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Author Topic: Our Financial Position  (Read 1506 times)

Offline Roma

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Our Financial Position
« on: February 08, 2016, 03:24:03 pm »
Just done some digging around the internet and according to Companies House, Sheffield United FC Ltd's accounts (i.e. the football club's) are due to be returned by tomorrow (9th Feb).  This means that they should be available for perusal on Companies House in a few days time.  The problem is that these will be the accounts to June 2015, so might not tell us much regarding our current status.

Whilst taking a look at the previous accounts, I found some interesting information.  The problem we now have as fans is that as a Ltd company (rather than a PLC) the company no longer needs to provide much detail in the accounts. That said, I've spotted a few interesting items:

In the June 2014 accounts, we reported a 30,754,476 profit (yes 30m).  Before we get excited this was mainly down to the waiver of an "inter company" loan of 34.5m (this amount also appears in the accounts of Sheffield United Ltd (what was Conrad and wholly owned by the McCabes). So McC wrote off his 34.5m of debt in 2014, probably to allow HRH to buy the club. 

However, before you think it was an act of generosity, also in the McC's SU Ltd accounts is a new tangible asset worth a very similar amount to the loan write-down - Bramall Lane....  In McC's SU Ltd accounts is also the profit for this company which looks to be almost entirely rent of about 350k.

So McC took Bramall Lane  in exchange for writing off his loan. Considering of what BDTBL consists of (land, offices, hotel etc) 34m isn't a bad deal..

The accounts of the SUFC Ltd company also show profit of 959k on disposal of player registrations (in 2013 this figure was 3m).

The football club only has 941k in tangible assets and 487k intangible.

There is another loan in the accounts this time to K McCabe directly with an outstanding balance of 621k and interest paid of 14k for the year.

Will be interesting to see how the accounts changed following HRH buying half the club.

Offline lingsbord

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Re: Our Financial Position
« Reply #1 on: February 08, 2016, 05:11:37 pm »
Thanks for that Roma

Is the £1 to be shown as paid-up share capital or simply issued at this stage, with the pound itself to follow later, or in instalments over an agreed period?

Offline Roma

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Re: Our Financial Position
« Reply #2 on: February 10, 2016, 11:27:07 am »
For those that are interested here are the accounts of Sheffield United Ltd to June 2015.

Note these are for what was the PLC, not the football club - I'll post them when they're published any time now...

https://beta.companieshouse.gov.uk/company/00396956/filing-history/MzEzOTc4NzExN2FkaXF6a2N4/document?format=pdf&download=0

Offline Vamps

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Re: Our Financial Position
« Reply #3 on: February 10, 2016, 12:49:19 pm »
For those that are interested here are the accounts of Sheffield United Ltd to June 2015.

Note these are for what was the PLC, not the football club - I'll post them when they're published any time now...

https://beta.companieshouse.gov.uk/company/00396956/filing-history/MzEzOTc4NzExN2FkaXF6a2N4/document?format=pdf&download=0

Can I loan them some money on those interest rates please................

My one question from those - when is the winding up order being issued?
The Landlord!

Offline BoltonBlade

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Re: Our Financial Position
« Reply #4 on: February 10, 2016, 01:10:02 pm »
For those that are interested here are the accounts of Sheffield United Ltd to June 2015.

Note these are for what was the PLC, not the football club - I'll post them when they're published any time now...

https://beta.companieshouse.gov.uk/company/00396956/filing-history/MzEzOTc4NzExN2FkaXF6a2N4/document?format=pdf&download=0

So who is this JJ Tutton? I presume as he is associated with Esplanade Sec Services, he is the Company Secretary? I didn't think a Comp Sec could be a Director

Offline lingsbord

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Re: Our Financial Position
« Reply #5 on: February 10, 2016, 05:08:36 pm »
Yes Bolts you can be Director and Company Secretary mate.

Vamps - kinell that's some interest rate, I'll have a slice of that!

What a load if accounting skulduggery that lot demonstrates
« Last Edit: February 10, 2016, 06:00:05 pm by lingsbord »

Offline Roma

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Re: Our Financial Position
« Reply #6 on: February 11, 2016, 01:07:57 pm »
Here you go chaps, as you enjoyed those so much, here's the accounts of Blades Leisure Limited:

https://beta.companieshouse.gov.uk/company/06963761/filing-history/MzExNDY4NzcyOGFkaXF6a2N4/document?format=pdf&download=0

Offline Roma

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Re: Our Financial Position
« Reply #7 on: February 11, 2016, 01:20:03 pm »
Purchase of intangible fixed assets (Players) = 748,000 2013 and 717,765 2014

Sale of intangible fixed assets = 4,436,000 2013 and 3,228,096 2014.

So in 2 years we made a net surplus of 6,146,691 in player sales...

Says it all really.

Offline Roma

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Re: Our Financial Position
« Reply #8 on: February 24, 2016, 04:29:03 pm »
Oh FFS. Now we can't even run the business.  Annual Return overdue at Companies House!!!

https://beta.companieshouse.gov.uk/company/00061564

 



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