NUFC finances

The most recent business had a previous name of ISSUEBONUS LIMITED.  Possibly could be due to the 1990 share issue.

No. They are different companies, with different registration numbers. The history is not the same, one incorporated in 1990 the other in 1890.

 

Any accountants around?

Is the more recent of the two the one which the mackems often refer to ?

https://beta.companieshouse.gov.uk/company/00031014/officers

The other stooges are here

We've established that. But why are we reporting under a different company this year? What is the difference?

We've established that. But why are we reporting under a different company this year? What is the difference?

Fuck knows, I've just been giggs'd whilst looking at them

Who knows. Need an expert.

 

Who knows. Need an expert.

Yeap.

Newcastle United Limited got the £33m funding from SJP Holdings Ltd.

But Newcastle United Football Club Limited has a number of charges against property.

 

Who knows. Need an expert.

 

Yeap.

 

Newcastle United Limited got the £33m funding from SJP Holdings Ltd.

 

But Newcastle United Football Club Limited has a number of charges against property.

To me it sounds like we were a homebase one day but opened up the next as B + Q or am I reading this wrong?

No. They are different companies, with different registration numbers. The history is not the same, one incorporated in 1990 the other in 1890.

 

Any accountants around?

Here's one..

The accounts filed are the consolidated ones, Newcastle United Ltd is the parent company but all or virtually all the trade goes through Newcastle United Football Club Ltd the main subsidiary (as per note 15). The Company Statement of Financial Position (bollocks new term for Balance Sheet) has as its main asset the investment in the subsidiaries. Presumably the Football Club Ltd accounts will be filed now or very soon but they won't be much different overall as the note says that the parent Co profit and loss account only has a loss of £18k (I think) which is  quite probably all auditors fees.

http://www.themag.co.uk/2017/04/massive-40m-transfer-surplus-announced-newcastle-united/

http://www.chroniclelive.co.uk/sport/football/football-news/newcastle-squad-charnley-accounts-benitez-12881389

That account article was decent but it isn't taking into account the massive increase in media money alone in relation to future income if we do go up.

I agree the last relegation took around 5 years to get over but id say the next 2 years would be a fairer reflection of recovery time this time round and that's not including the fact that we can easily change the policy of spending in dribs and drabs rather than cash up front or breaking the habit of a lifetime under Ashley and using an overdraft to accumulate.  It's not all doom and gloom aside from one man making it seem that way.

£42m loss of which £21m is “increase in provision” and £10m is promotion bonuses. Tells a totally different story to the £90m loss line we were fed last week.

Maximum net spend. Just a budget. No way we did spend 46m last summer.

From an accounting perspective it's all above board and at times clever. But it doesn't really give a good insight into the inner workings. This document is a polished turd whose sole purpose is to appease regulators.

In the real world, the 30m write-off of toxic assets (whatever they called them) is imaginary money. Writing it off when we were going to lose money anyway is sound, because it captures all of the bad "losses" (the remainder of the contracts on rubbish players like Sels et al) in a single tax-deductible year. It means next years' books won't have those players listed at all, making them much rosier.

It also fits his "poor me" routine, too

So was the club's recent stories about the accounts all a load of spin and bollocks to make it seem like we're more hard-up than we are, and this guy has just debunked it all? To exclude the info about significant player sales seems particularly stupid.

Any explanations as to why the wage bill went up so dramatically?

Any explanations as to why the wage bill went up so dramatically?

Last week they said that 30m of that was writing off assets; essentially they added up the value of players that weren't playing (out on loan like Sels) for the entirety of their contracts and said the effect of "these are toxic assets with no value, and we made this enormous loss on them." I'll try to find a quote.

EDIT: In the reports on .cock, they refer to "onerous contract provisions totalling just over £30m," now I just have to find where that is explained

https://www.nufc.co.uk/news/latest-news/accounts-year-ending-30-june-2017

EDIT 2: The Chronicle described it as "essentially for those players no longer considered part of first-team plans but who are still employed by the club, as well as promotion bonuses." https://www.chroniclelive.co.uk/sport/football/football-news/newcastle-united-announce-huge-909m-14675427

Knew straight away the headline loss and wage costs didn't look anywhere near right like, what a load of fucking bollocks.