Swansea finances 09/10

A bit rich commenting on our finances when your in such a mess financially yourselves.People in glasshouses shouldn't throw stones,comes to mind. A few comments on a messageboard will not derail the Swansea express as it heads for the PL

Seriously though,i know it hurts that we're above you in the League after spending peanuts but show some integrity mun and take it on the chin

Just got our latest accounts.

Net debt now only £4m.

How did you come to that figure?

A bit rich commenting on our finances when your in such a mess financially yourselves.People in glasshouses shouldn't throw stones,comes to mind. A few comments on a messageboard will not derail the Swansea express as it heads for the PL

Seriously though,i know it hurts that we're above you in the League after spending peanuts but show some integrity mun and take it on the chin

Just got our latest accounts.

Net debt now only £4m.

How did you come to that figure?

Looked at the accounts mun.

Can give you a bigger explaination if you like, but the clue is in NET.

Looked at the accounts mun.

Can give you a bigger explaination if you like, but the clue is in NET.

I've looked at the accounts and can't understand how you have come up with that figure. To work out net debt, I assume you've taken all liabilities and minused off all assets.

If so it doesn't come to £4m in my book.

Looked at the accounts mun.

Can give you a bigger explaination if you like, but the clue is in NET.

I've looked at the accounts and can't understand how you have come up with that figure. To work out net debt, I assume you've taken all liabilities and minused off all assets.

If so it doesn't come to £4m in my book.

Huw Jenkins' book of running a succesful and profitable business ?

Doug Sharpe's book on stiffing creditors ?

Mike's book of 5%'s ?


Only accounts you need to see are the group ones.

Net Deficit is shown at the bottom of the balance sheet £4.494M. In actual fact it'll be less than that as £9m is being allowed for in stadium naming rights, which will never be realised.

Doesnt mean all is rosy mind as the accounts are only that much better due to valuing the stadium at £50m. But it is a TRUE figure.

Its cashflow that really matters, and that really isnt quitr so good.

Looked at the accounts mun.

Can give you a bigger explaination if you like, but the clue is in NET.

I've looked at the accounts and can't understand how you have come up with that figure. To work out net debt, I assume you've taken all liabilities and minused off all assets.

If so it doesn't come to £4m in my book.

Its the figure in the audited accounts.

The final figure on the group balance sheet.

Simples!!

Looked at the accounts mun.

Can give you a bigger explaination if you like, but the clue is in NET.

I've looked at the accounts and can't understand how you have come up with that figure. To work out net debt, I assume you've taken all liabilities and minused off all assets.

If so it doesn't come to £4m in my book.

Its the figure in the audited accounts.

The final figure on the group balance sheet.

Simples!!

I'm looking a the football club accounts so that must explain it.

Its the figure in the audited accounts.

The final figure on the group balance sheet.

Simples!![/quote]

I'm looking a the football club accounts so that must explain it.[/quote]


They arent of any relevence.
The Group accounts are all that matters really.

Wasted a whole pound as well

Looked at the accounts mun.

Can give you a bigger explaination if you like, but the clue is in NET.

I've looked at the accounts and can't understand how you have come up with that figure. To work out net debt, I assume you've taken all liabilities and minused off all assets.

If so it doesn't come to £4m in my book.

Its the figure in the audited accounts.

The final figure on the group balance sheet.

Simples!!

Still waiting for your summary Keith.

Latest accounts are a really interesting set of figures,and how to make a company look more healthy when its running at a massive loss

Picked out some of the 'highlights' in my thread above.

A bit rich commenting on our finances when your in such a mess financially yourselves.People in glasshouses shouldn't throw stones,comes to mind. A few comments on a messageboard will not derail the Swansea express as it heads for the PL

Seriously though,i know it hurts that we're above you in the League after spending peanuts but show some integrity mun and take it on the chin

As a Cardiff fan I would not normally comment on Swansea's Financial position good or bad. To have done what you have done in the league is commendable and most City fans would agree and not part of the issue.Unlike Cardiff your clubs ground is owned by us the rate payers and the Council, I say us because I contribute a tidy £6000.+

Danny as a Swansea ratepayer did you know that the Council have set the RV of the Liberty Stadium so low it's business rates are only £125,000K a year, this increased from £97K per year in 2008 following a review of RV.

During 2008 Cardiff City were paying over £400k and that figure has increased since the move to the CCS, I know we are talking about Swansea and the Capital city but +£300K

Perhaps the ratepayer of Swansea should ask the Council where the profits from the 2 Summer concerts at the Liberty Stadium are going, at the moment no doubt they will disappear into the accounts of the SMC and from there be used to reduce the operating costs of SCFC and Ospreys.

Surely the profit from a non football event belongs to the ratepayers of Swansea and not 2 private sports clubs. Surely