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 HGRLFC Balance Sheet

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defleppard
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PostSubject: HGRLFC Balance Sheet   Sun Jul 01, 2012 8:08 am

Here's a link to an image of an > HGRLFC balance sheet (Nicked from t'other forum)

Right,I must confess I don't understand accounts such as these at all.

Anyone who does,could you give us your opinion on what you believe is the current state of play regarding the clubs finances.

I realise these sheets are not up to date,2010 being the latest set of figures on there.

Should we be worried reading any of that,or does it appear all is under control if taking into account the greater scheme of things.

Cheers in advance.
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matt01
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PostSubject: Re: HGRLFC Balance Sheet   Sun Jul 01, 2012 2:01 pm

Well the big negative number -7,325,000 is net worth. That is total assets minus total liabilities. Now I guess whilst KD is bank rolling us that's not a big deal, but without a sugar daddy chairman I think that is very high. Although, its all relative, net worth of RBS will be negative hundreds of billions, but again they have a sugar daddy called the tax payers.

I think its safe to say without Ken we would be in a very similar position to Bradford.
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defleppard
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PostSubject: Re: HGRLFC Balance Sheet   Tue Jul 03, 2012 11:08 am

Would I be right in thinking that the -7.195.000 shareholders funds,is money that the directors (mostly KD no doubt) have lent the club.
If it is,then in the event of KD wanting to pull out and sell the club,this is money he would have to write off,as no one would be willing to pay that back to him and at the same time take on a company of net worth -7,325,000.

So it seems to me that,as long as we pay our bills on time to whoever,taxman etc. then the company is solvent even if that means KD 'loaning' the club more money to cover those tax bills etc.,in effect giving the club his own cash that he won't get back.

So basically the crap will hit the fan when KD says enough of putting his own money in,or alternatively he runs out of money.This is the same situation HTFC had with that Rubery fellah.

7M shareholder funds owed in 2010,no doubt up to 8M in 2011.

Or am I wrong on all of this?
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BO JANGLES
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PostSubject: Re: HGRLFC Balance Sheet   Tue Jul 03, 2012 2:01 pm

defleppard wrote:
Would I be right in thinking that the -7.195.000 shareholders funds,is money that the directors (mostly KD no doubt) have lent the club.
If it is,then in the event of KD wanting to pull out and sell the club,this is money he would have to write off,as no one would be willing to pay that back to him and at the same time take on a company of net worth -7,325,000.

So it seems to me that,as long as we pay our bills on time to whoever,taxman etc. then the company is solvent even if that means KD 'loaning' the club more money to cover those tax bills etc.,in effect giving the club his own cash that he won't get back.

So basically the crap will hit the fan when KD says enough of putting his own money in,or alternatively he runs out of money.This is the same situation HTFC had with that Rubery fellah.

7M shareholder funds owed in 2010,no doubt up to 8M in 2011.

Or am I wrong on all of this?

I think it will be a bit more complicated than that DL, There is no doubt K Davy will have put a lot of his own money in, but i would be amazed if it was anything remotely like that amount, I feel Certain the vast majority will be loans and such from various sources, He may well be Guaranteeing the loans one way or another, But just about every Rugby league club is in that position, the one's with assets or good enough turnover to service the depts are fine they just carry on, the one's who carn't find or borrow the cash to pay the bills like Bradford ( at the moment ) go to the wall " simples "

This is just my take, and I'm sure it will be even more complicated than that, but the bottom line as Matt has said is, that without K Davy we would sink without trace. We have been in that position more than once before now, In fact if you ever find yourself having a drink with PG sometime, get him to tell you the lengths some people he knows personally have gone to to scrape Fartown through, Think you be a bit surprised.
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matt01
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PostSubject: Re: HGRLFC Balance Sheet   Tue Jul 03, 2012 6:35 pm

P & L should look better than that. We've had extra revenue from cup semis and finals, play-off matches yet we make massive loses each year. I wonder what the breakdown of expenditure actually is? How much is player wages, how much is rent for the stadium, back room staff, marketing etc...

This season should be a bit more healthy, with another cup run and the transfer fee for Kevin too.
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ponner
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PostSubject: Re: HGRLFC Balance Sheet   Tue Jul 03, 2012 7:48 pm

matt01 wrote:
P & L should look better than that. We've had extra revenue from cup semis and finals, play-off matches yet we make massive loses each year. I wonder what the breakdown of expenditure actually is? How much is player wages, how much is rent for the stadium, back room staff, marketing etc...

This season should be a bit more healthy, with another cup run and the transfer fee for Kevin too.
But what about the cheap season tickets?

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matt01
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PostSubject: Re: HGRLFC Balance Sheet   Wed Jul 04, 2012 6:03 pm

ponner wrote:
matt01 wrote:
P & L should look better than that. We've had extra revenue from cup semis and finals, play-off matches yet we make massive loses each year. I wonder what the breakdown of expenditure actually is? How much is player wages, how much is rent for the stadium, back room staff, marketing etc...

This season should be a bit more healthy, with another cup run and the transfer fee for Kevin too.
But what about the cheap season tickets?
but we do some sort of deal most seasons and we did sell record numbers and will the increased support have helped merchandise sales especially with the original away strip
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defleppard
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PostSubject: Re: HGRLFC Balance Sheet   Fri Jul 06, 2012 2:27 pm

From what I have since read on the web -

Shareholders funds are not amounts of their own cash our directors/chairman have invested into the club.This is in fact the pot shareholders could expect returned from a successful company.

Share capital and reserves 1,513M - This apparently is the money permanently invested by our directors/chairman into the company (not loaned) in return for shares in said company.

P&L Account Reserve - 8,708M is the money made (or in our case lost) through the trading of the company.


So I suppose it's a case of does losing 8.8M in total or approx 1M per year constitute 'maintaining a reasonable and sustainable level of company debt' of which these cyberspace financial gurus talk of.

No doubt that sort of figure needs to come down,and the club eventually break even.How long that will take who knows.We have a 20% share in the stadium co. KSDL but that will not return any profit in the near future,maybe another 10 years (at as it's still paying off it's debts)

Would never disrespect anyone who ran the club previous to KD,and their efforts to keep it solvent,however with KD at the helm have we ever had a benefactor with so much personal wealth willing to bankroll our club,cover any losses or unforeseen financial problems,basically keeping the wolf from the door year on year,for about 16 seasons.




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matt01
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PostSubject: Re: HGRLFC Balance Sheet   Sat Jul 07, 2012 8:42 am

I am sure I read somewhere that the club wanted to become less dependent on KD's money. It doesn't seem like the club are managing that unless numbers are much better this season.
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