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GTFC Huge loss

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BIGChris
September 9, 2010, 8:44am
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Company accounts show Town made a huge operating loss of nearly £600k in the last financial year but this was largely offset by player sales (Bennett + Barlow)
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dapperz fun pub
September 9, 2010, 8:53am
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it doesnt read good,a trip to wembley and promotion needed
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gary_elton
September 9, 2010, 9:00am

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a smart run in the FA Cup would be nice too.....


All my pictures , Seem to fade to black and white.... (Reg Dwight)
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arryarryarry
September 9, 2010, 9:06am
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Quoted from gary_elton
a smart run in the FA Cup would be nice too.....



To get to the first round would be nice.
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STB
September 9, 2010, 9:10am

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So in reality, my 6 year old lad's team is 600K better off than town and they are more entertaining to watch.
Fenty should just give up now and get a fish round.  


Former lover of all things GTFC . . .
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gary_elton
September 9, 2010, 10:01am

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Quoted from arryarryarry



To get to the first round would be nice.


If we get to round 1....Lincoln away please Mr. FA Cup man... oh yes.......  


All my pictures , Seem to fade to black and white.... (Reg Dwight)
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pier39
September 9, 2010, 10:06am
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Quoted from STB
So in reality, my 6 year old lad's team is 600K better off than town and they are more entertaining to watch.
Fenty should just give up now and get a fish round.  


honest jon fenty (condem) says our debts are benign and arent really debts,and anyway hed fook a fish round up
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BIGChris
September 9, 2010, 11:15am
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Someone, I cannot recall who, posted recently about Mike Parker already being at loggerheads with John Fenty.

Following the receipt of the clubs accounts and the accompanying notices and letters it would appear that couldnt be further from the truth.

Mr Parker has invested £500k into the club. Both MP & JF have reached an agreement to 'equalise their shareholdings so the 'burden' is shared equally going forward. Mike's investment will be converted into shares and Fenty will convert £242K of his existing loans into shares.

JF's partners shares will also be transfered to JF himself.

Ordinarily their combined shareholding would mean they have to make an offer for the other issued shares  but are asking for a special resolution to be passed at the forthcoming AGM for this NOT to be required.

In the accounts themselves the operating loss was £586,555 but there was a significant profit on player sales of £556,675 meaning the overall loss was a little under £30k.

The accumulated losses carried forward now total £2.6m and the company is only really viable due to the support of the two Senior board members!

Other points that may be of interest is that wage costs for ALL staff were £2.247m, we received £604k from television and broadcasting ( i guess this will be very significantly down this year), loans from directors are £2.39m. We owe Sky TV £33,500 for something (probably a previous loan?)

The AGM is 30th Sept at 10am
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Alfie
September 9, 2010, 11:44am
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Keep up the good work, John.
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Roast Em Bobby
September 9, 2010, 11:47am
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anyone got a link to the actual accounts?
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