Very sceptical - new Andalucian breed, freshly introduced to the seaside.

From what I read, they made a profit, but had to pay for emergency renovation on the South Stand amounting to £500,000 which left them with a loss for the year.

They desperately need that place sorting out. As do Rovers.

league express ran an article 2 weeks ago they lost around £300,000 on the rugby business but sold assets to yorkshire ccc, giving them an over all profit, so on normal operation hull are the only team to make a profit last year really.

I believe the work they plan to do on the south stand has not been factored in to last years accounts so for next year I guess they'll be looking at a loss on the balance sheets barring a league and cup double.

They won't find me there thank fook - I'm a contractor!

He sounds a fast mover too Mrs B. Just be careful !

Having read a couple of snide references to our current financial situation in the press this week, it would appear that the media seem to be intent on looking for something to blight our good financial results, the motives for which are beyond me, (although some of us could possibly hazard a guess), but some folks are trying to seriously muddy the water here.

The club are keeping stum, pehaps because they don't want to appear clever dicks so In an effort to clear up the whole subject, (for the average fan like me who has serious trouble balancing the housekeeping), I have asked an Accountant of some repute to comment on our last set of accounts and explain in laymans terms how they work, what player valuations, assets and liabilities, etc. have to do with it all, and what our current financial situation as a club really is. That will be in the next edition of the Dentists Diary!

Although whether that will include Zebra's, Rats, Zoo's in Withernsea etc remains to be seem!

Good thinking Wilf - let's hear it from the 'horses mouth'.

not the Zebra's mouth?

Balance sheet insolvent

explain

Liabilities exceed assets.

Now you will say how the debts are loans to directors, but facts are facts.

Doesnt worry me too much

so long as the income exceeds expenditure!

Hence the phrase "balance sheet insolvent" depends which way you view it. We are solvent in the sense of income meets expediture etc.

But if it came to a point where we needed to secure £1million for example, for the training facility, for example, it would come from directors, rather than be secured by the club against any assets.

Wheres Vince when we need him

Mrs B's?

You could never raise finance against intangible assets (players), the only way we can raise the money for the training facility would be via directors, especially as we don't own our ground.

Not having any tabgible assets also means we don't have many fixed liabilities.

Do you have any eggs that you can teach me to suck?

Sorry - but you blow eggs!

Sucking eggs is a nasty business.

True, but as Wellsy13 said the £500,000 emergency repairs on the South Stand were what took us to the £300,000 loss otherwise we would have made a profit of (obviously!) around £200,000.


There isnt any work on the South Stand planned for next season, whenever any work is undertaken I assume it will be a completely new stand, probably similar to the Carnegie Stand with seats on top and standing underneath.

Was funny when bite of new stand blew off and were all over the road though.
Was to us anyway......

I think you're overlooking the point that the directors who are owed the money are also the shareholders i.e. the owners of the company. When a company needs money its up to the shareholders to obtain it, or provide it themselves. That's why its not a problem.

Indeed, it's just HKC trying to have a dig at the board/shareholders again, fair enough when it's warranted, but when they ahve just posted the only genuine profit in SL it's a bit harsh.

It wasnt a dig at all, it was the facts being posted after Wilf claiming he'll get an accounting exclusive on our accounts for next week sock a thon.

Like i said in a post i'm not too worried about the balance sheet (except we have NO assets) i am bothered about if the club needs to secure further funding and we'll be further in bed with Kath n co!

And?

Say what you like.........our club is on a safe fianacial footing with those in charge and i would sooner have that than the other clubs debts....The board isnt perfect but they are going in the right direction and they are more open with us than before.......Why Kath...she isnt the majority shareholder but dont let facts get in your way...doesnt usually bother you.

we do have assets actually.