Accounts : Thu Sep 05, 2019 8:39 am  

https://beta.companieshouse.gov.uk/company/00174692/filing-history A loss of £1.4 million- ugly stuff. Particularly the part where the auditors expressed 'material uncertainty' about the ability of the company to continue. I like everyone was happy to see marquee players brought in for next year but is it viable?

https://beta.companieshouse.gov.uk/company/00174692/filing-history A loss of £1.4 million- ugly stuff. Particularly the part where the auditors expressed 'material uncertainty' about the ability of the company to continue. I like everyone was happy to see marquee players brought in for next year but is it viable?

Re: Accounts : Thu Sep 05, 2019 9:21 am  

It's forgivable to see why IL battened down and moved on expensive assets.
Wane pointed out as responsible, with crowds down around 1/3 under his tender?

Re: Accounts : Thu Sep 05, 2019 9:26 am  

So the club owes IFL ~£5.3M?

Re: Accounts : Thu Sep 05, 2019 9:48 am  

Not cool. We need to reduce costs if we can't improve attendances. God knows what state we will be in if we stop making finals regularly.

Re: Accounts : Thu Sep 05, 2019 9:52 am  

[Gareth] wrote:

So the club owes IFL ~£5.3M?

Yup, and c.£800k to Barclays.

Absent a transformational new TV deal, the only real solution is to get crowds up. The club still would have lost c.£1m playing rent free and it isn’t feasible to find that in the playing budget, so it looks like something fundamental is needed operationally.

Re: Accounts : Thu Sep 05, 2019 10:19 am  

Looks like we're going to need crowds to go up by 2/3k per match next season, problem is it's incredibly difficult to entice fans back once they've got out of the habit of going to a game. Not good at all.

Re: Accounts : Thu Sep 05, 2019 10:44 am  

A very poor set of results no doubt with issues that need to be addressed. the stadium rent however isn't the main one. £300K isn't a lot to pay for a stadium of that quality when you take into account the running costs involved.
The Australia trip was a risk, very enjoyable for those like me who went, but the publicity/promotion of the second games was almost non-existent, plus playing it at the ANZ didn't help. A more Sydney central location like the Sydney Football Stadium would probably have been better attended.

The shareholders meeting should be interesting!!

Re: Accounts : Thu Sep 05, 2019 11:09 am  

Will this put to bed the "tight" digs at IL from some quarters? Somehow I doubt it. That we have announced the signings we have for next season is astounding given these figures. It's time for fans to get behind the club and stop looking for reasons not to go.

Re: Accounts : Thu Sep 05, 2019 12:07 pm  

Phuzzy wrote:

Will this put to bed the "tight" digs at IL from some quarters? Somehow I doubt it. That we have announced the signings we have for next season is astounding given these figures. It's time for fans to get behind the club and stop looking for reasons not to go.

I tire of people slagging off IL for being "tight".
I don't know many fans or potential investors who would stump up the money as IL.
The new Robin Park set should improve income streams however, it's pretty apparent as someone as already stated we need an extra two to three extra speccies for every home game.
The impairment cost on Edge Hall Road is a little surprising.

Re: Accounts : Thu Sep 05, 2019 12:31 pm  

Itchy Arsenal wrote:

I tire of people slagging off IL for being "tight".
I don't know many fans or potential investors who would stump up the money as IL.
The new Robin Park set should improve income streams however, it's pretty apparent as someone as already stated we need an extra two to three extra speccies for every home game.
The impairment cost on Edge Hall Road is a little surprising.

If only that's all it would take mate!

I agree. Some of of the stick IL receives is utterly ludicrous. For the most part, though, it comes from people who readily admit that they don't attend matches, which beggars belief. I've heard all sorts of reasons why people supposedly don't go but the main 2 have been lack of quality signings and playing style. Well, the Club has looked to address both these issues for next season so it will be interesting to see if the 'stay away fans' actually reciprocate and dip their hands in their pockets. My guess is they'll chose to populate forums and social media regaling us with their collective wisdom on what's wrong with the club.