Linnets' Fans' Forum

General Category => General Discussion => Topic started by: Mallard on April 30, 2021, 07:20:32 PM

Title: Clubs latest accounts
Post by: Mallard on April 30, 2021, 07:20:32 PM
https://find-and-update.company-information.service.gov.uk/company/07102863/filing-history/MzI5OTYxMjM5MmFkaXF6a2N4/document?format=pdf&download=0
Title: Re: Clubs latest accounts
Post by: Mallard on April 30, 2021, 07:33:21 PM
Good to see improvements in the balance sheet with fixed assets etc.
Title: Re: Clubs latest accounts
Post by: northwootton on April 30, 2021, 08:47:41 PM
Donít know what balance sheet youíre looking at.  Deficit has increased by a further £65,000.  By any stretch of the imagination this is not a sound balance sheet!!!   Fixed assets are always questionable as invariably they are never worth what they are stated even if written down values apply unless of course itís freehold property which obviously itís not.  I believe the lease of the ground is not an asset of lynn fc ltd.
Title: Re: Clubs latest accounts
Post by: Blue_and_Gold on April 30, 2021, 10:41:27 PM
I believe the lease of the ground is not an asset of lynn fc ltd.

Not sure if that's correct North. I know there were rumours about ownership of the lease but my understanding is that it is  (was?) owned by Lynn FC.

What fixed assets could a Club such as Lynn have, to the value shown?   :dontknow:
Title: Re: Clubs latest accounts
Post by: Mallard on May 01, 2021, 06:24:42 AM
North the deficit has only increased because more money has been pumped in ( by the Chairman I assume), circa 150k.   He is on record has stating this money will never need to be repaid.   So with the doubling of the fixed assets then things look better than previous. 
Title: Re: Clubs latest accounts
Post by: northwootton on May 01, 2021, 08:26:01 AM
Mallard, Iím glad youíre not my financial advisor.  Your assessment and interpretation of a balance sheet is quite amazing.
Title: Re: Clubs latest accounts
Post by: KES80 on May 01, 2021, 09:36:26 AM
So add in this term 's loan of ?400k ?,(assuming this is to cover next season as well and allowing for say half to be in bank for next year , so worse case scenario could be looking at net liabs to start next season with, of around half a million. Let's hope the Covid climate enables a profitable and successful next season...Lynn and a number of others will need it to be......they need the fans to support them in  the largest possible numbers.......if the remainder of the loan gets used up to keep the club afloat next year, there could be very serious.problems .
Title: Re: Clubs latest accounts
Post by: Loughborough Linnet on May 01, 2021, 01:26:29 PM
So add in this term 's loan of ?400k ?,(assuming this is to cover next season as well and allowing for say half to be in bank for next year , so worse case scenario could be looking at net liabs to start next season with, of around half a million. Let's hope the Covid climate enables a profitable and successful next season...Lynn and a number of others will need it to be......they need the fans to support them in  the largest possible numbers.......if the remainder of the loan gets used up to keep the club afloat next year, there could be very serious.problems .

With these accounts, and the loan, that gives net debts of £700,000, not factoring in debts accrued during the 2020-21 financial year, which given whats been said will be substantial.
I wouldnít be surprised of the club had balance sheet of -£1million at present, which is not a good thing for a club at any level, but especially Non-league part-timers.
Title: Re: Clubs latest accounts
Post by: Blue_and_Gold on May 01, 2021, 01:57:16 PM
Mallard, Iím glad youíre not my financial advisor.  Your assessment and interpretation of a balance sheet is quite amazing.

 :laughcry:

I think he must usually deal in cash only.

 :laughcry:
Title: Re: Clubs latest accounts
Post by: Mallard on May 01, 2021, 02:06:06 PM
The club debt be it 750k or 1 mill the lesser figure predominately owed to one person.   That person has stated on more than one occasion that itís just an accountant process and will not have to be repaid.
 The loan that has been taken out is to be repaid by the fans paying a form of levy on admission.
Title: Re: Clubs latest accounts
Post by: MARCUS ROSE on May 01, 2021, 04:44:16 PM
The club debt be it 750k or 1 mill the lesser figure predominately owed to one person.   That person has stated on more than one occasion that itís just an accountant process and will not have to be repaid.
 The loan that has been taken out is to be repaid by the fans paying a form of levy on admission.

" a form of levy on admission".  You mean another massive increase in admission price?
Title: Re: Clubs latest accounts
Post by: Blue_and_Gold on May 01, 2021, 05:10:11 PM
The club debt be it 750k or 1 mill the lesser figure predominately owed to one person.   That person has stated on more than one occasion that itís just an accountant process and will not have to be repaid.
 The loan that has been taken out is to be repaid by the fans paying a form of levy on admission.

" a form of levy on admission".  You mean another massive increase in admission price?

Marcus. Was discussing this with a few people earlier.

The feeling is that the locals will in the main continue to support it for the time being, but we have no hope of  attracting the casual supporter. I would guess we need both.

People living 25 or so miles away will have the option (depending where they live) of travelling just a few miles  extra and watch the likes of Peterborough or Ipswich (assuming Norwich will always be a sell out) for little or no extra.

Of course the Club needs the money, as do other clubs. Continuing to hit the supporters via the entrance fee can't continue. Sooner or later people will say enough is enough.
Title: Re: Clubs latest accounts
Post by: Mallard on May 01, 2021, 05:20:05 PM
We are in a totally different situation where commercial enterprise is concerned.  Mark Hearle has a big job on his hands.  I read today despite losing one sponsor the Chairman has pulled in an extra 20% increase from shirt sponsors.  Mark has to deliver for next season.   Hopefully he is up to the task
Title: Re: Clubs latest accounts
Post by: KES80 on May 02, 2021, 09:34:44 AM
Yes, I feel at least a couple of new sponsorships required from the bigger local industries or even a couple of national tie ups......we are way beyond  little deals with small local businesses being sufficient to sustain a club at this level.
Title: Re: Clubs latest accounts
Post by: gs50 on May 02, 2021, 11:05:32 AM
Or a few more investors brought in this season has highlighted  you cannot operate as one man band
Title: Re: Clubs latest accounts
Post by: Mallard on May 02, 2021, 11:54:53 AM
Itís interesting that our Chairman has said that next seasons costs will rise.  Yet Boreham Wood Chairman Danny Hunter is saying the current wage bill to be reduced.   He is being up front with the fans and telling them NOT to buy a season ticket if they are expecting a play off challenge.  Hunter goes on to say the Club will be on Ďlife supportí for the foreseeable future.

Two sides of the same coin
Title: Re: Clubs latest accounts
Post by: MARCUS ROSE on May 02, 2021, 08:16:58 PM
Itís interesting that our Chairman has said that next seasons costs will rise.  Yet Boreham Wood Chairman Danny Hunter is saying the current wage bill to be reduced.   He is being up front with the fans and telling them NOT to buy a season ticket if they are expecting a play off challenge.  Hunter goes on to say the Club will be on Ďlife supportí for the foreseeable future.

Two sides of the same coin

That makes a refreshing change.  Telling it as it is. Obviously the survival of the Club is more important to him, than chasing glory at any cost.
Title: Re: Clubs latest accounts
Post by: Mallard on May 03, 2021, 10:07:08 AM
For a Chairman to be telling fans Not to buy a season when the cost for an Adult is £220 for 23(?) games is remarkable
Title: Re: Clubs latest accounts
Post by: MARCUS ROSE on May 03, 2021, 02:29:05 PM
For a Chairman to be telling fans Not to buy a season when the cost for an Adult is £220 for 23(?) games is remarkable

As a result of such honesty, they will probably sell a lot more than normal.
Title: Re: Clubs latest accounts
Post by: Mallard on May 03, 2021, 05:44:57 PM
At those prices fans must feel well appreciated.
Title: Re: Clubs latest accounts
Post by: Non League on May 04, 2021, 09:28:05 AM
If Boreham Wood are cutting back next season, and Cleeve wants to make a statement at this level, then sign Tshimanga.
Title: Re: Clubs latest accounts
Post by: Mallard on May 04, 2021, 09:49:47 AM
Surely itís down to IC how he spends the budget. SC is there just to provide it. 
Title: Re: Clubs latest accounts
Post by: Frontman on May 04, 2021, 11:35:01 AM
Paying rent, regularly to the Council!
Title: Re: Clubs latest accounts
Post by: Mallard on May 06, 2021, 08:19:03 PM
Frontman Iím not buying into that rumour.  Hardly a drop in the ocean at this level.
Title: Re: Clubs latest accounts
Post by: MARCUS ROSE on May 08, 2021, 10:44:41 AM
I see the Club would like to rent or buy 2  3 bedroom houses. To accommodate the summer signings.  Last week  poverty was being pleaded.  You can't make it up.  :laughcry:
Title: Re: Clubs latest accounts
Post by: Mallard on May 08, 2021, 11:36:40 AM
Buy two houses with a loan rate of 1% and repayment holiday to kick off with.  I wouldnít mind some of that.
Title: Re: Clubs latest accounts
Post by: gs50 on May 08, 2021, 11:54:43 AM
Amazing how things go round when I started watching in th e 60s we had a row of houses.
Title: Re: Clubs latest accounts
Post by: KES80 on May 08, 2021, 12:02:06 PM
Shades of what Weymouth have done.


Council could convert the Walks into 3 good sized houses and an all weather training facility and then we just need a new ground....quick someone put in a grant application........
Title: Re: Clubs latest accounts
Post by: gs50 on May 08, 2021, 05:05:44 PM
Joking aside the only solution for the Walks. No matter how much money spent on ground there will always be problem with drainage. Need to find land outside of town.
Title: Re: Clubs latest accounts
Post by: Blue_and_Gold on May 08, 2021, 05:37:23 PM
I see the Club would like to rent or buy 2  3 bedroom houses. To accommodate the summer signings.  Last week  poverty was being pleaded.  You can't make it up.  :laughcry:

I'd like to know how the Club itself could purchase two house's, unless it was for cash!
Title: Re: Clubs latest accounts
Post by: Blue_and_Gold on May 09, 2021, 09:38:57 AM
Shades of what Weymouth have done.


Council could convert the Walks into 3 good sized houses and an all weather training facility and then we just need a new ground....quick someone put in a grant application........

Where's Stan and his bucket when you need him?
Title: Re: Clubs latest accounts
Post by: Grissles Oleary on May 11, 2021, 05:18:48 PM
Shades of what Weymouth have done.


Council could convert the Walks into 3 good sized houses and an all weather training facility and then we just need a new ground....quick someone put in a grant application........

Where's Stan and his bucket when you need him?

 :laughcry: :laughcry: :laughcry:
Title: Re: Clubs latest accounts
Post by: dillydilly on May 11, 2021, 05:49:50 PM
Iím with KES on this. But I think there is rom for optimism, and thatís coming from a glass half empty man, or what used to be called a realist.  My optimism for next season, as Iíve bored people with before, comes from the Slough and York games.  If we are competitive next season, and can really mix it with all the opponents, I believe we can attract regular number like those seen at the two games I mentioned.  We have to sell the potential, somehow, OUTSIDE the ground.  We may not have the best ground at this level, but we are capable of being amongst the biggest attendances. 
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