Official Site: AGM DATE CONFIRMED

[Hibbyradge]

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

Sort of.

I can see the path to my front door from where I'm sitting. I'll be up like a shot at any sign of fluorescence!

It's actually the QF date that I'm desperate to know. It will dictate my movements that week.

[FilipinoHibs]

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In the paragraph entitled 'Exclusions from the operating profit calculation':



I'll go through the mechanics if I have to but it won't be pretty.

Edit: the other CG beat me to it.

Could you explain if the operating profit excludes the annual capital mortgage of £500k per annum which would have run for 9 years, the operating profit is a loss of £275,000 but the pre-tax profit is £2 million accounted from player sales of £2.75 million. If the capital mortgage had been accounted for at this point then the pre-tax profit would be £1.5 million. Given that these capital mortgage repayments being made over 9 years, they could be considered part of the normal business operations and would be included in the operating profits. Happy to be proved wrong.

[CapitalGreen]

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Could you explain if the operating profit excludes the annual capital mortgage of £500k per annum which would have run for 9 years, the operating profit is a loss of £275,000 but the pre-tax profit is £2 million accounted from player sales of £2.75 million. If the capital mortgage had been accounted for at this point then the pre-tax profit would be £1.5 million. Given that these capital mortgage repayments being made over 9 years, they could be considered part of the normal business operations and would be included in the operating profits. Happy to be proved wrong.

The previous years accounts are available on companies house, have a look at them and see if the capital repayments on the mortgage are included in the P&L.

[steelendhibs]

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

Thanks. Had address issues last couple of years and hadn’t received them so just making sure.

[Caversham Green]

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Could you explain if the operating profit excludes the annual capital mortgage of £500k per annum which would have run for 9 years, the operating profit is a loss of £275,000 but the pre-tax profit is £2 million accounted from player sales of £2.75 million. If the capital mortgage had been accounted for at this point then the pre-tax profit would be £1.5 million. Given that these capital mortgage repayments being made over 9 years, they could be considered part of the normal business operations and would be included in the operating profits. Happy to be proved wrong.

OK, you asked for it.

Look at any balance sheet with a positive bank balance and loan debt included - Hibs 2018 accounts will do fine.

The balance sheet is in two main sections described by experts as "The Top" and "The Bottom". The top consists of assets minus liabilities (A-L) while the bottom includes share capital and accumulated profits/losses including that for the year being reported (the profit and loss account). Through the witchcraft of double-entry bookkeeping the bottom line of the top is the same figure as the bottom line of the bottom - hence the name 'Balance Sheet'.

Now, the cash at bank figure is an asset and the loan figure is a liability. Partial or full repayment of the loan will reduce the bank figure and will also reduce the loan figure by the same amount and since they are on different sides of the A-L sum the end result remains the same. The P&L is not affected since any movement on it would result in a Balance Sheet that didn't balance.

The simple bookkeeping entry is debit loans/credit bank - both are balance sheet accounts.

[FilipinoHibs]

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OK, you asked for it.

Look at any balance sheet with a positive bank balance and loan debt included - Hibs 2018 accounts will do fine.

The balance sheet is in two main sections described by experts as "The Top" and "The Bottom". The top consists of assets minus liabilities (A-L) while the bottom includes share capital and accumulated profits/losses including that for the year being reported (the profit and loss account). Through the witchcraft of double-entry bookkeeping the bottom line of the top is the same figure as the bottom line of the bottom - hence the name 'Balance Sheet'.

Now, the cash at bank figure is an asset and the loan figure is a liability. Partial or full repayment of the loan will reduce the bank figure and will also reduce the loan figure by the same amount and since they are on different sides of the A-L sum the end result remains the same. The P&L is not affected since any movement on it would result in a Balance Sheet that didn't balance.

The simple bookkeeping entry is debit loans/credit bank - both are balance sheet accounts.

Thanks I will download the statement and work my way through the calculations. Always wanted a deeper understanding of accountancy😳.

[DarlingtonHibee]

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

Speedway, take your word for it, I thought I was a fairly intelligent person but not in the mystery world of accountants lol 😂

[Hibbyradge]

Fluorescent chap arrived bearing letters and what I assume to be birthday cards and a box with my name on which looks suspiciously like a bottle of something nice, but no AGM papers.

Email sent to ghaig@hibernianfc.co.uk who deals with this side of things.

[DarlingtonHibee]

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Fluorescent chap arrived bearing letters and what I assume to be birthday cards and a box with my name on which looks suspiciously like a bottle of something nice, but no AGM papers.

Email sent to ghaig@hibernianfc.co.uk who deals with this side of things.

Happy birthday mate, no accounts for me yet either

[Hibbyradge]

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Happy birthday mate, no accounts for me yet either

It's on the 18th, P.

Your lack of accounts has reassured me s bit. 😁

[Brightside]

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OK, you asked for it.

Look at any balance sheet with a positive bank balance and loan debt included - Hibs 2018 accounts will do fine.

The balance sheet is in two main sections described by experts as "The Top" and "The Bottom". The top consists of assets minus liabilities (A-L) while the bottom includes share capital and accumulated profits/losses including that for the year being reported (the profit and loss account). Through the witchcraft of double-entry bookkeeping the bottom line of the top is the same figure as the bottom line of the bottom - hence the name 'Balance Sheet'.

Now, the cash at bank figure is an asset and the loan figure is a liability. Partial or full repayment of the loan will reduce the bank figure and will also reduce the loan figure by the same amount and since they are on different sides of the A-L sum the end result remains the same. The P&L is not affected since any movement on it would result in a Balance Sheet that didn't balance.

The simple bookkeeping entry is debit loans/credit bank - both are balance sheet accounts.

This brings back nightmares of O Grade Accounting 30 years ago! I only did it as I wanted to be a Turf Accountant! Careers Advice didnt really understand the difference.

[DarlingtonHibee]

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It's on the 18th, P.

Your lack of accounts has reassured me s bit. 😁

Get you a pint at the agm lol

[banchoryhibs]

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OK, you asked for it.

Look at any balance sheet with a positive bank balance and loan debt included - Hibs 2018 accounts will do fine.

The balance sheet is in two main sections described by experts as "The Top" and "The Bottom". The top consists of assets minus liabilities (A-L) while the bottom includes share capital and accumulated profits/losses including that for the year being reported (the profit and loss account). Through the witchcraft of double-entry bookkeeping the bottom line of the top is the same figure as the bottom line of the bottom - hence the name 'Balance Sheet'.

Now, the cash at bank figure is an asset and the loan figure is a liability. Partial or full repayment of the loan will reduce the bank figure and will also reduce the loan figure by the same amount and since they are on different sides of the A-L sum the end result remains the same. The P&L is not affected since any movement on it would result in a Balance Sheet that didn't balance.

The simple bookkeeping entry is debit loans/credit bank - both are balance sheet accounts.

Love it!

I can't wait until you are asked to explain how VAT interacts with the figures ….

It might be worth mentioning that SJM's transfer was in August 2018 - near the beginning of this accounting period. I'm absolutely guessing as I'm not in the know but it could be safe to assume that some of the "excessive" expenditure that contributed to the operating loss was sanctioned with the firm knowledge that the funds were already in place to cover it. So perhaps no rash overspending!

[weecounty hibby]

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OK, you asked for it.

Look at any balance sheet with a positive bank balance and loan debt included - Hibs 2018 accounts will do fine.

The balance sheet is in two main sections described by experts as "The Top" and "The Bottom". The top consists of assets minus liabilities (A-L) while the bottom includes share capital and accumulated profits/losses including that for the year being reported (the profit and loss account). Through the witchcraft of double-entry bookkeeping the bottom line of the top is the same figure as the bottom line of the bottom - hence the name 'Balance Sheet'.

Now, the cash at bank figure is an asset and the loan figure is a liability. Partial or full repayment of the loan will reduce the bank figure and will also reduce the loan figure by the same amount and since they are on different sides of the A-L sum the end result remains the same. The P&L is not affected since any movement on it would result in a Balance Sheet that didn't balance.

The simple bookkeeping entry is debit loans/credit bank - both are balance sheet accounts.

😭😭🤯🤯 That makes for horrible reading. If someone could just let me know if we look stable or look like doing a jambo that's enough for me. I only want to know if Hibs are going to win some games of football. Thank god I stuck in at school and became an engineer!!!!

[banchoryhibs]

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�������� That makes for horrible reading. If someone could just let me know if we look stable or look like doing a jambo that's enough for me. I only want to know if Hibs are going to win some games of football. Thank god I stuck in at school and became an engineer!!!!

In my opinion we are very stable, however if we want to improve that will take more money and the club needs to explore every avenue to increase our revenues. Hopefully Ron will clearly present his vision on just this matter at the AGM.

We can't compete with Aberdeen unless we can match, or better, their income streams.

[Ozyhibby]

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I'm sure someone on sickbag has posted 'tick tock'

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[matty_f]

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Staring relegation in the face and thick as ****, could you get a more typical Duncan?

[WhileTheChief..]

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Love it!

I can't wait until you are asked to explain how VAT interacts with the figures ….

VAT gets brought up a lot on here whilst ignoring any other form of tax issues. Never really understood why.

I guess it's cause folk have heard of it whilst all the other stuff just goes over our heads.

[Hibbyradge]

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Grasp of reality, zero.

Delusion at max.

[hibbydad]

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In my opinion we are very stable, however if we want to improve that will take more money and the club needs to explore every avenue to increase our revenues. Hopefully Ron will clearly present his vision on just this matter at the AGM.

We can't compete with Aberdeen unless we can match, or better, their income streams.

You are right Banchory our commercial income is falling way behind that of Hearts and Aberdeen

[Ozyhibby]

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You are right Banchory our commercial income is falling way behind that of Hearts and Aberdeen

Yip. In most areas I would say the club is run well but the two areas I personally think we are underperforming in is the clubs commercial revenue compared with Aberdeen and Hearts and also I think our youth development appears to be failing. Since Eddie May came in we haven’t really produced any players worth selling and only really Porteous has made the step up to the first team. That’s the two things I’d be most wanting answers to at the agm.


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[weecounty hibby]

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Yip. In most areas I would say the club is run well but the two areas I personally think we are underperforming in is the clubs commercial revenue compared with Aberdeen and Hearts and also I think our youth development appears to be failing. Since Eddie May came in we haven’t really produced any players worth selling and only really Porteous has made the step up to the first team. That’s the two things I’d be most wanting answers to at the agm.


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I think the point about young players coming into the first team is a bit unfair. Murray, Shaw, Porteous, Gullan, they boy that was on loan at Dundee just off the top of my head have played 1st team for Hibs. If you use the Tarts as a yardstick they have had Cockring and a few others who were meant to be the greatest youngsters of all time. Played a few first team games and then did nothing. Th difference is they told everyone how great these kids were, remember Driver for £10m? I don't think we are much better or worse than most teams.

[Ozyhibby]

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I think the point about young players coming into the first team is a bit unfair. Murray, Shaw, Porteous, Gullan, they boy that was on loan at Dundee just off the top of my head have played 1st team for Hibs. If you use the Tarts as a yardstick they have had Cockring and a few others who were meant to be the greatest youngsters of all time. Played a few first team games and then did nothing. Th difference is they told everyone how great these kids were, remember Driver for £10m? I don't think we are much better or worse than most teams.

Only one first team regular in 6 years? I would say that is a poor return on the level of investment in the youth program.


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[steelendhibs]

Can you get parked relatively easily around the ground on AGM night?

[Barney McGrew]

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Can you get parked relatively easily around the ground on AGM night?

Yes, although I’m guessing the attendance at this one might be a good big larger than normal.

[CapitalGreen]

Anyone running a bus?

[Hibs4185]

What was the turnover figure In the accounts?

[Bobo]

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Only one first team regular in 6 years? I would say that is a poor return on the level of investment in the youth program.


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Shaw, Porteous, Murray and Mackie have 157 appearances between them so far. With the exception of Shaw the other 3 still have the opportunity to add to their totals. Gullan has only recently appeared at 1st team level and currently has 6 appearances so far which he'll hopefully also add to in the coming months. Over 160 appearances between them and counting isn't too bad.

If you include the likes of Callum Booth (46), Sam Stanton (70), Alex Harris (60), Danny Handling (65), Jordan Forster (79) and Jason Cummings (150) who all made appearances in the past 6 years, I don't think our return has been poor.

How many appearances does a player have to make before they're deemed to be a "regular"?

[my left peg]

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What was the turnover figure In the accounts?

£10.8 million....up £1.2 million on the previous year

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[MagicSwirlingShip]

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£10.8 million....up £1.2 million on the previous year

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Mad that we are still nearly £5m short of Aberdeen in turnover, £15.415m they last posted