£111K Loss

[Behind-the-Gulls]

2011-2012 acounts revealed a £111,000 loss last season,according to HE.Turnover dropped by £150,000 to £2,575,685.
£1.82 million is owed to Holding company,Plainmoor Ltd-mostly loans from Thea Bristow.
Baker says that overall club is in good position but needs to be breaking-even asap.Transfer fees for Eunan,Olejnik,and Ellis will be included in next years acounts,but again expecting a loss-mostly because of investment off the field.

[PhilGull]

2011-2012 acounts revealed a £111,000 loss last season,according to HE.Turnover dropped by £150,000 to £2,575,685.
£1.82 million is owed to Holding company,Plainmoor Ltd-mostly loans from Thea Bristow.
Baker says that overall club is in good position but needs to be breaking-even asap.Transfer fees for Eunan,Olejnik,and Ellis will be included in next years acounts,but again expecting a loss-mostly because of investment off the field.

Not a terrible position to be in, certainly better than a lot of clubs. No money owed to HMRC, banks or other outside persons.

[AustrianAndyGull]

Thank God for that, i thought this was a thread about how much Bix had lost so far this year in failed bets!

I'm getting pretty close too.


On subject, i must confess to knowing very little about our finances other than that we are a very well run club behind the scenes in terms of finance, we have spent money on the infrastructure of the club and that we have pretty much zero debts owed to major creditors and the like. So the figure of £111k doesn't mean a great deal to me but from what i've heard it is ok to have this loss and subject to retaining our league status we can hope to gradually reduce our losses in the near future and continue to be a efficiently run community club with a sustainable future and i'll drink to that! ( Well, when my tonsils are better :~D )

[leetufc]

2011-2012 acounts revealed a £111,000 loss last season,according to HE.Turnover dropped by £150,000 to £2,575,685.
£1.82 million is owed to Holding company,Plainmoor Ltd-mostly loans from Thea Bristow.
Baker says that overall club is in good position but needs to be breaking-even asap.Transfer fees for Eunan,Olejnik,and Ellis will be included in next years acounts,but again expecting a loss-mostly because of investment off the field.

The off field investment shouldn't affect whether we make a profit or loss next season as this will be included as fixed assets rather than an expense. I see in this years accounts we have included additional assets at 1.3 million pounds - which I assume the majority will relate to the Bench.

[bixieupnorth]

Thank God for that, i thought this was a thread about how much Bix had lost so far this year in failed bets!

chortle!! over a grand up so far this year!!

[lucy6lucy]

League football is essential for next season