Club accounts

[dishydave]

Despite all the criticism, it is heartening that the Shanahans are willing to "prop us up" to the tune of a further almost £3m loan.  An almost scary £5.2 million was owed (in June 2023, so it will, I suspect, be more now) to "Group undertakings" so I, for one say thank you to the owners for their largesse.
One interesting observation is the increase of nearly 30% in the number of people employed by the PV company. A business that is losing such large amounts would normally be looking to shed jobs to make savings, not increasing employee numbers by almost a third!  It would be interesting to know which of the company's activities these jobs have been added?

A lot of agency match day staff like stewards have all been brought in house to save money, I would imagine that is the reason behind the increase.

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[Bycarsbill]

1 hour 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. 
 

And who do you think is underwriting the loans?

[Bycarsbill]

1 hour ago, Fosse69 said:

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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Don't know--that's why I was posing the question.

[Bycarsbill]

8 minutes ago, dishydave said:

A lot of agency match day staff like stewards have all been brought in house to save money, I would imagine that is the reason behind the increase.

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Interesting Thank you.

[Powerline]

12 minutes ago, dishydave said:

A lot of agency match day staff like stewards have all been brought in house to save money, I would imagine that is the reason behind the increase.

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Doubt it, agency staff aren’t typically included in your employee numbers as they’re usually payed by the agency and the costs are invoiced to the company. It is possible though.

[dishydave]

Doubt it, agency staff aren’t typically included in your employee numbers as they’re usually payed by the agency and the costs are invoiced to the company. It is possible though.

That's why the numbers are up they are no longer paying high agency fees as they are now employed by the club

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[Packmoor_vale]

5 hours ago, TJHValiant said:

Actually a large proportion of the losses are interests on loans owed to her as I see it. So Carol’s kids will never starve with Vale around. 

Carols kids will never starve due to her starting a massive company that’s been sold for huge amounts of money of which she is putting a lot more than she already has put in 

But don’t let that stop u with your sarcastic <ovf censored> braindead comments 

 

 

[mr.hobblesworth]

I'm not really a finance kind of person but do these accounts cover the period where Carol said we were massively overspending and needed to turn the taps off for a bit? If so, would that mean we may be in a slightly better situation this season (or at least would have been if we hadn't had the pitch and the Crosby/ Flitcroft pay-offs to deal with)?

[dishydave]

I'm not a clever chap but I can't see any of these figures quoted in the accounts that are in the arrtical posted on here. Do we have an accountant on her who can shed some light on it.

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[Hitcher]

I think this might be the reason why we had a change of plan in last season's January transfer window.

Also I remember carol saying that they had to spend an extra £1-2m earlier than expected as we got promoted a year earlier than hoped for. Maybe this is one of the reasons for the latest figures.

Be interesting to see where we land next year. We've had 2-3 youth players sold for supposed decent figures. I guess if you can do that most years and they all have add ons then that is one way of becoming more sustainable.

[TJHValiant]

2 hours ago, Howjy04 said:

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.

That’s a good point. It was the final payment year. 

[Rodge]

Surprised the accounts haven’t been rejected by Companies House as somebody at the club’s accountants obviously forgot to untick the “Draft” box on their software.

[Walka003]

Actually a large proportion of the losses are interests on loans owed to her as I see it. So Carol’s kids will never starve with Vale around. 

You have missed out page 9 that refers to the loans owed to creditors after 1 year.
Those sentences refer to short term loans only  repayable within a year at 0%. Effectively that’s 1 year interest free. 
The Barclays loan at 2.5% and others are detailed at Page 9 under point 7 under amounts due after 1 year. 
That is debt to the club, not Carol as these are club accounts. 
 

You've lost me completely here. How does a loan to barclays at a small interest rate mean that a large proportion of losses are interest owed to Carol?

[TJHValiant]

22 minutes ago, Walka003 said:

You've lost me completely here. How does a loan to barclays at a small interest rate mean that a large proportion of losses are interest owed to Carol?

The interest may not be owed to Carol, it is owed to the creditors. My point is, it is the club in debt, not Carol personally. If it all goes wrong, the club goes bust, not Carol. 
 

Nothing sinister about that, it’s the case with any business but the idea she is some saviour putting herself on the line for Vale is wide of the mark. 

[ginginator]

1 hour ago, TJHValiant said:

The interest may not be owed to Carol, it is owed to the creditors. My point is, it is the club in debt, not Carol personally. If it all goes wrong, the club goes bust, not Carol. 
 

Nothing sinister about that, it’s the case with any business but the idea she is some saviour putting herself on the line for Vale is wide of the mark. 

Most clubs run that way, so Carol is the saviour, she owns the club. If all chairs/owners, added up over world football, the money owed to them. We could probably feed the world and save the planet at the same time.

Carol and the family own the club, they decide what losses to take and obviously they want to make the Vale viable/sustainable.  I see the income was not on the accounts, plus I feel some jobs have been restructured from SS. Spending under SCMP is related to turnover. 

If someone else wants to be a saviour, then I do not see any past Carol and Kevin?

Hopefully when we stay up, we may get an update on some of these ?'