or a £1m loan with more strings attached than an orchestra!

Yeah 4m turnover for a licence point last time. I would say our turnover is close to double that

Don't see how we could possibly be turning over anything close to £8m personally.

No chance, £5m tops, probably less now

Congratulations to the people who take flak off people on here day after day but continue to help our club post profits and in turn secure the clubs future in the long term.

On the Westerman transfer probably helping towards a loss next year, a decent draw tonight and a place in the semi finals of the CC will probably make us more than it cost to sign Westerman and should we progress further than that fee will be totally paid for.

Any transfer fee paid to acquire a player can be capitalised and amortised over the initial life of the players contract. eg, the reported £150k paid for Westerman will be allocated to the P/L over the 4 year life of the contract he is under.

So therefore, as he was signed last October and our financial year is Jan-Dec a quarter of the fee (around 35-45k) appeared in these accounts.

This is for financial year ending October 2010.

Pretty sure our financial year ends in October, which is inline with the player's contracts.

So for these accounts, there'll be nothing in the P&L for Westerman.

last posted accounts are made up to 21/10/2010, so you are right.

Fair enough, can't say I've looked.

I only looked to answer the question, not that it matters, at least it doesn't have a brand new, big, bold, underlined £100,000,000 in the creditors column eh!

That's some interest on a 'soft loan'.

"So therefore, as he was signed last October and our financial year is Jan-Dec a quarter of the fee (around 35-45k) appeared in these accounts."


I would guess that they will write it off over the "4 seasons he will play" rather than the actual contract period - which in my opinion would be the correct treatment therefore there will be no charge in the figures just reported

The accounts at companies house are small company accounts and do not show turnover (which again is quite correct) so I'm afraid someone's going to be disappointed. What is mildly interesting (well it is if you're sad like me!) is that I think they've changed auditors (haven't got last years figures to hand but I think they were audited by CBE) and I wonder if there's a reason behind this. Probably nothing more than being offered a better deal but idle speculation's far more fun than knowing the actual facts.
Final point they are still over £1,000,000 away from being able to pay a dividend so any thoughts of the shareholders using dividends to "milk" the club are wide of the mark