Annual Accounts
#1
Posted 23 July 2016 - 06:54 PM
I wrote to Ashley C to find out how to get an item on the agenda at the AGM and I mentioned the actual item I want including, which is ....
'That a paper copy of the full accounts be kept in the office to allow perusal at an appointed time by a shareholder'
I received this reply from Ashley, who has confirmed that he is happy for me to reproduce it here...
Sent Yesterday, 04:13 PM
David
I am going to release much more details this year in the accounts. We have previously restricted some of the figures.
Are you a shareholder ? I am.happy to share more detail with you. But if required I am happy to agree with your proposal any way. I don't need board approval.
Ashleyc
#2
Posted 23 July 2016 - 07:06 PM
Why has he restricted figures in the past?? I'm not a accountant help please Freelander!
#3
Posted 23 July 2016 - 07:24 PM
Lest my hope going forward that such things are detailed so we can who's been sold for what, who's been stealing a wage and who deserves every penny of their players salary.
I doubt it'll go in to that much detail, sadly.
#4
Posted 23 July 2016 - 07:31 PM
dim view, on 23 July 2016 - 06:54 PM, said:
I wrote to Ashley C to find out how to get an item on the agenda at the AGM and I mentioned the actual item I want including, which is ....
'That a paper copy of the full accounts be kept in the office to allow perusal at an appointed time by a shareholder'
I received this reply from Ashley, who has confirmed that he is happy for me to reproduce it here...
Sent Yesterday, 04:13 PM
David
I am going to release much more details this year in the accounts. We have previously restricted some of the figures.
Are you a shareholder ? I am.happy to share more detail with you. But if required I am happy to agree with your proposal any way. I don't need board approval.
Ashleyc
It will be interesting to see what you get! What we got as shareholders were abridged accounts with limited breakdown that didn't show commercial revenue nor the precise breakdown of off field costs and wages!
There has also been a recent legislative change for companies which are micro entities with a turnover of less than £10 million which means if they opt to, in the future you get much less information than abridged accounts we saw last year.....
This post has been edited by Middle East: 23 July 2016 - 07:32 PM
#5
Posted 23 July 2016 - 07:34 PM
Middle East, on 23 July 2016 - 07:31 PM, said:
There has also been a recent legislative change for companies which are micro entities with a turnover of less than £10 million which means if they opt to, in the future you get much less information than abridged accounts we saw last year.....
Micro-entities
A turnover of £632,000 or less
£316,000 or less on its balance sheet
10 employees or less
#6
Posted 23 July 2016 - 07:40 PM
freelander2, on 23 July 2016 - 07:34 PM, said:
A turnover of £632,000 or less
£316,000 or less on its balance sheet
10 employees or less
Apologies (put it down to the wine) I meant to say small companies which in the presentation I had this week was £10 million but I believe may be £6.5 million....either way we don't have a sufficient breakdown atm and I am very sceptical whether AC will be giving dim fully audited CT accounts!
Corporation Tax not Chris Turner....
This post has been edited by Middle East: 23 July 2016 - 07:42 PM
#7
Posted 23 July 2016 - 07:42 PM
Sammy Spireite, on 23 July 2016 - 07:24 PM, said:
Lest my hope going forward that such things are detailed so we can who's been sold for what, who's been stealing a wage and who deserves every penny of their players salary.
I doubt it'll go in to that much detail, sadly.
I don't think we should crticise until we see what we get. We won't have to wait long
At least we should see our player budget, other staff budget, bonuses, transfer in/out etc, broken down. A cause for endless debate and confusion in the past
This post has been edited by azul: 23 July 2016 - 07:42 PM
#8
Posted 23 July 2016 - 07:43 PM
Forever a Spireite, on 23 July 2016 - 07:06 PM, said:
Why has he restricted figures in the past?? I'm not a accountant help please Freelander!
In terms of turnover, AC might decide to show what contributes to the total income. For example, separate figures for gate receipts & ST income, commercial income, conf & banq income, transfer fees, etc.
Likewise, with overheads, he might decide to show how much is spent on vehicle hire/leasing, accommodation, insurance, professional fees, heating,light and power, advertising, bank charges, matchday expenses, etc.
Although this level of detail wasn't included in last years accounts, AC was prepared to, and did, release figures for shareholders at the AGM last November.
#9
Posted 23 July 2016 - 07:45 PM
freelander2, on 23 July 2016 - 07:43 PM, said:
Likewise, with overheads, he might decide to show how much is spent on vehicle hire/leasing, accommodation, insurance, professional fees, heating,light and power, advertising, bank charges, matchday expenses, etc.
Although this level of detail wasn't included in last years accounts, AC was prepared to, and did, release figures for shareholders at the AGM last November.
I also got this......
Sent Today, 01:09 PM
David
Yes I am happy for you to mention it.
Normally the accounts are consiladated with not a lot of detail. I am intending to supply and additional page this year with a more detailed breakdown of expenditure and into various categories. I want to be more open and transparent and I think shareholders have a right to know where all the money goes !! Happy for you to post this.
#10
Posted 23 July 2016 - 07:45 PM
freelander2, on 23 July 2016 - 07:43 PM, said:
Likewise, with overheads, he might decide to show how much is spent on vehicle hire/leasing, accommodation, insurance, professional fees, heating,light and power, advertising, bank charges, matchday expenses, etc.
Although this level of detail wasn't included in last years accounts, AC was prepared to, and did, release figures for shareholders at the AGM last November.
The stewarding costs should be interesting
#11
Posted 23 July 2016 - 08:03 PM
dim view, on 23 July 2016 - 07:45 PM, said:
Sent Today, 01:09 PM
David
Yes I am happy for you to mention it.
Normally the accounts are consiladated with not a lot of detail. I am intending to supply and additional page this year with a more detailed breakdown of expenditure and into various categories. I want to be more open and transparent and I think shareholders have a right to know where all the money goes !! Happy for you to post this.
Thanks for sharing.
The notes that accompany the accounts also cover related party transactions concerning the directors of the business. Even though Chris Turner is not an executive officer of CFC 2001, I would hope that AC will consider listing any transactions involving CFC 2001 Ltd and those companies which the CEO has / had an interest in, mainly CFC Football Development School Ltd & CFC International Football Academy Ltd.
#12
Posted 23 July 2016 - 08:49 PM
Middle East, on 23 July 2016 - 07:40 PM, said:
Corporation Tax not Chris Turner....
"Put it down to the wine"... Not my bloomin bottle I hope?..