Accounts are out - where is Micalijo?

[Ollessendro]

Remember I did some, very crude, calculations on the salaries Sothall? (http://www.s24su.com/forum/showthre...es-sustainability-and-implications&highlight=). It is based on (educated) guess work, but I feel that most of the assumptions are reasonable. I came to the conclusion that we were unliekly to have a wage bill higher than £10m or lower than £5/6. More realistically I would say that our basic wage bill for this season is around £8m. It should be noted that this does not include loan players or bonuses etc. I think £8m is quite realistic and just cannot see how we would be paying £12m. Regardless with the contracts of big earners finishing during the summer, then I feel we will have no problem meeting the 'fair play' rules.

 

[Nick Jansky]

Does anybody know if the full accounts are available to look at on the internet anywhere?

You will be able to download them from Companies House website, although there can sometimes be a bit of delay before they land there. You will have to pay a fee though. But, as with the accounts of all limited companies, they are a matter of public record.

---------- Post added at 01:56 PM ---------- Previous post was at 01:50 PM ----------

Just had a quick look at the 2010 accounts. Wages & salaries for the football club were £15m, down from £18.3m the year before. This includes all staff of the football club, not just players. Wages & sals for the Plc (which owns the football club) were £17.4m, down from £22.4m the year before. The football club figures are included in the total for the Plc.

 

[bladeinspaceandtime]

Wish I had no money like him

It's not that he hasn't got any money, just none he wants to put in. To be fair his worth is based on the paper value of his business interests, he may not have much ready cash available. Still, why get involved with a football club and not expect it to become a bottomless pit for your money?

 

[Tuns]

You can argue forever about accountancy reports and what they really show but some thoughts on McCabe's tenure...

He clearly made big mistakes and bad decisions on football and non football issues

He not so much pumped money in for success as picked up the tab when things under his watch went wrong (for various reasons)

His motives were both driven by his own business interests and that of the interests of the club (the balance of which I don't know).

He has been unlucky.

His tenure has seen us massively under achieve on the pitch. One year in the top flight is not good enough.

He did well on the Tevez case - though we should have been reinstated.

We have far more debt than when he took over and relatively little to show for it

The promise of building a team around the academy products has not been kept. Indeed we sell prospects quicker than ever

He may have a had a few years of being less interested in the Blades than he was - I'm hoping he is rediscovering his desire

He worked hard to build up the ST base then sat back and watched it crumble without a fight.

The bloody pillars are still on the kop - though he put a roof on the bogs (against my wishes)

Obviously I wanted him to be a great Chairman especially after all the bull before him and I think with a bit of luck he nearly was but in the final analysis he looks like going down as another failure unless he can work some magic soon.

 

[norfolkblade]

So are you ignoring the external independent auditors ?

They only know what an accountant tells them through various working papers and meetings, so in a nutshell, yes.

 

[axel smeets]

That's bang on the nose bladeinbolton. If I had say, £100m in the bank, I'd be happy to put a certain amount into SUFC. However, you can't expect to ever see it back, and if you do see it back, you can't do so without wrecking the joint in the process.

 

[Beighton_Blade]

They only know what an accountant tells them through various working papers and meetings, so in a nutshell, yes.

Why not? Everybody else does.

^Which goes to prove you both know absolutely bugger all about accounting, auditors and financial reporting...so why even attempt to argue against something with biased and invalid opinions when you have absolutely zero knowledge on the subject!? And even more so avoid disputing the work of independant professionals who happen to be both well paid but more importantly, held accountable for their work!

To sumarrise - stop talking crap about stuff you know nowt about!!

UTB!

 

[raul]

Running many slush funds atm Beighton??

 

[Studge]

They only know what an accountant tells them through various working papers and meetings, so in a nutshell, yes.

You obviously do not understand modern day auditing

---------- Post added at 09:13 PM ---------- Previous post was at 09:04 PM ----------

^Which goes to prove you both know absolutely bugger all about accounting, auditors and financial reporting...so why even attempt to argue against something with biased and invalid opinions when you have absolutely zero knowledge on the subject!? And even more so avoid disputing the work of independant professionals who happen to be both well paid but more importantly, held accountable for their work!

To sumarrise - stop talking crap about stuff you know nowt about!!

Sorry missed your post which I fully endorse. I assume in their world theres no such thing as the QAD coming to review your files with the intention to rip them apart. As I understand it the first rule of auditing is scepticism

 

[blade too long]

2 years ago our overall debt was 57 million
so 32 million overall now shows weve made some inroads into , what are mortgage payments , business style, and the loss down to 13 from 18
so the Tevez money and sale of hotel and business centre will be part of this reduction
It would have been further reduced but for the mistakes hes apologised for on managers and loan players , but hey ho

and all without Ocean finance

Its not all bad , not great , but not all bad

 

[alcoblade]

2 years ago our overall debt was 57 million
so 32 million overall now shows weve made some inroads into , what are mortgage payments , business style, and the loss down to 13 from 18
so the Tevez money and sale of hotel and business centre will be part of this reduction
It would have been further reduced but for the mistakes hes apologised for on managers and loan players , but hey ho

and all without Ocean finance

Its not all bad , not great , but not all bad

If a horse shits on my head, an most of the turd falls off, it's not all bad, not great, but not all bad.....

£32M in debt with all the assets sold off, gates falling and a third division team on the field. It's not bad. It's terrible. Don't let McCabe off for the mess he's made. We need him to write off the £32M debt.

The ONLY good news I could see was that we're now free of bank debt. When McCabe takes the hit on the rest, I'll raise my glass to him. Just.

UTB

 

[blade too long]

as I said ,not great
but not worse than it was, by a long way

the overall debt is probably no worse than most
Wednesday arent letting on how they are doing yet, unlikely theyll be in profit either

cant see them buying Harrods

 

[Bubbleburp]

I've been following the debate? about these accounts over on Sheffield Forum .....and there is a poster on there who has seen the accounts ..(ok ....he's a wendy) ..but he keeps insinuating that come February ... all the Blades Fans will be up in arms about some realisation !!.
Now, whilst I'm sure I'm doing the right thing in taking it all with a huge dollop of salt ....I can't help but keep wondering why February in particular ??? Any ideas ?

 

[DuncDisorderly]

Unfortunately, for all the yada, yada, yada, we keep coming back to the inescapable conclusion that Kevin McCabe owns the club with little sign that that will change anytime soon, he can pretty much do what he chooses with it, and the numbers in the accounts are really little more than conjecture for the amateur accountants and conspiracy theorists.

So long as the club has enough cash to trade then the rest is just horseshit.

 

[alcoblade]

Unfortunately, for all the yada, yada, yada, we keep coming back to the inescapable conclusion that Kevin McCabe owns the club with little sign that that will change anytime soon, he can pretty much do what he chooses with it, and the numbers in the accounts are really little more than conjecture for the amateur accountants and conspiracy theorists.

So long as the club has enough cash to trade then the rest is just horseshit.

There's no amateur accountancy from me Dunc. I've repeated what they told me. £32M of debt, falling income and a third division team. As a result, we can't afford a keeper who can catch the ball. For you to suggest that none of it matters, because 11 humans enter the turf every Saturday, is really just a tad too planet Dunc, no?

UTB

 

[grafikhaus]

Wednesday arent letting on how they are doing yet, unlikely theyll be in profit either

cant see them buying Harrods

No, they'll probably keep lying to HMRC, lying about their crowds and generally fiddling the system. It's what they do.

 

[norfolkblade]

^Which goes to prove you both know absolutely bugger all about accounting, auditors and financial reporting...so why even attempt to argue against something with biased and invalid opinions when you have absolutely zero knowledge on the subject!? And even more so avoid disputing the work of independant professionals who happen to be both well paid but more importantly, held accountable for their work!

To sumarrise - stop talking crap about stuff you know nowt about!!

UTB!

I know bugger all about accounting and the like? Hmm, I had wondered what it was that I was being paid to do for the last 5 years

 

[beightonblade]

McCabe has us by he balls ............ he can do what the fuck he likes and will !

give me a group of companies and i can make the profits/losssses appear where i want ! simples

 

[anglian blade]

^Which goes to prove you both know absolutely bugger all about accounting, auditors and financial reporting...so why even attempt to argue against something with biased and invalid opinions when you have absolutely zero knowledge on the subject!? And even more so avoid disputing the work of independant professionals who happen to be both well paid but more importantly, held accountable for their work!

To sumarrise - stop talking crap about stuff you know nowt about!!

UTB!

Yes i know nothing - I am only a qualified accountant, with 30 plus years experience on the board of companies including listed ones.

 

[Ollessendro]

Yer fooking know nowts. I did accountancy AS level (gorra N) and the accounts have been fiddled. Narr stop talkin bollocks!?

 

[JJ Sefton]

Yer fooking know nowts. I did accountancy AS level (gorra N) and the accounts have been fiddled. Narr stop talkin bollocks!?

I was Treasurer of a Folk Music Society at uni. Im working on a seventeen verse ballad about McCabe and the freehold.

 

[Darren]

I was Treasurer of a Folk Music Society at uni. Im working on a seventeen verse ballad about McCabe and the freehold.

I didn't thought you could get any more uncool.

I was wrong

 

[DuncDisorderly]

There's no amateur accountancy from me Dunc. I've repeated what they told me. £32M of debt, falling income and a third division team. As a result, we can't afford a keeper who can catch the ball. For you to suggest that none of it matters, because 11 humans enter the turf every Saturday, is really just a tad too planet Dunc, no?

UTB

We have £32m of debt. OK, so what? The baliffs won't come for me.
Can we afford the debt? Well yes, if Kev Mc keeps sponsoring it as he is doing.
We have a third division team. Glad you spotted that. Its pretty widely accepted how we got here, but the problems can't be put right in a snap. It took four or five seasons to cock it up to the present level and it will take at least a season or two before it can be put right, it might not even be right in twice that time.

Does any of it matter? Yes, even on Planet Dunc...but what are you going to do, change time, change history, buy the club yourself and be our saviour. I'm tired of all the raking over of the coals, reaffirming the apportionment of blame yet again...(two active threads plus this today) and secretly hoping that we all wake from our collective nightmare to find we're still in the PL after all? Its enough already. Stop being a victim and move on...

 

[blade too long]

Now, whilst I'm sure I'm doing the right thing in taking it all with a huge dollop of salt ....I can't help but keep wondering why February in particular ??? Any ideas ?

Well Milan Mandaric is due in court end of jan and will probably sent to jail in february , so well all be raising our arms

---------- Post added at 07:06 PM ---------- Previous post was at 06:48 PM ----------

It seems Scunthorpe United have made a profit of 1 million this year , mainly due to selling Hooper for 2.4 million
What was of interest was their total wage bill at 5.5 million
a third of ours , but half of what YaYa Toure gets for 1 season on his own

 

[alcoblade]

We have £32m of debt. OK, so what? The baliffs won't come for me.
Can we afford the debt? Well yes, if Kev Mc keeps sponsoring it as he is doing.
We have a third division team. Glad you spotted that. Its pretty widely accepted how we got here, but the problems can't be put right in a snap. It took four or five seasons to cock it up to the present level and it will take at least a season or two before it can be put right, it might not even be right in twice that time.

Does any of it matter? Yes, even on Planet Dunc...but what are you going to do, change time, change history, buy the club yourself and be our saviour. I'm tired of all the raking over of the coals, reaffirming the apportionment of blame yet again...(two active threads plus this today) and secretly hoping that we all wake from our collective nightmare to find we're still in the PL after all? Its enough already. Stop being a victim and move on...

"£32M in debt - so what" - really Dunc? We can't afford a new keeper in the third division - that's so what.


If you're tired of it then don't be inclined to comment. If you comment, expect your points to be debated. From the cmfort of a walk in the park, it probably doesn't matter. From the away end at Stevenage it does. To me, anyway. Let's face it Dunc, they could dismatle the club brick by brick and you would clap all the way. You have never once, to my recollection, criticised a single thing the club has done.

None of our opinions matter. You want to praise as the disasters begin, then claim it doesn't matter when they strike. I want to say it how I see it. I once believed in what we wre doing. I was wrong. You seem determined to be forever blissfully ignorant to it, incapabe of seing anything wrong. You call it water under the bridge, but seem inclined to smile when the dam bursts in the first place.

Out of interest, your response on another thread gave me the opinion that you'd become an occassional observer these days. Am I wrong?

UTB

 

[DuncDisorderly]

If you're tired of it then don't be inclined to comment.

My comment is that I'm tired of it. That is a valid comment.

Let's face it Dunc, they could dismatle the club brick by brick andyou would clap ll the way.

Yes, clap clap clap, thats me. You just dont get it...

None of our opinions matter. You want to priase as the disasters unfold, then claim it doesn't matter when they do. I want to say it how I see it.

You are welcome to your opinion. I've moved on...

Out of interest, your response on another thread gave me the opinion that you'd become an occassional observer these days. Am I wrong?

Changed my mind. I believe that is permitted. My involvement in the board is now directly proportional to how much I feel I want to post. Isn't that wierd..?

Anyway boredom is taking over again, and I think thats it for me on this thread.

UTB also..

 

[alcoblade]

I've moved on...

..

You haven't moved on. You haven't moved at all. Everything's rosey. It always was.

Changed my mind. I believe that is permitted. My involvement in the board is now directly proportional to how much I feel I want to post.

I was referring to being an ocassional observer at the lane, not on here.

UTB

 

[blade too long]

another way of looking at it

wednesday had a static debt of 26 million for a decade
Milan Mankybits, pays a quid , gives the co op 12 mill or so who write off a debt , hes a hero in a SHABBY STADIUM

WE REBUILD OUR STADIUM NEW STANDS ROOF , GENERAL BITS TO MAKE IT ULTRA MODERN GET A 59 MILLION OVERALL DEBT

WE PAY OFF 27 MILLION IN 2 YEARS , HAVE A GREAT GROUND , AND WE HAVE PEOPLE WANTING TO HANG HIM

DESPITE MORE THAN TWICE THE INPUT and the 32 mill is a long term debt
one Wednesday must match to upgrade their shit hole

 

[alcoblade]

another way of looking at it

wednesday had a static debt of 26 million for a decade
Milan Mankybits, pays a quid , gives the co op 12 mill or so who write off a debt , hes a hero in a SHABBY STADIUM

WE REBUILD OUR STADIUM NEW STANDS ROOF , GENERAL BITS TO MAKE IT ULTRA MODERN GET A 59 MILLION OVERALL DEBT

WE PAY OFF 27 MILLION IN 2 YEARS , HAVE A GREAT GROUND , AND WE HAVE PEOPLE WANTING TO HANG HIM

DESPITE MORE THAN TWICE THE INPUT and the 32 mill is a long term debt
one Wednesday must match to upgrade their shit hole

Sorry fella, but that just isn't right. After the plusses and minuses, the upshot is for £32,000,000 we've filled in one corner and been relegated a division.

"AND WE HAVE PEOPLE WANTING TO HANG HIM "..

That's why.

UTB

 

[raul]

Ultra modern? Have you been on the Kop?