I'll do it for you.
You being a lady and all that.

Mrs Barista wrote:They're in the public domain cockle. Help yourself. These I assume? https://s3.eu-west-2.amazonaws.com/docu ... 28ff2615dd Jeez, let’s see if that works.

Mrs Barista wrote:They're in the public domain cockle. Help yourself. These I assume? https://s3.eu-west-2.amazonaws.com/docu ... 28ff2615dd Jeez, let’s see if that works.

Ooh, it did work!

Probably the most interesting part is that the address hasn’t been updated to align with the Stadium’s new sponsor.

Also, there’s this (Hull Super League limited) and a Hull FC 2011 that is also active - any idea what the two represent/how they are distinct?

Anyway, as per, it is abbreviated in line with the small company exemption and covers a period ending a good few months ago. I do wonder if they’re created to be deliberately uninformative or they’re just a bit dull and impenetrable to the layperson. Bit rich, coming from me, I admit.

I might have a crack at an interpretation later - for comedic value and to provoke a record-straightening response.

Mild Rover wrote:These I assume? https://s3.eu-west-2.amazonaws.com/docu ... 28ff2615dd Jeez, let’s see if that works. The link doesn’t work for me M.R.

Mild Rover wrote:These I assume? https://s3.eu-west-2.amazonaws.com/docu ... 28ff2615dd Jeez, let’s see if that works. The link doesn’t work for me M.R.

Ah,yes I can see why you did not feel able to answer my question.

The only rationale I can think of running two outfits is that you can offset profits onto the losses of the other company thus avoiding some taxes.

As to the game and it’s future, it’s a bit like bitter and lager. Originally bitter was the major drink then came lager it was promoted like mad, it being a cheaper product to make, and being a lighter drink it took off with the young. Sadly rugby is the bitter. Apart from tinkering with the rules the major change was video refs. This has slowed the game. Go back to refs making the decisions, allow goals or not, no more going over and over a move to see if a pinky was in contact with the ball. TV commentators are just that they are not adjudicators.

Nah, Hull FC 2011 Ltd is the vehicle Pearson used to acquire the club. It doesn't do much as far as I can tell apart from incur a bit of interest or something each year. All the trade is in Hull Super League Ltd.

Things I've noticed from a quick glance (and I'm not a Hull fan) -
1. The club continues to use very dubious accounting policies about player valuations which totally prop up the Balance Sheet but are not in line with accounting standards and would result in qualified accounts if these needed auditing.
2. The other borrowings in long term creditors we can be pretty certain is the RFL-administered government loan. Hull got around £1m to £1.3m, similar to other clubs (Leeds as an example got exactly £1.25m).
3. Check out note 7. The fall in deferred income from £672k to £276k is likely to relate to people paying for season tickets or sponsorship before the end of November for the following season. It looks like these only went on sale in December last year which presumably is rather later than in previous years which will explain most of the fall, hopefully, rather than it being a permanent reduction in ticket holders.
4. Club looks to have essentially broken even on a net profit level for the year but without even a summary P&L and notes or an understanding of what the aim of the business is (most RL clubs aren't really run to make money but one without a sugar daddy like this probably is) and of what, if anything, senior management take out as remuneration it's really hard to understand what is actually going on.

No, me either now. I don’t think you’re missing much.

The only striking change I noticed was ‘other borrowing’ which increased by roughly £1 million. I guess that might be the emergency govt loan. But it is only a guess, because I don’t have any expertise in this area and even if I did, I’ve a suspicion that there’s not enough detail to say anything very definitive.

One thing I find curious (not meaningful, just an oddity) is how precisely the intangible assets are valued. I presume this is the player registrations and maybe the estimated value of a place in super league - if you wanted to transfer all the assets to a new entity, as a going concern, how much you’d be able to realise for creditors and shareholders of Hull FC. Last year it was £1,777,649 and now it is £1,650,880. Like somebody has really worked it out. Surely it is a bit more like valuing a house, and you’d just round off to the nearest £1000 or £5000. Or maybe they started with a round number years ago and there’s some sort of adjustment they apply each year. Appreciation and amortisation algorithms… possibly. Adopting a rigorous approach to updating a purely notional valuation is… I dunno, there’s a kind of sweetly futile conscientiousness to it.

1 - Yes, although a. club have adopted this approach since pre AP's tenure and b.no impact on the P&L.
2. Agreed, and explains partially increase in cash.
3. Plus more re fans paying by DD than upfront now.
4. Made a profit.

[quote="Mrs Barista"]1 - Yes, although a. club have adopted this approach since pre AP's tenure and b.no impact on the P&L.





1 Still very dubious accounting and hardly a positive reason for the continuation bearing in mind the previous owners.