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Finances
Mar 27, 2017 11:12:33 GMT
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Post by dinsdale on Mar 27, 2017 11:12:33 GMT
Just a quick question.
Now we are hitting the break even attendance figures for a period where we had a much higher wage budget, does anyone expect us to finally break even this season? Also have the Chelsea money and Taylor.
Before anyone mullers me about the debt pay off and training ground im asumming this will be attached to dwayne sports rather then our yearly accounts.
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yattongas
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Post by yattongas on Mar 27, 2017 11:42:09 GMT
Yes
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Finances
Mar 27, 2017 11:44:17 GMT
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Post by RetroGamer on Mar 27, 2017 11:44:17 GMT
I wouldn't have thought so. The backroom staff we have now has gone up considerably for a start.
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Post by Severncider on Mar 27, 2017 11:49:56 GMT
Just a quick question. Now we are hitting the break even attendance figures for a period where we had a much higher wage budget, does anyone expect us to finally break even this season? Also have the Chelsea money and Taylor. Before anyone mullers me about the debt pay off and training ground im asumming this will be attached to dwayne sports rather then our yearly accounts. The AGM is due in May and the accounts up to 30th June 2016 will show a substantial debt as the MSP loan will be outstanding on Dwane Sports books and all the loans to the previous Directors will still be outstanding.
I can well image that the figures up to 30th June 2017 will eventually show little if any improvement although the running costs of the club will hopefully show we are least breaking even.
Until The Mem is sold the debt will not show any substantial improvement.
As has been mentioned we are now employing a lot more backroom staff and they all have to be paid.
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Post by Topper Gas on Mar 27, 2017 12:01:15 GMT
Isn't the overall club "debts" and whether we're breaking even two different issues, as even if we were to sell out the UWE every week we'll still have debts but would be making annual profits (assuming we could service the debt at the UWE!)? I understand whilst we're stuck at the Mem we'll never a make a profit, which seems to support what NH said in the past.
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Post by peterparker on Mar 27, 2017 12:40:44 GMT
Just a quick question. Now we are hitting the break even attendance figures for a period where we had a much higher wage budget, does anyone expect us to finally break even this season? Also have the Chelsea money and Taylor. Before anyone mullers me about the debt pay off and training ground im asumming this will be attached to dwayne sports rather then our yearly accounts. The AGM is due in May and the accounts up to 30th June 2016 will show a substantial debt as the MSP loan will be outstanding on Dwane Sports books and all the loans to the previous Directors will still be outstanding.
I can well image that the figures up to 30th June 2017 will eventually show little if any improvement although the running costs of the club will hopefully show we are least breaking even.
Until The Mem is sold the debt will not show any substantial improvement.
As has been mentioned we are now employing a lot more backroom staff and they all have to be paid.
Are you saying 1883 Ltd owe Dwane sports for MSP and the directors loans? otherwise if they have been moved to Dwane, why would they show on 1883 Ltds books?
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Post by Henbury Gas on Mar 27, 2017 12:51:11 GMT
Don't get Profit & Loss accounts mixed up with Trading profits
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Post by aghast on Mar 27, 2017 13:15:42 GMT
Don't get Profit & Loss accounts mixed up with Trading profits Or Balance Sheets.
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Post by socrates on Mar 27, 2017 13:25:51 GMT
This is going to be like the endless stadium threads. Nobody knows the answer but everyone has a guess. I wouldn't have a clue myself I guess you'd have to ask Wael or Hamer but I doubt the answer would be a simple yes or no and they probably wouldn't have the time to go in to the details of it either.
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Post by knowall on Mar 27, 2017 13:26:39 GMT
The AGM is due in May and the accounts up to 30th June 2016 will show a substantial debt as the MSP loan will be outstanding on Dwane Sports books and all the loans to the previous Directors will still be outstanding.
I can well image that the figures up to 30th June 2017 will eventually show little if any improvement although the running costs of the club will hopefully show we are least breaking even.
Until The Mem is sold the debt will not show any substantial improvement.
As has been mentioned we are now employing a lot more backroom staff and they all have to be paid.
Are you saying 1883 Ltd own Dwane sports for MSP and the directors loans? otherwise if they have been moved to Dwane, why would they show on 1883 Ltds books? good question too which some on here have not understood
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Post by Severncider on Mar 27, 2017 13:37:49 GMT
The AGM is due in May and the accounts up to 30th June 2016 will show a substantial debt as the MSP loan will be outstanding on Dwane Sports books and all the loans to the previous Directors will still be outstanding.
I can well image that the figures up to 30th June 2017 will eventually show little if any improvement although the running costs of the club will hopefully show we are least breaking even.
Until The Mem is sold the debt will not show any substantial improvement.
As has been mentioned we are now employing a lot more backroom staff and they all have to be paid.
Are you saying 1883 Ltd own Dwane sports for MSP and the directors loans? otherwise if they have been moved to Dwane, why would they show on 1883 Ltds books? I am saying the MSP loan has been paid off by Dwane Sports and no longer resides in the accounts for BRFC.
The debt has not disappeared it is just not BRFC's responsibility. However, Dwane Sports will still want to be repaid that money, unless Wael and his family do not want repaying and this can only be achieved by the sale of The Mem. The outstanding Directors loans are still held on BRFC's accounts until such time as they are paid off, unless Dwane Sports have transferred that debt.
My understanding is that the Directors loans have still not been paid off in full, but I can ask NH again if I see him on Saturday.
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Post by peterparker on Mar 27, 2017 13:48:19 GMT
Ok so
1883Ltd owe Dwane Sports for x amount relating to MSP (how/when/if this will be repaid is unknown) 1883Ltd owe the directors who ‘stood down’ for their loans that are still outstanding (which was my understanding also)
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Post by meader on Mar 27, 2017 13:51:31 GMT
Thing is, how much longer do we have to wait till we hear any kind of statement regarding the new stadium. I can see the possibility of Chelsea and Everton playing in their new stadiums and we'll still be playing at the Mem. We need a statement soon or else everyone will start saying the UWE Stadium project has been abandoned, and the search for a new site begins all over again!
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Post by peterparker on Mar 27, 2017 14:05:55 GMT
Thing is, how much longer do we have to wait till we hear any kind of statement regarding the new stadium. I can see the possibility of Chelsea and Everton playing in their new stadiums and we'll still be playing at the Mem. We need a statement soon or else everyone will start saying the UWE Stadium project has been abandoned, and the search for a new site begins all over again! End of July/Early August I guess based on what Stever Hamer said the other week
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Finances
Mar 27, 2017 14:46:40 GMT
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Post by dinsdale on Mar 27, 2017 14:46:40 GMT
Just to clarify i was thinking more about turnover for the season then the debt that Dwayne sports paid off. Will we make an operating profit or break even this season ?
Our wage budget is less then when Tony said we needed 9000 break even figure and we dont have the huge msp interest to pay either. Woukd be great to see a break even season.
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Post by gassince1957 on Mar 27, 2017 17:33:15 GMT
Just to clarify i was thinking more about turnover for the season then the debt that Dwayne sports paid off. Will we make an operating profit or break even this season ? Our wage budget is less then when Tony said we needed 9000 break even figure and we dont have the huge msp interest to pay either. Woukd be great to see a break even season. I asked Steve Hamer at the SC AGM if 9000 means the FC side is breaking even and he said No, we need crowds of (not sure whether it was 13,000 or 30,000, but I assume 13,000 as UWE only holds 21,000). I think Gasincider and Severncider were at that meeting so maybe heard Mr. Hamer's response better than me!
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Post by Severncider on Mar 27, 2017 17:42:46 GMT
Just to clarify i was thinking more about turnover for the season then the debt that Dwayne sports paid off. Will we make an operating profit or break even this season ? Our wage budget is less then when Tony said we needed 9000 break even figure and we dont have the huge msp interest to pay either. Woukd be great to see a break even season. I asked Steve Hamer at the SC AGM if 9000 means the FC side is breaking even and he said No, we need crowds of (not sure whether it was 13,000 or 30,000, but I assume 13,000 as UWE only holds 21,000). I think Gasincider and Severncider were at that meeting so maybe heard Mr. Hamer's response better than me! I was not at the BRSC AGM due to a medical problem.
With regard to the present finances breaking even. Not knowing all the additional wages incurred by the addition of media, medical, academy trainers it is difficult to assess if we are breaking even with crowds of 9k+
I believe that the BRFC AGM will take place early in May but the appropriate Notice of the AGM has not yet been issued nor have the accounts ending 30/06/2016. I think they may look interesting reading.
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Post by Topper Gas on Mar 27, 2017 20:20:02 GMT
Ok so 1883Ltd owe Dwane Sports for x amount relating to MSP (how/when/if this will be repaid is unknown) 1883Ltd owe the directors who ‘stood down’ for their loans that are still outstanding (which was my understanding also) I understand GD, RK & Mrs RC loans have been paid off so it's only BB, NH, ED & CJ still to be paid off. As far as the MSP loan nobody knows for certain what's happened to that but given Dwane Sports are spending millions at The Colony I doubt they are too worried about it.
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Post by rovers5charlton5 on Mar 28, 2017 1:11:17 GMT
Don't forget that the prize money for league 2 last year will be higher than our Conference season, and the play of final money will be included in last year's accounts as well. Going forward, the prize money for league one is a lot higher than for league 2 (although I couldn't find the exact figures online).
As far as the MSP loan is concerned, I thought that Dwane Sports had cleared that, but they can always do another MBNA balance transfer if it's still a problem, the interest will be lower on that!
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Finances
Mar 28, 2017 5:28:22 GMT
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Post by peterparker on Mar 28, 2017 5:28:22 GMT
Don't forget that the prize money for league 2 last year will be higher than our Conference season, and the play of final money will be included in last year's accounts as well. Going forward, the prize money for league one is a lot higher than for league 2 (although I couldn't find the exact figures online). As far as the MSP loan is concerned, I thought that Dwane Sports had cleared that, but they can always do another MBNA balance transfer if it's still a problem, the interest will be lower on that! I dont think there is any doubt Dwane cleared the MSP. Hamer said and they said the interest was too high. Its whether Dwane have recharged 1883ltd for it
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