Support your family Club

[Northcampshot]

We all know being a Shots supporter is tough at the moment, but in tough times shouldn't we all be sticking together and backing the club to the hilt. A lot of supporters myself included identify with the club in a family scenario and one thing we generally don't do is turn your back on family. I know there's a lot of Shots who are looking to stay away but I would ask those that are thinking of not going to the Rec to think again as this will only hurt the club financially.
The club according to the last accounts had 1.4 million cash debt and shares owned by various large shareholders Circa 1 million No one is going to stump up the money to buy the club and realign it's finances. 3 million is what I feel is needed to buy out and kick on, so we are stuck with the status quo hence why I feel we need to support now in times of trouble.

Nice sentiment as others have said, but the club is not giving us much to feel that good abut is it. The current setup is not doing much to pull us all together and there is no indication of anything changing anytime soon. Apart from last season we have had a constant fight against relelagation, the board have no ambition and obviously no money either.

If we were being entertained each week it might be different. So well done WTF for trying to be positive but it might take a bit more than your rallying call for me.

[WTF]

We all know being a Shots supporter is tough at the moment, but in tough times shouldn't we all be sticking together and backing the club to the hilt. A lot of supporters myself included identify with the club in a family scenario and one thing we generally don't do is turn your back on family. I know there's a lot of Shots who are looking to stay away but I would ask those that are thinking of not going to the Rec to think again as this will only hurt the club financially.
The club according to the last accounts had 1.4 million cash debt and shares owned by various large shareholders Circa 1 million No one is going to stump up the money to buy the club and realign it's finances. 3 million is what I feel is needed to buy out and kick on, so we are stuck with the status quo hence why I feel we need to support now in times of trouble.

When Deane Wood came in we were told he had taken on the total club debt at that time of £750k. How can the debt now be 1.4 million?

If we look at the accounts for 2022/23 and the cash position discounting the fixed assets then we have the following
108k Current Assets
1,144k Creditors within 1 year
414k Creditors after 1 year.
Therefore from a cash perspective, at June 30th 2023 we were negative £1,450,000.
Of course the position may now be much improved

[Rba]

WTF, how do you get to that debt or were can I see this information. Thank you.

[WTF]

WTF, how do you get to that debt or were can I see this information. Thank you.

From the annual accounts, these can be found at "Beta Companies House"

[Josh]

As families go, we're on a par with Meghan Markle's family.

I thought the debt built up in Waddock's last year (18-19), for which he must take some blame, was well over a million.

If you're going to charge £21/23 then you've got to give something in return

[Rba]

WTF, how do you get to that debt or were can I see this information. Thank you.

From the annual accounts, these can be found at "Beta Companies House"

Thank you.

[IanShots]

We all know being a Shots supporter is tough at the moment, but in tough times shouldn't we all be sticking together and backing the club to the hilt. A lot of supporters myself included identify with the club in a family scenario and one thing we generally don't do is turn your back on family. I know there's a lot of Shots who are looking to stay away but I would ask those that are thinking of not going to the Rec to think again as this will only hurt the club financially.
The club according to the last accounts had 1.4 million cash debt and shares owned by various large shareholders Circa 1 million No one is going to stump up the money to buy the club and realign it's finances. 3 million is what I feel is needed to buy out and kick on, so we are stuck with the status quo hence why I feel we need to support now in times of trouble.

When Deane Wood came in we were told he had taken on the total club debt at that time of £750k. How can the debt now be 1.4 million?

If we look at the accounts for 2022/23 and the cash position discounting the fixed assets then we have the following
108k Current Assets
1,144k Creditors within 1 year
414k Creditors after 1 year.
Therefore from a cash perspective, at June 30th 2023 we were negative £1,450,000.
Of course the position may now be much improved

You would have to hope it’s a little better now, following last season. However my original point about being told we had a £750 debt and Deane Wood had taken this full debt on so that we didn’t owe money to anyone else was what we were told at that time. That suggests that we then somehow managed to double the debt in the next years? All very odd, particularly as during that period we were plainly running on a very small budget to a point where at the start of one season we only had 13 pro’s on the books from what I remember. I can only assume that the original information was inaccurate?

[HackJowarth]

When Deane Wood came in we were told he had taken on the total club debt at that time of £750k. How can the debt now be 1.4 million?

If we look at the accounts for 2022/23 and the cash position discounting the fixed assets then we have the following
108k Current Assets
1,144k Creditors within 1 year
414k Creditors after 1 year.
Therefore from a cash perspective, at June 30th 2023 we were negative £1,450,000.
Of course the position may now be much improved

You would have to hope it’s a little better now, following last season. However my original point about being told we had a £750 debt and Deane Wood had taken this full debt on so that we didn’t owe money to anyone else was what we were told at that time. That suggests that we then somehow managed to double the debt in the next years? All very odd, particularly as during that period we were plainly running on a very small budget to a point where at the start of one season we only had 13 pro’s on the books from what I remember. I can only assume that the original information was inaccurate?

If indeed Deane has taken over the entire debt, including his c£750k loan, I would hope to see him takeover as Chairman and become majority shareholder. His business acumen and knowledge of running a sports based business would be invaluable to drive the club forward.

[Harlow Massive]

If we look at the accounts for 2022/23 and the cash position discounting the fixed assets then we have the following
108k Current Assets
1,144k Creditors within 1 year
414k Creditors after 1 year.
Therefore from a cash perspective, at June 30th 2023 we were negative £1,450,000.
Of course the position may now be much improved

You would have to hope it’s a little better now, following last season. However my original point about being told we had a £750 debt and Deane Wood had taken this full debt on so that we didn’t owe money to anyone else was what we were told at that time. That suggests that we then somehow managed to double the debt in the next years? All very odd, particularly as during that period we were plainly running on a very small budget to a point where at the start of one season we only had 13 pro’s on the books from what I remember. I can only assume that the original information was inaccurate?

If indeed Deane has taken over the entire debt, including his c£750k loan, I would hope to see him takeover as Chairman and become majority shareholder. His business acumen and knowledge of running a sports based business would be invaluable to drive the club forward.

I agree with that HJ 100%!

[James Frazer]

The balance sheet details from the 2023 accounts are :-

CREDITORS
Creditors Due Within One Year
Preference Shares 60,000
Overdraft 10,000
Trade Creditors 86,913
Accruals 136,922
Other Taxes & NI 58,260
Other Creditors 791,734 *

1,143,829


Creditors Due After One Year
Bank Loans 414,000

414,000

TOTAL CREDITORS 1,557,829

* Includes a secured loan of 394,000 from English Sports Council


Fixed Assets 380,944
Current Assets 108,158

Total Assets 489,102


People keep posting comments about the "profits" from last year. The 2024 accounts have not yet been filed so unless someone has inside information all we are really getting is speculation, some of it probably on the wildly optimistic side (please provide factual details if you believe otherwise).
We know that gate receipts would have been higher in the 2023/24 season and that there would have been extra funds from the cup competitions. We believe that there would have been transfer fees received but do not know the amounts. There will have been extra costs and we were told by the chairman that there were significant medical bills. Transfer fees are not necessarily all paid up front so the amounts actually received may well be less than some expect. Until the 2024 accounts are filed I doubt that anyone outside of the club really knows what the true financial picture is and it might be best to prefix any claims in that area with "my guess is".

[HackJowarth]

The balance sheet details from the 2023 accounts are :-

CREDITORS
Creditors Due Within One Year
Preference Shares 60,000
Overdraft 10,000
Trade Creditors 86,913
Accruals 136,922
Other Taxes & NI 58,260
Other Creditors 791,734 *

1,143,829


Creditors Due After One Year
Bank Loans 414,000

414,000

TOTAL CREDITORS 1,557,829

* Includes a secured loan of 394,000 from English Sports Council


Fixed Assets 380,944
Current Assets 108,158

Total Assets 489,102


People keep posting comments about the "profits" from last year. The 2024 accounts have not yet been filed so unless someone has inside information all we are really getting is speculation, some of it probably on the wildly optimistic side (please provide factual details if you believe otherwise).
We know that gate receipts would have been higher in the 2023/24 season and that there would have been extra funds from the cup competitions. We believe that there would have been transfer fees received but do not know the amounts. There will have been extra costs and we were told by the chairman that there were significant medical bills. Transfer fees are not necessarily all paid up front so the amounts actually received may well be less than some expect. Until the 2024 accounts are filed I doubt that anyone outside of the club really knows what the true financial picture is and it might be best to prefix any claims in that area with "my guess is".

What is your guess?

[James Frazer]

[quote="James Frazer" post_id=795500 time=<a href="tel:1737130448">1737130448</a> user_id=3172]
The balance sheet details from the 2023 accounts are :-

CREDITORS
Creditors Due Within One Year
Preference Shares 60,000
Overdraft 10,000
Trade Creditors 86,913
Accruals 136,922
Other Taxes & NI 58,260
Other Creditors 791,734 *

1,143,829


Creditors Due After One Year
Bank Loans 414,000

414,000

TOTAL CREDITORS 1,557,829

* Includes a secured loan of 394,000 from English Sports Council


Fixed Assets 380,944
Current Assets 108,158

Total Assets 489,102


People keep posting comments about the "profits" from last year. The 2024 accounts have not yet been filed so unless someone has inside information all we are really getting is speculation, some of it probably on the wildly optimistic side (please provide factual details if you believe otherwise).
We know that gate receipts would have been higher in the 2023/24 season and that there would have been extra funds from the cup competitions. We believe that there would have been transfer fees received but do not know the amounts. There will have been extra costs and we were told by the chairman that there were significant medical bills. Transfer fees are not necessarily all paid up front so the amounts actually received may well be less than some expect. Until the 2024 accounts are filed I doubt that anyone outside of the club really knows what the true financial picture is and it might be best to prefix any claims in that area with "my guess is".

What is your guess?
[/quote]


I don’t have one. I prefer to wait for the actual results rather then speculate.

[WTF]

The balance sheet details from the 2023 accounts are :-

CREDITORS
Creditors Due Within One Year
Preference Shares 60,000
Overdraft 10,000
Trade Creditors 86,913
Accruals 136,922
Other Taxes & NI 58,260
Other Creditors 791,734 *

1,143,829


Creditors Due After One Year
Bank Loans 414,000

414,000

TOTAL CREDITORS 1,557,829

* Includes a secured loan of 394,000 from English Sports Council


Fixed Assets 380,944
Current Assets 108,158

Total Assets 489,102


People keep posting comments about the "profits" from last year. The 2024 accounts have not yet been filed so unless someone has inside information all we are really getting is speculation, some of it probably on the wildly optimistic side (please provide factual details if you believe otherwise).
We know that gate receipts would have been higher in the 2023/24 season and that there would have been extra funds from the cup competitions. We believe that there would have been transfer fees received but do not know the amounts. There will have been extra costs and we were told by the chairman that there were significant medical bills. Transfer fees are not necessarily all paid up front so the amounts actually received may well be less than some expect. Until the 2024 accounts are filed I doubt that anyone outside of the club really knows what the true financial picture is and it might be best to prefix any claims in that area with "my guess is".

To be honest it doesn't matter now what the financial results were last year, what matters is where we are now.
There was a time when the club use to have the results out latest October now it's March, so it's always going to be old news!

[IanShots]

The balance sheet details from the 2023 accounts are :-

CREDITORS
Creditors Due Within One Year
Preference Shares 60,000
Overdraft 10,000
Trade Creditors 86,913
Accruals 136,922
Other Taxes & NI 58,260
Other Creditors 791,734 *

1,143,829


Creditors Due After One Year
Bank Loans 414,000

414,000

TOTAL CREDITORS 1,557,829

* Includes a secured loan of 394,000 from English Sports Council


Fixed Assets 380,944
Current Assets 108,158

Total Assets 489,102


People keep posting comments about the "profits" from last year. The 2024 accounts have not yet been filed so unless someone has inside information all we are really getting is speculation, some of it probably on the wildly optimistic side (please provide factual details if you believe otherwise).
We know that gate receipts would have been higher in the 2023/24 season and that there would have been extra funds from the cup competitions. We believe that there would have been transfer fees received but do not know the amounts. There will have been extra costs and we were told by the chairman that there were significant medical bills. Transfer fees are not necessarily all paid up front so the amounts actually received may well be less than some expect. Until the 2024 accounts are filed I doubt that anyone outside of the club really knows what the true financial picture is and it might be best to prefix any claims in that area with "my guess is".

To be honest it doesn't matter now what the financial results were last year, what matters is where we are now.
There was a time when the club use to have the results out latest October now it's March, so it's always going to be old news!

Any idea what the Sports Council loan is for?
That does represent a huge chunk of the increase I was referring to

[James Frazer]

To be honest it doesn't matter now what the financial results were last year, what matters is where we are now.
There was a time when the club use to have the results out latest October now it's March, so it's always going to be old news!

The company year end is 30June so filing accounts by October is unlikely. A quick check of the 1992 version of the club suggests March and April was common.