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Accounts


cheshirevaliant

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If anyone is interested, the accounts for the year ended 30 June 2018 (last season) are on Companies House website. https://beta.companieshouse.gov.uk/company/08876768/filing-history

 

Quick scan through suggests Smurthwaite's loan reduced by £400k last season.

 

We made a profit of around £1m (how does this tie in with Smurthwaite's claim about putting all that money in if he has reduced his loan and retained earnings have gone up?)

 

Number of employees reduced from 319 to 199. I assume the extra 120 were all the goalkeepers we had during the relegation season.

 

What does the £112,500 addition to freehold property represent, if the shop and the ground are separate to the football club?

 

 

Being honest, I can't see any viable reason how Smurthwaite has valued the football club as high as he has, unless something dramatic has changed this season.

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Quick scan through suggests Smurthwaite's loan reduced by £400k last season.

 

We made a profit of around £1m (how does this tie in with Smurthwaite's claim about putting all that money in if he has reduced his loan and retained earnings have gone up?)

Especially when you bear in mind that there is a £185k bull**** asset depreciation skewing the figures slightly.

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If the Directors loan is just under two and a half million and the ground is worth about one and a half then surely NS will be happy to accept four million and walk away from us altogether?

Considering the loan money on the accounts is due to his mismanagement of the club, he will be lucky to get four million.

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If the Directors loan is just under two and a half million and the ground is worth about one and a half then surely NS will be happy to accept four million and walk away from us altogether?

Considering the loan money on the accounts is due to his mismanagement of the club, he will be lucky to get four million.

 

I think he would be happy with 4 million in one lump sum. It’s finding someone to do that.

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Don’t forget that he has had another 9 months since these accounts to take a lot more money out of the club - Sunderland TV, Checkatrade money etc. Think all the Hugill money would have been accounted for by the time of these accounts but that does not stop him taking the money out as it would not have all been in the bank by 30/06/2018.

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