I wonder have we been spending at the full cap level and if not this could be why the profit is there? Its a great position to be in though!

If I remember correctly, when we signed the new Sky deal last year all SL clubs were given an immediate £300k. So it depends how that cash was recognised in the accounts, but it could also be a reason why we are showing a larger profit.

Its also on the Club Website.

I'm not an accountant and haven't looked at the figures but figures can be used in many ways.
Key points for me are -

1. Have we reduced / removed our reliance on SJM Promotions.
2. How much short term debt do we have?
2. How much medium / long term debt do we have and are we reducing it? (Eg filling in the corners cost 'x', if that's repaid over 10 years at (say) £500k per year, so £500k is included in the accounts, but we've still £4.5m debt - not suggesting these are actual figures).

£4.5m debt?

No RD - my figures are hypothetical just to illustrate a point.

Phew

In the Q&A beneath the south stand the new media fella gave a very honest and open insight into the finances. I can't remember the exact figures but he said we are way behind what Leeds have to spend.

Tony gave his honest opinion on Matty Russell too.

I think I remember that filling in the corners cost approx £1 mill

Care to share with the group?

The only people who know what the figures actually mean are the directors/shareholder who were in the meetings that discussed them (and I am an accountant). Anything which is out in the public domain can only be an indicator

Our long term loans at the end of Nov 2013 were £1.92m, down from £2,088m in the previous year. Most of this (£1.34m) comprises bank loans. The loans are spread over a range of maturities, so for e.g., £776K had a maturity in excess of 5 years. The directors loan account (SJM I presume) was £185,300 although I think he is also helping us with another loan from one of his companies.

I can't remember the figures, but TS said that Matty's strength was gaining meters and his weakness was his positional/organising skills.

Pretty much what Wane said about him on local radio following the announcement we had signed him, very possibly why he was only playing reserve grade down under.

He said, season ticket sales were down, matchday sales were down and merchandise was down...

No surprise.
The investment was down and in tandem results were poorer.
Everything is relative
Success create interest, interest is a margin for growth.
Consistency keeps that margin of growth while further success creates interest.

Easy peazy.

How is investment doiwn?

Spend full salary cap.
Just paid biggest ever transfer fee.
Spend £1m plus on stadium improvements.
Built indoor training facility.
Biggest ever youth signing.
Academy rated outstanding for first time with acknowledgement of investment to achieve that.
Biggest ever annual expenditure exlcluding capital investments.
New directors on board.
New Chief Executive recruited with impressive CV from the top of other sports.

You really do spout absolute un-founded rubbish as fact a lot of the time.

Are you sure we are spending the full salary cap, or is that just a guess. We had Woody leave just before the season started for instance.

"the investment" being on the pitch about a full salary cap spend, hence the reason it followed with points like consistent and success. I assumed I wouldn't spell it out what I meant.

TS said on local radio at the start of the season that he doesn't see us signing anymore players this season although there is some room in our cap to bring someone in. Now either he is a liar or once again your spouting your keyboard warrior stuff. I can't verify whether what TS said was a fact or not. I can only take his word for it. You seem to be sure as a fact I'm wrong so have you some evidence that we spent a full cap. Please share it so I can wave a white flag.

Now children......

Thanks WO.
Your post helps to clear up a few things for me.

Paul who is our Biggest ever youth signing?
I'm guessing it was Morgan Smith?
Have you any idea of the figures involved, did we have to pay a sum to Leeds?

You'll be better off asking Rubber Duck he knows everything about everything.

nobody likes a know all keyboard warrior, do yourself a favour and hit the foe button.