ASSF response to The Dons programme notes ... - Page 14

JEFF · 05-10-2009, 12:00

Quote:

Originally Posted by Whalley Red

Jeff, do you have a breakdown of current assets?

In the previous year's balance sheet, two-thirds of current assets were classed as 'other debtors'. If that is still the case (e.g. if Fraser Eagle are still classed as a debtor, though they clearly won't be paying any more money), then the club is all but technically insolvent.

Current Assets:
Stocks £20296
Debtors £71776
Cash at Bank £41022

The amount for Debtors has reduced from £123729 in 2007 to £71776 in 2008, I presume that this amount does include Fraser Eagle money but the balance sheet is only up to 31st May 2008 and Fraser Eagle were still in business then. Things may have changed since then.

Revived Red · 05-10-2009, 12:07

Calling Granville Thompson. Any comment, please? Remember what they said about you.

"greater financial control and monitoring.....wealth of experience in financial management....up-to-the-minute financial information"

bdc · 05-10-2009, 12:31

does anyone have a breakdown of fixed assets?

JEFF · 05-10-2009, 13:34

Quote:

Originally Posted by bdc

does anyone have a breakdown of fixed assets?

Total fixed assets £626243 made up of:

Intangible assets (Player transfer fees paid to acquire a player on a contract of two or more years) £75436.
At 1st June 2007 the figure was £10000 this was increased by £85000 (is this what we paid for Craney?) the value has been written down (amortised) by £19564 thus leaving a balance of £75436.

Tangible assets are £550807.
At 1st June 2007 the figure was £424263 during the year there were additions of £156964 (possibly the roof) these figures have been written down during the year (depreciated) by £30420 thus leaving a balance of £550807.

bdc · 05-10-2009, 13:41

Quote:

Originally Posted by JEFF

Total fixed assets £626243 made up of:

Intangible assets (Player transfer fees paid to acquire a player on a contract of two or more years) £75436.
At 1st June 2007 the figure was £10000 this was increased by £85000 (is this what we paid for Craney?) the value has been written down (amortised) by £19564 thus leaving a balance of £75436.

Tangible assets are £550807.
At 1st June 2007 the figure was £424263 during the year there were additions of £156964 (possibly the roof) these figures have been written down during the year (depreciated) by £30420 thus leaving a balance of £550807.

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bdc · 05-10-2009, 13:45

it worries me the fact the club have reported 550k for fixed assets, as far as i'm aware this should only be for the players and brand name. if the club have put the roof in as an asset i think it is incorrect accounting due to the fact they dont own the ground.

JEFF · 05-10-2009, 14:03

Quote:

Originally Posted by bdc

it worries me the fact the club have reported 550k for fixed assets, as far as i'm aware this should only be for the players and brand name. if the club have put the roof in as an asset i think it is incorrect accounting due to the fact they dont own the ground.

They don't own the land that the ground is built on but they still own all the buildings - club house, changing rooms, portakabins, steelwork, seats, turnstiles, etc. etc.