2020/21 accounts/AGM - shareholders presentation/Q&A announced ( updated )

[Kalamazoo Jambo]

58 minutes ago, Disco Dave said:

 

Looks like £4.2M from JA.  £500K from elsewhere

 

"During the year, the company received £4.2m (2020 - £3m) in donations from a director. This amount is included within the £4.7m (2020 - £3m) donations from benefactors within note 9."

7.2 million from James Anderson in 2 years. Incredible! I knew he was generous, didn’t quite realize the extent of that generosity.

Suggests some other benefactor/s came in with another half million too.

 

[Cruyff]

Minted.

 

 

[OTT]

54 minutes ago, EH11 2NL said:

Could be wrong but I thought Celtic got nothing the way Budge structured the deal. I thought it was a £1M loan, then sign as a free agent the year later when free 

 

If we did that Celtic would likely never do business with us again and might be vindictive in future dealings. Would put a question mark over the club in the value of our word in dealings with other clubs - i.e why would Partick for example, agree to sell us a player if they know fine and well we went out of our way to cut Celtic out for the sake of circa £400k. Celtic also would have ran straight to the papers and we'd still be hearing about big bad Hearts. 

 

So doubt this is true. 

[Radio Ga Ga]

I know it’s been said a thousand times, but we really do have the best supporters in the land and a BIG thank you from me to James Anderson and to Ann too for steering the ship through the rough waters that was the pandemic.

 

I really really believe we’re on the cusp of something very special…

[Unknown user]

Samie mate, I could do with a couple of grand of you're so inclined

[Jumper]

1 hour ago, Swanny17 said:

 

I’ve never really understood this sort of stuff and probably never will tbh. If there is a profit announced, does that mean the donation money or some of it is being saved for a rainy day type of scenario?

[hmfc_liam06]

So Mr Anderson effectively plugged the gap.

 

Incredible.

[Cruyff]

Hibs fans greetin that we get money from Mr Benny Factor and FoH otherwise we'd be running at a loss when they are bankrolled by some dodgy Peruvian.

 

 

[Longbaws]

Financial doping to the tune of £4.7million😎🇱🇻👍

 

https://www.google.com/amp/s/www.edinburghnews.scotsman.com/sport/football/hearts/hearts-announce-ps2m-profit-thanks-to-aaron-hickey-sale-plus-huge-benefactor-cash-injection-and-foh-money-3460203%3famp

[hereford_hearts]

I must dust down my hobbos.net login and make some comments!

[Footballfirst]

The loans position is pretty well unchanged since 2020.

 

£3.1m still outstanding in loans to AB.

 

The original £2.4m Bidco loan is still on the books, as the transfer of the major shareholding didn't happen until after year end (30 Aug), at which point the full loan will be deemed as repaid..

[stuart500]

Did Ann Budge not previously confirm the benefactors had promised support for 5 years? Can't remember when she said that but we could be benefitting for at least another 3 years.

 

A huge thank you from me for this and let's hope we can build a club and teams worthy of our glorious name for generations to come.

[kingantti1874]

We have unreal support seeing us through existential crisis.  Every other club in scotland has come out owing money.  Good stuff 

[GYL]

32 minutes ago, Tom Hardy’s Dug said:

We have more than one benefactor, no?

Yes....yes we do👍

[Ray Gin]

Turnover only dropping by 30% last year is pretty impressive, considering!

[maroon66]

[Cade]

[maroon66]

[benny]

hibsnet is going to be spewing.

[The Mighty Thor]

Poppy thievery is clearly very lucrative. 

 

[manaliveits105]

Did we renege on any tax payer owned bank loans ?

[Drew Wallace]

And not a £3million pound  Government  loan in sight

 

 

[Geoff Kilpatrick]

33 minutes ago, maroon66 said:

 

What's that saying? Rent free?

[martoon]

27 minutes ago, benny said:

hibsnet is going to be spewing.

 

Exactly what I was going to post. I haven't looked, yet, but the bile will out.

 

Guaranteed.

 

To any Hibby reading this:

 

GFY.

[Guest]

Hibs fans moaning about benefactors have a cheek, considering Uncle Tom Farmer pulled them out, and kept them out the shite for years. 

[jamboinglasgow]

For benefactors (most of J Anderson) put forward so much money to cover a season which could have been very bad for us for lost revenue (double whammy of being in the Championship and covid causing no fans in stands) is just incredible. As others to say, that he has put in over £7m towards us in last few seasons (plus the money he gave to SPFL foundation which was about £3m wasn't it) so over £10m shows how wealthy he is and how he wants to help out.

 

Good to see AGM back in public. I do find some interesting things come out of these and the questions asked. Also fascinated to see some of things they are planning outwith the first team (like how a few years back they announced investment in Women's team, the Hearts Global Youth Partnership (still want to know what happened to that) and the Hearts Invitational  Tournament.)

[the general]

If we are still up there in January .....

[Getintaethem]

Looks like it cost us around £650k to challenge our demotion in the SFA Kangaroo court.

[Lone Striker]

Another thing we can be extremely proud of - and the rest of Scottish football should be ashamed of - is that  after 7 years we're STILL THE ONLY only senior club signed up to the Living Wage.  As such, we've implemented the recent increase.   

 

Just think on that - Celtic, Rangers, Hibs, Aberdeen etc   must have reasons for NOT becoming Living Wage accredited employers.   Shameful.

[S Form]

4 minutes ago, Lone Striker said:

Another thing we can be extremely proud of - and the rest of Scottish football should be ashamed of - is that  after 7 years we're STILL THE ONLY only senior club signed up to the Living Wage.  As such, we've implemented the recent increase.   

 

Just think on that - Celtic, Rangers, Hibs, Aberdeen etc   must have reasons for NOT becoming Living Wage accredited employers.   Shameful.

Hear, hear. Shameful that none of the others have done this.

[EIEIO]

8 minutes ago, Getintaethem said:

Looks like it cost us around £650k to challenge our demotion in the SFA Kangaroo court.

Yep was in last year's accounts if I remember correctly.

[GinRummy]

18 minutes ago, Jonkel Hoon said:

Hibs fans moaning about benefactors have a cheek, considering Uncle Tom Farmer pulled them out, and kept them out the shite for years. 

There’s an underlying acceptance that this is the start of another few decades of us totally dominating them. The Echodome will be even emptier soon 

[Guest]

1 minute ago, GinRummy said:

There’s an underlying acceptance that this is the start of another few decades of us totally dominating them. The Echodome will be even emptier soon 

That's a good point. For years we've exerted dominance over them even when we've had hard times ourselves. They may have had a  wee purple patch (by their standards) in the last few years, but it will be good to get back to constantly showing them whose boss. Not just on tbe park, but off it too. 

[AlphonseCapone]

Can I ask a daft question and not be called a hobo, thanks. Are we operating at a loss without James Anderson or is it more a case that last year was an expectional year due to Covid and in general we'd expect to turn a profit without benefactor addition? 

[GinRummy]

6 minutes ago, AlphonseCapone said:

Can I ask a daft question and not be called a hobo, thanks. Are we operating at a loss without James Anderson or is it more a case that last year was an expectional year due to Covid and in general we'd expect to turn a profit without benefactor addition? 

Without benefactors cash we’d have operated at a loss last year. In normal years, it’s not as simple as that though. The benefactors aren’t gifting us money to stick in the bank. They’re gifting is money to spend and build the club. If, for example, we get gifted 3 million quid one year and make an additional 500k profit, so total profit is 3.5 million, then it’s a waste of time the benfactors gifting us cash imo.  I doubt they’re giving us it just to see it sit in the bank. 

Edited November 16, 2021 by GinRummy

[RobNox]

2 hours ago, hughesie27 said:

Would the 500k for being in Championship from Gov be the missing money?

Yes, the £500k balance relates to the government grant.

[Bull's-eye]

6 minutes ago, AlphonseCapone said:

Can I ask a daft question and not be called a hobo, thanks. Are we operating at a loss without James Anderson or is it more a case that last year was an expectional year due to Covid and in general we'd expect to turn a profit without benefactor addition? 

 

It's a daft question.

 

We don't spend money we don't have.

So, no, we're not operating at a loss.

[loveofthegame]

5 minutes ago, AlphonseCapone said:

Can I ask a daft question and not be called a hobo, thanks. Are we operating at a loss without James Anderson or is it more a case that last year was an expectional year due to Covid and in general we'd expect to turn a profit without benefactor addition? 

Well turnover was down £4.6m due to Covid, and he looks like he put in £4.7m so he has effectively plugged that gap. So yes in effect we’d have had a significant loss without his input, but then if your auntie had baws…

 

We are very lucky to have him and the FOH.

[kingantti1874]

2 minutes ago, loveofthegame said:

Well turnover was down £4.6m due to Covid, and he looks like he put in £4.7m so he has effectively plugged that gap. So yes in effect we’d have had a significant loss without his input, but then if your auntie had baws…

 

We are very lucky to have him and the FOH.

and every other club in scotland realised that loss. 
 

hopefully someone replied to that dumb SNP fud on Twitter 

[RobNox]

1 hour ago, Footballfirst said:

The loans position is pretty well unchanged since 2020.

 

£3.1m still outstanding in loans to AB.

 

The original £2.4m Bidco loan is still on the books, as the transfer of the major shareholding didn't happen until after year end (30 Aug), at which point the full loan will be deemed as repaid..

Also worth noting that these loans have now been consolidated into a new loan with a 2 year repayment schedule commencing in Nov-22, so they are no longer included in the amounts falling due within 12 months.  FOH money in itself would be enough to repay these loans over that period, so no real cause for concern.

[Pasquale for King]

54 minutes ago, Jonkel Hoon said:

Hibs fans moaning about benefactors have a cheek, considering Uncle Tom Farmer pulled them out, and kept them out the shite for years. 

Don’t forget the debt forgiveness he negotiated with the bank to write off millions before he sold up. 

[RobNox]

2 hours ago, Jumper said:

I’ve never really understood this sort of stuff and probably never will tbh. If there is a profit announced, does that mean the donation money or some of it is being saved for a rainy day type of scenario?

According to the accounts, we had c £2.5m cash at bank and in hand as at 30th June.  Got to bear in mind that will include money from ST sales, so a lot of our match ticket revenue for the season has been received up front.

[RobNox]

1 minute ago, Pasquale for King said:

Don’t forget the debt forgiveness he negotiated with the bank to write off millions before he sold up. 

Yeah, what was it, something like 30p in the £ that the bank agreed to accept?

[Disco Dave]

2 hours ago, hughesie27 said:

Would the 500k for being in Championship from Gov be the missing money?

No, thats a separate item under exceptional items related to covid 19

[Disco Dave]

*double post

Edited November 16, 2021 by Disco Dave

[Tommy Brown]

3 hours ago, lost in space said:

Do the figures include the "gift" from the Scottish Government - given as we were in Championship (as apposed to the Prem League loans)?

 

[Pasquale for King]

23 minutes ago, RobNox said:

Yeah, what was it, something like 30p in the £ that the bank agreed to accept?

I’m not sure tbh but it was millions that written off. 

[ginger jambo98]

31 minutes ago, Pasquale for King said:

I’m not sure tbh but it was millions that written off. 

They owed LBG over £8m, a 30p in the £ deal would have meant a split of £2.5m to uncle Tommy and £5.5m of bad debt write off in the bank. Sounds about right from memory.

 

cheeturz etc etc

[lost in space]

39 minutes ago, Tommy Brown said:

 

Thanks - Gov Grant so much better than a loan.

[SUTOL]

Just now, lost in space said:

Thanks - Gov Grant so much better than a loan.

 

And it nearly covers the legal costs from last year.