me registered address?

EZ

Yes, phone the club, I did it last year, no problem

**eezyrider** · 12-02-2020 06:38 PM

Thanks

EZ

***Brightside*** · 13-02-2020 08:01 AM

I notice we are advertising for a new Sales and Advertising Manager? I assume this is replacing a current employee?

**steelendhibs** · 13-02-2020 08:08 AM

Are there other shareholders who still haven’t had theirs through the post yet?

***Caversham Green*** · 13-02-2020 08:12 AM

Originally Posted by CapitalGreen

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You’ve got that back to front.

Not quite, corporation tax and interest (both receivable and payable) are listed below operating profit in the P&L.

However, loan repayments do not touch the P&L at all, therefore their absence will have no effect on the profit/loss figure.

***Hibbyradge*** · 13-02-2020 08:15 AM

Originally Posted by steelendhibs

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Are there other shareholders who still haven’t had theirs through the post yet?

Me, but today's post hasn't arrived yet.

**FilipinoHibs** · 13-02-2020 08:17 AM

Originally Posted by CapitalGreen

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You’ve got that back to front.

Here we go

https://www.investopedia.com/terms/o...ing_profit.asp

***Keith_M*** · 13-02-2020 08:18 AM

Originally Posted by Hibbyradge

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Me, but today's post hasn't arrived yet.

Are you standing behind the door, waiting on the postie?

**franks** · 13-02-2020 08:20 AM

Originally Posted by steelendhibs

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Are there other shareholders who still haven’t had theirs through the post yet?

Not received mine yet, hopefully today.

***CapitalGreen*** · 13-02-2020 08:24 AM

Originally Posted by FilipinoHibs

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Here we go

https://www.investopedia.com/terms/o...ing_profit.asp

From your link

“the calculation does not account for any debt obligations that must be met. This holds true, even if those obligations are directly tied to the company’s ability to maintain normal business operations.”