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Post by sword65 on Aug 15, 2020 3:01:24 GMT
Someone on Facebook claiming Ebbsfleet lost £2.6 million for the second year running. If true, am I the only one who finds it obscene? That is surely far greater than even their playing budget. As such the question should be HOW can they lose that much money? Do they have gold plated toilets or is it some nefarious (accounting) practices? I would assume that ground improvements accounts for the majority of the loss but a huge squad on silly money and a smaller than average NL crowd had something to do with it as well.
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Post by porkystone on Aug 15, 2020 5:55:42 GMT
Someone on Facebook claiming Ebbsfleet lost £2.6 million for the second year running. If true, am I the only one who finds it obscene? Accounts for Ebbsfleet United FC Limited ( Company # 00412018 ) ' EUFC ' for the Year Ended 30 May 2019 have been available to the public free of charge on the Companies House web site since filed on 23 July 2020. Because Ebbsfleet does not enjoy filing exemptions through size / ownership etc these are full accounts, and run to 27 pages, proving to be a goldmine of information. Briefly, in the year to 30 May 2019 EUFC had turnover of £ 1,005,507 and made a loss of £ 2,661,073 ( Prior Year, turnover £ 909,399, loss of £ 2,622,613 ). Stonebridge Road is in the books at a value of £ 6,391,575 @ 30 May 2019, and the operation is funded by Share Capital Issues & loans from the owners. Remarkably, wages, salaries, pension costs for the year to 30 May 2019 amounted to £ 2,083,275 ( so 2 x turnover ). Quite remarkable !
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Post by sword65 on Aug 15, 2020 7:16:29 GMT
Someone on Facebook claiming Ebbsfleet lost £2.6 million for the second year running. If true, am I the only one who finds it obscene? Accounts for Ebbsfleet United FC Limited ( Company # 00412018 ) ' EUFC ' for the Year Ended 30 May 2019 have been available to the public free of charge on the Companies House web site since filed on 23 July 2020. Because Ebbsfleet does not enjoy filing exemptions through size / ownership etc these are full accounts, and run to 27 pages, proving to be a goldmine of information. Briefly, in the year to 30 May 2019 EUFC had turnover of £ 1,005,507 and made a loss of £ 2,661,073 ( Prior Year, turnover £ 909,399, loss of £ 2,622,613 ). Stonebridge Road is in the books at a value of £ 6,391,575 @ 30 May 2019, and the operation is funded by Share Capital Issues & loans from the owners. Remarkably, wages, salaries, pension costs for the year to 30 May 2019 amounted to £ 2,083,275 ( so 2 x turnover ). Quite remarkable ! Yeah, and all to get relegated 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
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Post by 61666 on Aug 15, 2020 7:34:38 GMT
So, if the ground is worth six million or so and they have leaked five million in the last two years, one assumes their assets amount to three fifth of five eights of not very much. Once the owner leaves, the club would effectively cease to exist overnight. Bizarre, obscene, should not be allowed.
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Post by porkystone on Aug 15, 2020 7:56:57 GMT
So, if the ground is worth six million or so and they have leaked five million in the last two years, one assumes their assets amount to three fifth of five eights of not very much. Once the owner leaves, the club would effectively cease to exist overnight. Bizarre, obscene, should not be allowed. A sketch of the Balance Sheet @ 30.05.2019: Fixed Assets £ 6,734 K Stock, Cash, Receivables £ 27 K Creditors ( incl loans ) £( 3,244 ) K Long Term Creditors £( 54 ) K ------ Net Assets £ 3,463 K ====== Represented By: Share Capital & Premium £ 16,734 K Accumulated Loss £( 13,271 ) K ------ Total Equity £ 3,463 K ====== So through the years, this venture has lost over £ 13 million ( difficult to draw precise conclusions on this ... ). Who'd own a football club ?
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Post by Nick 2 on Aug 15, 2020 11:03:00 GMT
How on earth can Hollands and Blair afford Danny Kedwell .
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Post by gromley on Aug 15, 2020 11:49:10 GMT
Think he was part of a buy one get one for a penny deal.
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Post by jdl on Aug 15, 2020 11:51:22 GMT
Accounts for Ebbsfleet United FC Limited ( Company # 00412018 ) ' EUFC ' for the Year Ended 30 May 2019 have been available to the public free of charge on the Companies House web site since filed on 23 July 2020. Because Ebbsfleet does not enjoy filing exemptions through size / ownership etc these are full accounts, and run to 27 pages, proving to be a goldmine of information. Briefly, in the year to 30 May 2019 EUFC had turnover of £ 1,005,507 and made a loss of £ 2,661,073 ( Prior Year, turnover £ 909,399, loss of £ 2,622,613 ). Stonebridge Road is in the books at a value of £ 6,391,575 @ 30 May 2019, and the operation is funded by Share Capital Issues & loans from the owners. Remarkably, wages, salaries, pension costs for the year to 30 May 2019 amounted to £ 2,083,275 ( so 2 x turnover ). Quite remarkable ! Yeah, and all to get relegated 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣 Much as I share your enjoyment, these accounts are actually for the previous year, where (if memory serves) they made the playoffs. Still silly money, but they came within a gnat's goolie of getting into the EFL. They'd probably have regarded that as money well spent!
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Post by Tstone on Aug 15, 2020 14:16:38 GMT
Limited Company accounts should be filed 9 months from end of financial year so were a tad late.
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Post by porkystone on Aug 15, 2020 15:46:42 GMT
Limited Company accounts should be filed 9 months from end of financial year so were a tad late. Very true, although the COVID situation has meant that the Registrar has waived penalty fees + deadlines at the moment.
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Post by Tstone on Aug 15, 2020 16:54:11 GMT
Limited Company accounts should be filed 9 months from end of financial year so were a tad late. Very true, although the COVID situation has meant that the Registrar has waived penalty fees + deadlines at the moment. 9 months from end of May would have been end of Feb - nearly a month before lockdown.
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Post by daveharris on Aug 15, 2020 17:10:27 GMT
Accounts for Ebbsfleet United FC Limited ( Company # 00412018 ) ' EUFC ' for the Year Ended 30 May 2019 have been available to the public free of charge on the Companies House web site since filed on 23 July 2020. Because Ebbsfleet does not enjoy filing exemptions through size / ownership etc these are full accounts, and run to 27 pages, proving to be a goldmine of information. Briefly, in the year to 30 May 2019 EUFC had turnover of £ 1,005,507 and made a loss of £ 2,661,073 ( Prior Year, turnover £ 909,399, loss of £ 2,622,613 ). Stonebridge Road is in the books at a value of £ 6,391,575 @ 30 May 2019, and the operation is funded by Share Capital Issues & loans from the owners. Remarkably, wages, salaries, pension costs for the year to 30 May 2019 amounted to £ 2,083,275 ( so 2 x turnover ). Quite remarkable ! Yeah, and all to get relegated 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣 It all started to go wrong swordy when Daryl left the building
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Post by daveu on Aug 15, 2020 17:22:47 GMT
Yeah, and all to get relegated 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣 It all started to go wrong swordy when Daryl left the building I think it may have been well before that. Probably when Daryl failed to put out a team to see us off in the playoff final, or maybe even earlier when his team threw away a massive lead and the chance of automatic promotion.
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Post by sword65 on Aug 15, 2020 17:39:49 GMT
Yeah, and all to get relegated 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣 It all started to go wrong swordy when Daryl left the building Oh dear,have they let you out of the rubber room again?🤣
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Post by daveharris on Aug 16, 2020 19:46:40 GMT
It all started to go wrong swordy when Daryl left the building I think it may have been well before that. Probably when Daryl failed to put out a team to see us off in the playoff final, or maybe even earlier when his team threw away a massive lead and the chance of automatic promotion. I dont know old bean, i still haven't recovered from the way the club treated Daryl after he had achieved so much, remember he got us to the national play offs in his first season and wasn't intimidated in the higher league
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