Caught the local news bulletin last night (sorry, can’t remember if it was Look North or Calendar). The report on there said the accounts show a deficit of £1.5m
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Joined: Jul 31 2003 Posts: 36786 Location: Leafy Worcester, home of the Black Pear
Wildmoose wrote:Caught the local news bulletin last night (sorry, can’t remember if it was Look North or Calendar). The report on there said the accounts show a deficit of £1.5m
That's the net position. Total debt is £3.2m but assets on the balance sheet offset a proportion of that figure and you end up with a net position of being £1.5m in the red.
Plus the losses for 2009 of course.
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cofr_rockin_robin wrote:Isn't that true for a lot of Rugby League clubs including Hull .
I guess so for some clubs yeah, most aren't reliant on individual backers though. With FC operating at a profit if our directors did ask for their loans back we'd be able to cover it. Your'e right though, most other clusb couldnt.
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Kosh wrote:That's the net position. Total debt is £3.2m but assets on the balance sheet offset a proportion of that figure and you end up with a net position of being £1.5m in the red.
Plus the losses for 2009 of course.
Ahh, now that makes sense. So how misleading is the “ROBINS £3M IN THE RED” headline!
"I've been rich & I've been poor. Rich is better." DLR
Kosh wrote:That's the net position. Total debt is £3.2m but assets on the balance sheet offset a proportion of that figure and you end up with a net position of being £1.5m in the red.
Plus the losses for 2009 of course.
so if we put player valuation on balance sheet the net will be lower ?
Joined: May 25 2002 Posts: 37704 Location: Zummerzet, where the zoider apples grow
hkrovers wrote:so if we put player valuation on balance sheet the net will be lower ?
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