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FORUMS > Hull FC > Can't believe I missed this - FC's Accounts to October 2008
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Filed on 27th June with Companies House - caught me out as they weren't due to be filed until the end of the month. icon_wink.gif

Profit for the year: £185,190 (Will take into account Challenge Cup run, 14,000 shirts sold, less the Thackraygate fine)

Level of debt therefore reduces again, from £1.7m last year to £1.4m

Our total net worth (excluding player valuations) is now -£184k compared to -£1,166k 5 years previously, so basically the finances have improved by £1m over 5 years. Good work.

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the original sandy, no aussie imitation!:



maybe its just me being a bit thick here, but if you've made £185,190 in profit how have you shaved off £300,000 off the debt? icon_confused.gif

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Quote: sandy "maybe its just me being a bit thick here, but if you've made £185,190 in profit how have you shaved off £300,000 off the debt?

from the beginning of each financial year. thats how the profit is worked out, then take that off the overall debt

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Quote: sandy "maybe its just me being a bit thick here, but if you've made £185,190 in profit how have you shaved off £300,000 off the debt?
Other balance sheet item movements (cash, debtors etc).

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Quote: sandy "maybe its just me being a bit thick here, but if you've made £185,190 in profit how have you shaved off £300,000 off the debt?
By paying back the nice directors who had loaned us the money at no gain to themselves

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the original sandy, no aussie imitation!:



Quote: Mrs Barista "Other balance sheet item movements (cash, debtors etc).'"


thankyou, I think that clears it up! icon_confused.gif

(a pointer for Mr No6, £1,700,000 - £185,000 does not equal £ 1,400,000 )

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Quote: Rules Media Circus "By paying back the nice directors who had loaned us the money at no gain to themselves'"


They do deserve a bonus based on financial performance - the only team to make a profit in 2008, according to Neil Hudgell anyway. I suggest they get a bonus based on our league position, might be a good incentive. icon_lol.gif

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Quote: Mrs Barista "Filed on 27th June with Companies House - caught me out as they weren't due to be filed until the end of the month.
its a good performance

but it does however show that a dip in crowds after a continued poor spell would hurt the finances.

to put it in very crude terms, £185k is 8,043 people paying the £23 maximum ticket price to go to games, or 670 people a home game. A dip in pass sales and crowds would cause them concern IMO.

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Quote: Mrs Barista "Filed on 27th June with Companies House - caught me out as they weren't due to be filed until the end of the month.
Cheers Mrs B. I'll take any good news at present.

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The profit and debt figures aren't really linked. Debt is a balance sheet item, and profit comes from the P&L.

The bank account (cash) is on the balance sheet, so paying off the directors loan (which is also on the balance sheet) wont effect the profit in any way.

Fantastic figures non the less. Is that the forth straight profit year?

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[url=http://www.bbc.co.uk/sport/0/rugby-league/14252202:io879g1y]2005 Challenge Cup[/url:io879g1y] To reconcile respect with practicality, what is the optimum speed for a hearse?:d7dc4b20b2c2dd7b76ac6eac29d5604e_7384.png



Obsessed! icon_wink.gif

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This is Poorhouse Lane. And this is Neil, the rovers supporter who leads an exciting double life. For when Neil sponsors RLFANS an amazing transformation occurs. [color=#80BF40:1y1okols]Neil is Cabbageman[/color:1y1okols]. Ever alert for the call no injury too small! [url:1y1okols]http://www.urbandictionary.com/define.php?term=Cabbage%20Man[/url:1y1okols]:d7dc4b20b2c2dd7b76ac6eac29d5604e_19862.jpg



Quote: UllFC "its a good performance

but it does however show that a dip in crowds after a continued poor spell would hurt the finances.

to put it in very crude terms, £185k is 8,043 people paying the £23 maximum ticket price to go to games, or 670 people a home game. A dip in pass sales and crowds would cause them concern IMO.'"


When we reach the threshold for our peppercorn rent though we only recieve half of this money so that would suggest the crowd figures would have to drop by double (1340 a home game paying full price tickets to have that effect) still not inconcievable though as you say and would be a worry if we continue to stuggle in the cup and not reaching the playoffs.We may be forced with developing a club fc 2011 though if this happens

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Quote: Forever FC "When we reach the threshold for our peppercorn rent though we only recieve half of this money so that would suggest the crowd figures would have to drop by double (1340 a home game paying full price tickets to have that effect) still not inconcievable though as you say and would be a worry if we continue to stuggle in the cup and not reaching the playoffs.We may be forced with developing a club fc 2011 though if this happens'"


I forgot about the KC deal, but as I say i did a very crude calculation. And I don't think its inconceivable we will lose 1340 people for next season, even the people who usually stick up for the club in everything they do are really mad at the moment.

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Quote: UllFC "I forgot about the KC deal, but as I say i did a very crude calculation. And I don't think its inconceivable we will lose 1340 people for next season, even the people who usually stick up for the club in everything they do are really mad at the moment.'"

Highlighted the key words for you.

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60 posts in 5 pages 
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Subscribe | Moderators: Admin, Kosh , Roland_R , Karen
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