Latest accounts

[Family Stand Terrier]

Personally I have major trouble keeping up with the amount of different figures (& the apparent time periods they span) coming from the club/Smurf, I very much doubt he knows accurately what he's talking about half the time. The figures we hear about probably do/did exist somewhere, but I honestly think he speaks without thinking a lot, & most of what he says when under any kind of pressure is completely incorrect & mixed up.

I agree, which further highlights his lack of professionalism and competence.

[CAVALIER]

So is anyone sticking the accounts on to here?

[Santa]

Briefly speaking to Norman on Friday he said the club made £400,000 profit last year of which £200,000 was the payments made to the club as 'Exclusivity payments'

 

After a discussion about his Directors loans he also said he would wipe them from the accounts/balance sheet and convert them to 'equity' i,m sure the Accountant people on here would know what that means!

 

The next installment of the Hugil transfer money is due this coming December (£600k)and would be put into this years playing budget now didn't ask if he was putting it in this summer or it would be available for next Jans transfer window

 

He is looking forward to Aspins plans this summer and re-iterated that the budget would be total walk-ups this season plus the season ticket money for next season

 

He also told me who the 'backstabber' was but not to say publicly!

 

Don't shoot the messenger and take everything Iv'e said how you want

Thanks for sharing that John, quite interesting, particularly the bit about converting his loans into equity .

 

At year end - 30.06.17 - he'd reduced his loan balance by around £200k compared to where it was at 30.06.16. He could have done this in a number of ways. If he was converting it to equity I'd assume there would have to be something mentioned on the recent confirmation statement submitted to Companies House, however there isn't any evidence of this as far as I can see.

 

Of course the club equally could have paid him £200,000. That would obviously be his prerogative but also a bit disappointing during a relegation season when you look at what the margin was between staying up and going down.

[Santa]

So is anyone sticking the accounts on to here?

 

https://beta.companieshouse.gov.uk/company/08876768/filing-history

 

Top item on the list.

 

Probably not a great deal of conclusions you can draw from them, well unless he leaks the P&L on here again.

[CAVALIER]

The VAT payable is interesting

[Howjy04]

Turning DL into equity could be a new share issue plus the books look better with the loan not in them.

[cheshirevaliant]

The VAT payable is interesting

 

As is trade debtors. Might be a mental block on my part, but how can a football club be owed in excess of a quarter of a million quid at any given point?

[Santa]

Possibly the unpaid instalments of transfer fees.

[CAVALIER]

I agree on the DRs. Re the VAT, everything else realistically seems fairly equal, but the VAT rising so much sense a bit unusual

[toyahw]

What's the goodwill we're paying off over ten years? Where is any evidence Norman paid for paying up contracts at his own expense for the Bruno fiasco? There is no evidence here that he has been doing anything like he says he has been doing.

 

319 employees on average.... why?

 

I'm no accountant but not thick and this looks to me like the story many of us suspected. He is not putting in anything like the amount he claims... if anything.

 

Converting directors loans to equity makes the balance sheet look better than it is and is fiscally favourable if things go t 1 ts up.

[Santa]

I agree on the DRs. Re the VAT, everything else realistically seems fairly equal, but the VAT rising so much sense a bit unusual

I’m not sure, maybe there’s a VAT expert somewhere that can help you.

 

Port Vale Retail was liquidated and the club shop was brought back in house which would probably account for some of the difference.

[Hagrid]

I ask anyone on this forum, who has in the past supported Mr Smurthwaite, to justify what appears to be him taking £200k out of the club in a relegation season (considering what Santa says of there being no proof of it being converted to equity).

 

This is a season in which he gambled the future of the club on a catalogue scheme, made £250k in January, compensated for this by signing Leo Fasan and Scott Tanser, and promised to fund all of his own mistakes. In addition, making a large quantity of money off of prospective buyer exclusivity periods (none of which came to anything), which he then proceeded to blatantly lie about at a fans' Q&A.

 

Over to you.

[Hagrid]

Backstabber is Fradley.

 

Correct. Should be removed from his position with immediate effect.

[Doha]

************ traitor shouldn't be there in the first place.

[Hagrid]

Up the Vale, 4 Eva.

 

Unless you get drunk at an event and proceed to slag off club legend and all round decent bloke and manager Neil Aspin.

 

Then its not Up the Vale, 4 Eva. Not on yer whatsapps, yer snapchats, not even on yer letters.

 

Interestingly couldn't see the *** at Crewe; saw the Blue one and Rudgey. Has he quietly been dispensed with, his 6 months of living it up in tatters as he returns to Bovril in the Bycars? One can dream.