| FORUMS > Hull FC > Hull Post another Profit! |
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| Player Coach | 1062 | |
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| Quote: Standee "I don't agree, with the Westerman and Tansey signings both coming out of those figures and Tansey's "value" missing from the assets I think it was a good result to post a £30k profit, I expect similar for thsi season, if not a little more.
It is concerning that we're making such a low profit though, from a business (not sport) perspective.'"
With transfer fees not being a traditional expenditure in rugby league, I'd say that 30k + Westerman's fee, is a fairly respectable profit,
What is our turnover? |
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I think the only reason for showing the players as intangible assets is from a company valuation. It would be difficult to value a company above £3m with fixed assets of £400k only turning over a £30k profit. There would be some small added value for goodwill but thats about it.
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| Apr 2003 | 22 years | |
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| Quote: salthouse red "I think the only reason for showing the players as intangible assets is from a company valuation. It would be difficult to value a company above £3m with fixed assets of £400k only turning over a £30k profit. There would be some small added value for goodwill but thats about it.'"
you copy and pasting the HDM comments page?
how clever |
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| Rank | Posts | Team |
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| Quote: OmneFC "With transfer fees not being a traditional expenditure in rugby league, I'd say that 30k + Westerman's fee, is a fairly respectable profit,
What is our turnover?'"
don't know, have requested full account from Companies House, should know details later in the week, but I'd imagine t/o must be around £2-2.5m, would have to be around there. |
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Surely if the players are capitalised then the transfer fees wouldn't be in the P&L anyway?
(Where's that accountant when you need her?)
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| Quote: Standee "I don't agree, with the Westerman and Tansey signings both coming out of those figures and Tansey's "value" missing from the assets I think it was a good result to post a £30k profit, I expect similar for thsi season, if not a little more.
It is concerning that we're making such a low profit though, from a business (not sport) perspective.'"
Westerman's signing didn't come out of those figures, that will be in the next set of accounts |
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| International Board Member | 37503 | |
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| Apr 2003 | 22 years | |
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| Quote: Jake the Peg "Surely if the players are capitalised then the transfer fees wouldn't be in the P&L anyway?
(Where's that accountant when you need her?)'"
the player value is capitalised, but the cosy of acquisition is a P&L number as far as I know. |
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| International Board Member | 37503 | |
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| Quote: cod'ead "Westerman's signing didn't come out of those figures, that will be in the next set of accounts'"
apologies, it was Turner and Tansey.
I have to say, from the three we've bought, Turner, Tansey and Westerman, I haven't seen any reason why we bothered. Westerman's defence yesterday was shocking in parts. |
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| Jan 2003 | 22 years | |
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| Quote: Standee "don't know, have requested full account from Companies House, should know details later in the week, but I'd imagine t/o must be around £2-2.5m, would have to be around there.'"
Id say nearly double that !!! would suprise me to be nearer 4m
We do 1m in merchandise (sure thats been reported), then you take gate recipts and passes (2m?)
Thats before sponsorships and the like |
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| Rank | Posts | Team |
| International Board Member | 37503 | |
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| Apr 2003 | 22 years | |
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| Quote: Hutchie "Id say nearly double that !!! would suprise me to be nearer 4m
We do 1m in merchandise (sure thats been reported), then you take gate recipts and passes (2m?)
Thats before sponsorships and the like'"
then we're paying way over the odds for some backroom staff Hutchie. |
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| Rank | Posts | Team |
| Player Coach | 30348 | |
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| Mar 2007 | 18 years | |
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| Quote: Standee "the player value is capitalised, but the cosy of acquisition is a P&L number as far as I know.'"
I would have thought that the cost of the player would be depreciated over the term of his contract but I'm not an accountant. I know if I shell out 10 grand for a piece of machinery I don't show the 10 grand in my P&L that year |
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| Rank | Posts | Team |
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| Quote: Hutchie "Id say nearly double that !!! would suprise me to be nearer 4m
We do 1m in merchandise (sure thats been reported), then you take gate recipts and passes (2m?)
Thats before sponsorships and the like'"
Wasn't one of the last licence application points for T/O > £4m? We got taht and it has been reported to be around £5m. I'm guessing they could still show a profit if we saw a significant drop in income |
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great news wether its 1k or 30k its still a great posistion to be in atm i would expect a bit lower for next season but lets see what happens from til end of season hopefully a home draw in the cup
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Agreed and far more preferable than a several hundred thousand pound loss.
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| Quote: arliebird "great news wether its 1k or 30k profit its still a great posistion to be in atm i would expect a bit lower for next season but lets see what happens from now til end of season hopefully a home draw in the cup'" |
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