[Winslade's Offload]

Wire 2013 Accounts : Mon Aug 11, 2014 8:24 pm  

It doesn't seem that we had a great 2013 from a financial viewpoint. Our income (Turnover) fell from approx £6.77M in 2012 to £6.32M and despite a fall in costs we ended up with a gross profit that was £344K lower. I suspect that the majority of this income drop was gate money ( perhaps £200K ? ) due to the fall in attendances at the HJ.

So to counteract the drop in income it looks as though Andy Gatcliffe has been busy cost cutting. We employed 12 fewer players in 2013 (59 in total), two less coaches and trainers, and 3 fewer admin staff. Our Admin expenses consequently fell by £220K, but this saving was wiped out by the cost of transfers (see Daryl Clark thread ) which amounted to a net £215K.

Our net profit for the year ended up as £18K, compared with £344K in 2012.

Here is an interesting question; I have not seen 'net transfers' in the accounts before, so does this mean the club are now expected to finance any future purchase of players ? We have after all heard about owners wanting their clubs to be 'self sustainable' and not be dependant on the owners goodwill. If that is the case, we might need to reign in some of our expectations about which players we would like to see at the club. It could mean that Simms and Clark will be the only big name players joining us next year (other than e.g. OOC free transfers / small purchases on promising youth etc).

Re: Wire 2013 Accounts : Mon Aug 11, 2014 8:38 pm  

Wasn't there a thread on here earlier in the season saying we were £300k under the salary cap and one of the lowest spenders in the league?

Does anyone remember that? It was probably one of rubber duckies threads.

Re: Wire 2013 Accounts : Tue Aug 12, 2014 8:44 am  

Would the revenue from Wembley in 2012 been included in 11/12 or 12/13 reports? (Not sure what our FY is.) Am assuming the latter and so probably makes these results worse if you factor that in.

Re: Wire 2013 Accounts : Tue Aug 12, 2014 8:50 am  

What about the cost of filling in the corners ,or is that a separate budget ?

[Winslade's Offload]

Re: Wire 2013 Accounts : Tue Aug 12, 2014 10:15 am  

ChiswickWire wrote:

Would the revenue from Wembley in 2012 been included in 11/12 or 12/13 reports? (Not sure what our FY is.) Am assuming the latter and so probably makes these results worse if you factor that in.

The accounts are always drawn up to the end of November, so Wembly 2012 revenue should have been in the 2012 accounts.

ninearches wrote:

What about the cost of filling in the corners ,or is that a separate budget ?

The cost of filling in the corners is not included in the profits for a given year - it is viewed as a 'capital item', the same as for e.g. the purchase of a car. These items are depreciated however each year, and the depreciation is a charge included in the Profit and Loss account. So if the corners cost 1 million and the accountant believes they will last 20 years before replacement, the P&L would incur a charge of £50K each year. The money for the corners came largely from additional borrowing.

Re: Wire 2013 Accounts : Tue Aug 12, 2014 1:31 pm  

Winslade's Offload wrote:

Here is an interesting question; I have not seen 'net transfers' in the accounts before, so does this mean the club are now expected to finance any future purchase of players ? We have after all heard about owners wanting their clubs to be 'self sustainable' and not be dependant on the owners goodwill. If that is the case, we might need to reign in some of our expectations about which players we would like to see at the club. It could mean that Simms and Clark will be the only big name players joining us next year (other than e.g. OOC free transfers / small purchases on promising youth etc).

I would think it was reasonable for Simon Moran to expect the club to be self-sustaining now, he became majority shareholder about ten years ago and he put a lot in in that time especially the early years to catapult us to the position where we became trophy winners.

He's not indicated he wants to leave his involvement with the club but it's reasonable now that we are a big hitter in the game that we're not expecting him to keep putting in his own cash. Fair enough if he wants to pump some more in for a specific project he is interested in but he shouldn't feel like the fans feel there's some obligation on him to underwrite more big money cash transfers all the time. Fans can get behind the club by putting their money in too.

Re: Wire 2013 Accounts : Tue Aug 12, 2014 2:01 pm  

I've not seen the 2013 accounts but from 25+ years in accountancy I can tell you something...............................you will NOT get the full story from ready the numbers. Basically only the board and the major shareholders will know the ins-and-out of where the money is or the money goes.

[Winslade's Offload]

Re: Wire 2013 Accounts : Tue Aug 12, 2014 2:41 pm  

sally cinnamon wrote:

I would think it was reasonable for Simon Moran to expect the club to be self-sustaining now, he became majority shareholder about ten years ago and he put a lot in in that time especially the early years to catapult us to the position where we became trophy winners.

He's not indicated he wants to leave his involvement with the club but it's reasonable now that we are a big hitter in the game that we're not expecting him to keep putting in his own cash. Fair enough if he wants to pump some more in for a specific project he is interested in but he shouldn't feel like the fans feel there's some obligation on him to underwrite more big money cash transfers all the time. Fans can get behind the club by putting their money in too.

Yes, could be true. Perhaps he viewed the last step in his regeneration project was to ensure the youth system was firmly established and producing a steady stream of players. He may even view it as a failure if he needs to put his hands in his pocket and buy us back into a top 4 place.

I suspect this set of accounts could be the poorest we are likely to see for some time. In the interim, all SL clubs were given an immediate £300k from Sky as part of the new franchise deal. On top of that we negotiated that big sponsorship deal with Emirates and also got a very good deal for the catering contract. The last I heard, the RFL were going to stump up half the money for a SL club to run an Academy, and by 2016 Sky will essentially be paying each club for their entire playing staff - providing we don't raise the salary cap of course.

Re: Wire 2013 Accounts : Tue Aug 12, 2014 7:20 pm  

Winslade's Offload wrote:

Yes, could be true. Perhaps he viewed the last step in his regeneration project was to ensure the youth system was firmly established and producing a steady stream of players. He may even view it as a failure if he needs to put his hands in his pocket and buy us back into a top 4 place.

I suspect this set of accounts could be the poorest we are likely to see for some time. In the interim, all SL clubs were given an immediate £300k from Sky as part of the new franchise deal. On top of that we negotiated that big sponsorship deal with Emirates and also got a very good deal for the catering contract. The last I heard, the RFL were going to stump up half the money for a SL club to run an Academy, and by 2016 Sky will essentially be paying each club for their entire playing staff - providing we don't raise the salary cap of course.

Were any figures ever released for the Emirates sponsorship? The pessimist in me has always suspected that it was a case of shirt sponsor in return for biannual flights to Sydney.

[Winslade's Offload]

Re: Wire 2013 Accounts : Tue Aug 12, 2014 8:01 pm  

Ganson's Optician wrote:

Were any figures ever released for the Emirates sponsorship? The pessimist in me has always suspected that it was a case of shirt sponsor in return for biannual flights to Sydney.

You are normally quite an optimistic poster !

The club were quoted in the Guardian as saying that it was their biggest ever deal and that it was the most high profile in RL. But before it was announced somebody on here met the chairman waiting for a train and he let slip that it was " a 7 figure sum over 4 years". That would equate to a minimum of £250K/year.

You can rightly argue that this is just hearsay (particularly in your profession), but the information seems to hang together - the time period was spot on and the figure looks large without sounding silly. But yes, you have to judge it yourself.