NUFC Accounts 2012/13 published: PROFIT - from Page 7

[Ketsbaia]

So we're one of the few clubs making a profit, plus the obscene increase on TV money next season, plus our superb transfer strategy? I must say, things look excellent. It's hard not to get very very excited for the future.

[cp40]

Lambias on Radio newcastle soon.

[cp40]

http://www.bbc.co.uk/bbcnewcastle/on-air

[Unbelievable]

Not sure if any of this will help anyone. I know its last years but it is detailed and shows we are going in the right direction. I have detailed reports, the clubs aims and goals etc in minute detail but its Crown Copyrighted so I won`t post anything that hasn`t been published elsewhere. I have logged in and can`t find 2011/12 yet, maybe in a few days.

 

 

 

Date Of

Accounts

                  30/06/11 (%)        30/06/10 (%)              30/06/09 (%)          30/06/08 (%)    30/06/07

 

<snip>

Directors

Emoluments £302,000 15.3% £262,000 -26.8% £358,000 539.3% £56,000 -100% £1,061,433,000

<snip>

 

WTF

 

Yup. Twas Freddie and Co's final year in the trough.

 

http://t3.gstatic.com/images?q=tbn:ANd9GcQPZAAXIq0YkBjLdKhQ-xuk-8Ce9F8tVHTC1kh4ATKb-zfm6JWD

[Taylor Swift]

A small profit means paying a small tax

 

Losses from previous years can be used to deduct taxes that are payable.

[Dave]

So the commercial figures are bollocks.

 

Wonder why?

[BottledDog]

Yup. Twas Freddie and Co's final year in the trough.

 

Ah, thought it might have been Mort. Presume the next years drop was because the Mort and Freshfields million+ came from some other section then and we had no Director as such?

[Tooj]

Anybody got a nice easy graph that shows the comparisons between our commercial revenue and the rest of the league?

[Unbelievable]

Yup. Twas Freddie and Co's final year in the trough.

 

Ah, thought it might have been Mort. Presume the next years drop was because the Mort and Freshfields million+ came from some other section then and we had no Director as such?

 

Err, that table Rebellious posted says it's over a billion..

 

 

Edit: unless this is neesy's currency..

[Toonpack]

So the commercial figures are bollocks.

 

Wonder why?

 

I dunno, enlighten us ?

 

In the big picture were in great shape, we've done our slash and burn cost cutting and all but the mega rich clubs (who don't need to) have yet to do theirs, and an awful lot of clubs will need to, even with the new TV money.

[Dave]

So the commercial figures are bollocks.

 

Wonder why?

 

I dunno, enlighten us ?

 

Llambias just said on the radio that they're fiddled, that's what I'm referring to.

[quayside]

Not sure if any of this will help anyone. I know its last years but it is detailed and shows we are going in the right direction. I have detailed reports, the clubs aims and goals etc in minute detail but its Crown Copyrighted so I won`t post anything that hasn`t been published elsewhere. I have logged in and can`t find 2011/12 yet, maybe in a few days.

 

 

 

Date Of

Accounts

                  30/06/11 (%)        30/06/10 (%)              30/06/09 (%)          30/06/08 (%)    30/06/07

 

<snip>

Directors

Emoluments £302,000 15.3% £262,000 -26.8% £358,000 539.3% £56,000 -100% £1,061,433,000

<snip>

 

WTF

 

Yup. Twas Freddie and Co's final year in the trough.

 

http://t3.gstatic.com/images?q=tbn:ANd9GcQPZAAXIq0YkBjLdKhQ-xuk-8Ce9F8tVHTC1kh4ATKb-zfm6JWD

 

Yes - the club was bought in the summer of 2007 and that remuneration went to the Shepherds and the Halls.

[cp40]

So the commercial figures are bollocks.

 

Wonder why?

 

I dunno, enlighten us ?

 

Llambias just said on the radio that they're fiddled, that's what I'm referring to.

 

 

called it an accounting blip, didnt he?

 

the impression I got was that he meant they held back two new sponsorship deals to be counted in the following years accounts.

[Dave]

Aye, that's what I'm referring to.

[Unbelievable]

Not sure if any of this will help anyone. I know its last years but it is detailed and shows we are going in the right direction. I have detailed reports, the clubs aims and goals etc in minute detail but its Crown Copyrighted so I won`t post anything that hasn`t been published elsewhere. I have logged in and can`t find 2011/12 yet, maybe in a few days.

 

 

 

Date Of

Accounts

                  30/06/11 (%)        30/06/10 (%)              30/06/09 (%)          30/06/08 (%)    30/06/07

 

<snip>

Directors

Emoluments £302,000 15.3% £262,000 -26.8% £358,000 539.3% £56,000 -100% £1,061,433,000

<snip>

 

WTF

 

Yup. Twas Freddie and Co's final year in the trough.

 

http://t3.gstatic.com/images?q=tbn:ANd9GcQPZAAXIq0YkBjLdKhQ-xuk-8Ce9F8tVHTC1kh4ATKb-zfm6JWD

 

Yes - the club was bought in the summer of 2007 and that remuneration went to the Shepherds and the Halls.

 

An amount of more than one billion and sixty one million Great British Pounds doesn't sound suspiciously high to you?

[quayside]

Not sure if any of this will help anyone. I know its last years but it is detailed and shows we are going in the right direction. I have detailed reports, the clubs aims and goals etc in minute detail but its Crown Copyrighted so I won`t post anything that hasn`t been published elsewhere. I have logged in and can`t find 2011/12 yet, maybe in a few days.

 

 

 

Date Of

Accounts

                  30/06/11 (%)        30/06/10 (%)              30/06/09 (%)          30/06/08 (%)    30/06/07

 

<snip>

Directors

Emoluments £302,000 15.3% £262,000 -26.8% £358,000 539.3% £56,000 -100% £1,061,433,000

<snip>

 

WTF

 

Yup. Twas Freddie and Co's final year in the trough.

 

http://t3.gstatic.com/images?q=tbn:ANd9GcQPZAAXIq0YkBjLdKhQ-xuk-8Ce9F8tVHTC1kh4ATKb-zfm6JWD

 

Yes - the club was bought in the summer of 2007 and that remuneration went to the Shepherds and the Halls.

 

An amount of more than one billion and sixty one million Great British Pounds doesn't sound suspiciously high to you?

 

Good spot.  I read it as about a £million not a f*cking £billion 

[Unbelievable]

Remind me which accounting firm you work for again..? I am just a small business man, but if I can get away with taking out over 10 times my turnover without my accountant noticing, hey ho!

[Toonpack]

So the commercial figures are bollocks.

 

Wonder why?

 

I dunno, enlighten us ?

 

Llambias just said on the radio that they're fiddled, that's what I'm referring to.

 

Ah ok

[quayside]

Remind me which accounting firm you work for again..? I am just a small business man, but if I can get away with taking out over 10 times my turnover without my accountant noticing, hey ho!

 

Fortunately I no longer work for an accounting firm. These days I work in investment, so I tend to concentrate on the "big picture" rather than the detail 

[Unbelievable]

Remind me which accounting firm you work for again..? I am just a small business man, but if I can get away with taking out over 10 times my turnover without my accountant noticing, hey ho!

 

Fortunately I no longer work for an accounting firm. These days I work in investment, so I tend to concentrate on the "big picture" rather than the detail 

 

I see, so in investment misinterpreting a billion for a million is no biggy..

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Just pulling your leg mate..

[quayside]

Remind me which accounting firm you work for again..? I am just a small business man, but if I can get away with taking out over 10 times my turnover without my accountant noticing, hey ho!

 

Fortunately I no longer work for an accounting firm. These days I work in investment, so I tend to concentrate on the "big picture" rather than the detail 

 

I see, so in investment misinterpreting a billion for a million is no biggy..

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Just pulling your leg mate..

 

You're welcome. Like many an accountant I've endured years of having the piss taken so my leg is used to a good pulling 

[BottledDog]

We have paid back a bit of one of the more recent loans Ashley has made to the club (and the interest free loan will just sit there as a club debt) -

 

United also re-imbursed owner Mike Ashley £11million of a cash advance he supplied to the club during the relegation season to bolster the squad and restructure.

 

His interest-free loan to the club remains untouched – he does not want it to be paid back – but the accounts emphasise that their desire to make the club self-sustainable is moving closer to reality.

 

“Mike isn’t having to put money in either,” he said. “We had to have a clean piece of paper at first, and there were huge amounts of securitised loan. That was £105million, which had to be cleared. When we were relegated, we out to borrow £28million to get us back into the Premier League and to reshape ourselves and push forward.

 

“When we out in the market place the fees were horrendous - 10 to 15%. So Mike said he would advance it to us and you pay me back when the club can afford it, which we’ve done.

 

“In these accounts, you’ll see there’s £11million paid back to Mike. But we saved £4million in fees which we would have had to pay to someone who would make a lot of money securitising our season-ticket money.”

 

 

[Matt]

“Mike isn’t having to put money in either,” he said. “We had to have a clean piece of paper at first, and there were huge amounts of securitised loan. That was £105million, which had to be cleared. When we were relegated, we out to borrow £28million to get us back into the Premier League and to reshape ourselves and push forward.

 

Crikey. The book value of that loan was around £50-60m at the time of the takeover, the break fees on the loan must have been horrific.

 

That's why you do due diligence, boys!

 

Also, last time I checked a 'cash advance' is a loan.

 

I don't mind the board running the club as they see fit, but their obfuscation around financial issues drives me up the wall. What they are say here is "Mike doesn't want his loan back, apart from the bit he did. Which we've paid him".

[quayside]

“Mike isn’t having to put money in either,” he said. “We had to have a clean piece of paper at first, and there were huge amounts of securitised loan. That was £105million, which had to be cleared. When we were relegated, we out to borrow £28million to get us back into the Premier League and to reshape ourselves and push forward.

 

Crikey. The book value of that loan was around £50-60m at the time of the takeover, the break fees on the loan must have been horrific.

 

That's why you do due diligence, boys!

 

Also, last time I checked a 'cash advance' is a loan.

 

I don't mind the board running the club as they see fit, but their obfuscation around financial issues drives me up the wall. What they are say here is "Mike doesn't want his loan back, apart from the bit he did. Which we've paid him".

 

I think this particular "advance" was identified and disclosed in last year's accounts as being specifically for short term purposes and to be repaid shortly after it was received. I can see what you mean but I suppose the point is that the major chunk of Ashley's loan hasn't been reduced and is now arguably pretty much an intrinsic part of the capital structure of the club. 

[Guest neesy111]

“Mike isn’t having to put money in either,” he said. “We had to have a clean piece of paper at first, and there were huge amounts of securitised loan. That was £105million, which had to be cleared. When we were relegated, we out to borrow £28million to get us back into the Premier League and to reshape ourselves and push forward.

 

Crikey. The book value of that loan was around £50-60m at the time of the takeover, the break fees on the loan must have been horrific.

 

That's why you do due diligence, boys!

 

Also, last time I checked a 'cash advance' is a loan.

 

I don't mind the board running the club as they see fit, but their obfuscation around financial issues drives me up the wall. What they are say here is "Mike doesn't want his loan back, apart from the bit he did. Which we've paid him".

 

FFS (Shepherd) hid quite a bit of the debt (from the losses from 2005 - 2007) via Barclays with a huge overdraft and new loans which Ashley didn't know.  Also Shepherd with his cosy relationship with Barclays putting in takeover clauses into them didn't help.