Accounts

[Agentjambo]

https://x.com/jamtarts/status/1724474602766602351?s=46&t=kRQjNjxU_VyBM6M0-nXTkA

[rocketman19]

Brilliant set of financial results 

[Agentjambo]

Should be uping the transfer budget 

[Bill Sikes]

Sack the board.

[Back to 2005]

What’s was the profit/loss? Can only see the headline turnover figure?

[scottg71]

Superb set of accounts. 

[Hømme]

Unbelievable turnover with a hotel on the way. 

 

I'll let others dig deeper as most of it goes above my head.

[lou]

Just now, scottg71 said:

Superb set of accounts. 

Not sure I agree, the profit is down by over a million on last year and the high turnover figure was due to the group stages of European football, which means next year's published accounts could be bleak reading 

[superjack]

I'll wait until the experts on .nut have gone over everything.

[chrisyboy7]

Just now, lou said:

Not sure I agree, the profit is down by over a million on last year and the high turnover figure was due to the group stages of European football, which means next year's published accounts could be bleak reading 

Player sales can change this instantly....watch this space 

[Bender]

3 minutes ago, Back to 2005 said:

What’s was the profit/loss? Can only see the headline turnover figure?

 

Looks to me like roughly £300,000 profit. A drop from £1.7m the year before.

[kingantti1874]

No benefactor donations this year.  Good that we were able to fund all of the one off infra costs 

Edited November 14, 2023 by kingantti1874

[loveofthegame]

1 minute ago, lou said:

Not sure I agree, the profit is down by over a million on last year and the high turnover figure was due to the group stages of European football, which means next year's published accounts could be bleak reading 

 

£4.5m donation from Jimmy too. No expert but if I'm reading correctly, European group stages plus £4.5m benefactor donation to turn a £300k profit?! Is that really correct?!

[rocketman19]

1 minute ago, lou said:

Not sure I agree, the profit is down by over a million on last year and the high turnover figure was due to the group stages of European football, which means next year's published accounts could be bleak reading 

We won't have made as much from European football obviously but this season we didn't have to spend money on the stadium to make it compliant for European football

[Darren]

1 minute ago, loveofthegame said:

 

£4.5m donation from Jimmy too. No expert but if I'm reading correctly, European group stages plus £4.5m benefactor donation to turn a £300k profit?! Is that really correct?!

Looks like it.

A pretty worrying set of results.

[lou]

1 minute ago, loveofthegame said:

 

£4.5m donation from Jimmy too. No expert but if I'm reading correctly, European group stages plus £4.5m benefactor donation to turn a £300k profit?! Is that really correct?!

Looks like it, alarming reading, and we can't even say we have invested in the playing squad 

[Ivan Drago]

Still relying on benefactor donations

[johnking123]

Plus we have spent money on a hotel 

[Bill Sikes]

2 minutes ago, lou said:

Not sure I agree, the profit is down by over a million on last year and the high turnover figure was due to the group stages of European football, which means next year's published accounts could be bleak reading 

 

Rubbish, we're a Supporter owned football club, as long as there isnt a loss then its being run just fine.

 

The profit gets ploughed back into the club so should never show as being massive.

[Ivan Drago]

Just now, Bull's-eye said:

 

Rubbish, we're a Supporter owned football club, as long as there isnt a loss then its being run just fine.

 

The profit gets ploughed back into the club so should never show as being massive.

Take Anderson’s money away and we’re ****ed. With **** all to show for it.

[EH11 2NL]

Just now, Ivan Drago said:

Take Anderson’s money away and we’re ****ed. With **** all to show for it.

Surely, we'd simply no spend as much. We're hardly ****ed, we were ****ed 10 years ago. 

[Bender]

1 minute ago, Bull's-eye said:

 

Rubbish, we're a Supporter owned football club, as long as there isnt a loss then its being run just fine.

 

The profit gets ploughed back into the club so should never show as being massive.

 

A significant drop in profit after European group stage money doesn't make for great reading though, does it?

[D4nny_]

Just now, Ivan Drago said:

Take Anderson’s money away and we’re ****ed. With **** all to show for it.

Don’t think so. Would imagine we know in advance what is being benifacted so spend accordingly.

 

Loose that and the net spend will be less. Either way we’re very lucky to have him!

 

 

[lou]

2 minutes ago, Bull's-eye said:

 

Rubbish, we're a Supporter owned football club, as long as there isnt a loss then its being run just fine.

 

The profit gets ploughed back into the club so should never show as being massive.

What has any profit  been spent on? 

[Bill Sikes]

The goon squad are out in force.

 

If you go out on a Saturday night with £100 then have a great night and wake up with 40p left in your pocket.

 

Or you could tap another £100 of yer mum and go out with £200, same rules apply, have a better night but still wake up with 40p in your pocket.

 

Does that simplify it enough for everyone ?

[Bill Sikes]

3 minutes ago, Ivan Drago said:

Take Anderson’s money away and we’re ****ed. With **** all to show for it.

 

Complete rubbish.

[Bill Sikes]

1 minute ago, lou said:

What has any profit  been spent on? 

 

Jesus wept.

[Bender]

Just now, D4nny_ said:

Don’t think so. Would imagine we know in advance what is being benifacted so spend accordingly.

 

Loose that and the net spend will be less. Either way we’re very lucky to have him!

 

 

 

Lose that and we're cutting costs rather dramatically. By roughly 1/5th of the total turnover posted today. 

[Wee Mikey]

We need to eat more pies at £3.50 a pop.

[Hømme]

7 minutes ago, Ivan Drago said:

Still relying on benefactor donations

 

For capital expenditure I'd imagine. Not to cover day to day costs. 

 

[WASTREL]

10 minutes ago, lou said:

Not sure I agree, the profit is down by over a million on last year and the high turnover figure was due to the group stages of European football, which means next year's published accounts could be bleak reading 

Severance package for previous Coach plus Number 2 ... maybe?  

[rudi must stay]

We are a proper club these days 

[Footballfirst]

11 minutes ago, loveofthegame said:

 

£4.5m donation from Jimmy too. No expert but if I'm reading correctly, European group stages plus £4.5m benefactor donation to turn a £300k profit?! Is that really correct?!

Correct.

 

£1m paid towards AB's loan. Still £2.1m outstanding.

 

Seem to have made a fair bit of capital expenditure. £1.3m spent on plant and equipment and a further £1.1m on "assets under construction" (hotel?) 

Edited November 14, 2023 by Footballfirst

[jambostuart]

2 minutes ago, Bender said:

 

Lose that and we're cutting costs rather dramatically. By roughly 1/5th of the total turnover posted today. 

 

The idea of "its OK, we will just spend less" is a dangerous one. We're not exactly flying with the budget we have now...

[Bill Sikes]

3 minutes ago, Bender said:

 

A significant drop in profit after European group stage money doesn't make for great reading though, does it?

 

The club didn't qualify, that didnt make good viewing.

 

It didnt have the money so it didn't lose anything, contrary to the a lot of the hard of thinking on here.

 

We still made significant signings in the summer with a budget.

 

We work to a budget, its not rocket science.

[hughesie27]

8 minutes ago, Ivan Drago said:

Still relying on benefactor donations

Interesting choice of words. We don't rely on it. If we get it we spend it (and budget for it). If we don't then we wouldn't still need spend 4.5million as it wouldn't be in the budget to start with.

[lou]

2 minutes ago, Bull's-eye said:

 

Jesus wept.

Serious question, are you happy with the profit dropping by over a million with no significant spend on the playing staff and no progress made in the football department?  we are  first and foremost a football club and we should have been able to use the European money to consolidate 3rs place for next few years, we have instead ended up back battling it out with Hubs, Aberdeen and St Mirren

[Glamorgan Jambo]

£4 million of the £4.5 million in  benefactor donations came from a director (James Anderson)

 

The club still owed Ann Budge £2 million of her £3 million loan

 

Her 'Hibby brother's' firm was paid £367K over the year

 

Profit on player trading of £370K. Unless I've missed another sale that would be mostly the Hickey sell on

[Bender]

Just now, Bull's-eye said:

 

The club didn't qualify, that didnt make good viewing.

 

It didnt have the money so it didn't lose anything, contrary to the a lot of the hard of thinking on here.

 

We still made significant signings in the summer with a budget.

 

We work to a budget, its not rocket science.

 

Yes, we do. And I'm not looking at a £20m turnover thinking that's our transfer budget. I'm just concerned about the significant drop in profit compared to last year when we had the European money coming in. 

[Ivan Drago]

2 minutes ago, hughesie27 said:

Interesting choice of words. We don't rely on it. If we get it we spend it (and budget for it). If we don't then we wouldn't still need spend 4.5million as it wouldn't be in the budget to start with.

What are we spending the 4.5 million on?

[lou]

2 minutes ago, Bull's-eye said:

 

The club didn't qualify, that didnt make good viewing.

 

It didnt have the money so it didn't lose anything, contrary to the a lot of the hard of thinking on here.

 

We still made significant signings in the summer with a budget.

 

We work to a budget, its not rocket science.

Nobody said we lost anything, you seem to think we are all stupid to have expected more progress 

[hughesie27]

1 minute ago, Ivan Drago said:

What are we spending the 4.5 million on?

Hotel? Players wages? Who knows. Whether its being spent wisely or otherwise isn't my point. You said we RELY on benefactor donations and that's simply not true.

[Gorgie_Rules]

Another set of accounts, another year that the benefactors donations need explained.

 

Take James Anderson as an example, hes not some life long Hearts fan that is deciding to pump the club with cash to keep the club us afloat. He is using the club as a means to be charitable. The most obvious example of this is the MND sponsorship on the front of the strips. Without this we’d have commercial sponsor instead. 
 

Expenditure on the Women's team, innovation centre, links with big Hearts etc, all this would have less expenditure without the donations.

 

Of course indirectly some of this means it can be spent on the playing side, but any notion that the club is reliant upon benefactor (or FoH) donations to stay afloat is incorrect.

 

 

Edited November 14, 2023 by Gorgie_Rules

[Gizmo]

17 minutes ago, Darren said:

Looks like it.

A pretty worrying set of results.

 

17 minutes ago, lou said:

Looks like it, alarming reading, and we can't even say we have invested in the playing squad 

 

6 minutes ago, lou said:

Serious question, are you happy with the profit dropping by over a million with no significant spend on the playing staff and no progress made in the football department?  we are  first and foremost a football club and we should have been able to use the European money to consolidate 3rs place for next few years, we have instead ended up back battling it out with Hubs, Aberdeen and St Mirren

"...allowed us to substantially increase the investment in our playing budget"

"Overall staff costs (football and non-football) increased by £4.1m during the season,..."

🙄

[Carl Fredrickson]

1 minute ago, Gorgie_Rules said:

Another set of accounts, another year that the benefactors donations need explained.

 

Take James Anderson as an example, hes not some life long Hearts fan that is deciding to pump the club with cash to keep the club us afloat. He is using the club as a means to be charitable. The most obvious example of this is the MND sponsorship on the front of the strips. Without this we’d have a commercial sponsor instead. 
 

Expenditure on the Women's team, innovation centre, links with big Hearts etc, all this would have less expenditure without the donations.

 

Of course indirectly some of this means it can be spent on the playing side, but any notion that the club is reliant upon benefactor (or FoH) donations to stay afloat is incorrect.

 

Have you saved this from previous years and copy/pasted it? 

[Gizmo]

2 minutes ago, Gorgie_Rules said:

Another set of accounts, another year that the benefactors donations need explained.

 

Take James Anderson as an example, hes not some life long Hearts fan that is deciding to pump the club with cash to keep the club us afloat. He is using the club as a means to be charitable. The most obvious example of this is the MND sponsorship on the front of the strips. Without this we’d have commercial sponsor instead. 
 

Expenditure on the Women's team, innovation centre, links with big Hearts etc, all this would have less expenditure without the donations.

 

Of course indirectly some of this means it can be spent on the playing side, but any notion that the club is reliant upon benefactor (or FoH) donations to stay afloat is incorrect.

 

 

 

[rocketman19]

Is this the final set of accounts that will involve Mr Andersons donations? I'm pretty sure this is last year of the 5 years he committed to

[Penrices left boot]

4 minutes ago, Gorgie_Rules said:

Another set of accounts, another year that the benefactors donations need explained.

 

Take James Anderson as an example, hes not some life long Hearts fan that is deciding to pump the club with cash to keep the club us afloat. He is using the club as a means to be charitable. The most obvious example of this is the MND sponsorship on the front of the strips. Without this we’d have commercial sponsor instead. 
 

Expenditure on the Women's team, innovation centre, links with big Hearts etc, all this would have less expenditure without the donations.

 

Of course indirectly some of this means it can be spent on the playing side, but any notion that the club is reliant upon benefactor (or FoH) donations to stay afloat is incorrect.

 

 

 

It will need explained again next year.

 

Probably at least 50 times on this thread as well.

[lou]

1 minute ago, Gizmo said:

 

 

"...allowed us to substantially increase the investment in our playing budget"

"Overall staff costs (football and non-football) increased by £4.1m during the season,..."

🙄

We don't know how that is broken down for football and non football.  The figures don't alarm me, the lack of progress in the football dept does 

[Italian Lambretta]

I assume the increase in playing budget was for the Women's team.