Company Accounts

[David Treharne]

Malcolm the club accounts state the Supporters Society Ltd registered office is Fairlawns ,Clyst Hydon but the Society accounts for the same year state their registered office as St James Park, all very strange.

The former is the address of the Treasurer at the time that the Trust took control of the Club; the registered address is now SJP. Clerical oversight?

 

[Antony Moxey]

No, I'm not going to run through the accounts line by line, you're a company director and I'm sure you can pick them out...

You don’t need to, you said there were lots of things you could pick out which means you’ve obviously already spotted them so please list them, I’m genuinely interested. Also, your original post was directed to the wider audience, many of whom aren’t company directors, rather than directly at me so I would imagine they’d be as interested as I am on your views.

 

[iscalad]

You don’t need to, you said there were lots of things you could pick out which means you’ve obviously already spotted them so please list them, I’m genuinely interested. Also, your original post was directed to the wider audience, many of whom aren’t company directors, rather than directly at me so I would imagine they’d be as interested as I am on your views.

I've never owned a company or been a director. I'd be interested.

 

[Matt Russell]

I've never owned a company or been a director. I'd be interested.

Go for it please - I'd be interested too.

 

[Red & White]

The accounts were filed within the deadline, they do not need to be submitted to Companies House at the time of signature and it maybe that it was requested that they were filed nearer to the deadline.

As only an abbreviated set of accounts have been filed there is limited information, (https://beta.companieshouse.gov.uk/company/00097808/filing-history) however from a quick look the following points are:

1) The previous year had accounts filed for the year ending 31 May 2016 and then a 1 month period to 30 June 2016.

2) The retained earnings have fallen from £907,543 to £115,233, which would indicate a loss of approximately £792,000 has been incurred in the year to 30 June 2017. Some of this would be due to an accounts adjustment due to writing off the value of assets in line with the lease of the stadium. I do not recall seeing any information as regards to any loss arising on the trading activities of the football club.

3) The average number of employees in the year to 30 June 2017 was 226, this would include players, coaches, ground staff and all other salaried persons of the football club.

4) Costs of the football pitches (presumably the work undertaken at SJP and Cat & Fiddle) in the year to 30 June 2017 were £793,327 which have been capitalised as an asset.

5) The amount owed to the football club, by it's debtors, has reduced from £1,035,987 to £354,694 presumably as a result of the tranch of the Grimes transfer fee being received.

6) No corporation tax was payable at 30 June 2017.

7) Amounts payable to Exeter City Supporters Society Ltd have remained at £830,058.

8) The auditor found nothing which the stakeholders should be made aware of.

9) It would appear that the cash received from transfers has been reinvested into the infrastructure of the club, the balance sheet still shows a positive position. It would be interesting to see how the 30 June 2018 accounts fair when they are available.

 

[denzel]

226 employees? This seems a lot! Assuming an average wage of £20k that's 4.5 million...

 

[John William]

226 employees? This seems a lot! Assuming an average wage of £20k that's 4.5 million...

Includes matchday casuals - turnstile operators, stewards, etc.

IIRC there are about 70 "staff" including FT players but excluding Academy. Mike C might be able to confirm.

 

[Oldsmobile-88]

226 employees? This seems a lot! Assuming an average wage of £20k that's 4.5 million...

Stewards,catering staff etc...They might only be paid just a few hours every two weeks...Even with the casual staff,226 does seem a lot,perhaps that figure includes people who have just worked for a couple of weeks & have not been retained ?

 

[Matt Russell]

Not so long ago that there was a clamour for all SJP employees to be paid the living wage - success............now they're on 20K a year!

 

[malcolms]

You don’t need to, you said there were lots of things you could pick out which means you’ve obviously already spotted them so please list them, I’m genuinely interested. Also, your original post was directed to the wider audience, many of whom aren’t company directors, rather than directly at me so I would imagine they’d be as interested as I am on your views.

Mox, I'm in Dubai at the moment organising a convention so I don't have the time this week. When I get back I will see if I can provide a few pointers.