Clubs latest accounts

[Mallard]

https://find-and-update.company-information.service.gov.uk/company/07102863/filing-history/MzI5OTYxMjM5MmFkaXF6a2N4/document?format=pdf&download=0

[Mallard]

Good to see improvements in the balance sheet with fixed assets etc.

[northwootton]

Don’t know what balance sheet you’re 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 it’s freehold property which obviously it’s not.  I believe the lease of the ground is not an asset of lynn fc ltd.

[Blue_and_Gold]

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?   

[Mallard]

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. 

[northwootton]

Mallard, I’m glad you’re not my financial advisor.  Your assessment and interpretation of a balance sheet is quite amazing.

[KES80]

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 .

[Loughborough Linnet]

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 wouldn’t 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.

[Blue_and_Gold]

Mallard, I’m glad you’re not my financial advisor.  Your assessment and interpretation of a balance sheet is quite amazing.

 

I think he must usually deal in cash only.

 

[Mallard]

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 it’s 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.

[MARCUS ROSE]

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 it’s 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?

[Blue_and_Gold]

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 it’s 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.

[Mallard]

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

[KES80]

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.

[gs50]

Or a few more investors brought in this season has highlighted  you cannot operate as one man band