Anybody with an accounting brain able to explain the massively increased costs?

Insufficient information is given Just one figure with no analysis. I guess the new pitch is in there.

Staff numbers going from 86 to 115 must have had some contribution

G Guest wrote:Insufficient information is given Just one figure with no analysis. I guess the new pitch is in there.

You shouldn't have to guess though.

This is all getting a bit tiresome now - redacted minutes and redacted accounts.

It's like trying to get information out of MI5.

big baz wrote:Staff numbers going from 86 to 115 must have had some contribution

You'd hope that means a more professional set up then.

But 115, that must be about 30 non playing staff.

What do they all do ????

Firstly I must confess my ignorance in relation to financial accounts.
Hopefully someone can enlighten /disillusion me on my thoughts below

Disappointingly low 17/18 seasons profit of £82.680 despite reading of estimates of several 100k's

Increased turnover compared to previous season of just over £900.000, Presumably primarily due to the cup run?

Increased 'administrative costs of over £657.000? Presumably primarily due to the additional costs of playing at RP, plus additional staff? Would that figure also include the previous years loss?
Therefore an operating loss of £121,870

Profit of £216,350 on disposal of player acquisition costs. less £11,800 amortisation costs. What player/players?

It would appear that without extended FA cup runs and/or player sales we are not currently a financially sustainable club at EFL level.

We are illiquid and insolvent, and it is difficult to see that without this year’s cup run, that we are a going concern as a Trust run business.

There is a big jump in the creditor position of £240k, money due within 12 months. A number that should cause concern as under normal circumstances, with our poor liquidity, I don’t see how it can be paid when it falls due. This year’s cup success is clearly our salvation.
What is not clear however is what is behind this big number.
Could it be the additional costs imposed by the WRU that Kevin Ward referred to as being unsustainable?
Could it also give substance to some of the rumours circulating many months ago that we were in arrears with the WRU?

Finally a question about the big increase in paid staff as it states ‘including Directors’, are they now in receipt of remuneration?

Taunton Iron Cider wrote:We are illiquid and insolvent, and it is difficult to see that without this year’s cup run, that we are a going concern as a Trust run business.

There is a big jump in the creditor position of £240k, money due within 12 months. A number that should cause concern as under normal circumstances, with our poor liquidity, I don’t see how it can be paid when it falls due. This year’s cup success is clearly our salvation.
What is not clear however is what is behind this big number.
Could it be the additional costs imposed by the WRU that Kevin Ward referred to as being unsustainable?
Could it also give substance to some of the rumours circulating many months ago that we were in arrears with the WRU?

Finally a question about the big increase in paid staff as it states ‘including Directors’, are they now in receipt of remuneration?

It may be that remuneration for directors is the recovery of out of pocket expenses. Which of course would on the face of it would be appropriate.

Perhaps the board should issue a clarifying statement?

Stan A. Einstein wrote:

Taunton Iron Cider wrote:We are illiquid and insolvent, and it is difficult to see that without this year’s cup run, that we are a going concern as a Trust run business.

There is a big jump in the creditor position of £240k, money due within 12 months. A number that should cause concern as under normal circumstances, with our poor liquidity, I don’t see how it can be paid when it falls due. This year’s cup success is clearly our salvation.
What is not clear however is what is behind this big number.
Could it be the additional costs imposed by the WRU that Kevin Ward referred to as being unsustainable?
Could it also give substance to some of the rumours circulating many months ago that we were in arrears with the WRU?

Finally a question about the big increase in paid staff as it states ‘including Directors’, are they now in receipt of remuneration?

It may be that remuneration for directors is the recovery of out of pocket expenses. Which of course would on the face of it would be appropriate.

Perhaps the board should issue a clarifying statement?

Agreed they most certainly should. Not optimistic that they will however.

Lee Evans would be a big chunk of that player money.

OLDCROMWELLIAN wrote:

Stan A. Einstein wrote:

Taunton Iron Cider wrote:We are illiquid and insolvent, and it is difficult to see that without this year’s cup run, that we are a going concern as a Trust run business.

There is a big jump in the creditor position of £240k, money due within 12 months. A number that should cause concern as under normal circumstances, with our poor liquidity, I don’t see how it can be paid when it falls due. This year’s cup success is clearly our salvation.
What is not clear however is what is behind this big number.
Could it be the additional costs imposed by the WRU that Kevin Ward referred to as being unsustainable?
Could it also give substance to some of the rumours circulating many months ago that we were in arrears with the WRU?

Finally a question about the big increase in paid staff as it states ‘including Directors’, are they now in receipt of remuneration?

It may be that remuneration for directors is the recovery of out of pocket expenses. Which of course would on the face of it would be appropriate.

Perhaps the board should issue a clarifying statement?

Agreed they most certainly should. Not optimistic that they will however.

Now that the overdue accounts have been issued, the overdue AGM should be arranged. That's where such questions should be answered formally.

Taunton Iron Cider wrote:We are illiquid and insolvent, and it is difficult to see that without this year’s cup run, that we are a going concern as a Trust run business.

There is a big jump in the creditor position of £240k, money due within 12 months. A number that should cause concern as under normal circumstances, with our poor liquidity, I don’t see how it can be paid when it falls due. This year’s cup success is clearly our salvation.
What is not clear however is what is behind this big number.
Could it be the additional costs imposed by the WRU that Kevin Ward referred to as being unsustainable?
Could it also give substance to some of the rumours circulating many months ago that we were in arrears with the WRU?

Finally a question about the big increase in paid staff as it states ‘including Directors’, are they now in receipt of remuneration?

Just a guess but......

The additional expenses could be the extra costs associated with running larger events - cost of erecting seating for Spurs game etc. Also extra match day costs like additional food for hospitality, erecting TV box.

Similarly 'staff' may relate to extra security and match day staff depending on whether we did this directly or via an agency and how this is accounted for.

Likewise creditors. If the opponent in the cup run don't get their gate share paid until the end of the season (likewise I don't think we get our prize money until the end of the competition) then it would appear i think as part of the creditor amount. If this is the case it should not be a cause for concern.

All of the large sways of numbers from the previous seasons will probably be attributable to the cup run in some way.

IMB wrote: Just a guess but......

In four words you encapsulate the problem.

It's our club, we bought it, we finance it. We shouldn't have to guess.

Stan A. Einstein wrote:

Taunton Iron Cider wrote:We are illiquid and insolvent, and it is difficult to see that without this year’s cup run, that we are a going concern as a Trust run business.

There is a big jump in the creditor position of £240k, money due within 12 months. A number that should cause concern as under normal circumstances, with our poor liquidity, I don’t see how it can be paid when it falls due. This year’s cup success is clearly our salvation.
What is not clear however is what is behind this big number.
Could it be the additional costs imposed by the WRU that Kevin Ward referred to as being unsustainable?
Could it also give substance to some of the rumours circulating many months ago that we were in arrears with the WRU?

Finally a question about the big increase in paid staff as it states ‘including Directors’, are they now in receipt of remuneration?

It may be that remuneration for directors is the recovery of out of pocket expenses. Which of course would on the face of it would be appropriate.

Perhaps the board should issue a clarifying statement?

I would not class the recovery of out of pocket expenses as remuneration.