Club accounts

[Iron Curtain]

Summary of all changed on companies house:

Ian Lewis changed from Director to Non-exec director

Katherine Beardmore removed from any director role 

Robert moorhouse changed to none exec director

Matthew Hancock added as a director 

Kevin changed to none-exec director

[Powerline]

2 hours ago, Iron Curtain said:

Summary of all changed on companies house:

Ian Lewis changed from Director to Non-exec director

Katherine Beardmore removed from any director role 

Robert moorhouse changed to none exec director

Matthew Hancock added as a director 

Kevin changed to none-exec director

Do you know who Ian Lewis, Katherine Beardmore and Robert Moorehouse are? Never heard of them before

[Conrad]

19 minutes ago, Powerline said:

Do you know who Ian Lewis, Katherine Beardmore and Robert Moorehouse are? Never heard of them before

I could be wrong but I think Katherine Beardmore is Carols daughter.

[Walka003]

Given that the ugly question of finances is raising it's head again, it's interesting that Synectics have just released there accounts for the year to August 2022. These are full audited accounts so give a lot more detail than the set that the club release.

The important bits from a club perspective:

1) profits are down slightly but revenue is up, still got a very healthy looking balance sheet, however cash is dwindling, down £4.2m in a year.

2) the directors specifically call out "increased loans to a related party" as one of the main reason for this decrease in cash. The cash flow suggests that they lent 2.9m in loans.

3) Total loans owed by related parties stands at £7.1m at Aug 2022. Note 27 suggests this is owed by two separate companies, one owing £3.3m and one owing £3.8m. It doesn't show which of these is vale, it could even be both in the foundation and the club.

4) one random thing is that there wages costs have gone up £1m despite only having an average of 3 more staff.



All in all they look in pretty good health.