Annual report and financials

[Bazzas right boot]

13 minutes ago, Fourcandles said:

 

Not the case, If as reported 3.25million was received from benefactors which resulted in a profit of 1.6 million then we are relying on it?

 

.

 

 

Aye, but we have built a new stand and pitch. 

 

They are one offs. 

 

[Fourcandles]

6 minutes ago, Notts1874 said:

Nope. We knew the money was coming in and have spent accordingly. We ain't relying on it. It was budgeted for. Just like it will be next year.

 

I stand corrected though what i meant was not that we are relying on it to exist but  ‘rely’ on it to maintain current spending.

.

[johnking123]

The same benefactors that have offered to help with our new management. If we want cash in January,  they will help.

[Bridge of Djoum]

Just now, MoncurMacdonaldMercer said:

 

footballfirst seems like a poster to be listened to on such matters (plenty past evidence of folk trusting his opinion)

 

have a wee re-read of some of his posts in this thread and compare them to the other 'experts' (hint - im not referring to the "titans of business " here)

 

 

 

 

 

 

 

 

Oh I know. I've been a fan of FF's stuff in the past and have openly sang his/hers praises. It's the regular life is Hell mob I refer to.

[Bazzas right boot]

17 minutes ago, Bridge of Djoum said:

And wants nothing in return.

 

 

 

 

Wumanz football team. 

 

 

[Fourcandles]

Just now, johnking123 said:

The same benefactors that have offered to help with our new management. If we want cash in January,  they will help.

 

I don't doubt this but may i politely ask how you know this?

 

.

[Bridge of Djoum]

Just now, Smith's right boot said:

 

 

Wumanz football team. 

 

 

Will the madness ever end...

[Bazzas right boot]

1 minute ago, johnking123 said:

The same benefactors that have offered to help with our new management. If we want cash in January,  they will help.

 

 

There was a poster on here who claimed they put more in than Ann Budge. 

 

Maybe he was correct. 

He was ridiculed as well. 

[Bridge of Djoum]

3 minutes ago, Fourcandles said:

 

I don't doubt this but may i politely ask how you know this?

 

.

I thought Mrs Budge had stated this recently.  I could be wrong.

 

The only thing I understand the benefactors had conditions on were relaxing the dress codes in hospitality and directors box. Mrs Budge confirmed recently they have no say in spending either amount or what it's spent on.

Edited November 15, 2019 by Bridge of Djoum

[Jambos1983]

1 minute ago, Bridge of Djoum said:

I thought Mrs Budge had stated this recently. 

She has. She said they'll support us financially to get the right manager in if we want it.

[john5698]

49 minutes ago, CJGJ said:

That would be the man who led us to a semi final and final …….money from which far exceeded his income

 

I get the point but you should also look at the full picture

Correct, it was obviously a bonus structure.

[80bob]

27 minutes ago, Cruyff Turn said:

Why? The benefactors are clearly loaded and must be Jambos. 

 

It’s like having the best of both worlds, fan ownership and a sugar daddy.

 

I’m no complaining. 🤷🏼‍♂️

Or sugar mummy...

[Bridge of Djoum]

1 minute ago, Jambos1983 said:

She has. She said they'll support us financially to get the right manager in if we want it.

Thing is, many on here refuse to believe her. 

[john5698]

56 minutes ago, Footballfirst said:

Only £1.32m last year. I suspect that contributions have fallen further since the year end.

the difference between £1.4m and £1.32m ain't 8.5%, it is less than 6%. I assume you know of more recent figures.

[80bob]

2 minutes ago, Jambos1983 said:

She has. She said they'll support us financially to get the right manager in if we want it.

Yes exactly hence why I can’t see some of the names on short odds in bookies actually being in the running.

 

 

[Jambos1983]

Just now, 80bob said:

Yes exactly hence why I can’t see some of the names on short odds in bookies actually being in the running.

 

 

Fingers crossed 

[Footballfirst]

1 minute ago, john5698 said:

the difference between £1.4m and £1.32m ain't 8.5%, it is less than 6%. I assume you know of more recent figures.

It was £1.44m the previous year (£120k a month), so contributions were down in the last financial year by 1/12  or 8.3333333% if you want to be picky.

[Bazzas right boot]

6 minutes ago, 80bob said:

Or sugar mummy...

 

Or sugar granny.... 

[Fourcandles]

1 minute ago, Footballfirst said:

It was £1.44m the previous year (£120k a month), so contributions were down in the last financial year by 1/12  or 8.3333333% if you want to be picky.

 

I take it you are and accountant FF....?

 

.

Edited November 15, 2019 by Fourcandles

[Ray Gin]

Shan Budge killing the club.

 

 

 

 

 

 

 

 

 

 

[john5698]

1 minute ago, Footballfirst said:

It was £1.44m the previous year (£120k a month), so contributions were down in the last financial year by 1/12  or 8.3333333% if you want to be picky.

Fair enough but not the figures you quoted initially.

[Beast Boy]

Folk wanting to have a go at the way the club is being run financially... staggering stuff. Only people who have not maintained or improved the amount of cash they were putting is are the fans. As is their right to do so, obviously.

[Coburg Hearts]

25 minutes ago, Notts1874 said:

Nope. We knew the money was coming in and have spent accordingly. We ain't relying on it. It was budgeted for. Just like it will be next year.

That this has to be explained is no great surprise, considering what the forum has been like recently. Without the benefactors we would obviously have cut our cloth accordingly. 

[Ray Gin]

30 minutes ago, ramrod said:

If I've read it correctly without the benefactors input we would have made a 400k loss and FOH contributions down 8.5% ? 

Even given the rise in turnover don't see the results as tremendous tbh . 

 

 

Impressive considering we've been utterly chronic for the past year and are still paying off, and indeed still working on, our main stand.

[Footballfirst]

Just now, john5698 said:

Fair enough but not the figures you quoted initially.

 

Fair comment, but it was a just a bit of quick mental arithmetic that I came up with 8.5%.

 

My guess is that the monthly contribution (averaging £110k in the last financial year) will have dropped below that level in the months following the year end.

 

I'm not overly concerned about the fall at this stage (FOH directors might be more concerned), as the transfer of ownership will not be delayed too much.

[Bauld]

If anyone is struggling to make sense of the figures Greenginger is hard at work on .net dissecting the reports. 

 

 

 

[john5698]

2 minutes ago, Footballfirst said:

 

Fair comment, but it was a just a bit of quick mental arithmetic that I came up with 8.5%.

 

My guess is that the monthly contribution (averaging £110k in the last financial year) will have dropped below that level in the months following the year end.

 

I'm not overly concerned about the fall at this stage (FOH directors might be more concerned), as the transfer of ownership will not be delayed too much.

Cheers for that, I would hope with an upturn on the park donations will pick up.

[john5698]

5 minutes ago, Coburg Hearts said:

That this has to be explained is no great surprise, considering what the forum has been like recently. Without the benefactors we would obviously have cut our cloth accordingly. 

Exactly.

[Coburg Hearts]

22 minutes ago, Smith's right boot said:

 

 

Wumanz football team. 

 

 

This should be a great help to the women's team, and perhaps stop those who complain about it coming out the men's players budget.

 

Hearts today announced a new three year extension to their deal with Umbro.

 

The overall deal, which is worth seven figures, has been supplemented by an additional six figure sponsorship of the

@heartswomenfc

team.

 

[Nookie Bear]

2 minutes ago, Coburg Hearts said:

This should be a great help to the women's team, and perhaps stop those who complain about it coming out the men's players budget.

 

Hearts today announced a new three year extension to their deal with Umbro.

 

The overall deal, which is worth seven figures, has been supplemented by an additional six figure sponsorship of the

@heartswomenfc

team.

 

👍🏻

[Stone1992]

42 minutes ago, ramrod said:

If I've read it correctly without the benefactors input we would have made a 400k loss and FOH contributions down 8.5% ? 

Even given the rise in turnover don't see the results as tremendous tbh . 

This doesn’t take into account of the additional amounts we would have spent cause we had the additional money from benefactors. We would have perhaps not spent as much if we didn’t have this so cost would have to be reduced as well meaning it may not have necessary mean we would have  made a loss

[Cruyff Turn]

24 minutes ago, 80bob said:

Or sugar mummy...

Indeed 👍🏼

[JamboAndrew]

4 minutes ago, Bauld said:

If anyone is struggling to make sense of the figures Greenginger is hard at work on .net dissecting the reports. 

 

 

 

 

I'll summarize his findings for all (and I haven't looked at Hibsnet)

 

We are either:

 

A-Cheaterz

B-Trying to hide immenent implosion

 

Ahhhhhhh. We are doomed.

[luckydug]

27 minutes ago, Fourcandles said:

 

I stand corrected though what i meant was not that we are relying on it to exist but  ‘rely’ on it to maintain current spending.

.

We are not going to be building a new stand every year or spending over a million pound on a pitch.

[Absolute Scenes]

1 hour ago, Coco said:

£3.25m from benefactors including £1m for player wages.  There is something not quite right with the club depending on this sort of income I fear.  Who is it from and what are they getting for it?  5 years ago this amount could have bought all the assets of the club.

 

£0.7m of short term funding from Bidco - suggests cash was tight.

 

Outside of donations roughly a £400k loss despite the big rise in turnover.

 

Presuming Levein is highest paid director - compensation rose to 178k from 141k - illustrates how it might not be easy to get a high earning manager

 

 

 

Aw shut up and just enjoy it man

[OTT]

I'm very confused about the benefactor. Why would they be so determined to remain anonymous ? Surely the adoration of the hearts fans for their considerable investment is a good thing? Only thing that could make me question why would be if there would be some perceived backlash against them for that. I.e if Edinburgh based would Hibs fans stop shopping with them? 

 

The M clue above, makes me wonder if its David Murray? Then again, it could be Mrs Budge  Can't think of anyone who could be interested in participating in funding the club with a first name starting with M. Surnames a plenty e.g. Jim Mellon... Apparently JK Rowlings partner's last name is Murray too. 

 

I just think the whole secrecy is really odd. Who gives money away no questions asked? Not many people have millions sitting around that they're quite happy to see spent by a Scottish football team. 

[Fourcandles]

2 minutes ago, Absolute Scenes said:

 

Aw shut up and just enjoy it man

 

Is it not better to simply answer and explain peoples questions and debate/answer civilly rather than tell them to “shut up”. ?

 

.

[1953]

1 hour ago, Natural Orders said:

Who are the benefactors?

 

doesn’t sit well with me relying on this 

I don't believe we depend on the benefactors, they give us money and we spend it, we don't go begging cap in hand to cover reckless spending imo.

[Absolute Scenes]

1 minute ago, Fourcandles said:

 

Is it not better to simply answer and explain peoples questions and debate/answer civilly rather than tell them to “shut up”. ?

 

.

We have hearts fans who pour big sums of money into us just because. Some posters will pick at any aspect to turn it negative so are rightly told to shut up

[Beast Boy]

5 minutes ago, Fourcandles said:

 

Is it not better to simply answer and explain peoples questions and debate/answer civilly rather than tell them to “shut up”. ?

 

.

Yes, but his paranoid rambling is not exactly getting the debate off to a good start is it? 🤷‍♂️

[luckydug]

3 minutes ago, Fourcandles said:

 

Is it not better to simply answer and explain peoples questions and debate/answer civilly rather than tell them to “shut up”. ?

 

.

I would normally agree with you BUT the poster he replied to is the sort of person who in the event of winning ten grand at the bookies would complain if the notes were dirty.

I have never known that poster to be anything other than negative even when things were going well.

[Beast Boy]

I suspect the benefactors were the other party who was keen to buy is out of admin, but stepped aside to let Budge do it. Just my suspicion though.

[Dusk_Till_Dawn]

1 hour ago, Icon of Symmetry said:

8.5% drop is a bit concerning right enough. Sad that people felt that way. Oh well, just have to try and boost that again. 

Take the piss out of people by backing a failing manager to an unreasonable degree and they withdraw their support. Arrogance to think anything else would happen.

[ramrod]

34 minutes ago, Ray Gin said:

 

 

Impressive considering we've been utterly chronic for the past year and are still paying off, and indeed still working on, our main stand.

True  tbf 

[Notts1874]

18 minutes ago, OTT said:

I'm very confused about the benefactor. Why would they be so determined to remain anonymous ? Surely the adoration of the hearts fans for their considerable investment is a good thing? Only thing that could make me question why would be if there would be some perceived backlash against them for that. I.e if Edinburgh based would Hibs fans stop shopping with them? 

 

The M clue above, makes me wonder if its David Murray? Then again, it could be Mrs Budge  Can't think of anyone who could be interested in participating in funding the club with a first name starting with M. Surnames a plenty e.g. Jim Mellon... Apparently JK Rowlings partner's last name is Murray too. 

 

I just think the whole secrecy is really odd. Who gives money away no questions asked? Not many people have millions sitting around that they're quite happy to see spent by a Scottish football team. 

Are you replying to my M clue?

[gorgie rd eh11]

29 minutes ago, Bauld said:

If anyone is struggling to make sense of the figures Greenginger is hard at work on .net dissecting the reports. 

 

 

 

 

 

 It'll not be long till we need our "debt free" club to clear our debts by coming to an agreement with the bank or selling our "debt free" club to a random American to clear our debts.

 

 

[McCrae]

Does this mean we sold our top goal scorer KL to Sevco for £500k? 

[Dia Liom]

Is it just me, or are the benefactors killing our club? OOT!!!

[Coburg Hearts]

12 minutes ago, Dusk_Till_Dawn said:

Take the piss out of people by backing a failing manager to an unreasonable degree and they withdraw their support. Arrogance to think anything else would happen.

Pledging to the Foundation of Hearts should have absolutely nothing to do with whether we have a good or bad manager. Not to me, at any rate.

[CJGJ]

2 minutes ago, Coburg Hearts said:

Pledging to the Foundation of Hearts should have absolutely nothing to do with whether we have a good or bad manager. Not to me, at any rate.

Agreed but to some of the children it seems they linked the two and who knows what they will do the next time...and there will be a next time no matter who gets the job