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FORUMS > Hull KR > Rovers Accounts to 30th November 2007
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Quote: Gordon Gekko "Think you're getting your years mixed up.
Well, I caught the "7" key instead of the "6".

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Quote: Gordon Gekko "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
I'm not saying that Rovers should have made a profit. You're saying the 15 months v 12 months is a key reason for the loss and I'm saying it's unlikely. Hudgell said any questioning Rovers financial position were mischief makers and the club was in good financial health, when in fact the level of indebtedness is rising alarmingly. FC's accounts aren't particularly attractive reading and I've never claimed they are. You seem to want to defer any discussion on the accounts until the 2008 ones are published, which will presumably be late for the 4th running about this time next year. To ask you what you think they might show doesn't seem unreasonable.

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Quote: trys'r'us "Well, I caught the "7" key instead of the "6".'"


Like is said earlier.

How many years of S/L was before Hull posted a profit???

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Quote: Gordon Gekko "Like is said earlier.

How many years of S/L was before Hull posted a profit???'"

But we keep being told how much better the set-up is at Rovers...

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Quote: Kosh "But we keep being told how much better the set-up is at Rovers...'"


Not by me you don't icon_lol.gif

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Rovers accounts cannot be too bad otherwise they would have struggled getting a franchise spot surely. Assuming they were 2.4m in debt the RFl would have known these facts and figures when the franchise stuff was going in for approval.
Rovers obviously submitted a good plan of action for reducing the deficit over the coming years, and that has satisfied the powers that be.

Seems to me both sets of supporters seem to want the other club to go out of business, which from a business point of view makes no sense as they would lose a lot of revenue on the games between them, plus there would be the added costs of having to travel to another away game that is out of the city.

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Quote: Mrs Barista "I'm not saying that Rovers should have made a profit. You're saying the 15 months v 12 months is a key reason for the loss and I'm saying it's unlikely.'"


15 months of expenditure versus at best 13 months of full income will impact on profitability.

Quote: Mrs Barista "Hudgell said any questioning Rovers financial position were mischief makers and the club was in good financial health, when in fact the level of indebtedness is rising alarmingly. '"


But only he knows the reasons behind this we are all guessing, but granted at face value the accounts don't look good.

Quote: Mrs Barista "FC's accounts aren't particularly attractive reading and I've never claimed they are. '"


Agreed.

Quote: Mrs Barista "You seem to want to defer any discussion on the accounts until the 2008 ones are published, which will presumably be late for the 4th running about this time next year.'"


I am discussing them now and have said they don't make particularly good reading but there may well be some valid reasons. I could be wrong but i may be right. You could be wrong but you could be right. Fact is neither of us really know. Its all guesswork.

Quote: Mrs Barista " To ask you what you think they might show doesn't seem unreasonable.'"


Financial performance is better judged on a 12 month period IMO particularly when trading is seasonal. Rovers income will have increased considerably in their second S/L year so it is perfectly reasonable to assume that there may be an improvement in the clubs financial performance. However until we see the accounts we cannot make a valid judgement.

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Quote: Mrs Barista "You'd think I'd be offended, but we proper accountants recognise and embrace our nerdiness. Self-awareness is a great thing. Thats got to be a worry!!

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Quote: Mrs Barista "I'm not saying that Rovers should have made a profit. You're saying the 15 months v 12 months is a key reason for the loss and I'm saying it's unlikely. Hudgell said any questioning Rovers financial position were mischief makers and the club was in good financial health, when in fact the level of indebtedness is rising alarmingly. FC's accounts aren't particularly attractive reading and I've never claimed they are. You seem to want to defer any discussion on the accounts until the 2008 ones are published, which will presumably be late for the 4th running about this time next year. To ask you what you think they might show doesn't seem unreasonable.'"


To be fair, these figures are over 12 months old and don't (necessarily) represent the current position. rovers may have made a big profit in the last financial year and have paid off a large chunk of the debt (or not)

Wonder where the extra £1 million in liabilities in the period have come from

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Quote: Jake the Peg "To be fair, these figures are over 12 months old and don't (necessarily) represent the current position. rovers may have made a big profit in the last financial year and have paid off a large chunk of the debt (or not)

Wonder where the extra £1 million in liabilities in the period have come from'"


Agreed. With all the public reassurances on Rovers financial health, it's very unlikely this would be on the back of a £2.4m debt figure. This must have come down since for Hudgell to be so categorical that the finances are going in the right direction.

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Quote: Mrs Barista "Agreed. With all the public reassurances on Rovers financial health, it's very unlikely this would be on the back of a £2.4m debt figure. This must have come down since for Hudgell to be so categorical that the finances are going in the right direction.'"

So you know more than Hudgell then? tell you what, stop worrying yourself doll face and get a life.

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Quote: cbr1100xx "So you know more than Hudgell then? tell you what, stop worrying yourself doll face and get a life.'"



You keep getting slightly catty and making it so obvious that she is touching a nerve !

Is she getting to ya flower !!!!!

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who cares if either club is deep in the red?
s long as we have our respective teams to watch/follow each week all us fans need to be concerned with is which team is doing better out on the field, let the directors and people in charge worry about the finances.
we ve waited too long to have both teams in superleague to let things like debts worry the fans........


my main concern for this season is will Hfc finish above Hkr icon_smile.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?
Barista , are you aware that during the promotion year Rovers and other teams in that division were treated as outcasts and were not privvy to sky monies. Crowds were not as high as they are now and with a full time professional team to finance success does come at a cost. Can you explain why with a 1.25 million handout from the SL to merge , 700 K gift from the rate payers of Hull, reaching 4 finals and 12 seasons in SL why Hull Super League finances are not good?

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Quote: cofr_rockin_robin " Can you explain why with a 1.25 million handout from the SL to merge , 700 K gift from the rate payers of Hull, reaching 4 finals and 12 seasons in SL why Hull Super League finances are not good?'"


Because our financial management up to 4 years ago was pants. How else do you get a debt position of £2m+?

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