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javeajag

Annual Accounts....

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52 minutes ago, Fawlty Towers said:

Appears that there could be some financial issues for the Inverness Thistle:

https://ictfc.com/club-statement-on-3rd-october-2019-egm

Without wishing to drag up issues and arguments about the old board it seems odd that in our first season in the Championship we had a small profit whilst they had an £800k loss - what sort of decisions were they making?

They never had the parachute payment or the same cut of the UEFA money being a league below (Championship) equates to around £600k plus they never sold a player like we did

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If I was eligible to ask just the one question at the AGM that question would be along the lines of "Can the Board guarantee that within the next 12 months the Club will not enter into any binding contract with Glasgow Warriors RUFC ".

 

edited to add this is a question I would've asked weeks ago and bears no connection to posts elsewhere on this site.

 

Edited by lady-isobel-barnett
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4 hours ago, AlgarveJag said:

What time is the AGM and are trust members allowed to attend or only shareholders and trustees?

Only Shareholders - the relevant Trust organisations send reps to represent there members 

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1 hour ago, lady-isobel-barnett said:

If I was eligible to ask just the one question at the AGM that question would be along the lines of "Can the Board guarantee that within the next 12 months the Club will not enter into any binding contract with Glasgow Warriors RUFC ".

 

edited to add this is a question I would've asked weeks ago and bears no connection to posts elsewhere on this site.

 

Any reason that you think they might?

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16 hours ago, Lenziejag said:

Why didn’t they get a parachute payment when they got relegated ?

They were given a parachute payment but a year before us. They came down a year before us

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You get a reduced parachute payment in the 2nd year. We got £500k last year and £250k this as we finished 11th and County who finished below us got £300k, they would have got a further £125k if they, er, hadn't actually gone straight back up by not f*cking everything up like we did. Assume Caley would be similar in parachute money to County so only £125k last year.

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7 hours ago, Norgethistle said:

They were given a parachute payment but a year before us. They came down a year before us

The notice on the ICT accounts said they had made an £800K loss in the last 2 years, so they would have had a parachute payment in each of those years ?

 

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3 hours ago, jagfox said:

 

I like the way this guy sets out our accounts. Indeed, it shows we've been mostly wise over the years in our approach to keeping in the black. I'd like to see that continue whoever owns PTFC in the future. But is impossible to judge current bidders on what been put in the public domain so far. In the meantime the current Board need to follow the pattern of recent years if they wish to make us attractive to prospective buyers - if that's their game plan. 

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It obviously doesn’t show the whole picture though. There is nothing in the results for player sales. Maybe that information isn’t publicly available.

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56 minutes ago, Lenziejag said:

It obviously doesn’t show the whole picture though. There is nothing in the results for player sales. Maybe that information isn’t publicly available.

It might not show all the detail but all the financial information is in there. It’s hard to square these numbers with the description of financial mismanagement by Beattie......

Edited by javeajag

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24 minutes ago, javeajag said:

It might not show all the detail but all the financial information is in there. It’s hard to square these numbers with the description of financial mismanagement by Beattie......

The numbers show the fact that we ran at a small profit last year. The talk is that there was a deficit budget set for this year but it will only be confirmed or not in next years accounts. Player income for Fitzpatrick and Lindsay was after the end period so wont be shown until next year as well. 

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56 minutes ago, Junior said:

The numbers show the fact that we ran at a small profit last year. The talk is that there was a deficit budget set for this year but it will only be confirmed or not in next years accounts. Player income for Fitzpatrick and Lindsay was after the end period so wont be shown until next year as well. 

Possibly .....but we have £650k in the bank at the end of May .....I think the point may be running at a deficit means reducing the £650k as opposed to spending all of that and more 

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34 minutes ago, javeajag said:

Possibly .....but we have £650k in the bank at the end of May .....I think the point may be running at a deficit means reducing the £650k as opposed to spending all of that and more 

The statement at AGM was to use all of it plus take a loan, prior to the transfer monies appearing (of which Caldwell was promised a fair chunk)

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21 minutes ago, Norgethistle said:

The statement at AGM was to use all of it plus take a loan, prior to the transfer monies appearing (of which Caldwell was promised a fair chunk)

Use it on what ?

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10 minutes ago, Norgethistle said:

The operation budget (players etc) for the season 

Really ? Seems way too much ....if anything our player costs will be less than last season 

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3 minutes ago, javeajag said:

Really ? Seems way too much ....if anything our player costs will be less than last season 

The initial plan was to have the same budget with less income (UEFA money, parachute money) hence the deficit mentioned in great detail at AGM

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38 minutes ago, Norgethistle said:

The initial plan was to have the same budget with less income (UEFA money, parachute money) hence the deficit mentioned in great detail at AGM

Still with player transfer fees to add in That would imply income declining by more than £1m....which is way too high 

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1 hour ago, javeajag said:

Still with player transfer fees to add in That would imply income declining by more than £1m....which is way too high 

The Original Budget in May ( without the Players Transfer etc as that was unknown ) had a Budget deficit which would be funded via Cash Reserves and a £350K loan - this was stated by David Kelly 

Subsequently they used the Player Transfer Money to square the deficit and lots of people including you - were hammering the Current Board for not getting the extra four Players 

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1 hour ago, javeajag said:

Still with player transfer fees to add in That would imply income declining by more than £1m....which is way too high 

It was stated at the AGM between Parachute - EUFA & Cup Runs we recieved £1MN on non recurring revenue that Season 

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