Posted a loss of £74k. Not too shabby.

does this include stuff like the money paid out to Manu, Mcdonnell settlement and the sneyd transfer fee? If so not too bad all things considered

Manu's cost and Sneyd's fee will be spread over a longer period I would think.

Can you explain how that works even if Pearson is paying both Manu & Salford on the dribble?

Why are you asking me?




For someone so keenly versed in business and finance I'm amazed the accruals concept has passed you by.

S.

Care to detail how Manu would be treated

The payment to his fund should have been made by the club while he was here, 2007-12 (AP bought us in 2011)

As i understand it, the old board made provisions for these payments, but nothing actually went into the pot. (including 11&12 while AP was here)

so previous accounts show the money as gone. Then suddenly the money has to go, from AP's pocket. I'd assume the club didnt have £200k cash reserves.

Could be a loan, seen as you didnt mention if the accounts mention loans and called up share capital, (I dont expect them to)

My guess would be as good as yours

Deary me. What sort of accounts wouldn't "mention called up share capital"? Of course there are loans, but there's no detail. The crystallisation of the liability re Manu's EBT is ambiguous, but appears potentially to straddle the 2014 year end. As for Sneyd, the accounts are clear that the fee is amortised over the life of his contract.

So basically you don't know with respect to Manu and are guessing

DAB...bingo, you really are an obvious waste of server space

I didnt mention Sneyd, as generally in puffball and RL fees are run over contracts.

Anyway

My post assumed there would be no detail in the accounts, thank you for confirming that, its all i simply asked, no need to jump up and down.

My point about the EBT

AP has presided over 2 years of non payments, that were probably in the accounts as paid

Plenty on here jumping up and down wanting "forensic audits" of the SMC accounts,

i hope ours are clean........

The question was whether Manu's payout, reported as £200k, was included in the £74k loss. Given it accrued over several years I expect it would have been reflected over a longer period in the accounts. You were challenging the principle. Cash accounting isn't really on trend in the UK. Policy of amortisation on Sneyd's fee is explicit.

I don't get what you mean. If there's a liability created, it hits the P&L and you either pay it out in cash or create a provision in the balance sheet.

Lets talk laymens terms for the viewers benefit.

Say Manu did 5 years here, each year £40k went into the pot, so every year the accounts show £40k paid to the pot.

The money never went

So for 5 years accounts this payment was never made. Where did the £200k go?

And as AP has now had to pay the full £200k, he'll stump that in personally, still doesnt say what happened to the £200k that "had been paid" but infact never was.

Follow the cash.......

Years 1-5 Debit P&L, Credit Provisions in the balance sheet, no impact on cash.
Payment - Debit Provisions, Credit either cash or loans.

You're not an accountant then?

What do you do for a toil?

I dont need to be an accountant to ask Barista a question, and she doesnt need to be an accountant to answer it.

No, but you pretend you know what you're talking about when you clearly don't

Dab

And your contribution to the debate is?

I dont profess to know this or that, i dont squawk about what i do or dont know. I only asked a question

Lots of dabbing going on by Bumby & Freppers, our resident financial experts.

Really? Have the players been paid this month?

Ask 1865 easthullfc

I'm asking you as you seem to be the only one posting on the subject

As i understand it, this thread isnt about players being paid on time, its about the accounts

But seen as you asked, someone posted on here the players got paid 5 days late ater the Udders home game.

I've since been told by a different source this to be correct.

Have you joined Baristas playground gang or summat?