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FORUMS > Hull KR > Rovers Accounts to 30th November 2007
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Subscribe | Moderators: Admin, R.B.A , Anakin Skywalker , Mild Rover
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Quote: Gordon Gekko "The loss you are referring to should also take into account the fact that its a 15 months accounting period with the extra three months being Sept, Oct and Nov where income is virtually non existant, yet fixed costs such as salaries still have to be paid, this will clearly adversely affect the profitablilty of the company in that period.
The next accounts for a 12 month period will offer a much better indication of performance.'"


Agree to an extent, but the Sky money accrues evenly over the year and didn't rovers start to sell their 2008 shirts not long after the 2007 season?

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Quote: Vicenzo ""Due diligance" is something the accountants of Nat West, HBos,Sandfords,Lloyds TSb....etc. etc carried out over many years only to find in the end they had actually been valuing worthless bits of paper called "derivatives" etc.. Unfortunately for the world they had their noses
stuck so firmly in the corporate troughs, they failed to recognise this!
I rest my case!
So, you are blaming accountants for having to follow professional standards. Interesting icon_eek.gif

You are also comparing some of the biggest corporate organisations in the world when in reality we are discussing the poor performance of a small company.

A derivative, for the record, is hardly worthless. On the contrary the sometimes can end up costing you an absolute fortune as the likes of Mr Leeson / Mr Keivel have found out icon_wink.gif

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"Copernican Revolution":



I really cannot understand why this thread has been allowed to continue for so long.

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Quote: The Black Finger Nail "I really cannot understand why this thread has been allowed to continue for so long.'"


Why not?

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Quote: Robbo4 "Why not?'"

Do i really need to explain.

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Quote: The Black Finger Nail "Do i really need to explain.'"


Do you need to explain why you think a thread about Rovers on the Rovers forum that is largely remaining on topic and does not break any AUP should be locked?

Errr kind of yeah.

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Quote: Robbo4 "Do you need to explain why you think a thread about Rovers on the Rovers forum that is largely remaining on topic and does not break any AUP should be locked?

Errr kind of yeah.'"

Maybe it's because it was started buy a hull supporter.

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Quote: cbr1100xx "Maybe it's because it was started buy a hull supporter.'"


That would be pathetic in all honesty.

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Quote: Robbo4 "Thread of the year. FACT.
icon_lol.gif

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Quote: Mrs Barista "Yet you choose to ignore that fact that this period would include the ticket, merchandise and prize money revenue benefits from Rovers NL1 play-off promotion campaign in September and October 2006, plus a full season of SL revenue.
I could be wrong, but wouldnt these figures also include ground improvements such as the purchase of the golf stand and the upgrade of the floodlights and such things ?

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Quote: carlleo123 "I could be wrong, but wouldnt these figures also include ground improvements such as the purchase of the golf stand and the upgrade of the floodlights and such things ?'"


That type of purchase would effect the balance sheet I imagine, as they were upgrades rather than maintenance, so classed as fixed assets. It wouldn't have much of an effect of the profit/loss in that period, except from a proportion of the cost going to the P&L as depreciation.

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Quote: cbr1100xx "Maybe it's because it was started buy a hull supporter.'"


A Celtic fan has just started a tghread on our board, should it be locked? I started a few threads, on the Salford, Celtic and Catalns board a few weeks ago, should they have been locked?

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Quote: Gordon Gekko "....and that wouldn't have amounted anywhere near as much as the losses in the sept,oct and nov 07, plus player bonuses for that period would have swallowed most of that income up in anycase.
In the three months to 30 November 2006, Rovers should not have made a loss as they had income from the play-off v Widnes, the Grand Final and associated merchandise etc against a wage bill of £80k at most. Let's assume that all the prize money was given to the players - still should be breakeven at worst for this period. We're then into a 12 month period to 30 November 2007 which will include a full season's payment of Sky money, season passes, merchandise, sponsorship etc. Any club would plan their costs for the full 12 months (player contracts run over this full 12 months) vs the income in respect of this period. Whilst there won't be much cash coming in in the last 3 months, that's irrelevant from a budget and P&L perspective. It would therefore seem likely that the full loss derives from the 12 months to November. You can try and pretend that nothing can be deduced from the accounts for another year, but I don't agree. On your logic there is a big loss in Sept-Nov 2007. How will this be different in 2008 as the basic financial framework is the same year on year? When we do see the 2008 accounts, what reduction in the £2.4m are you expecting to see? icon_wink.gif

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Quote: Mrs Barista "In the three months to 30 November 2006, Rovers should not have made a loss as they had income from the play-off v Widnes, the Grand Final and associated merchandise etc against a wage bill of £80k at most. Let's assume that all the prize money was given to the players - still should be breakeven at worst for this period. We're then into a 12 month period to 30 November 2007 which will include a full season's payment of Sky money, season passes, merchandise, sponsorship etc. Any club would plan their costs for the full 12 months (player contracts run over this full 12 months) vs the income in respect of this period. Whilst there won't be much cash coming in in the last 3 months, that's irrelevant from a budget and P&L perspective. It would therefore seem likely that the full loss derives from the 12 months to November. You can try and pretend that nothing can be deduced from the accounts for another year, but I don't agree. On your logic there is a big loss in Sept-Nov 2007. How will this be different in 2008 as the basic financial framework is the same year on year? When we do see the 2008 accounts, what reduction in the £2.4m are you expecting to see?
So are you seriously saying that in their promotion season Rovers should have returned a profit????

Most of what you have stated is off the cuff guesswork and i didn't think real accountants did guesswork icon_lol.gif icon_lol.gif

Also how many years of SL was if before Hull posted a profit??? icon_wink.gif

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Quote: Mild mannered Janitor "So, you are blaming accountants for having to follow professional standards. Interesting
I thought I was doing the opposite TBH!

148 posts in 11 pages 
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Subscribe | Moderators: Admin, R.B.A , Anakin Skywalker , Mild Rover



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