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Post by davidakky on Apr 1, 2023 16:48:14 GMT
I don’t come on here often but that results for us was huge today. Jennings is a right grafter, found his finishing boots the last few weeks too. Still plenty of work to do but more hopeful now that we have overhaul Crawley or even Colchester who have been in awful form
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Post by slomasscfc on Apr 1, 2023 16:50:04 GMT
Bradford supporting colleague who is at the game says Grimsby are shit and they are unlucky, we shall see! Odd bunch that seem to turn up against the better teams. I’ve developed a soft spot for them over the past 12 months. Done and doing a lot with not much of a budget. Really hope they put their FA cup income into the squad for next season as they could do wonders with a few quality additions. really i f*ckin hate them, garbage town, police were tossers last season, beat us twice, we never win at their place and never do us any favours like today, balls to the fish botherers
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Post by 57hattersyears on Apr 1, 2023 17:56:11 GMT
As requested!! So - the financial 'highlights' coming out of the annual accounts. These of course cover an NL season (year to Jun 22) There was a loss incurred of £4.9m (£93k a week, an increase from £50k a week the previous year ) - all funded by Stott. He's put in £9.1m in period Jan 20 - Jun 22. (And on this basis more than likely another £3.6m since then, and possibly more given the costs of being in the EFL) Income was £4.8m (according to Vaughan on COWS) meaning expenditure is £9.7m. Income is therefore less then 50% of exp. The Club in 2021/22 cost c£186k a week to run. In comparative terms income in 2020/21 was £2.1m, (and has thus increased by 128%) whilst expenditure was £4.5m (increase of 116%). Effectively the cost of running the Club has more than doubled. And that is hardly surprising given that the headcount over the year was 240 employees on average. For a business with a turnover of £4.8m this is frankly beyond any form of comprehension (it was 91 the year before). (From a personal perspective I ran a business turning over in excess of £400m with less than 3 times the number of employees). Without Stott or another benefactor, the operation is beyond unsustainable. Transfer fees paid in the year came to £367k while there were fees received of £118k. Others may wish to idrntify who these might be for. And, whilst not in the accounts,in the year to Jan 23 agents picked up £236k. The 53rd highest in English football. So in summary the Club is totally and utterly dependent on Stott writing a weekly cheque for £100k. If the property bubble bursts, and there are economic forecasters thinking that way, then he might have to tighten his belt with whatever that may mean. If it comes at some point to him moving on any future owner will have to have more than deep pockets ... to buy him out (possibly) but definitely to maintain the same scale of operation. From a personal perspective I recall being derided for backing an 'organic growth' approach when Stott came in. I have never favoured the 'purchase of success' route and nothing I see in these financial statements will shift me from that. Others will see it differently of course
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Post by m14hatter on Apr 1, 2023 18:08:48 GMT
This is where it would be useful for Vaughan to do a video chat with JK and talk through everything. Find out in terms of staff numbers how do we compare to others. Is it because of the academy being set up and the expanded football in the community stuff. What is the long term plan to be less dependent on Stott. How are they looking to grow commercial revenue etc. what’s the situation with the company loans that has been flagged by the financial wizards on here etc.
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Post by hghatter123 on Apr 1, 2023 18:12:43 GMT
As requested!! So - the financial 'highlights' coming out of the annual accounts. These of course cover an NL season (year to Jun 22) There was a loss incurred of £4.9m (£93k a week, an increase from £50k a week the previous year ) - all funded by Stott. He's put in £9.1m in period Jan 20 - Jun 22. (And on this basis more than likely another £3.6m since then, and possibly more given the costs of being in the EFL) Income was £4.8m (according to Vaughan on COWS) meaning expenditure is £9.7m. Income is therefore less than 50% of exp. The Club in 2021/22 cost c£186k a week to run. In comparative terms income in 2020/21 was £2.1m, (and has thus increased by 128%) whilst expenditure was £4.5m (increase of 116%). Effectively the cost of running the Club has more than doubled. And that is hardly surprising given that the headcount over the year was 240 employees on average. For a business with a turnover of £4.8m this is frankly beyond any form of comprehension (it was 91 the year before). (From a personal perspective I ran a business turning over in excess of £400m with less than 3 times the number of employees). Without Stott or another benefactor, the operation is beyond unsustainable. Transfer fees paid in the year came to £367k while there were fees received of £118k. Others may wish to idrntify who these might be for. And, whilst not in the accounts,in the year to Jan 23 agents picked up £236k. The 53rd highest in English football. So in summary the Club is totally and utterly dependent on Stott writing a weekly cheque for £100k. If the property bubble bursts, and there are economic forecasters thinking that way, then he might have to tighten his belt with whatever that may mean. If it comes at some point to him moving on any future owner will have to have more than deep pockets ... to buy him out (possibly) but definitely to maintain the same scale of operation. From a personal perspective I recall being derided for backing an 'organic growth' approach when Stott came in. I have never favoured the 'purchase of success' route and nothing I see in these financial statements will shift me from that. Others will see it differently of course Thanks a lot, appreciate the summary. I appreciate the ‘enjoy the ride’ sentiment from a lot of our fans…. Slightly worried about when the ride slows down or stops
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Post by Philcounty on Apr 1, 2023 18:14:56 GMT
I don’t come on here often but that results for us was huge today. Jennings is a right grafter, found his finishing boots the last few weeks too. Still plenty of work to do but more hopeful now that we have overhaul Crawley or even Colchester who have been in awful form I said, as soon as Askey came in, that you'll stay up. Only two points off Crawley now. I'll be pleased to see the bitcoin bros fail.
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Post by hedleyverity on Apr 1, 2023 18:27:10 GMT
Re the massive increase in staff numbers, is this the period when the catering operations were taken in house?
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Post by pugwash on Apr 1, 2023 18:52:46 GMT
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Post by pugwash on Apr 1, 2023 18:54:22 GMT
P.S
We're Top of the league 😁
Ok ok im only pushing buttons 😜
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Post by 1994hatter on Apr 1, 2023 19:13:20 GMT
P.S We're Top of the league 😁 Ok ok im only pushing buttons 😜 Nearly there! Did us a small favour today. 1 or 2 more wins for you should do it.
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Post by The Real Exile on Apr 1, 2023 20:44:46 GMT
P.S We're Top of the league 😁 Ok ok im only pushing buttons 😜 How are your finances looking Pug? Interested to see the comparison.
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Post by pugwash on Apr 1, 2023 22:50:34 GMT
P.S We're Top of the league 😁 Ok ok im only pushing buttons 😜 How are your finances looking Pug? Interested to see the comparison. £2.3m loss on £5.6m turnover (up from £4.3m). £400k of ground and other improvements. Debt to Eagle investments increased by £2m. Now almost £12m.
The good news is our owners, Eagle Investments 2017 Ltd, have also filed their accounts. And they are worth some £17m, with £3m in the bank and a whopping £14m worth of investments! So we don’t need to panic just yet.
As LOFC use the small companies exemption, it is very difficult to know much about the position other than the headline figures. Most football clubs use this exemption
Kinda mind boggling that £7.9 million isn't enough to buy a team that absolutely walks it at a league 2 level. The amount of money in football is ridiculous.
⬆️ All of the above is quoted from others who Like this kind of stuff . Honestly goes way above my head , just interesting comments about spends . This is also last season & Spending increased a little on playing budget
Full financials i posted above
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Post by fenedgeexile on Apr 1, 2023 23:39:08 GMT
P.S We're Top of the league 😁 Ok ok im only pushing buttons 😜 If my maths is right (and it's very late on a Saturday night, so no guarantee), at the moment you need 12 points to guarantee promotion, assuming three of the five team below, including County, win all their games. I'm sure you don't want to be complacent, but I reckon you are home and dry. And thanks for the favour today
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Post by timberwolf on Apr 2, 2023 8:54:19 GMT
Rest of todays results making last night not look as bad now. Northampton draw with Stevenage and Carlisle are about to lose to Orient. Result of the day has to be Pools against Swindon though, Jennings bagging one late on to level and they go on to win it at the death! Jennings seems to have got his goalscoring touch back along with being involved in the game and putting in a shift. Since going there he has actually scored more than both stretton and olaofe has for us. Think its 2 in two games now and wonder if we were a bit too quick getting rid of him or is he just fanceing having one last challenge of his league career.
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Post by pugwash on Apr 2, 2023 8:59:39 GMT
Rest of todays results making last night not look as bad now. Northampton draw with Stevenage and Carlisle are about to lose to Orient. Result of the day has to be Pools against Swindon though, Jennings bagging one late on to level and they go on to win it at the death! Jennings seems to have got his goalscoring touch back along with being involved in the game and putting in a shift. Since going there he has actually scored more than both stretton and olaofe has for us. Think its 2 in two games now and wonder if we were a bit too quick getting rid of him or is he just fanceing having one last challenge of his league career. Theyve got a boy called Dan Kemp who is making them tick , was 1 of ours but hes really little & lightweight but has great feet as well .
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