£990,754 loss last season

Lancaster Branch · Post by **Lancaster Branch** » Tue Feb 28, 2017 4:33 pm

John Very Little wrote:
Lancaster Branch wrote: Next set of accounts are due by the end of the month. I've got a copy of last year's somewhere but wouldn't like to mention figures without being sure of them.
We lost £827,198 in our Conf North promotion winning season, or that's how much the company's liabilities exceeded its assets. The accounting year runs from 1st June to 31st May with the accounts published the following February so this seasons accounts won't be available until February next year.

On the earlier question about season tickets I think we sold around 250 as that number was mentioned when priority tickets were being sold for the FA Cup matches.

Latest accounts submitted to Companies House today. 'We' lost £990,754 last season, if I'm reading this right.

Zak · Post by **Zak** » Tue Feb 28, 2017 4:59 pm

blue nige · Post by **blue nige** » Tue Feb 28, 2017 7:17 pm

Lancaster Branch wrote:
John Very Little wrote: We lost £827,198 in our Conf North promotion winning season, or that's how much the company's liabilities exceeded its assets. The accounting year runs from 1st June to 31st May with the accounts published the following February so this seasons accounts won't be available until February next year.

On the earlier question about season tickets I think we sold around 250 as that number was mentioned when priority tickets were being sold for the FA Cup matches.
Latest accounts submitted to Companies House today. 'We' lost £990,754 last season, if I'm reading this right.

If that's correct I find that figure disturbing!

Lancaster Branch · Post by **Lancaster Branch** » Tue Feb 28, 2017 7:34 pm

See for yourself - https://beta.companieshouse.gov.uk/comp ... ng-history

The Real Slim Azza · Post by **The Real Slim Azza** » Tue Feb 28, 2017 7:44 pm

Ut oh!

BoltonBlue · Post by **BoltonBlue** » Tue Feb 28, 2017 8:55 pm

Bloody hell i thought my Mrs could spend!

IF we do manage to sneak into the play offs and go up then that loss would still be well worth it.

Bingo · Post by **Bingo** » Tue Feb 28, 2017 9:24 pm

Obviously a top 5 budget - good job we are only signing loan players instead of players on two year contracts

Steeley · Post by **Steeley** » Wed Mar 01, 2017 9:40 am

BoltonBlue wrote:Bloody hell i thought my Mrs could spend!

IF we do manage to sneak into the play offs and go up then that loss would still be well worth it.

Huge IF that.

Many many times over the years Barrow fans have slagged off other clubs making huge losses, presume its ok now though as its us.

The Real Slim Azza · Post by **The Real Slim Azza** » Wed Mar 01, 2017 9:48 am

I find it really strange that no one is talking about/ is concerned at the fact our club has just released information confirming that it's run at a loss of nearly £1 Million.

boyliegladbach · Post by **boyliegladbach** » Wed Mar 01, 2017 10:28 am

The Real Slim a former member of this forum wrote:I find it really strange that no one is talking about/ is concerned at the fact our club has just released information confirming that it's run at a loss of nearly £1 Million.

15-16 season That's was just Anthony wilsons wages before we got rid of him.

Londonblue · Post by **Londonblue** » Wed Mar 01, 2017 10:58 am

I've been following this forum for a while but never actually posted anything but, as an accountant, this post peaked my interest.

A couple of things:

- The accounts are abbreviated so it is difficult to ascertain full information of what is going on...you can only read between the lines (not that there are many)

- The accounts are for the period up to May 2016 - so they're almost a year behind the current situation.

- I don't know the full situation of how Mr Casson took over the club (or whether there are other companies involved in the structure...I'm assuming not), but it's plain to see that they have net liabilities and the only reason it is a going concern is due to day day support being provided by the main shareholder and (I'm presuming) the main creditor.

- No income statement (profit and loss) is provided but, as others have said, the movement in the P&L reserves seems to indicate a loss of ~£900k. Would be interesting to see how much turnover is gate receipts, commercial activity etc. and the proportion of the wage bill against revenue.

How this compares to other clubs in this league I have no idea - but it seems clear that the club is not self sufficient based on these numbers alone. This is obviously not news to a lot of people here, and I'm not trying to be judgemental, just pointing out a few things.

As background, I am Barrow born but lived abroad for a number of years and just returned to London. When I can, I try and catch games both at Holker Street and away.

Steelworks End · Post by **Steelworks End** » Wed Mar 01, 2017 11:05 am

The Real Slim a former member of this forum wrote:I find it really strange that no one is talking about/ is concerned at the fact our club has just released information confirming that it's run at a loss of nearly £1 Million.

It's not "released" by the club. The information comes from statutory accounts which the company is legally required to file at Companies House and which are available to the public.

The amount may be a concern, but not the availability of the information.

The Real Slim Azza · Post by **The Real Slim Azza** » Wed Mar 01, 2017 11:14 am

Steelworks End wrote:
The Real Slim a former member of this forum wrote:I find it really strange that no one is talking about/ is concerned at the fact our club has just released information confirming that it's run at a loss of nearly £1 Million.
It's not "released" by the club. The information comes from statutory accounts which the company is legally required to file at Companies House and which are available to the public.

The amount may be a concern, but not the availability of the information.

Correct, I got that wrong. Still its a high price and I don't think I want to know how much of that is purely cash injection.

Londonblue · Post by **Londonblue** » Wed Mar 01, 2017 11:21 am

Correct, I got that wrong. Still its a high price and I don't think I want to know how much of that is purely cash injection.

Difficult to say...but as the liabilities have increased by a similar amount to the loss you could say that quite a lot of it is cash injection...

Zak · Post by **Zak** » Wed Mar 01, 2017 11:31 am

Nothing to worry about. I'm sure the Bluebirds Trust can acquire another 90k members to make up any shortfall when things eventually go pop.