Annual Report

[super_al 168]

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?

[fine-n-dandy 505]

Holy shit!

 

£6.5m pay off for Milne & co wtf?

[RUL 1,054]

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 November 25, 2019 by RUL

[starryfish 36]

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

[NEM 2,094]

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?

[craegDAMH 378]

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

[strachanmcgheegoal 869]

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.

[CityCentre 73]

Record turnover of £15.9 million.

 

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

[Poodler 2,377]

Beating relegation fodder would be a good start

Edited November 25, 2019 by Poodler

[Studebaker-90 565]

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.

[NEM 2,094]

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

[CityCentre 73]

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

 

Rangers turnover nowhere near £100m.

[Studebaker-90 565]

Well Celtic then

[CityCentre 73]

Well Celtic then

 

We need to get into the Europa League group stages, that is the number one aim.

[milne_afc 1,226]

Wrong fred

Edited November 25, 2019 by milne_afc

[Poodler 2,377]

The catholic coin

[Red Ram 41]

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 November 25, 2019 by Red Ram

[WesthillWanderersFC 304]

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.

[WesthillWanderersFC 304]

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

[CityCentre 73]

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.