| FORUMS > Hull KR > Rovers Accounts to 30th November 2007 |
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| Player Coach | 8599 | No
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| Jul 2005 | 19 years | |
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| May 2016 | Aug 2014 | LINK |
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| Quote: Neil HFC "IIRC he actually said he had no idea as the consulate pull up the draw bridge and pull down the shutters and don't let anyone know whats going on untill they see fit.'"
Butt out or i give Dave M your mobile number   |
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| Club Owner | 16136 |  |
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| Feb 2004 | 21 years | |
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| Jul 2023 | Mar 2022 | LINK |
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She got the wiggle hip sway hypno sex ray goin' on in my head
She got the flippin' hip slide hypno sex siren in my head
She got the wiggle hip sway hypno sex ray light's flashin' red:d7dc4b20b2c2dd7b76ac6eac29d5604e_8313.jpg |
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| Quote: Gavin Miller - Legend "Butt out or i give Dave M your mobile number ![]()
He's a big softie really.
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| International Chairman | 1470 |  |
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| Dec 2001 | 23 years | |
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| Jan 1970 | Jun 2022 | LINK |
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| Player Coach | 29797 | No
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| Jul 2005 | 19 years | |
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| Nov 2024 | Nov 2024 | LINK |
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| Quote: Gordon Gekko "Next years accounts will certainly make interesting reading ![]()
True. Until this time next year though the magic number is £2.4m. Given the battering we've taken from the Rovers know-alls on FC's £2m debt over the last decade,I'd be disappointed if this were not referred to at least once a day. And quite rightly so. As you sow, so shall you reap.
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| Rank | Posts | Team |
| Player Coach | 1802 | No
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| Joined | Service | Reputation |
| Jul 2005 | 19 years | |
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| Apr 2012 | Oct 2011 | LINK |
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Mo. "Show Homer the exit Barney"
Barney. "There's an exit?": |
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| Quote: Mrs Barista "Now filed with Companies House so in the public domain
I've said many times that abbreviated accounts do not give enough information to form a real opinion. I have sent for Rovers to look at but I will say about yours, unlike you I do not look at them like an accountant but as a director/investor. I calculate that the present situation is that they are in a negative position to the tune of £1.573 million. I calculate this by completely removing the intangibles, halving the tangibles to reflect the true (firesale) valuation and removing the debtors amount which we have all agreed (I think) do not belong in the accounts to y/e 2007 as they are apparently for the following season. Lets be honest, if the club folded in the October of 2007 you could hardly count them could you?
Remember, I do not do "account speak" I look at the true value of the company (Hull SL) and this is the nearest to the truth. I do know someone who has seen the full balance sheet when he attempting to buy the club and he walked away from it saying there was an undisclosed "blackhole"
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| Rank | Posts | Team |
| Player Coach | 4033 | No
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| Joined | Service | Reputation |
| Sep 2005 | 19 years | |
| Online | Last Post | Last Page |
| Mar 2014 | Mar 2014 | LINK |
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| Quote: Big Spender "Couldn't have chosen a better time to quote ......as Rule denies any interest to sign Lee Crooks from the Robins ![]()
Which was correct.
Lee Crooks wasn't signed from rovers
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| Rank | Posts | Team |
| Player Coach | 29797 | No
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| Joined | Service | Reputation |
| Jul 2005 | 19 years | |
| Online | Last Post | Last Page |
| Nov 2024 | Nov 2024 | LINK |
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| Quote: Vicenzo "I've said many times that abbreviated accounts do not give enough information to form a real opinion. I have sent for Rovers to look at but I will say about yours, unlike you I do not look at them like an accountant but as a director/investor. I calculate that the present situation is that they are in a negative position to the tune of £1.573 million. I calculate this by completely removing the intangibles, halving the tangibles to reflect the true (firesale) valuation and removing the debtors amount which we have all agreed (I think) do not belong in the accounts to y/e 2007 as they are apparently for the following season. Lets be honest, if the club folded in the October of 2007 you could hardly count them could you?
Remember, I do not do "account speak" I look at the true value of the company (Hull SL) and this is the nearest to the truth. I do know someone who has seen the full balance sheet when he attempting to buy the club and he walked away from it saying there was an undisclosed "blackhole"'"
Yet Sadofsky's said that, intangible assets apart, the accounts were a true and fair view of the company's financial status. So you're saying they've breached their duty of care to Hull's shareholders. Interesting opinion.
Not sure how you get to -£1.6m. Using your methodology (which is flawed on the subject of debtors, but let's go with it), I make:
Hull FC
Half of tangible fixed assets £184k
Half of Stocks £75k
Cash £290k
Creditors -£1,712k
Net valuation -£1,163k
Rovers
Half of tangible fixed assets £464k
Half of Stocks £78k
Cash £13k
Creditors -£2,414k
Net Valuation -£1,859
This excludes debtors. We have no analysis of debtors, but, as I've said before, this is only balance sheet anyway unless you are saying Sadofsky's have signed off income recognition in the incorrect period.
I applaud your efforts to deflect from the subject of Rovers accounts and the £2.4m creditors number. When can we expect your insight on them? |
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| Rank | Posts | Team |
| Moderator | 36786 |  |
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| Jul 2003 | 21 years | |
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| Aug 2024 | May 2023 | LINK |
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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 |
Moderator
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| Quote: Gavin Miller - Legend "I sat at a Hull FC fans forum just a few weeks ago and saw these words come out the mouth of James Rule.'"
You can see words that people speak?  |
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| Rank | Posts | Team |
| Player Coach | 1802 | No
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| Joined | Service | Reputation |
| Jul 2005 | 19 years | |
| Online | Last Post | Last Page |
| Apr 2012 | Oct 2011 | LINK |
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Mo. "Show Homer the exit Barney"
Barney. "There's an exit?": |
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| Quote: Mrs Barista "Yet Sadofsky's said that, intangible assets apart, the accounts were a true and fair view of the company's financial status. So you're saying they've breached their duty of care to Hull's shareholders. Interesting opinion.
Not sure how you get to -£1.6m. Using your methodology (which is flawed on the subject of debtors, but let's go with it), I make
If my methodology is applied to Rovers figures then yes,that will be the situation. Let me put into normal peoples terms. If Hull FC had to finish business at the end of year 2007 that is exactly the situation they would be in...end of! As to Sadofskys, do you think that Sandfords accountants have been given a true and fair reflection of the group or have they been,like all accountants,relying on the info.given them by the Directors of the companies. We always included a "purchase reserve" at our year end which reflected the accounts not submitted but relevant to that years trading. We NEVER included sales for the following financial year and I can see no reason for doing so, well apart from making the figures look better!
END OF DISCUSSION!!
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| Rank | Posts | Team |
| Player Coach | 8599 | No
Team
Selected |
| Joined | Service | Reputation |
| Jul 2005 | 19 years | |
| Online | Last Post | Last Page |
| May 2016 | Aug 2014 | LINK |
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16627.jpg
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| Quote: Mrs Barista "I'd be disappointed if this were not referred to at least once a day. '"
Get your hankie ready then. |
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| Quote: Vicenzo "If my methodology is applied to Rovers figures then yes,that will be the situation. Let me put into normal peoples terms. If Hull FC had to finish business at the end of year 2007 that is exactly the situation they would be in...end of! As to Sadofskys, do you think that Sandfords accountants have been given a true and fair reflection of the group or have they been,like all accountants,relying on the info.given them by the Directors of the companies. We always included a "purchase reserve" at our year end which reflected the accounts not submitted but relevant to that years trading. We NEVER included sales for the following financial year and I can see no reason for doing so, well apart from making the figures look better!
END OF DISCUSSION!!'"
Careful you don't grab one of the sharp straws. |
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| Quote: Gavin Miller - Legend "Get your hankie ready then.'"
I'll borrow vince's he won't be needing them anymore. |
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| Rank | Posts | Team |
| Player Coach | 29797 | No
Team
Selected |
| Joined | Service | Reputation |
| Jul 2005 | 19 years | |
| Online | Last Post | Last Page |
| Nov 2024 | Nov 2024 | LINK |
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| Quote: Vicenzo "If my methodology is applied to Rovers figures then yes,that will be the situation.'"
So FC's net value is much more than Rovers, then. Glad we've cleared that up
Quote: Vicenzo " Let me put into normal peoples terms. If Hull FC had to finish business at the end of year 2007 that is exactly the situation they would be in...end of! As to Sadofskys, do you think that Sandfords accountants have been given a true and fair reflection of the group or have they been,like all accountants,relying on the info.given them by the Directors of the companies. We always included a "purchase reserve" at our year end which reflected the accounts not submitted but relevant to that years trading. We NEVER included sales for the following financial year and I can see no reason for doing so, well apart from making the figures look better!
END OF DISCUSSION!!'"
You're really struggling with the concepts of P&L and Balance sheet, aren't you? If FC had recorded the invoices for sponsorship before the end of October, the double entry in the accounts would be Debit Debtors (Balance sheet - Debtors), Credit Deferred Income (Balance sheet- creditors due within one year). Some companies do this to inflate asset value, but it also inflates creditors and is known as window dressing as it makes no difference to the net asset position. So really using your methodology, I'm understating Hull's net worth by £534k and Rovers by £219k, increasing the differential by £300k in Hull's favour. The other thing is you don't know what's in that debtors number. If we pay rent quarterly in advance to the SMC in September for example, two thirds of that payment would be classed as a prepayment and shown within debtors.
I'm going to drop a line to Sadofsky's anyway to clarify their principles on income recognition as your comments suggest there is a material misstatement in Hull's accounts that their shareholders should be aware of. |
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| Rank | Posts | Team |
| Moderator | 36786 | |
| Joined | Service | Reputation |
| Jul 2003 | 21 years | |
| Online | Last Post | Last Page |
| Aug 2024 | May 2023 | LINK |
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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 |
Moderator
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| Quote: Mrs Barista "I'm going to drop a line to Sadofsky's anyway to clarify their principles on income recognition as your comments suggest there is a material misstatement in Hull's accounts that their shareholders should be aware of.'"
Which is quite a serious accusation to make on a public forum. Here's hoping Vince doesn't get RLFans into any bother... |
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| Rank | Posts | Team |
| International Chairman | 1470 | |
| Joined | Service | Reputation |
| Dec 2001 | 23 years | |
| Online | Last Post | Last Page |
| Jan 1970 | Jun 2022 | LINK |
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| Quote: clubfoot fc "Which was correct.
Lee Crooks wasn't signed from rovers'"
So they didn't "tap" him up whilst still under contract  |
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[/quote:pcftkvui]
[quote="Stan Butler":pcftkvui]And the next one to be TKO(H)'d....... 
[/quote:pcftkvui]
[quote="Rufus Robin":pcftkvui]we share the city with an admittedly bigger club[/quote:pcftkvui]
[b:pcftkvui]All Derby matches: Played 214; Hull won 106; Rovers won 98; Draw 10[/b:pcftkvui]:d7dc4b20b2c2dd7b76ac6eac29d5604e_29236.jpeg
