Club Accounts

Quoted from GrimRob

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Floodlights may not feature at all on Saturday?

You looked at the weather forecast? They’ll be on from 14:30.

Quoted from GollyGTFC

You looked at the weather forecast? They’ll be on from 14:30.

Great. Dark and gloomy. Metaphorical.

Quoted from GrimRob

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Floodlights may not feature at all on Saturday?

The main worry has not so much been the floodlights, as the floodgates; which we all pray have now been closed.  

https://gtfc.co.uk/annual-accounts-released/

Wow turnover close to 7 million

-Pettit & Stockwood converting 3 million loan into shares

-Profit 245k b/t

-cup run made 1.41 million

- players sold 293k (Mcatee ?)

Quite transparent and positive off the pitch it seems , and it shows that the player wage bill was/is far higher than these daft generators claim to know .

Quoted from Mappers

https://gtfc.co.uk/annual-accounts-released/

Wow turnover close to 7 million

Interesting set of accounts under present circumstances. I’ll let someone else pour through the minutiae, but some things that stood out.

Comparing last season with our previous, mostly normal League Two season, turnover increased from £3.4m to £6.8m - effectively double (98.5% if we account for rounding). Staff costs increased from £2.7m to £4.0m, an increase of 47%.

Proportion of turnover spent on wages therefore actually dropped from 79% to 59% (versus 19/20), though that’s not entirely surprising in that we wouldn’t have budgeted for the kind of cup money we eventually took (the majority of which came after the January window closed).

Now comparing against last season, commercial revenue was down fractionally, while hospitality was down by a third. That doesn’t seem particularly reflective of the upward trajectory the club was on.

What’s concerning though, is that the club only posted a pre-tax profit of £245k, despite £1.4m generated from the cup run. Without that, you’re back in similar territory to the previous season’s £931k loss.

The underlying takeaway then, is that we aren’t sustainable outside of extraordinary seasons, and even accounting for a degree of unsustainability, we remain wholly uncompetitive on the pitch. That said, that’s not the whole story, because we do know from statements by Stockwood and Hurst in the summer that the playing budget had increased (by what extent we don’t know), and yet we have by every tangible metric got much worse on the pitch.

All in all, it’s pretty depressing. So many questions to be asked.

We now have to wait another 12 months to see what the current bunch of failures cost us. Jason and Andrew have purchased the club and stuck another £3m in, yet we still find ourselves in the same position.

Those figures are positive on the face of it, just increase my anger when I think about where we find ourselves.

Quoted from Mappers

https://gtfc.co.uk/annual-accounts-released/

Wow turnover close to 7 million

-Pettit & Stockwood converting 3 million loan into shares

-Profit 245k b/t

-cup run made 1.41 million

- players sold 293k (Mcatee ?)

Quite transparent and positive off the pitch it seems , and it shows that the player wage bill was/is far higher than these daft generators claim to know .

It’s funny, because my interpretation is the polar opposite to yours. It’s entirely possible that I’m just being a miserable cúnt - the last few weeks have really beaten the stuffing out of my Town mojo.

If that’s the case, someone feel free to put me back in my box of despondency.

Does anyone know how much we are paying non footballing staff (wage bill apart from footballers)?

Quoted from Poojah

It’s funny, because my interpretation is the polar opposite to yours. It’s entirely possible that I’m just being a miserable cúnt - the last few weeks have really beaten the stuffing out of my Town mojo.

If that’s the case, someone feel free to put me back in my box of despondency.

I think those accounts paint a positive picture (disclaimer: I've only read the article at the moment), but the reality that is transferring to the pitch tells another story.

I'm interested to see what Kieran Maguire has to say about them.

Quoted from Poojah

What’s concerning though, is that the club only posted a pre-tax profit of £245k, despite £1.4m generated from the cup run. Without that, you’re back in similar territory to the previous season’s £931k loss.
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How much of it was paying off Fenty? Says we repaid him to the tune of £449,000 this year