Report This Message
Are you sure you want to report this post?

Re: 2016 accounts
Posted by: Doogie'sGhost
Date: 14/09/2017 12:12
Jack of all Trades
Why has the liabilities figure shot up to £3.7 million, are there provisions included for future right offs/losses?
On this basis did we loose £1.8 Million in the financial year?

No, the 'creditors due within one year' figure shot up because the £2.1m owed to Peter Johnson is now included in the £3.7m, whereas in the previous year it was included as a long term creditor instead. The third last paragraph on page 2 explains a bit more, and this amount will be written off (rather than being physically paid to PJ) in the 2017 accounts.

We actually made a tidy profit on the sale of land at Ingleborough (reflected in the 2015 accounts). That money is largely what's been financing us at our current level over the last year or two, which is why it's critical that the club develops other sources of income because this money will obviously run out. The accounts do say that the Palios are actively seeking further investment, and I guess China is a major part of that aim going forward.

Well done, nice analysis. It just proves how useless it is trying to analyse top line figures like this. The devil is always in the detail, with some losses and write-offs being purely paper transactions.

You may optionally give an explanation for why this post was reported, which will be sent to the moderators along with the report. This can help the moderator to understand why you reported the post.

We record all IP addresses on the Sportnetwork message boards which may be required by the authorities in case of defamatory or abusive comment. We seek to monitor the Message Boards at regular intervals. We do not associate Sportnetwork with any of the comments and do not take responsibility for any statements or opinions expressed on the Message Boards. If you have any cause for concern over any material posted here please let us know as soon as possible by e-mailing