My spreadsheet above shows 3 years of surrendering losses to group of about £16.8m (@20% that's £3.36m). I had a further thought that maybe I've looked at it all wrong. There's no guarantee that any of the money has actually been paid out. The management fees and loan interest may just have been added to the outstanding loan to Allamhouse (paying interest on the interest). They might not have taken any money out at all yet.
A lie in (or possibly a lie down!) My analysis has been crap but my aim was to assess the accounts and let others dissect my findings. At least we now have a go-to record of all the club's turnover etc. It's amazing to see how different owners (or possibly their accountants) do things.
Your analysis hasn't been crap. I agree with 90% of it. Seems I made a mistake with the allocation of tax losses but I haven't read those accounts for a long time. I also think they are unlikely to have paid off all the Allamhouse debt by the end of this season. When the accounts for Allamhouse are published for the end of this year we'll have a better idea.
I think the next accounts will tell us a lot. I'm interested to know where the funds loaded from the Australian bank were used. Did they pay off part of the Allamhouse loan? I did find it a strange comment in Boy wonders remark in PB interview with the HDM, that they had used the Cott ground as security for the loan, and he said no this was a mistake and was rectified. How you make a mistake putting a loan together with a bank seems very odd. I seem to also remember this loan was against future TV and parachute payments, so how has that all played out?
Financial or operational gearing? If the group loan was replaced by a third party (bank) loan then the financial gearing would be huge (still charging 5% interest as it is!)
P&L Ker-ching! No idea why the investment income line has been left in when there is none this year or last?
Hidden away in the last few pages the football club capital and reserves now stands at minus £18m As at 30/6/17 this figure was minus £38m so looks to me like another £20m profit since June which I assume will be used to pay back Allamhouse. £30m would now buy the club and SMC (if the Allams want their money back)
