Basic gist: Our current debt is about £90M, and we only made £4M profit this year. The Allams increased their management fee from £112k to £165k a year, and are still charging 4% interest on the now £78M we owe them. As far as I know Mike Ashley still charges 0% on his loans to Newcastle. Lloyds gave us a loan to cover us waiting for money to come in, and they're charging us 2.25%. The money we owe elsewhere we're getting charged 5% on. We didn't pay any tax again. (Tax and NI on players wages yes, Corporation tax no as we have losses from previous years still to offset against it) A bit more detail, bear in mind all figures are up to the end of June so they don't include anything we did in the transfer window over the summer. Last season £84.1M came into the club (£0.5M down on 11 months filed last year, but no cup run remember) Staff Costs up to £55.6M (from £43.3) Profit of £4M, down from £22M last year, but don't forget last year's accounts being 11 months made that £22M a load of bollocks to start with. Average attendance down to 23,557 from 24,112 Admin costs up to £5.6M, from £4.9 (our admin are down from 23 people to 10 people, but our sales and marketing team is now double the size at about 50) Our playing squad is "worth" about £37M, up from £24.9M (that's because that's what we paid for them minus whatever proportion has been written off because of them being here for however long they've been here. We're now owed £19M by other companies, compared to £7M last year (installments of transfer fees for players sold presumably) We owe £29M to outside sources (presumably installments for transfer fees for players bought) compared to £27M last year. Our debt to the Allams is up to £78M again (£68M in last year's accounts) That means our net debt is now sitting at £87.5M compared to £85M last year. Not a big change really, but not exactly great considering our income for this season will be massively down on last year. Full Accounts (the link to a pdf on 17th October 2015): https://beta.companieshouse.gov.uk/company/04032392/filing-history
how have staff costs gone up so much....i thought they sacked a number of people and cut wages ? as for them interest rates....**** way to run a club .
It means that our numbers will be the second worst in the league, after Bolton, who are a complete basket case.
The higher the debt just means the higher the figure the Allams will have to write off when they eventually sell, if ever.
I don't know what their current debt level is (they run on a different financial year), but they wrote off £60m of their debt to get them out of a FFP fine, so it's far lower than it was.
But also makes it much less likely that they will sell, doesn't it? Nice to see them giving themselves a 50% payrise whilst whacking ticket prices up. No doubt it's fully deserved for what a sterling job they're doing.
Here's the SMC accounts, there's some very odd stuff in here and it's no wonder they don't make a profit, they spent £2.5m on the Training Ground works... https://beta.companieshouse.gov.uk/company/04179402/filing-history
Why would the SMC be paying for works at the training ground? It may be normal practice but appears a little weird to me?
Rather than act like a complete **** why don't you look at the accounts and then make a judgement? Is it fair they're taking a bigger cut and yet jacked up season ticket prices ?
Admin staff reduced from 23 to 10. Sales and Marketing increased from 23 to 58 (or something similar, I'm working from memory) so staff numbers were up. What the **** the sales and marketing staff have been doing to more than double their number is lost on me. Remember as well, previous year figures could be for 11 months due to the change of accounting date. I haven't had chance to compare the 2014 figures given now to the ones filed last year to see if they've adjusted to make a like for like comparison.
I'm looking to get back into sales, applying for jobs everywhere at the moment, looks like I missed out! I'd have loved to have worked for the club, it would no doubt have been interesting! If any of you reprobates know of anyone looking for a 'super brilliant' sales professional that doesn't use swear words let me know
