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 Post subject: Re: The Derby
PostPosted: Tue Jan 19, 2016 11:49 pm 
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Posts: 1264
Location: Inside my own head
Mrs Barista wrote:Crikey. Is that right?

Anyway, hopefully we get a look at all the new signings. I'd hope we see a starting pack that includes Taylor, Watts, Mini and Pritchard. Looking forward to seeing Fonua too.


Sure is!-

Friendly
2 regular season games
Magic weekend
Super 8s
Either play-off or grand final
Challenge cup game.

Too many :-/

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 Post subject: Re: The Derby
PostPosted: Wed Jan 20, 2016 6:16 am 
International Board Member
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Joined: Jul 15 2005
Posts: 29811
Location: West Yorkshire
Keith_Lard wrote:A quick check on the Duedil website will show that you are wrong.

Profit & Loss Account Reserve -2,732,642

Also for £2 you can download FCs accounts from the companies house website
There is a section at the beginning were cbasadofskys advise against showing players as intangible assets.

Assets are shown on your balance sheet. Are you saying that if the value of the players were shown as no value it wouldn't have an impact on the profit and loss statement?

It is you who is wrong

In your own time :lol:


What was the value of the P&L reserve when Pearson took over in 2011?
The value of players impacts the revaluation reserve not the P&L.

Hilarious. :lol:

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 Post subject: Re: The Derby
PostPosted: Wed Jan 20, 2016 6:18 am 
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yorksguy1865 wrote:Sure is!-

Friendly
2 regular season games
Magic weekend
Super 8s
Either play-off or grand final
Challenge cup game.

Too many :-/


Oh yeah, I forgot the play-off one. Crazy.

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 Post subject: Re: The Derby
PostPosted: Wed Jan 20, 2016 6:27 am 
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Joined: Jul 15 2005
Posts: 29811
Location: West Yorkshire

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 Post subject: Re: The Derby
PostPosted: Wed Jan 20, 2016 7:00 am 
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Posts: 140
Mrs Barista wrote:What was the value of the P&L reserve when Pearson took over in 2011?
The value of players impacts the revaluation reserve not the P&L.

Hilarious. :lol:


Hull FC showed a profit of £32,000 when Pearson took over the club.
Are you stating that Pearson took on £2 million pounds worth of debt when buying the company?
Who carried out due diligence on his behalf if so?
The loss of £2.7 million has been achieved on his watch.

Any depreciation in assets is shown on the P&L account.
So if Pearson followed the accountants recommendations and didn't
show the players as intangible assets it would need to be shown on the profit and loss accounts for that financial period. You may want to look up the term reducing balance or straight line method when dealing with company assets and how it is shown on the profit and loss account.

You are not very good are you.

In your own time... :lol:


Last edited by Keith_Lard on Wed Jan 20, 2016 7:12 am, edited 1 time in total.
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 Post subject: Re: The Derby
PostPosted: Wed Jan 20, 2016 7:08 am 
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Posts: 140
Mrs Barista wrote:What was the value of the P&L reserve when Pearson took over in 2011?
The value of players impacts the revaluation reserve not the P&L.

Hilarious. :lol:



Hull recorded profits in each of the six years previous, but had seen them fall to just £29,244 in 2010.

In previous years, FC have included their players as 'intangible assets' as part of their balance sheet – placing a value of more than £1m on their squad last year.

This helped FC report net assets of £939,000 last year, but Pearson believes those figures to have been unrealistic.

"The balance sheet had been positively enhanced and the valuation that had been put on the players on the balance sheet were unrealistic," Pearson said.

"We will be reducing them over time to what is a realistic value

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 Post subject: Re: The Derby
PostPosted: Wed Jan 20, 2016 7:19 am 
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Posts: 30475
Keith_Lard wrote:Hull FC showed a profit of £32,000 when Pearson took over the club.
Are you stating that Pearson took on £2 million pounds worth of debt when buying the company?
Who carried out due diligence on his behalf if so?
The loss of £2.7 million has been achieved on his watch.

Any depreciation in assets is shown on the P&L account.
So if Pearson followed the accountants recommendations and didn't
show the players as intangible assets it would need to be shown on the profit and loss accounts for that financial period. You may want to look up the term reducing balance or straight line method when dealing with company assets and how it is shown on the profit and loss account.

You are not very good are you.

In your own time... :lol:



You really shouldn't start a row with an accountant about company accounts when you clearly don;t know what you're talking about






The poor man's bonaire

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 Post subject: Re: The Derby
PostPosted: Wed Jan 20, 2016 7:20 am 
Club Captain
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Joined: Dec 17 2015
Posts: 140
Jake the Peg wrote:You really shouldn't start a row with an accountant about company accounts when you clearly don;t know what you're talking about


What bits do you think are clearly wrong?
She has yet to produce one single meaningful figure to back up her argument.

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 Post subject: Re: The Derby
PostPosted: Wed Jan 20, 2016 7:27 am 
International Board Member
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Joined: Jul 15 2005
Posts: 29811
Location: West Yorkshire
Keith_Lard wrote:Hull FC showed a profit of £32,000 when Pearson took over the club.
Are you stating that Pearson took on £2 million pounds worth of debt when buying the company?
Who carried out due diligence on his behalf if so?
The loss of £2.7 million has been achieved on his watch.

Any depreciation in assets is shown on the P&L account.
So if Pearson followed the accountants recommendations and didn't
show the players as intangible assets it would need to be shown on the profit and loss accounts for that financial period. You may want to look up the term reducing balance or straight line method when dealing with company assets and how it is shown on the profit and loss account.

You are not very good are you.

In your own time... :lol:


Cumulative P&L reserves in 2011 were -£2m. At the end of 2014 they were -£2.7m. The loss in that period was therefore £0.7m.
When the players are attributed a value the asset goes into intangible assets and the corresponding entry is to the revaluation reserve. It even says this in the accounts. Regardless of the movement in valuation, or even if we decided to stop valuing them, there would be no impact on the P&L. You are truly terrible at this.

Nothing on your squad for the weekend then?

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 Post subject: Re: The Derby
PostPosted: Wed Jan 20, 2016 7:31 am 
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Joined: Jul 15 2005
Posts: 29811
Location: West Yorkshire
Interesting about Whiting. We often have the old "won't get a place when everyone's fit" chat only for him to be called on to play in several positions. He captained the team last weekend but it does feel like there are quite a few ahead of him now.

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