Review of the business 2012 £ £ Turnover 11,075,152 11,042,457 Gross loss 26,102,168 17,353,721 Loss before tax (after parachute payments) 25,628,171 8,771,007 Staff costs 25,894,221 19,005,220 Net debt 72,169,455 48,752,420 Average league home attendance 17,368 18,790 An amount of £24m was advanced by Allamhouse Limited in the year, which brings the total amounts advanced to £72m.
Profit & loss account 2012 £ £ Turnover 11,075,152 11,042,457 Cost of sales (34,879,460) (24,761,838) Amotisation of player registrations (2,297,860) (3,634,340) Gross loss (26,102,168) (17,353,721) Administrative expenses (3,035,050) (2,961,715) Operating loss (29,137,218) (20,315,436) Exceptional items Profit on the disposal of player registrations 465,300 606,740 Parachute payments 5,887,363 13,015,766 Interest payable (2,843,616) (2,078,077) Loss before tax (25,628,171) (8,771,007)
Balance sheet 2012 £ £ Intangible assets (mainly players) NBV b/f 3,212,076 Additions 13,442,780 Amortisation (2,297,860) NBV c/f 14,356,996 3,212,076 Tangible fixed assets (vehicles, fixtures & fittings, tootls & equipment) NBV b/f 562,939 Additions 137,513 Depreciation (207,122) Disposals (45,693) NBV c/f 447,637 562,939 Stocks 153,126 342,301 Debtors Trade debtors 3,110,221 1,137,937 Group debts 4,702,679 4,271,257 Other debtors 1,083,386 61,745 Prepayments & accrued income 747,916 803,384 9,644,202 6,274,323 Cash at bank and in hand 735,052 79,250 Creditors (all negatives) Trade creditors 14,222,880 3,012,234 PAYE & NIC & VAT 1,499,229 1,607,562 Other creditors 158,018 3,098 Accruals & deferred income (including season tickets) 9,613,933 4,052,623 25,494,060 8,675,517 Director's loan - Dr A Allam (825,000) (825,000) Owed to Allamhouse Limited (72,079,507) (48,006,670) (72,904,507) (48,831,670) Provisions for liabilities (HMRC enquiry) (476,553) (873,638) Net liabilities (73,538,107) (47,909,936) Share capital 1,316,001 1,316,001 Profit & loss account (74,854,108) (49,225,937) (73,538,107) (47,909,936) Contingent liabilities in respect of payments to players, depending on appearances and results 2,728,050
Do they not have "Cash and cash equivalents" any more (IAS may have changed since my accy days)? Doesn't appear to be under either debtors or creditors.
HULL City’s latest accounts show that the cost of winning promotion to the Premier League was more than £25m. According to the documents made available by Companies House yesterday, owner Assem Allam again pumped in £24m to fund Steve Bruce’s bid for the top flight, taking his overall investment in Hull City to the £72m mark. Before tax, the club lost £25,628,171 for the accounts which date to July 31, 2013 as they made it back to the Premier League for only the second time in their history – an increase of a whopping £16,857,170 on the £8,771,007 made for the previous 12-month period. City’s turnover for the whole of last season was £11,075,152 which included a final parachute payment of £5,887,363 from when they were last in the top flight. City accounts also show they have allocated £476,553 to meet any liabilities which may arise from an ongoing enquiry from Her Majesty’s Revenue and Customs with regards to tax. http://www.hulldailymail.co.uk/Hull...tory-20266062-detail/story.html#ixzz2mb4X1BSa
Has Allam bitten off more then he can chew? I'm no accountant, but them accounts don't look great reading to me.
Am I reading that right, that we've made a loss of 25 million on a turnover of 11 million? Jesus wept, if we go down we're in the **** again aren't we?
Hmmm are you sure £11m turnover includes the £5m parachute payments, our turnover the year before was £11m without the parachute payments. Is the HDM reading this wrong?
I didn't realise we'd spent £13m on player purchases in that year? Did the parachute payments reduce to £6m? Of course the current year will be totally different.
HDM have got it wrong. If you look at the profit & loss account above the parachute payments are shown separately as exceptional items.
Aren't there a lot of extras under those figures? Ie promotion bonuses, first month of increased wage, maybe some transfer fees like Boyds etc. possibly even the cost of upgrades to the stadium like the new camera positions, goal line tech, new telly box?
If we've had parachute payments of ~£6 million, and by my maths season pass income of ~£3 million, that means from EVERY other source of income for the club - tv rights, sponsorship, walk up tickets, player sales, corporate sales, we've only turned over £2 million. Maybe looking to exploit those areas would be a start in increasing our revenue? I noticed at the weekend the advertising board by the North East turnstiles still has a poster for last seasons shirt sales. FFS, even if you can't sell it to an outside company (unlikely) then put this years gear in it or advertise the Tigers Trust or something.
IF we go down we have players who we can sell e.g. Hudds, Brady, Chester. More saleable assets than last time we got relegated.
The accounts show that in our promotion season our income (excluding parachute payments and the profit from player sales) increased by only £35,000. In the same period the value of our stocks of goods for resale (which I think is the stock in the shops) fell by nearly £200,000. Unless we dumped it all (in which case there should be a note in the accounts) our income last season was less than the year before.
