Latest Club News..

[ExmouthMart]

Walking past SJP earlier.It looks like the pitch renovations are starting at the double.
The carpark is fenced off,with about 20 tons of sand delivered earlier today.Some heavy machinery turned up this afternoon.

Maybe the 20 tons of sand is for Ajose to finally leave the club and walk out on a surface that suits his knees.

 

[The Proper Chap]

The Ice Man - Good keeper and very good at PR, he will do well for himself.

 

[ryancooper327]

Ballsed the links up

 

[ryancooper327]

Click through to see the others. Who did we spend £4K on?

https://twitter.com/i/web/status/1397665216326995974

 

[Red Bill]

Click through to see the others. Who did we spend £4K on?

https://twitter.com/i/web/status/1397665216326995974

I'm not a finance man and always struggle to interpret financial statements, P&Ls and balance sheets. So can anyone help me understand? When you see a statement like "ECFC lost £495k, it sounds like a bad thing, but if say we had a million quid in the bank and decided to spend half of that on improving facilities, would that half a million show up as a loss on the accounts even if income matched expenditure in all regular business, even though it was planned expenditure? Hope that makes sense!

 

[grecian-near-hell]

Please also bear in mind these figures are before any Ollie monies.

 

[Rosencrantz]

Please also bear in mind these figures are before any Ollie monies.

And at a time when we were running an enhanced playing budget and the season was curtailed.

 

[SEA Grecian]

I'm not a finance man and always struggle to interpret financial statements, P&Ls and balance sheets. So can anyone help me understand? When you see a statement like "ECFC lost £495k, it sounds like a bad thing, but if say we had a million quid in the bank and decided to spend half of that on improving facilities, would that half a million show up as a loss on the accounts even if income matched expenditure in all regular business, even though it was planned expenditure? Hope that makes sense!

I think you’ve got it about right. The basic problem is that accounts have to be produced on an annual basis but any sensible business budgets and plans spending over a much longer period of time. This is why accountants come up with all sorts of tricks like depreciating assets which are way too complicated for me to get my head round.

 

[Alistair20000]

I'm not a finance man and always struggle to interpret financial statements, P&Ls and balance sheets. So can anyone help me understand? When you see a statement like "ECFC lost £495k, it sounds like a bad thing, but if say we had a million quid in the bank and decided to spend half of that on improving facilities, would that half a million show up as a loss on the accounts even if income matched expenditure in all regular business, even though it was planned expenditure? Hope that makes sense!

Improvements to facilities would reflect as an asset in the balance sheet and would not be a cost in the P&L. In that balance sheet above you would move the 500k from cash at bank to tangible fixed assets.

However you cannot spend tangible fixed assets in the same way as cash at the bank and running out of cash is the main reason for business failure. Lots of shiny assets and no cash can be a hard place.

 

[JJ red&white]

Given those accounts are up to 30 June 2020, we know two significant events have happened since then which effect the balance sheet. Firstly the Ollie money received/due and secondly the trust loan being paid back. These two things both make our balance sheet even stronger than it was already looking.