PapaLazarou Posted July 31, 2023 Share Posted July 31, 2023 (edited) Anyone read these yet? The interesting section is the auditors view on the club being a going concern. Seems that the clubs liabilities at the time of financial reporting outweighed its assets by over £65 million pounds. Which, the auditors say “cast significant doubt on the company’s ability to continue as a going concern” Welcome to Football 2023. Edited July 31, 2023 by PapaLazarou Link to comment Share on other sites More sharing options...
Alextopman Posted July 31, 2023 Share Posted July 31, 2023 (edited) It sounds like they're in a precarious financial position. Edited July 31, 2023 by Alextopman Link to comment Share on other sites More sharing options...
Janet24 Posted July 31, 2023 Share Posted July 31, 2023 The view of the posters on Owlstalk seems widely positive - strange how perceptions vary ! Link to comment Share on other sites More sharing options...
Prettytom Posted July 31, 2023 Share Posted July 31, 2023 13 minutes ago, PapaLazarou said: Anyone read these yet? The interesting section is the auditors view on the club being a going concern. Seems that the clubs liabilities at the time of financial reporting outweighed its assets by over £65 million pounds. Which, the auditors say “cast significant doubt on the company’s ability to continue as a going concern” Welcome to Football 2023. I think that we owe most of that to Mrs Chansiri. Which is probably ok as long as nobody chucks those golden elephants into the Don. Link to comment Share on other sites More sharing options...
NERVY-OWL Posted July 31, 2023 Share Posted July 31, 2023 I leave accounts well alone, can't make heads nor tails out of them most of the time but at least Chansiri was right when he said they'd be in on time no no penalties to add to the other liabilities 🙂 Link to comment Share on other sites More sharing options...
PapaLazarou Posted July 31, 2023 Author Share Posted July 31, 2023 (edited) 1 hour ago, Janet24 said: The view of the posters on Owlstalk seems widely positive - strange how perceptions vary ! Perception? I don’t think I have utilised or inferred any perception. I have merely quoted facts. The statement is fact. The £65m imbalance between liabilities & assets is fact. And the £7m loss is fact. No perception used. Just facts. Edited July 31, 2023 by PapaLazarou Link to comment Share on other sites More sharing options...
Man in Crete Posted July 31, 2023 Share Posted July 31, 2023 1 hour ago, Janet24 said: The view of the posters on Owlstalk seems widely positive - strange how perceptions vary ! Soooo…… I must caution you there. Only last Friday on a different thread Wednesdays financial expert on here , dr tops wrote “ Owlstalk in no way represents the majority of SWFC fans, it's run by a woke leftie clown “!. I regret therefore that your comments count for nothing …. Zero in fact! Link to comment Share on other sites More sharing options...
HeHasRisen Posted July 31, 2023 Share Posted July 31, 2023 1 hour ago, NERVY-OWL said: I leave accounts well alone, can't make heads nor tails out of them most of the time but at least Chansiri was right when he said they'd be in on time no no penalties to add to the other liabilities 🙂 If this is regarding the accounts being submitted to Companies House the initial fine for them being submitted late is a whole £200, although it does go up the later it's left. Link to comment Share on other sites More sharing options...
Prettytom Posted July 31, 2023 Share Posted July 31, 2023 (edited) 29 minutes ago, Man in Crete said: Soooo…… I must caution you there. Only last Friday on a different thread Wednesdays financial expert on here , dr tops wrote “ Owlstalk in no way represents the majority of SWFC fans, it's run by a woke leftie clown “!. I regret therefore that your comments count for nothing …. Zero in fact! Maybe you’d like to read the accounts yourself and give us your considered opinion of them. You could even try to do it in proper sentences, if you like. After all, you were massively interested in them a few days ago. Off you pop. 1 hour ago, PapaLazarou said: Perception? I don’t think I have utilised or inferred any perception. I have merely quoted facts. The statement is fact. The £65m imbalance between liabilities & assets is fact. And the £7m loss is fact. No perception used. Just facts. The £7m loss isn’t hugely surprising and it’s much less than many clubs. Most of the £65m imbalance is owed to Sheffield 3, I believe. So as long as Chansiri doesn’t pull the plug, it really isn’t a concern. Generally, I’d say that the accounts could be better, but they could be worse. Indeed they have been much worse, very recently. Edited July 31, 2023 by Prettytom Link to comment Share on other sites More sharing options...
NERVY-OWL Posted July 31, 2023 Share Posted July 31, 2023 (edited) 27 minutes ago, Prettytom said: Maybe you’d like to read the accounts yourself and give us your considered opinion of them. You could even try to do it in proper sentences, if you like. After all, you were massively interested in them a few days ago. Off you pop. The £7m loss isn’t hugely surprising and it’s much less than many clubs. Most of the £65m imbalance is owed to Sheffield 3, I believe. So as long as Chansiri doesn’t pull the plug, it really isn’t a concern. Generally, I’d say that the accounts could be better, but they could be worse. Indeed they have been much worse, very recently. Very true. 25 million loses at one point wasn't it? Not sure if these accounts are from league 1 or that's for the next lot of accounts. I expected the loses to be over 10 million and like you say not many championship clubs are making a profit, even United without player sales would of been making a loss I bet. Edited July 31, 2023 by NERVY-OWL Link to comment Share on other sites More sharing options...
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