Hi Ian. Thanks for the above. It is indeed very interesting. Although I’m not sure it really has any bearing on any “misconceptions and inaccuracies”? Let’s take out the ‘paper profit’ (as described that year by the board) in 2013 due to the cancelling of the “exception item” relating to the directors loan – that is slightly misleading. (I AGREE SEE BELOW).
We commendably made an actual real profit of £30k that year (2013). (I AGREE SEE BELOW)
Maybe you haven’t seen the accounts from that year. In which case, please feel free to get in touch. It’s always good to clear up any “misconceptions and inaccuracies”. (THANKS I HAVE ALL THE ACCOUNTS, WHERE DID YOU THINK I GOT ALL THIS FROM).
So the figures you quote leave a deficit of nearly £60k over the same period. In cash profit. (WRONG, THE PROFIT IS 46K OVER LAST 6 YEARS)
So “consistently balancing the books” still looks a long way off and quite fanciful. (WRONG AGAIN)
Particularly when the current chairman himself was drawing attention to the dwindling cash reserves at the last AGM (Feb 16). (CASHFLOW IS DIFFERENT FROM PROFIT/LOSS)
And let’s not forget the unbudgeted quarter of a million pounds (£250k!) that have come into the football club over the last few years - that has still ended with us 6 points adrift in a regional league. (THE ACCOUNTS DONT SUPPORT YOUR FAG PACKET ESTIMATES).
But I do agree the money has not been wisely spent this season by the manager we started with.
If you want to look at this year’s accounts in isolation – as it is surely what has prompted you to start a new post. Let’s consider the previous communication from the current chairman.
Feb 16 – “The 2015-16 budget is projected to lose £36k” (?!?!) (THAT WAS 8 MONTHS AGO, clearly things improved, more functions and donations I suspect probably due top his appeal).
Sep 16 – “Grahame Rowley said that last season's accounts showed that there was just a £4,000 "profit" at the end of the financial period. So funds were largely used up.” (Again, this was before the accounts were actually completed, looks like it was better than expected).
Oct 16 – Club profits for the year to 31st May 2016 show +£27k (66K actually in cash terms)
From reading the above it’s difficult to know who is misleading who and where the incompetence takes over.
And finally, without wanting to look like I'm nit-picking (but in the interest of clearing up any "misconceptions and inaccuracies") the chairman's annual address at the AGM indicates that the initial transfer fee for Duncan Watmore was within the year ending 2014, not 2013 as indicated by your table above.
Firstly the Duncan money has never been published, it is the subject iof a confidentiality agreement so your estimate of 100K is pure speculation, I dont know either.
Secondly, Dunc was sold in late May/june 2013 so any funds would have been in the 2013/14 accounts and if you compare 2013 (475) and 2014 (507) that would seem to tally
Matt. Please see my replies to your comments in bold above.
You have been clearly irked by my comment about "misconceptions and inaccuracies" which wasnt actually aimed specifically at yourself,............ however if the cap fits then please wear it 
Hi Ian. It's great we agree on so much. We would probably agree on much more if you hadn't spent your entire weekend trying to find more creative and misleading way of presenting the clubs accounts to suit your own agenda. No-one had been talking about the overall health of the club bank balance/assets. I was talking about the balancing of the books year to year and living within our means (profit/loss over the year). Which we haven't managed to do during the period you have identified - despite the current board enjoying more unbudgeted income into the club during that time than any other Alty board for 20+ years.
While it would indeed be inaccurate to describe us as "consistently balancing the books", for what it's worth, I actually don't even think it's that imperative the books do balance every year as long as the cash reserves are keeping us above water. I would actually be more disappointed if the football club cash reserves looked healthy and we weren't making an annual loss. I would prefer that we over-spend the money into the team if we have it, provided we are able to absorb the loss – all of the available evidence would suggest this is something that the current chairman and I are closely aligned on.
What no-one should expect or accept is a £60k cash loss over the extended period above, having had a bucket load of money coming in, and the end result is a position where Evo-stick football is a reality. Despite you trying to patronise Martin to the contrary the other day, the two are inextricably linked - we are a football club. A fact far too easily forgotten these days, between new found delights such as walking football and geriatric yoga.
I can only hope your casual disregard of the profit/loss and your misleading spinning of the accounts isn't a view shared by the current board. I'm fairly confident that it isn't Ian. Thankfully.
I'm not sure how many times you would like me to explain my estimates in regard to cup/transfer turnover? Even I'm becoming bored by it. The cup/TV revenue is publicly available for both cup runs and so I would assume can be considered factual - unless you are suggesting the club agreed to accept less?
The Watmore money arrived into the 2014 accounts. Subtract the £75k cup money in 2013 from the 2013 turnover (£475k). Leaves £400k. We played at the same level the year afterwards (2014), and made no progress in the cups. The difference in the turnover is an increase in excess of £100k in the year the transfer funds came in. While it's not clear if this is near the final figure for player transfers or not, what is clear is that turnover (excluding cup money) increased by this amount.
So a ballpark total (unbudgeted) turnover increase of a quarter of a millions pounds for the current board to spend over the time period that you have identified above.
Instead of discussing what I've said properly you seem intent on repeating the words "fag packet" to me at every opportunity. It's most unhelpful and rather childish.
You have also been intentionally misleading over claiming that the chairman’s initial forecast at the Feb 16 AGM for a sharp loss in 2015/16 was 8 months before the final accounts. While the AGM was 8 months prior to the actual publishing of the annual accounts, the financial year ended in May 16, a matter of weeks after the AGM. Surely the final accounts aren't a surprise for anyone at the club when they do eventually arrive, and everyone is aware of what flows in and out throughout the year?
Unless you are trying to insinuate that the chairman/board aren't keeping a close enough eye on the books throughout the year and don't really know what is going on? In which case you should be ashamed of yourself Ian.
What I find more likely is that the forecast was given in good-faith and it was based on the best estimates of the board as of Feb16. Which then makes me wonder what has driven an unexpected and unbudgeted £60(odd)k turnover increase in the next 12 weeks that they were not able to foresee? It's a fantastic (almost miraculous…) turnaround in a matter of weeks, and perhaps a good-news story we should be making more of. Either way it's probably a question for the next fans forum or the AGM itself - whichever comes first.
As for the announcement in Sept16 that we spent all the money last season and made just £4k, maybe he's just panicked. Perhaps it wasn't the right meeting for announcing a near £30k profit over the season, while also claiming we spent everything we had to stay in the conference. I wasn't able to attend, so it’s also plausible that the chairman has been mis-quoted - it wouldn't be the first time. Apparently.
And you still keep trying to blame Neil Young for everything. You are considering a 6 year period off-the-pitch, and then blaming a 6-game manager for all the woes on it?
www.altyfans.co.uk » General Category » Altrincham FC First Team
AFC latest accounts out today.
Author
Topic: AFC latest accounts out today. (Read 18188 times)