AFC Accounts?

[Kowalski]

I am sure they are normally out by now.

I can only assume the club are waiting for something good to happen on the park before attempting to bury more bad news.

[BobbyBiscuit]

I am sure they are normally out by now.

I can only assume the club are waiting for something good to happen on the park before attempting to bury more bad news.

 

Might just be genuinely late, fairly common occurence.

[Tyrant]

I am sure they are normally out by now.

I can only assume the club are waiting for something good to happen on the park before attempting to bury more bad news.

 

 

The mentality of a Dons fan that's been suffering for too long!

[Kowalski]

 

The mentality of a Dons fan that's been suffering for too long!

 

[mizer]

Might just be genuinely late, fairly common occurence.

 

Especially when its a company Willie Miller is involved in...... 

[stoney]

Being honest i think we are fucked. Think the rolled up interest from loan is due in march and we have absolutely no way of paying it back.

[manc_don]

Being honest i think we are fucked. Think the rolled up interest from loan is due in march and we have absolutely no way of paying it back.

 

The way the club has been performing on and off the pitch, it wouldn't surprise me if we are in a bit of shit.

[stoney]

From that side of it the club budget to be 11th and out in the first round of the cups (again losers mentality strating at the top) some might say sensible planning but at least we are covering ourselves from that side of things.

 

I can seriously seeing it being announced at the AGM that pittodrie will be sold off and planning put in for flats thus paving the way for the new stadium

 

Stewarty has us by the balls.

[baggy89]

When you consider the likelihood that the compo for McGhee, Leitch and Meldrum as well as Leighton's pay off will be included also last season our lowest average attendance since 03/04 and the collapse of the Setanta deal. OK there is the alleged £600k for Miller but I'd bet a large proportion of that was based on goals scored and appearances, wouldn't surprise me if there was a good bit to be added to the debt.

 

When's the latest they can be filed, December 31st?

[stoney]

Yeah according to companies house.

[BobbyBiscuit]

 

 

I can seriously seeing it being announced at the AGM that pittodrie will be sold off and planning put in for flats thus paving the way for the new stadium

 

Stewarty has us by the balls.

 

It is a possibilty that they'll announce Pittodrie is to be sold, why would they announce putting planning in for flats? That's the business of whoever buys the land which may or may not be Milne Homes.

[Tyrant]

I would have hoped that with years of cuts and shhite budgets that we'd be ready for making a repayment to the bank.

[baggy89]

It is a possibilty that they'll announce Pittodrie is to be sold, why would they announce putting planning in for flats? That's the business of whoever buys the land which may or may not be Milne Homes.

 

Having planning permission for the site will add significant value I would have thought.

[stoney]

Exactly

 

nobody will touch the site unless planning permission is given first.

[BobbyBiscuit]

Having planning permission for the site will add significant value I would have thought.

 

Absolutely, but I'd be amazed if they announced that particular statement at the AGM considering the main business of our chairman and his current popularity. they'd surely wait til after the AGM?

[dave_min]

Thought they had permission for flats on Pittodrie, as well as permission to build on top of Allan Park or was I high when I imagined that.

[Superstar Tradesman]

I just about slit my wrists reading about AFC as it is.

 

The last thing I'd want to do is sit and read through their accounts.

[stoney]

Something fishy is going on

 

Last year accounts released 31st Oct - AGM 23/11/09

 

2008 - Released 7th Nov and AGM 1st December

 

Why so late this year, the agm at earliest going to be in two weeks if they announce it next week?

[BobbyBiscuit]

Something fishy is going on

 

Last year accounts released 31st Oct - AGM 23/11/09

 

2008 - Released 7th Nov and AGM 1st December

 

Why so late this year, the agm at earliest going to be in two weeks if they announce it next week?

 

it's not necessarily fishy.  Could be anything, could be a problem at the printers, mistakes in the documents sent to the printers etc.

 

In saying that....

[Superstar Tradesman]

They cut back on stationary as a budgetary measure in 2009 after failing to draw up the 5 year plan over a 15 year period.

 

http://uk.wrs.yahoo.com/_ylt=A0WTf20lye9M7wsArUNWBQx./SIG=12rnacs47/EXP=1290811813/**http%3a//localism.com/image_store/uploads/1/8/5/5/0/ar122066194105581.jpg[/img]

[maverick sheep]

Thought they had permission for flats on Pittodrie, as well as permission to build on top of Allan Park or was I high when I imagined that.

 

I thought that too. In fact I thought the only reason the new stadium even got as far as the cartoon stage was that Milne had agreed to buy the land from himself. What a guy. Bleeds red.

 

Anyway. Yet more pish. Can't think of a more mismanaged entity than AFC. Fucking scunnered.

[BrownyBrown]

The AGM is due in this calendar year, and the accounts should be issued to shareholders 3 weeks prior to this. I'd be expecting them in the next week or so.

[mizer]

http://www.afc.co.uk/articles/20101127/aberdeen-football-club-announce-trading-results_2212158_2231184

 

Aberdeen Football Club announce trading results

 

Aberdeen Football Club plc today announced the trading results for the year ended 30 June 2010.

 

Pittodrie Chief Executive Duncan Fraser stated "The economic conditions facing Scottish football were as challenging as they have ever been and the events of the last twelve months right across the professional game in Scotland have reinforced that.

 

"The overall turnover fell from £8.557 million to £7.057 million with most of this decrease as a result of the consequences of the revised television deal following the collapse of Setanta.

 

"The overall wages to turnover figure after adjustments came in below the industry recommended level of 60 per cent despite the decreased turnover and the base wage level being maintained at previous levels as a result of the completion of the alignment between the bonus structure and the level of team performance".

 

The overall operating loss before depreciation and amortisation was £667,000 up from the previous figure of £327,000 but the transfer fee profit of £415,000 meant that overall, the figures were in line with last year's results as a consequence of the bonus alignment and the tight cost control.

 

Fraser added. "The 2009/10 base wage level increased slightly on the previous year and will be in excess of the majority of our competitors. The television deal means that operational losses are likely to continue in the short term but, going forward, the club's commitment to youth development will result in a sustainable budget that will be supplemented by transfer fees"

 

The Chief Executive further stated his intention to carry out a review of all aspects of the business and put in place a strategic plan to see the club through to the new stadium and training facilities.

 

Chairman Stewart Milne commented. "The period covered was extremely challenging on the park and a lack of consistency has caused real issues, an aspect that required to be addressed. While times are challenging the football budget is substantial and performances must improve to the level expected at the Club".

 

Commenting on the renewal of the bank facilities due to be renegotiated by March next year Stewart Milne added. "The Board and I are confident that, with the continued support of the major shareholders, the facilities will be re negotiated. "Rather than look to put in place a short term solution, we are seeking to ensure the facility covers the period through the development phase of the stadium and training operation."

 

This view was echoed by Duncan Fraser. "I have looked at the trading position through to the start of 2013/14 and beyond and have worked with the major shareholders to ensure that we can put in place the medium term facilities the Club requires."

 

This year's Annual General Meeting will take place in Pittodrie Stadium's Richard Donald Suite at 7 pm on Monday 20th December 2010.

[stoney]

How the fuck have they managed that

 

Net debt is up to £12.866 million from £10.977 last year.

 

Total wages  4.601 from 5.756

 

Loans due within 1 year 11.792 million

 

[Kowalski]

How the fuck have they managed that

 

Net debt is up to £12.866 million from £10.977 last year.

 

Total wages  4.601 from 5.756

 

Loans due within 1 year 11.792 million

 

Finishing 9th in the league got the blame, and poor cup runs with very few home games.

 

For wages they've said that the reason they are lower is that there is a new bonus scheme in place, and that the wages on playing staff is slightly lower than the year before.

I also noted from the report that executive directors have taken a pay cut which is included in the above figure - I'm assuming both Miller and Fraser are the only ones getting paid.

 

As for the loans, they are currently renegotiating their bank facilities so I don't know if that means the loan will end up being due further down the road!?