Club accounts

[Walka003]

The club have released the accounts for the year ending June 2023, Kieran Maguire usually does a deep dive on club accounts so that might be out later today but the highlights (or lowlights) include:
 
1) Total losses for the year - £3,396,024
 
2) Cash balances dropped by £635,737 to £185,931
 
3) Monies owed to the Shanahans or there related companies up £2,899,240 to £8,451,296
 
4) Average number of employees up by 73 to 319 people
 
5) Loans and other borrowing owed to bank up slightly to 121k

[Walka003]

PORT VALE FOOTBALL CLUB LIMITED filing history - Find and update company information - GOV.UK

FIND-AND-UPDATE.COMPANY-INFORMATION.SERVICE.GOV.UK

Anymore interested can find the info here

[JRC]

Really not pretty reading. Divide the losses by the ticket price then 23 league games .... we need to increase attendance by 6152 just to breakeven. We didn't get 12000 gates under Rudge!

[ollyandpatch]

Although I don't have any sort of accountancy qualifications the fact that we now pay 319 people instead of 79 jumps out at me ! Some will be minimum wage and some will be well paid, but an average of say 25k a year equates to £6 million !

 

[MowingMyLorneStreet]

3 minutes ago, ollyandpatch said:

Although I don't have any sort of accountancy qualifications the fact that we now pay 319 people instead of 79 jumps out at me ! Some will be minimum wage and some will be well paid, but an average of say 25k a year equates to £6 million !

 

The average number of employees has gone UP by 79, it hasn't gone From 79 to 319.

We do have a lot more employees than other similarly sized clubs though

[philpvfc]

73, not 79. Significant increase none the less.

[MowingMyLorneStreet]

£850k spent on Fixed Assets this year.

Another £3m spent by Carol, now up to £13m since she bought the team

[ollyandpatch]

2 minutes ago, MowingMyLorneStreet said:

The average number of employees has gone UP by 79, it hasn't gone From 79 to 319.

We do have a lot more employees than other similarly sized clubs though

Now you know why I didn't do accountancy!

Check the details folks. !🙃🤪

[ollyandpatch]

Does anybody who buys a lower league club ever make any money?

Good job Carol and Kevin love the club !

[MelbourneValiant]

What on earth has this cash been spaffed on?

[philpvfc]

55 minutes ago, MelbourneValiant said:

What on earth has this cash been spaffed on?

Well, we’ve paid a lot off due to bad decisions.

[TJHValiant]

Peterborough are only £5 million more in debt than we are, but guess what? If they get to the champ they will pay that off while ours will increase or worse in LG2. 
 

It pays to spend money on a good squad. 

[JRC]

1 hour ago, MowingMyLorneStreet said:

The average number of employees has gone UP by 79, it hasn't gone From 79 to 319.

We do have a lot more employees than other similarly sized clubs though

I'd imagine a lot are part-time matchday workers.  Has stewarding been insured?

[TJHValiant]

1 hour ago, ollyandpatch said:

Does anybody who buys a lower league club ever make any money?

Good job Carol and Kevin love the club !

Not really. Which is why you shouldn’t buy a lower league club to remain one. You need to either spend the money to get to the Champ or leave. 

[valefan16]

Big numbers, has to also be noted these figures only cover until June 2023 so dont include this season's figures at all do they?