Jump to content
Sign in to follow this  
super_al

Annual Report

Recommended Posts

https://d2cx26qpfwuhvu.cloudfront.net/aberdeen/wp-content/uploads/2019/11/24181429/Annual_Report_Online.pdf

 

Can someone with a finance or accounting background summarize the state of the accounts. It looks like we made a 5 million loss manly due to the value of Pittodrie. However is it me or are we just going back into debt again except this time it’s to directors and not the bank?

Share this post


Link to post

Pittodrie charge of 4.25m as they’ve just had it valued at 11m and not the 15.25m they’ve been listing in the accounts. Presumably the last time we see accounts as we are going private ?

Edited by RUL

Share this post


Link to post

Just had a very quick read through, no mention of the new contracts awarded to the management team? Maybe I missed it.

Share this post


Link to post

Just had a very quick read through, no mention of the new contracts awarded to the management team? Maybe I missed it.

 

 

will they not be captured in next years accounts?

Share this post


Link to post

https://d2cx26qpfwuhvu.cloudfront.net/aberdeen/wp-content/uploads/2019/11/24181429/Annual_Report_Online.pdf

 

Can someone with a finance or accounting background summarize the state of the accounts. It looks like we made a 5 million loss manly due to the value of Pittodrie. However is it me or are we just going back into debt again except this time it’s to directors and not the bank?

 

The loss is almost all down to the revaluation of Pittodrie but this isn't a cash cost. It's an accounting adjustment.

 

On an operating basis there was a cash outflow of around £1m but overall we were basically break even on a cash basis with all the funding that happened in the year.

 

There is director loan debt but some of this has already been converted into shares. The remaining director debt is £3.4m but this will just be converted into shares in 2022 if it’s not paid off (which it won't be!).

 

There is a loan on the balance sheet from the community trust for about £1m but this will be converted into a lease premium for them to use the training facilities for 22 years!

 

So we’re not getting into debt, they’ve just used loans which convert into shares for the new investment that’s come into the club.

 

 

Overall we're pretty break even, give or take £500k or so

  • Upvote 1

Share this post


Link to post

Or to put it another way when the impact of a win (profit) was obvious we’ve tried to manage the year out for the draw and it more or less worked.

 

Sounds familiar.

Share this post


Link to post

Record turnover of £15.9 million.

 

A Europa League group stage would be a serious game changer for us.

Share this post


Link to post

Beating relegation fodder would be a good start

Edited by Poodler
  • Upvote 2

Share this post


Link to post

Record turnover of £15.9 million.

 

A Europa League group stage would be a serious game changer for us.

Apparently the bigot brothers turnover £100million each. Just shows how far behind them we are in terms of sales.

Share this post


Link to post

Apparently the bigot brothers turnover £100million each. Just shows how far behind them we are in terms of sales.

 

 

Huns £53 million turnover losing £11.4 million

Share this post


Link to post

Apparently the bigot brothers turnover £100million each. Just shows how far behind them we are in terms of sales.

 

Rangers turnover nowhere near £100m.

Share this post


Link to post

The loss is almost all down to the revaluation of Pittodrie but this isn't a cash cost. It's an accounting adjustment.

 

On an operating basis there was a cash outflow of around £1m but overall we were basically break even on a cash basis with all the funding that happened in the year.

 

There is director loan debt but some of this has already been converted into shares. The remaining director debt is £3.4m but this will just be converted into shares in 2022 if it’s not paid off (which it won't be!).

 

There is a loan on the balance sheet from the community trust for about £1m but this will be converted into a lease premium for them to use the training facilities for 22 years!

 

So we’re not getting into debt, they’ve just used loans which convert into shares for the new investment that’s come into the club.

 

 

Overall we're pretty break even, give or take £500k or so

Imagine the £1m loan being converted to lease for access to Cormack Park mostly came from £1.4m or thereabouts that Cormack Foundation donated to AFCCT

Edited by Red Ram

Share this post


Link to post

Record turnover of £15.9 million.

 

A Europa League group stage would be a serious game changer for us.

Agreed.

Sadly we’re miles away from that.

We won’t get near the Europa group stages if we’re signing folk like Curtis Main & Jon Gallagher.

  • Upvote 1

Share this post


Link to post

Apparently the bigot brothers turnover £100million each. Just shows how far behind them we are in terms of sales.

The huns might turnover £100m...

In TWO years.

Whilst losing about £20m-£25m

Share this post


Link to post

Agreed.

Sadly we’re miles away from that.

We won’t get near the Europa group stages if we’re signing folk like Curtis Main & Jon Gallagher.

 

The manager will most likely get one more shot at it, then it's time to move on, seven chances is more than enough.

Share this post


Link to post

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×
×
  • Create New...