Port Vale accounts given to OVF

[robf]

After the debate on the forum and the opinion piece by Malcolm Hirst, Norman Smurthwaite asked OVF to publish a copy of the club accounts.

 

You can see the accounts in this blog post - http://www.onevalefan.co.uk/2017/07/port-vale-owner-hands-copy-of-club-accounts-to-onevalefan/

 

I am no financial expert so I welcome any opinions from others on any key points that the accounts reveal along with any general observations on this matter.

[Martino Knockavelli]

Respect from me Mr Smurthwaite

 

Sent from my SM-G900F using the onevalefan mobile app

[Iron Curtain]

My intial thoughts:

 

1. Without the accounts for the company that owns the ground and the retail these accounts do not dispel any rumours of Norman reinvesting retail funds as a directors loan.

 

2. These accounts show the club itself to be balance sheet insolvent

 

3. These accounts show the assets of the club to be less than £2m... making Norman's valuation of £6m - £7m seem very strange. The accounts for the ground and retail may show they are worth the additional £4m - £5m but I doubt it.

 

Note I have only scanned the accounts for a few mins as it's late.

 

These are just initial thoughts.

[Santa]

Players wages comes to around £1.7 million, total turnover is £3.2 million.

 

Very comfortably under the 60% rule for FFP but yet the club still makes a significant six figure loss. This is worrying.

[Iron Curtain]

Players wages comes to around £1.7 million, total turnover is £3.2 million.

 

Very comfortably under the 60% rule for FFP but yet the club still makes a significant six figure loss. This is worrying.

 

Agreed... shows that the place isn't run as well as it could be.

[Timothius]

Respect from me Mr Smurthwaite

 

Sent from my SM-G900F using the onevalefan mobile app

 

for what? These have been available to view on Companies house for a while now. They show a lot of things to folk who can extract accounts, an interesting point is that the figures he has banded about re the team budget have been ******** based on what the accounts actually say. He claimed the budget was 2.5 million yet the accounts show it to be 1.8 million, quite a difference

[Martino Knockavelli]

My intial thoughts:

 

1. Without the accounts for the company that owns the ground and the retail these accounts do not dispel any rumours of Norman reinvesting retail funds as a directors loan.

 

2. These accounts show the club itself to be balance sheet insolvent

 

3. These accounts show the assets of the club to be less than £2m... making Norman's valuation of £6m - £7m seem very strange. The accounts for the ground and retail may show they are worth the additional £4m - £5m but I doubt it.

 

Note I have only scanned the accounts for a few mins as it's late.

 

These are just initial thoughts.

When did he Value the club at 6-7 Million? Just curious.

[Timothius]

When did he Value the club at 6-7 Million? Just curious.

 

he recently said on this very forum the ground alone was worth 10 million

[Iron Curtain]

for what? These have been available to view on Companies house for a while now. They show a lot of things to folk who can extract accounts, an interesting point is that the figures he has banded about re the team budget have been ******** based on what the accounts actually say. He claimed the budget was 2.5 million yet the accounts show it to be 1.8 million, quite a difference

 

Another Smurf 'fact' that he expects us to believe. Some will

[Santa]

Bar catering & hospitality down from £293k (June 15) to £198k (June 16)

 

Sponsorship & advertising down from £286k (June 15) to £211k (June 16)

 

Gate receipts down from £1.49 million to £1.15 million.

 

Some of these numbers aren't great at all.

[Robbie Earle's Perm]

Good to see trust has been restored.

 

 

Sent from my iPhone using onevalefan

[Robbie Earle's Perm]

Bar catering & hospitality down from £293k (June 15) to £198k (June 16)

 

Sponsorship & advertising down from £286k (June 15) to £211k (June 16)

 

Gate receipts down from £1.49 million to £1.15 million.

 

Some of these numbers aren't great at all.

 

I'd imagine bar and catering will be down to bringing the catering in house. Marketing has clearly always been an issue, the marketing team at that time were abysmal.

 

 

Sent from my iPhone using the onevalefan mobile app

[londonvale]

Yes I care because it's my club but seriously..

Football is a leisure activity/escapism from life.Thirty seven years ago I didn't care about our finances being published and honestly I don't now.Ive enough to deal with in my own life without analysing my teams accounts...

Im happy we've survived two admins..hate it that I've seen more defeats than wins but I could always be shallow and walk away.Say I won't watch my team and watch sky and say I support...Chelsea...Arsenal..etc...

[Santa]

Is there an entry for cash at bank and in hand on the balance sheet? I'm probably tired and need to go to bed.

[geosname]

I'd imagine bar and catering will be down to bringing the catering in house. Marketing has clearly always been an issue, the marketing team at that time were abysmal.

 

Sent from my iPhone using the onevalefan mobile app

 

Now then rep... you know you dont like speculation