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Post by observer on Jan 31, 2016 13:55:48 GMT
I've seen various posts suggesting we have a "deficit" or "loss" of 350k to cover and that's why we may be selling Nasser
I've never seen mention of this before and I did a quick google search for info about a loss or deficit recently being announced but couldn't find anything
Have I missed an announcement or have accounts been filed recently I haven't seen?
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Post by Deleted on Jan 31, 2016 14:10:48 GMT
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Post by cbh1 on Jan 31, 2016 14:11:39 GMT
The last AGM was just after Christmas but unfortunately I was unable to attend so don't know what was discussed with regard to the accounts that were circulated in advance.
Without digging out my set of accounts I can't recall the exact loss for the year but it was in the order of £300k-£350k.
There was a piece in the Burton Mail at the time where the chairman was quoted as saying that we had pushed the boat out a bit in search of promotion.
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Post by observer on Jan 31, 2016 14:43:13 GMT
The last AGM was just after Christmas but unfortunately I was unable to attend so don't know what was discussed with regard to the accounts that were circulated in advance. Without digging out my set of accounts I can't recall the exact loss for the year but it was in the order of £300k-£350k. There was a piece in the Burton Mail at the time where the chairman was quoted as saying that we had pushed the boat out a bit in search of promotion. Ok - so we have made that loss in the League winning season. Fair enough. Normally there would be a newspaper report about it. Haven't found anything yet |
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Post by Deleted on Jan 31, 2016 15:07:57 GMT
The last AGM was just after Christmas but unfortunately I was unable to attend so don't know what was discussed with regard to the accounts that were circulated in advance. Without digging out my set of accounts I can't recall the exact loss for the year but it was in the order of £300k-£350k. There was a piece in the Burton Mail at the time where the chairman was quoted as saying that we had pushed the boat out a bit in search of promotion. Just after the Christmas just gone? I am also surprised not to have heard anything. I don't recall the accounts last year showing such a loss. Either way, we will find out soon enough. |
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Post by Deleted on Jan 31, 2016 15:09:20 GMT
The last AGM was just after Christmas but unfortunately I was unable to attend so don't know what was discussed with regard to the accounts that were circulated in advance. Without digging out my set of accounts I can't recall the exact loss for the year but it was in the order of £300k-£350k. There was a piece in the Burton Mail at the time where the chairman was quoted as saying that we had pushed the boat out a bit in search of promotion. Just after the Christmas just gone? I am also surprised not to have heard anything. I don't recall the accounts last year showing such a loss. Either way, we will find out soon enough. Welcome to the wonderful mysterious world of football  |
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Post by cbh1 on Jan 31, 2016 15:16:01 GMT
It was definitely in the Burton Mail. It was one of the Saturday editions in late November or early December. Whether it is online I don't know but I saw it in the printed version. It was about two days after I received my accounts in the post.
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Post by Deleted on Jan 31, 2016 15:18:10 GMT
It was definitely in the Burton Mail. It was one of the Saturday editions in late November or early December. Whether it is online I don't know but I saw it in the printed version. It was about two days after I received my accounts in the post. The truth is out there cbh1 |
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Post by NobodyGood on Jan 31, 2016 16:15:59 GMT
No accounts filed for May-15 yet.
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Post by cbh1 on Jan 31, 2016 16:21:37 GMT
The AGM was Tueday 29th December when the accounts were presented.
I am sure they will be on there soon as they have until 29th Feb to file them.
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Post by observer on Jan 31, 2016 16:47:51 GMT
The AGM was Tueday 29th December when the accounts were presented. I am sure they will be on there soon as they have until 29th Feb to file them. That makes sense now They presented accounts to discuss prior to filing them Not many clubs would do that Is this to shareholders then or committee members or general public out of interest? It's good the club would be so open |
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Post by cbh1 on Jan 31, 2016 16:54:55 GMT
It was the annual general meeting for shareholders. Normally I would have gone but I had something else on that evening at the last minute so could not go.
The accounts would have to be proposed and seconded for approval and voted on at the AGM before they can be filed.
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Post by observer on Jan 31, 2016 17:26:07 GMT
It was the annual general meeting for shareholders. Normally I would have gone but I had something else on that evening at the last minute so could not go. The accounts would have to be proposed and seconded for approval and voted on at the AGM before they can be filed. Thanks Good job we got promoted You wouldn't want to lose that much and stay in Div 2 |
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Post by NobodyGood on Jan 31, 2016 17:51:41 GMT
If you fancy a laugh have a look at Coventry's accounts for 2014...
Loss of £70,269,629....Though there was a large exceptional charge... So it was in fact only a loss of £9,371,513.
Lol. Insane numbers.
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Post by Deleted on Feb 4, 2016 16:10:21 GMT
Big club. Big numbers.
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Post by etonparker64 on Feb 4, 2016 16:22:50 GMT
not big enough to support that sort of loss
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Post by observer on Feb 4, 2016 18:59:46 GMT
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Post by Deleted on Feb 4, 2016 19:01:14 GMT
Coventry City will never recover from their current position, its their natural level to be honest. In so much debt and without a home you have to feel sorry for the fans that the club has been so spectacularly badly run. Thank goodness for Ben Robinson and his good business sense and acumen.
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Post by insideleft on Feb 5, 2016 15:42:43 GMT
It can be good accounting practice to declare a loss to reduce tax on profits. I can't see 350k being a problem at all, it's nothing in the wider scheme of things.
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Post by NobodyGood on Feb 5, 2016 17:25:58 GMT
It can be - But I think in Burton's case the loss will be genuine. There's not too many ways to manipulate profits to reduce tax for our club.
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