| FORUMS > Hull KR > All clubs financials profit/loss... |
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[i:10za56ci]Hold on to me baby, his bony hands will do you no harm
It said in the cards, we lost our souls to the Nameless One[/i:10za56ci]:d7dc4b20b2c2dd7b76ac6eac29d5604e_6505.jpg |
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| Quote: Rogues Gallery "According to todays League Express Hull FC present their accounts differently to every other club in that they they include a valuation of their players into their balance sheet.
The independent auditors have suggested that this (2008 valuation £942,500) should be removed from the balance sheet. The auditors have registererd a disagreement with the Hull directors.
It also appears that from 2009 all clubs have to lodge full accounts which includes a profit and loss account, so we should have some sort of conformity in the next set of presented accounts.'"
Welcome to 4 years ago (at least).
Hull have always done this. It's not standard accounting practice so there is always a qualification (not a 'disagreement') marked in the accounts by the auditors.
And the player valuations have zero impact on P&L in any case. They sit on the balance sheet which is the sum of assets minus liabilities. This has nothing to do with the annual profit and loss accounts which are the things that everyone seems to be comparing at present. |
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[i:10za56ci]Hold on to me baby, his bony hands will do you no harm
It said in the cards, we lost our souls to the Nameless One[/i:10za56ci]:d7dc4b20b2c2dd7b76ac6eac29d5604e_6505.jpg |
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| Quote: rover49 "How do they arrive at this figure I wonder, not many would have had fees paid for them. 900k isn't much for a full squad of players is it.'"
Which is why it's not standard accounting practice to include them. Player valuations are entirely subjective and situational - a player is basically worth what someone is prepared to pay for him so there is no way to objectively value one as an asset. |
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Cuddle Club Rules
1. You dont talk about Cuddle club
2. YOU DO NOT TALK ABOUT CUDDLE CLUB!!!!
PS3 tag = Robbo_4444:20348.jpg |
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| Quote: Rogues Gallery "According to todays League Express Hull FC present their accounts differently to every other club in that they they include a valuation of their players into their balance sheet.
The independent auditors have suggested that this (2008 valuation £942,500) should be removed from the balance sheet. The auditors have registererd a disagreement with the Hull directors.
It also appears that from 2009 all clubs have to lodge full accounts which includes a profit and loss account, so we should have some sort of conformity in the next set of presented accounts.'"
Which has the square root of nack all to do with profit and loss. |
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Motto of the week -
It is the way of the weak to secretly bleat to those in authority rather than fight their own battles.:27608.jpg |
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| Quote: Kosh "Which is why it's not standard accounting practice to include them. Player valuations are entirely subjective and situational - a player is basically worth what someone is prepared to pay for him so there is no way to objectively value one as an asset.'"
If that's the case why do Hull do include them as assets on their balance sheet at all??. Surely it overstates the value of the clubs total assets and therefore its net worth  |
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HEY YOU GUYS!!!!!!!!:d7dc4b20b2c2dd7b76ac6eac29d5604e_35457.png |
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'when my life is over, the thing which will have given me greatest pride is that I was first to plunge into the sea, swimming freely underwater without any connection to the terrestrial world'
Yves Le Prieur, the real inventor of the aqualung: |
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| Quote: Gordon Gekko "If that's the case why do Hull do include them as assets on their balance sheet at all??. Surely it overstates the value of the clubs total assets and therefore its net worth ![]()
Fits in with their fans perception of the club 
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'Thus I am tormented by my curiosity and humbled by my ignorance.' from History of an Old Bramin, The New York Mirror (A Weekly Journal Devoted to Literature and the Fine Arts), February 16th 1833.:d7dc4b20b2c2dd7b76ac6eac29d5604e_33809.png |
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| Quote: Gordon Gekko "If that's the case why do Hull do include them as assets on their balance sheet at all??. Surely it overstates the value of the clubs total assets and therefore its net worth ![]()
I think you've answered your own question there. Though if somebody were stupid enough to fall for that trick when purchasing the club, they really shouldn't be trusted with that sort of money in the first place.
Has the list value of the players fluctuated to reflect the changes in the teams fortunes over recent seasons? Is it done player by player? I suppose you could do it as a proportion/multiple of their wage, for simplicity's sake. Or does somebody independent just have a best guess?
There's nowt wrong with it - it just seems a bit pointless... unless they really are hoping for a very gullible multi-millionaire buyer.
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[b:16wvcohs]"To play your best football you need players with enthusiasm and drive and energy." - [i:16wvcohs]Peter Sterling[/i:16wvcohs][/b:16wvcohs]
[quote="Adam Pearson said not":16wvcohs][b:16wvcohs]I know there are two franchises and two clubs (in Hull) and that will remain forever more[/b:16wvcohs][/quote:16wvcohs]:d7dc4b20b2c2dd7b76ac6eac29d5604e_12839.png |
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| Quote: Gordon Gekko "If that's the case why do Hull do include them as assets on their balance sheet at all??. Surely it overstates the value of the clubs total assets and therefore its net worth
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6505_1460484023.jpg
[i:10za56ci]Hold on to me baby, his bony hands will do you no harm
It said in the cards, we lost our souls to the Nameless One[/i:10za56ci]:d7dc4b20b2c2dd7b76ac6eac29d5604e_6505.jpg |
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| Quote: Gordon Gekko "If that's the case why do Hull do include them as assets on their balance sheet at all??. Surely it overstates the value of the clubs total assets and therefore its net worth ![]()
Touchy! 
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| Quote: Robbo4 "Which has the square root of nack all to do with profit and loss.'"
Actually it 'potentially' does. Especially if you were required to remove them from your balance sheet.
If they were written off the balance sheet then this would mean the write down would either need to be shown as a cost in the P&L account or alternatively written off directly to reserves.
The thought has crossed my mind that the profit generated by FC for 2008 could potentially be purely due to an increase in the valuation of the players.
I am only summising and I wouldn't think this is likely, but you never know. Then again given last season I would think a reduction in the value of the players would be much more likely!! |
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[b:16wvcohs]"To play your best football you need players with enthusiasm and drive and energy." - [i:16wvcohs]Peter Sterling[/i:16wvcohs][/b:16wvcohs]
[quote="Adam Pearson said not":16wvcohs][b:16wvcohs]I know there are two franchises and two clubs (in Hull) and that will remain forever more[/b:16wvcohs][/quote:16wvcohs]:d7dc4b20b2c2dd7b76ac6eac29d5604e_12839.png |
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HEY YOU GUYS!!!!!!!!:d7dc4b20b2c2dd7b76ac6eac29d5604e_35457.png |
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| Quote: Staffs FC "rlTry here and report back if it's bothering yourl ![]()
Not at all. Just thought of our squads worth.
£920,000 
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| Quote: Chillibeano "Actually it 'potentially' does. Especially if you were required to remove them from your balance sheet.
If they were written off the balance sheet then this would mean the write down would either need to be shown as a cost in the P&L account or alternatively written off directly to reserves.'"
The revaluation reserve. Which is completely separate to the Profit and Loss reserve, you mean. Get a copy of the accounts and check the balance sheet which includes a revaluation reserve. Just to spell it out in double-entry bookkeeping terms, the accounting entries go to fixed assets in the balance sheet, and the revaluation reserve, in the balance sheet, but not the P&L account, nor the P&L reserve. |
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| Quote: Mrs Barista "It does. These only show the financial results for 2008, a single year, though and not the overall balance sheet.
What I would say is that few clubs operate with robust business models that are self-sustaining, apart from Leeds and Hull FC, which is disappointing. Whether it's Davy at Huddersfield, Wilkinson at Salford or Moran at Warrington, there is huge over-reliance on individual benefactors to just keep putting their hands in their pocket. The salary cap is working in terms of levelling out the competition, but not in terms of helping clubs manage their financial positions responsibly. You do have to wonder how much longer the operation in London will go on and what purpose it serves other than a weekend away for supporters of the other clubs.'"
The sort of "robust business model" that involves hiring a coach from Netto's, saves shed loads of cash by ripping off the fans and staying well under the salary cap by keeping the cash in order to post a profit only to go and buy it's players from the Antiques Road Show? - No thanks. |
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They are in profit and let that be the end of it. 
