Re: Spirit of 1873 Ltd accounts : Thu Sep 05, 2024 1:36 pm
vastman wrote:
Yep they are interesting.
What it makes clear to me is that the club was not the basket case some suggest. In fact compared to some SL clubs it was positively solvent.
However it’s also clear that it was heavily beholden to its directors. This is not unusual but it’s clear to me that we’d hit the limit as to what the old directors could provide.
Always amused me does the asset value, it’s a real piece of accountants flim flam. Yes technically the East stand is an 8 million pound asset. However I’m unsure as to how anyone else other than Trinity could realise that it’s potential. In truth it’s worth bob all without a team that can fill it. But so far as our books are concerned it makes a huge difference.
So we’ve cleared all loans, which is brilliant as we have a clean sheet. We have assets. We have increased income despite relegation (bar SKY money). This income will only increase as the new East stands potential is fully realised.
Who wouldn’t want a RL club like that in SL - we will soon find out whether IMG are all they are cracked up to be - or if the insanity of RL will continue.
What it makes clear to me is that the club was not the basket case some suggest. In fact compared to some SL clubs it was positively solvent.
However it’s also clear that it was heavily beholden to its directors. This is not unusual but it’s clear to me that we’d hit the limit as to what the old directors could provide.
Always amused me does the asset value, it’s a real piece of accountants flim flam. Yes technically the East stand is an 8 million pound asset. However I’m unsure as to how anyone else other than Trinity could realise that it’s potential. In truth it’s worth bob all without a team that can fill it. But so far as our books are concerned it makes a huge difference.
So we’ve cleared all loans, which is brilliant as we have a clean sheet. We have assets. We have increased income despite relegation (bar SKY money). This income will only increase as the new East stands potential is fully realised.
Who wouldn’t want a RL club like that in SL - we will soon find out whether IMG are all they are cracked up to be - or if the insanity of RL will continue.
Great Post
