Club accounts

[TJHValiant]

15 minutes ago, Bycarsbill said:

Perhaps some of the worst critics who make some of the vilest comments about her, should bear this fact in mind?!  Okay, she's got some (many?) things wrong, but that's a massive financial crutch she is providing to keep the club afloat!

It’s the Vale that are in debt. Those accounts are the club’s, not Carol’s. If we were getting bankrolled by her, there would be no need for the debt or the creditors outlined in page 9 of the account. 
 

All she is doing is taking out loans. Not in her name, but the club’s. 
 

[JoeB2]

4 minutes ago, TJHValiant said:

It’s the Vale that are in debt. Those accounts are the club’s, not Carol’s. If we were getting bankrolled by her, there would be no need for the debt or the creditors outlined in page 9 of the account. 
 

All she is doing is taking out loans. Not in her name, but the club’s. 
 

What did you think covered the £3.4m loss?

What on Earth are you going on about? 

[Raveninblack]

4 minutes ago, TJHValiant said:

It’s the Vale that are in debt. Those accounts are the club’s, not Carol’s. If we were getting bankrolled by her, there would be no need for the debt or the creditors outlined in page 9 of the account. 
 

All she is doing is taking out loans. Not in her name, but the club’s. 
 

I am sorry to say the debt in the accounts is extremely worrying as tge club has to pay the interest on the debt and I am worried that relegation could put further damage to the accounts as season ticket sales will drop and television revenue will diminish and put further pressure on the owners but I put the whole episode of debt into the hands of Flitcroft who did exactly the same at Bury and they went bankrupt and whilst we aren’t relegated yet these are worrying times

[Fosse69]

It's the 30% increase in numbers from the previous year that's the truly amazing figure.  Where have they all been deployed? 

Only the club can say, I would think they would be mainly match day staff. Are we doing more in-house?

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[JoeB2]

7 minutes ago, TJHValiant said:

It’s the Vale that are in debt. Those accounts are the club’s, not Carol’s. If we were getting bankrolled by her, there would be no need for the debt or the creditors outlined in page 9 of the account. 
 

All she is doing is taking out loans. Not in her name, but the club’s. 
 

We owe 8.5m, interest free, to either parent companies (Synsol Holdings) or companies under common control (Synectics, I imagine).

I’ve got no idea where you’ve plucked this concept that Carol is borrowing millions from the bank against the club and charging interest.

The loans are money owed to Carol’s businesses, which she is well aware she is unlikely to see repaid. 

[TJHValiant]

3 minutes ago, JoeB2 said:

What did you think covered the £3.4m loss?

What on Earth are you going on about? 

Nobody has covered it. It’s an outstanding loss. The 3.4 million is debt owed by the club. It has not been paid off by Carol. That’s clear from reading the accounts. 
 

There seem to be some people out there who think Carol is personally absorbing the losses. This is totally untrue. The losses in the accounts are covered by the loans and our creditors. Carol is one such creditor, but it isn’t free money. Page 9 outlines that we owe a lot with loans in excess of a year. Which means rolling payments that will be compounded into next years figures and beyond. 

[JoeB2]

The debt is mostly interest-free to Carol! We have a bank loan of 5 grand ffs.

Why are we making up that we’re in interest-charged debt to banks. Absolute nonsense.

Port Vale FC is, like 89/92 football teams, an insolvent company reliant on the goodwill of an owner to write off losses via directors loans.

[JoeB2]

Just now, TJHValiant said:

Nobody has covered it. It’s an outstanding loss. The 3.4 million is debt owed by the club. It has not been paid off by Carol. That’s clear from reading the accounts. 
 

There seem to be some people out there who think Carol is personally absorbing the losses. This is totally untrue. The losses in the accounts are covered by the loans and our creditors. Carol is one such creditor, but it isn’t free money. Page 9 outlines that we owe a lot with loans in excess of a year. Which means rolling payments that will be compounded into next years figures and beyond. 

Covered by interest free loans from Carol! 8.5m worth of them. 

[TJHValiant]

2 minutes ago, JoeB2 said:

The debt is mostly interest-free to Carol! We have a bank loan of 5 grand ffs.

Why are we making up that we’re in interest-charged debt to banks. Absolute nonsense.

Port Vale FC is, like 89/92 football teams, an insolvent company reliant on the goodwill of an owner to write off losses via directors loans.

Read page 9. Barclays, ten year loan. From June 2020. That’s a loan, 2.5% interest to a bank. Not nonsense. 

[JoeB2]

1 minute ago, TJHValiant said:

Read page 9. Barclays, ten year loan. From June 2020. That’s a loan, 2.5% interest to a bank. Not nonsense. 

120k worth? 

She’s lent us 8.5m interest free ffs

[Powerline]

I wasn’t exactly expecting it to be good but that’s a lot worse than I thought it would be. We are not very liquid at all. Going to be reliant on Carol pumping more money in.

[Powerline]

Also find the increase in employees insane, must be a pretty big wage bill.

[Howjy04]

Wasn’t that year when the final payments were made to Smuthwaite and when Carol said we had 5 years budget in 4 years?Id expect 23/24 to be better.I said when she bought the Vale as long as Synectics is doing well Vale will be fine.

[osprey]

5 minutes ago, Powerline said:

Also find the increase in employees insane, must be a pretty big wage bill.

Probably all the medical staff we need for our wounded players 😄

[Howjy04]

Just now, Howjy04 said:

Wasn’t that year when the final payments were made to Smuthwaite and when Carol said we had spent 5 years ,budget in 4 years?Id expect 23/24 to be better.I said when she bought the Vale as long as Synectics is doing well Vale will be fine.