Question about the accounts (1 Viewer)

[bigmacdaddy01]

Fisher going on about break-even prompted me to go back and have another look at the Sky Blue Sports & Leisure accounts for the season ending May 2015.

They report a loss for the period (before interest) of £2m, and included in this loss are "administrative expenses" of £2.9m.

I'm trying to work out what these admin costs are. Staffing (£5m) and direct costs (match day expenses - £1.5m) are reported separately. Note 3 lists other expenses (rent, amortisation, audit fees etc) totalling around £0.8m, but that still leaves another £2m to allocate. If it isn't players/staff, match day costs, rent or interest, then what is it?

Any ideas?

 

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[ConnorDevine]

Tim Fishers script writer?

When they sold to Otium I'm sure i read rumours that they were creating false debts to increase profits should someone else take control of the club, if this were true I'd imagine it's no more than a few vaguely backed expenses to avoid a tax hit. In reality it's quite possibly to do with court cases

 

[SuperFred]

Another question on finances, is there any proof we were losing 15m a year 5 years ago like fisher claims?

 

[Rusty Trombone]

The £15m loss included a write off of goodwill of over £6m, so he is right, but its not a cash item and its not really a trading item in the year. So its not really a fair comparison.

If he is using those accounts he should also highlight that he has overseen a reduction in income of over £10m a year.

 

[Captain Dart]

Look for large changes to the figures reported in previous years.

There was a £300K increase in pension contributions too, whose fund(s) was that paid to?

 

[oldskyblue58]

The £15m loss included a write off of goodwill of over £6m, so he is right, but its not a cash item and its not really a trading item in the year. So its not really a fair comparison.

If he is using those accounts he should also highlight that he has overseen a reduction in income of over £10m a year.

More than that the write down relates to part of their 9m original 2008 investment which was the net liabilities taken on. So they wrote down the goodwill but still claim to be owed for it. It never was a cash investment