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NUFC finances


Paully

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Most interesting thing to me was the drop in Season ticket sales was over 7.2% (£9.2m to £8.5m)

 

Club accounts don't normally include that detail.

 

Got to be a bit careful using the amount of deferred income at a point in the year to equate to season ticket income.

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Accounts available now. First scan key numbers:

 

Net debt: £94.9m (2013: £133.5m). £34.1m in the bank

 

Staff costs: £78.3m (2013: £61.7m)

 

"Other operating charges" £23.4m (2013: £17.6m)

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How did staff costs got up by that much? That's over a 20% increase year on year.

 

Hiring and firing the world's leading Director of Football comes at a cost.

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The one item that is puzzling me is the £12.9m of accrued expenditure within creditors falling due within one year (up from £5m in 2013). A simply way of bumping up expenditure and thus reducing profits?

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The one item that is puzzling me is the £12.9m of accrued expenditure within creditors falling due within one year (up from £5m in 2013). A simply way of bumping up expenditure and thus reducing profits?

 

Looking that way, the profits have been suppressed for tax reasons, but the cash is in the bank, no significant money has disappeared.

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Read into this what you will from the related party transactions section.

 

Newcastle United Football Company Limited, a subsidiary of the Company, made sales of £nil (2013: £1,710,000) and purchased goods to the value of £2,796,000 (2013: £841,000) from Sports Direct.com Retail Limited, a company connected with Mr M J W Ashley. These transactions were on normal commercial terms. The balance owing at 30 June 2014 to Sports Direct.com Retail Limited was £nil.

 

If Sports Direct are selling our merchandise, should we not be receiving money from them in related party transactions? ???

 

 

Charnley's signature BTW :blush:

 

http://i.imgur.com/NijZjZe.png?1

 

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It looks like he's basically siphoning money from the club's accounts. It doesn't really affect our cashflow and it's better for Ashley in the long run because Sports Direct will have a higher profit and thus higher share price, but I have a feeling that they'll use this £25m profit, instead of the £50m it should have been, as an excuse not to fully invest the money back into the squad.

 

We're basically being run as a Sports Direct subsidiary now.

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Guest Roger Kint

So some of the debt/his loan has been paid off?

Not in these accounts.

 

So why has it went down from £133.5m to £94.9m?

 

It hasnt, its the net debt of the balance sheet not the debt to Ashley

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Read into this what you will from the related party transactions section.

 

Newcastle United Football Company Limited, a subsidiary of the Company, made sales of £nil (2013: £1,710,000) and purchased goods to the value of £2,796,000 (2013: £841,000) from Sports Direct.com Retail Limited, a company connected with Mr M J W Ashley. These transactions were on normal commercial terms. The balance owing at 30 June 2014 to Sports Direct.com Retail Limited was £nil.

 

If Sports Direct are selling our merchandise, should we not be receiving money from them in related party transactions? ???

 

 

Charnley's signature BTW :blush:

 

http://i.imgur.com/NijZjZe.png?1

 

I thought we were paying his shop to produce, store, transport merchandise and then whatever profit we get from it would just go in the commercial total.

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So some of the debt/his loan has been paid off?

Not in these accounts.

 

So why has it went down from £133.5m to £94.9m?

 

It's like the total of your credit card and bank account.

 

Ashley is our zero interest credit card and the balance remains £129m

 

Our bank account was £4m overdrawn and has gone up to £38m in credit.

 

 

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It looks like he's basically siphoning money from the club's accounts. It doesn't really affect our cashflow and it's better for Ashley in the long run because Sports Direct will have a higher profit and thus higher share price, but I have a feeling that they'll use this £25m profit, instead of the £50m it should have been, as an excuse not to fully invest the money back into the squad.

 

We're basically being run as a Sports Direct subsidiary now.

 

The profit is massaged for tax reasons, the readies are/were in the bank, we've gone from around £4 Mill overdrawn to £38 Million in credit in real money

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How did staff costs got up by that much? That's over a 20% increase year on year.

 

I don't get that - we didn't buy anyone?  If anything, our costs should have gone down?

 

It includes a years worth of wages for Debuchy, MYM, Gouffran, Haidara & Sissoko rather than 5-6 months in the previous accounts, along with Remy for a year & Luuk de Jong for 5 months. However, considering the wages went DOWN in the previous year even with the 5-6 months of wages from the Jan 13 panic signings, it doesn't seem to add up at all just from the player wages - nearly a £300k per week increase.

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How did staff costs got up by that much? That's over a 20% increase year on year.

 

I don't get that - we didn't buy anyone?  If anything, our costs should have gone down?

 

It includes a years worth of wages for Debuchy, MYM, Gouffran, Haidara & Sissoko rather than 5-6 months in the previous accounts, along with Remy for a year & Luuk de Jong for 5 months. However, considering the wages went DOWN in the previous year even with the 5-6 months of wages from the Jan 13 panic signings, it doesn't seem to add up at all just from the player wages - nearly a £300k per week increase.

Ashley is now staff.
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How did staff costs got up by that much? That's over a 20% increase year on year.

 

I don't get that - we didn't buy anyone?  If anything, our costs should have gone down?

 

It includes a years worth of wages for Debuchy, MYM, Gouffran, Haidara & Sissoko rather than 5-6 months in the previous accounts, along with Remy for a year & Luuk de Jong for 5 months. However, considering the wages went DOWN in the previous year even with the 5-6 months of wages from the Jan 13 panic signings, it doesn't seem to add up at all just from the player wages - nearly a £300k per week increase.

Ashley is now staff.

 

He's a director, and director pay went down

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