Accounts

[red]

4 hours ago, Sooks said:

 

Why would you want us to have two million taxable profit sitting in our account though ? I would far rather we only ever turned over a small profit but saw our turnover continue to rise . What use is two million sitting in the bank that could have been spent on either players or invested in something else which would increase our turnover 

it's not sitting in our account though and the playing squad hasn't improved neither has the waiting list much - Thats the point.

 

it 'looks' to me like it's been spent on average players wages mainly. 

 

You're absolutely right about £2m taxable IF the £2m was spent wisely which it clearly hasn't in the most important area - the pitch

 

and that is my point. 

[red]

59 minutes ago, jambo89 said:

I assume you don't think Shankland, Rowles, Oda, Zander clark weren't improvements on Gnanduilet, Taylor-Moore, Jordan Roberts and Ross Stewart then?

Love how you forgot the rest.......

Edited November 15, 2023 by red

[EIEIO]

4 minutes ago, red said:

were these guys signed in the last financial year? 

Not sure about Rowles but the rest were signed after 30 June 2022 so in the last financial year.

[Bazzas right boot]

8 minutes ago, red said:

it's not sitting in our account though and the playing squad hasn't improved neither has the waiting list much - Thats the point.

 

it 'looks' to me like it's been spent on average players wages mainly. 

 

You're absolutely right about £2m taxable IF the £2m was spent wisely which it clearly hasn't in the most important area - the pitch

 

and that is my point. 

 

How do you know the playing squad hasn't improved much, the season hasn't finished yet?

 

 

[Shooter McGavin]

Has i8 been on yet to tell us that after tax, we’ve actually made a loss of a billion squillion quid?

[red]

Just now, Bazzas right boot said:

 

How do you know the playing squad hasn't improved much, the season hasn't finished yet?

 

 

Last season and this season we have went backwards despite huge 'record breaking' revenue flooding into the company from various sources. 

 

When the hotel goes live that will be more money for Savage or someone to piss against a wall. 

 

We should be miles in-front of the rest by now.

 

[chrisyboy7]

2 minutes ago, red said:

Last season and this season we have went backwards despite huge 'record breaking' revenue flooding into the company from various sources. 

 

When the hotel goes live that will be more money for Savage or someone to piss against a wall. 

 

We should be miles in-front of the rest by now.

 

I'm not happy too m8 but let's see how this season goes....all we need to do is finish 3rd and perhaps make some money on transfers. 

[Nerja Jambo]

Thankfully I know nothing about accountancy so I've not attempted to understand them, but what is our accumulative credit/debit including these accounts. How much money do we have in the bank after these accounts. 

[AndyNic]

The fact we're talking about 20 MILLION ******* QUID is unbelievable. 

[Sooks]

55 minutes ago, soonbe110 said:

Think they have largely given up on their original new stadium plans.  They now want the Council to build them a new community stadium at the beach. 

Do not see that happening either , not with the council up there and the current financial climate . Although we are supposed to be ramping up oil drilling so you never know I suppose 

[I.T.K]

2 hours ago, Pasquale for King said:

He is, unscrupulous Hibbys love making a fortune of us Jambos. 

 

 

Like our accounts... Kev is a good one. 

[Sooks]

42 minutes ago, red said:

it's not sitting in our account though and the playing squad hasn't improved neither has the waiting list much - Thats the point.

 

it 'looks' to me like it's been spent on average players wages mainly. 

 

You're absolutely right about £2m taxable IF the £2m was spent wisely which it clearly hasn't in the most important area - the pitch

 

and that is my point. 

That was not your point at all . Your point was that we should have a bigger profit sitting there after all the income and out goings

 

Also I think we have a very good squad and one that is better than last season 

[Sooks]

3 minutes ago, I.T.K said:

 

 

Like our accounts... Kev is a good one. 

Yes he is . The point was about people getting indignant o we Hearts supporters lining the pockets of Hibs supporters . It is bound to happen in both directions very frequently 

[Dazo]

47 minutes ago, red said:

it's not sitting in our account though and the playing squad hasn't improved neither has the waiting list much - Thats the point.

 

it 'looks' to me like it's been spent on average players wages mainly. 

 

You're absolutely right about £2m taxable IF the £2m was spent wisely which it clearly hasn't in the most important area - the pitch

 

and that is my point. 

You’re having a nightmare. 😂

[JamboAl]

44 minutes ago, red said:

it's not sitting in our account though and the playing squad hasn't improved neither has the waiting list much - Thats the point.

 

it 'looks' to me like it's been spent on average players wages mainly. 

 

You're absolutely right about £2m taxable IF the £2m was spent wisely which it clearly hasn't in the most important area - the pitch

 

and that is my point. 

Unfortunately we do not know whether money has been spent wisely until we've spent it and the risk is greater when you're shopping in the bargain basement with little money.

We have signed many players with good CVs like Damour and Whelan, both of whom played in the top 2 divisions down south, prolific scorers like Sutton and Wyness, the Bosnian bullet and many others.

Do you have a formula to ensure we spend wisely on players?

[Selkirkhmfc1874]

Credit where credits due ! That's very good set of financial results and all the off field stuff in put in place for the longer term , what we need now is to see the same level of ambition being transferred to the playing side once the hotel is finished 

[Ex member of the SaS]

3 hours ago, Carter said:

It does illustrate how costly our collapse was last season though. Another season of Conference League income and thus depriving an immediate rival of that windfall cannot be understated. 

 

We absolutely must finish third this season. 

Said as much at the end of last season, Euro cash and the bigger pot from TV and league thrown away. Worse still gifted to Aberdeen. We really do need to secure third for more than two or three seasons in a row. 

[Ex member of the SaS]

24 minutes ago, JamboAl said:

Unfortunately we do not know whether money has been spent wisely until we've spent it and the risk is greater when you're shopping in the bargain basement with little money.

We have signed many players with good CVs like Damour and Whelan, both of whom played in the top 2 divisions down south, prolific scorers like Sutton and Wyness, the Bosnian bullet and many others.

Do you have a formula to ensure we spend wisely on players?

Yes , first off get a decent manger, one who can pick a player and motivate them to play at the top of their game even against the bottom clubs.

[Lone Striker]

11 hours ago, Luckies1874 said:

Can dress it up however you like but these figures mean we are announcing turnover which is more than the likes of Motherwell, St Mirren, Kilmarnock and Livingston's combined. Since mid January the first 3 of those clubs have won more points in the League than us! We must do far better results wise against the 'rest' than we have been. Plaudits are merited for some of the off field infrastructure projects but none are deserved for the truly mediocre performance on it, and by the football department in general. 

You do realise that financial turnover comparison between Hearts and other clubs who aren't engaged in major infrastructure  projects is an irrelevant indicator  of how football matches play out ?

 

The bit in bold, I totally agree with though.  😀

 

 

[Bull's-eye]

22 minutes ago, Selkirkhmfc1874 said:

Credit where credits due ! That's very good set of financial results and all the off field stuff in put in place for the longer term , what we need now is to see the same level of ambition being transferred to the playing side once the hotel is finished 

 

😆😆😆😆😆😆😆😆😆😆

 

A good set of financial results coming from the very people you wanted sacked only a matter of weeks ago.

 

What a slaver you are  😆😆😆😆

[hughesie27]

How much was invested in the Women's team or do the accounts not address that specifically?

[Lone Striker]

2 hours ago, TheBigO said:

All the chat of the benefactor money.  There are very few teams in Scotland not propped up by indivduals or groups just putting money in with little or no chance of return.  It's an issue.  Its unsustainable.

 

Our model isn't that.  We have people improving the infrastructure of our club as they believe it to be of value and benefit to the community.  We benefit from that.  And it's not for our day to day operations like it is with quite a number of other team.

 

Let's also remember we don't have a booze company or betting firm paying us to be on our strips, so a big chunk of the philanthropy is actually essentially to allow advertising for charity on our strips.  That's replacement income we'd be making elsewhere if we didn't have this setup.  What would we expect our main sponsors to pay us each year?

 

We're self sustaining.  But we're also building - and it's the building which is getting the phree munny.  We're in an extremely strong position.

 

I'm nae accountant and in truth the accounts and all the amateur finance director stuff in football bores the shit out of me.  But I do take a bit of interest in seeing our club being built to look to break through its glass ceiling, which is what I truly believe we're doing.

 

As I and many others have said, so much of it needs to come back to the pitch.  Not the benefactor money being used on wages, not as directly as that.  I just mean the entire "brand" needs the football to be working.

Great post.   Just... a great post.  

[Carter]

23 minutes ago, Ex member of the SaS said:

Said as much at the end of last season, Euro cash and the bigger pot from TV and league thrown away. Worse still gifted to Aberdeen. We really do need to secure third for more than two or three seasons in a row. 

That's the only way we'll make meaningful incremental improvements. That and player trading. 

 

Some stuff on here suggests anyone who is critical of the performance of the club thinks it means we should somehow be challenging the uglies when its patently obvious the rational outlook is we should be starting to create a bit of a gap between us and the rest. That's got to be the shorter term objective. Sadly we had a manager that was given resources that should've consolidated back to back European group stage football but the task was beyond him and he's now away to manage at his level. 

[Sub4TiddlerMurray]

1 hour ago, Bazzas right boot said:

 

Tbf he does  think the results  are "greeeaaaaaatttt!"

 

 

 

[Luckies1874]

23 minutes ago, Lone Striker said:

You do realise that financial turnover comparison between Hearts and other clubs who aren't engaged in major infrastructure  projects is an irrelevant indicator  of how football matches play out ?

 

The bit in bold, I totally agree with though.  😀

 

 

Not sure how your point had anything to do with what I said!
The fact is that the 4 cubs I listed had a combined turnover of less than us yet 3 of them have outperformed us (at least by league points won), on the park, for the majority of 2023! My point was simply that we should be utilising that clear advantage over the likes of these teams far better than we are. There are those who won’t hear of us having an advantage over Hibs and Aberdeen but I think even they will struggle to defend our poor performance in relation to what these clubs are doing with their resources in comparison. 

[Sooks]

55 minutes ago, Selkirkhmfc1874 said:

Credit where credits due ! That's very good set of financial results and all the off field stuff in put in place for the longer term , what we need now is to see the same level of ambition being transferred to the playing side once the hotel is finished 

We use a percentage of turnover for playing staff . It is exactly things like the hotel that will increase turnover . It is a case of give a man a fish he can feed himself for a day , but teach him to fish and he can feed himself for a lifetime . If Anderson started throwing money at the first team as one off payments it would soon drain even his resources . This way he is using his money to allow us to generate more money for ourselves 

[gordon simpson]

4 minutes ago, Sooks said:

We use a percentage of turnover for playing staff . It is exactly things like the hotel that will increase turnover . It is a case of give a man a fish he can feed himself for a day , but teach him to fish and he can feed himself for a lifetime . If Anderson started throwing money at the first team as one off payments it would soon drain even his resources . This way he is using his money to allow us to generate more money for ourselves 

good way to explain to the Luddites on here how a business run well can be  a great asset  

[Sooks]

6 minutes ago, gordon simpson said:

good way to explain to the Luddites on here how a business run well can be  a great asset  

I am no accountant or business mogul that is for sure . I just try and read and understand what the club says when it comes to strategy . It is really nice not to have to worry about going bust as well

 

Smarter people than me could explain it better and where I am getting details wrong , and that is fine 

 

I just wish people would stop listening to idiots who are trying to conflate good off field performances and increased turnover with poor on field performances . Not meaning @Selkirkhmfc1874 when I say that , but some others with their shite about curtains and pillows ect 

 

We need to keep doing the things we do well , and improve on the things that we are not doing well 

[Dusk_Till_Dawn]

5 minutes ago, Sooks said:

I am no accountant or business mogul that is for sure . I just try and read and understand what the club says when it comes to strategy . It is really nice not to have to worry about going bust as well

 

Smarter people than me could explain it better and where I am getting details wrong , and that is fine 

 

I just wish people would stop listening to idiots who are trying to conflate good off field performances and increased turnover with poor on field performances . Not meaning @Selkirkhmfc1874 when I say that , but some others with their shite about curtains and pillows ect 

 

We need to keep doing the things we do well , and improve on the things that we are not doing well 

On the hotel front, and I’m asking this in good faith, what are the projections for it?

 

By that I mean:

 

How much will it cost?

How is it being funded?

When will it start turning a profit?

How much will it earn the club annually?

 

I genuinely don’t know and I suppose the answers are key in knowing if it’s a worthwhile project.

[Sooks]

Just now, Dusk_Till_Dawn said:

On the hotel front, and I’m asking this in good faith, what are the projections for it?

 

By that I mean:

 

How much will it cost?

How is it being funded?

When will it start turning a profit?

How much will it earn the club annually?

 

I genuinely don’t know and I suppose the answers are key in knowing if it’s a worthwhile project.

I do not work for the club mate , so you would need to find those answers elsewhere

 

Do you disagree with what I said in the post of mine that you quoted 

[Selkirkhmfc1874]

27 minutes ago, Sooks said:

We use a percentage of turnover for playing staff . It is exactly things like the hotel that will increase turnover . It is a case of give a man a fish he can feed himself for a day , but teach him to fish and he can feed himself for a lifetime . If Anderson started throwing money at the first team as one off payments it would soon drain even his resources . This way he is using his money to allow us to generate more money for ourselves 

100% agree

[Sooks]

1 minute ago, Selkirkhmfc1874 said:

100% agree

Thought you might . Others would rather slice open the goose that lays the golden eggs in case it is made of gold inside 

[Dusk_Till_Dawn]

2 minutes ago, Sooks said:

I do not work for the club mate , so you would need to find those answers elsewhere

 

Do you disagree with what I said in the post of mine that you quoted 

On a basic level no, but the sense of the hotel does depend on what it actually returns, if that makes sense.

[Dazo]

5 minutes ago, Dusk_Till_Dawn said:

On a basic level no, but the sense of the hotel does depend on what it actually returns, if that makes sense.

Like everything else Dusk, it’s great if we make money from it. Time will tell but if you can’t make money from a decent hotel in Edinburgh then you must be doing something really wrong. 

[Vlad Magic]

Now if the board was made up solely of football minded people and we were creating a hotel I would be worried.

 

However.

 

 

[Agentjambo]

Just now, Vlad Magic said:

Now if the board was made up solely of football minded people and we were creating a hotel I would be worried.

 

However.

 

 

If the board was made up solely of business minded people and we were creating a successful football team I’d be worried 

 

However……hmmm.

[HopeDiouf]

Elephant in the room is the stadium size.  The main blocker to future growth.

Hotel/Bar/Hospitality all great ways to squeeze a bit more out of what we have.  But stadium size is the blocker to real growth.  I'm sure they know this.

[Sooks]

12 minutes ago, Dusk_Till_Dawn said:

On a basic level no, but the sense of the hotel does depend on what it actually returns, if that makes sense.

A 20 odd bedder a 20 minute walk from the West End proper ? I am going to take an absolutely wild stab in the dark and say that it will turn a profit mate  

[Sooks]

5 minutes ago, Vlad Magic said:

Now if the board was made up solely of football minded people and we were creating a hotel I would be worried.

 

However.

 

 

Correct

 

3 minutes ago, Agentjambo said:

If the board was made up solely of business minded people and we were creating a successful football team I’d be worried 

 

However……hmmm.

What would this alternate dimension football team be doing in order to fund the players necessary for a successful football team

[awadooningorgie2]

14 minutes ago, Dusk_Till_Dawn said:

On a basic level no, but the sense of the hotel does depend on what it actually returns, if that makes sense.

At the time it was announced the club stated it appeared to be the best option from all possibilities explored how to use the second floor. That's good enough for me.

 

Player recruitment on the other hand is a concern in my book - having said that the age profile of a lot of new recruits is very young. Hopefully in 12 months we will all be delighted having raked in millions on that front. I am not convinced.

[Vlad Magic]

15 minutes ago, Agentjambo said:

If the board was made up solely of business minded people and we were creating a successful football team I’d be worried 

 

However……hmmm.

That’s why we employ coaches and management. 
 

We don’t however need to spend money on hiring people to tell us how to develop our available space into a profit making hotel.

[HopeDiouf]

2 minutes ago, Vlad Magic said:

That’s why we employ coaches and management. 
 

We don’t however need to spend money on hiring people to tell us how to develop our available space into a profit making hotel.

Feel free to correct me, but did we not hire people to do exactly this?  Surely James and Anne ain't building the hotel themselves?

[Boris5115]

Nearly 4 pages on flump.net re our accounts so if anyone wants the truth just head over to the experts thread. Let's see what their accounts bring when released. Max 12 million turnover with loans galore from the Gordon's to cover the new pitch/lights and refurbishment of suites. Bring them on. 

[Sooks]

1 minute ago, HopeDiouf said:

Feel free to correct me, but did we not hire people to do exactly this?  Surely James and Anne ain't building the hotel themselves?

 

Is this a serious reply

[Vlad Magic]

4 minutes ago, HopeDiouf said:

Feel free to correct me, but did we not hire people to do exactly this?  Surely James and Anne ain't building the hotel themselves?

On a permanent basis? News to me?

[HopeDiouf]

1 minute ago, Sooks said:

 

Is this a serious reply

well I'm fairly sure I know the answer.  Also fairly sure we will have brought people in with expertise for building/running the hotel.

[gordon simpson]

49 minutes ago, Sooks said:

I am no accountant or business mogul that is for sure . I just try and read and understand what the club says when it comes to strategy . It is really nice not to have to worry about going bust as well

 

Smarter people than me could explain it better and where I am getting details wrong , and that is fine 

 

I just wish people would stop listening to idiots who are trying to conflate good off field performances and increased turnover with poor on field performances . Not meaning @Selkirkhmfc1874 when I say that , but some others with their shite about curtains and pillows ect 

 

We need to keep doing the things we do well , and improve on the things that we are not doing well 

Fergus McCann got the same shite from the head bangers at parkhead ,wonder if they would like to swap with the nutters at Ibrox now ?

[HopeDiouf]

1 minute ago, Vlad Magic said:

On a permanent basis? News to me?

Well we've got someone in temporarily to build it right?

And I presume we'll be hiring someone to run it?

[JamboAl]

1 hour ago, Ex member of the SaS said:

Yes , first off get a decent manger, one who can pick a player and motivate them to play at the top of their game even against the bottom clubs.

Within our means, do you have a couple of names off the top of your head who can do that?

Even the great Sir A F signed a star like Proborsky (sp) and he was a dismal failure and not the only one.

[Francis Albert]

Does anyone know whether the Skyline restaurant makes money? Will we ever know if the hotel does? Or the meeting rooms/suites?