BBC have they got it wrong about City’s accounts?

A forum for all things Cardiff City

BBC have they got it wrong about City’s accounts?

Postby Always City » Wed Jun 02, 2021 1:29 pm

BBC

02/06/2021



BBC Wales report on 2020 Cardiff City accounts



They say that the net liabilities of CCFC are £118m.
Always City
 
Posts: 229
Joined: Fri Jul 31, 2020 2:22 pm

BBC have they got it wrong about City’s accounts?

Advertisement

Advertisement
Login or Register to remove this ad.

Re: BBC have they got it wrong about City’s accounts?

Postby Ninian1962 » Wed Jun 02, 2021 1:55 pm

Always City wrote:BBC

02/06/2021



BBC Wales report on 2020 Cardiff City accounts



They say that the net liabilities of CCFC are £118m.


Yes they have. They have quoted the figure which is the gross amount payable by the club within 12 months after the balance sheet debt and haven`t understood that net liabilities is the total of all liabilities less the total of all assets. At 31 May 2020 this figure was £24m not £118m
Ninian1962
 
Posts: 45
Joined: Tue May 18, 2021 11:43 am

Re: BBC have they got it wrong about City’s accounts?

Postby JJ1927 » Wed Jun 02, 2021 3:58 pm

Always City wrote:BBC

02/06/2021



BBC Wales report on 2020 Cardiff City accounts



They say that the net liabilities of CCFC are £118m.

In my experience many BBC journalist don't understand numbers. BBC Wales in particular wouldn't have a clue on understanding a set of accounts.
JJ1927
 
Posts: 1262
Joined: Mon Sep 12, 2016 12:19 pm

Re: BBC have they got it wrong about City’s accounts?

Postby bluesince62 » Wed Jun 02, 2021 4:23 pm

The same bbc thst reported ",hundreds" attend freedom rally in london? What do people expect??
bluesince62
 
Posts: 5439
Joined: Sat Jun 29, 2013 11:02 am

Re: BBC have they got it wrong about City’s accounts?

Postby Sven » Wed Jun 02, 2021 5:08 pm

Ninian1962 wrote:
Always City wrote:BBC

02/06/2021



BBC Wales report on 2020 Cardiff City accounts



They say that the net liabilities of CCFC are £118m.


Yes they have. They have quoted the figure which is the gross amount payable by the club within 12 months after the balance sheet debt and haven`t understood that net liabilities is the total of all liabilities less the total of all assets. At 31 May 2020 this figure was £24m not £118m

The 'Beeb' exagerrating or manipulating Cardiff City stories...? :?

Surely not them; there's no agenda with them, is there...? :o :shock:

Oh, hang on... :roll: :lol: :lol:
"The narcissist measures and judges but will not tolerate being judged or measured..."
User avatar
Sven
Moderator
 
Posts: 20690
Joined: Sat Aug 21, 2010 6:14 pm

Re: BBC have they got it wrong about City’s accounts?

Postby JJ1927 » Wed Jun 02, 2021 5:10 pm

JJ1927 wrote:
Always City wrote:BBC

02/06/2021



BBC Wales report on 2020 Cardiff City accounts



They say that the net liabilities of CCFC are £118m.

In my experience many BBC journalist don't understand numbers. BBC Wales in particular wouldn't have a clue on understanding a set of accounts.

I have just downloaded the accounts. The net liabilities are actually worse at 129K. If BBC are quoting 118K they are seem to be quoting the 2019 figure.
JJ1927
 
Posts: 1262
Joined: Mon Sep 12, 2016 12:19 pm

Re: BBC have they got it wrong about City’s accounts?

Postby JJ1927 » Wed Jun 02, 2021 5:12 pm

JJ1927 wrote:
JJ1927 wrote:
Always City wrote:BBC

02/06/2021



BBC Wales report on 2020 Cardiff City accounts



They say that the net liabilities of CCFC are £118m.

In my experience many BBC journalist don't understand numbers. BBC Wales in particular wouldn't have a clue on understanding a set of accounts.

I have just downloaded the accounts. The net liabilities are actually worse at 129K. If BBC are quoting 118K they are seem to be quoting the 2019 figure.
That of course should be 129million not 129 K!!
JJ1927
 
Posts: 1262
Joined: Mon Sep 12, 2016 12:19 pm

Re: BBC have they got it wrong about City’s accounts?

Postby Ninian1962 » Wed Jun 02, 2021 6:44 pm

JJ1927 wrote:
JJ1927 wrote:
Always City wrote:BBC

02/06/2021



BBC Wales report on 2020 Cardiff City accounts



They say that the net liabilities of CCFC are £118m.

In my experience many BBC journalist don't understand numbers. BBC Wales in particular wouldn't have a clue on understanding a set of accounts.

I have just downloaded the accounts. The net liabilities are actually worse at 129K. If BBC are quoting 118K they are seem to be quoting the 2019 figure.


Not sure what set of accounts you are looking at but the net liabilities of Cardiff City Football Club (Holdings) Limited as at 31 May 2020 were definitely £24m. In the previous year`s accounts , as at 31 May 2019 the net liabilities were £11.5m Did you download another company`s accounts? Genuine question as I have no idea where you got your figure of £129m
Ninian1962
 
Posts: 45
Joined: Tue May 18, 2021 11:43 am

Re: BBC have they got it wrong about City’s accounts?

Postby Ninian1962 » Wed Jun 02, 2021 6:51 pm

JJ1927 wrote:
JJ1927 wrote:
JJ1927 wrote:
Always City wrote:BBC

02/06/2021



BBC Wales report on 2020 Cardiff City accounts



They say that the net liabilities of CCFC are £118m.

In my experience many BBC journalist don't understand numbers. BBC Wales in particular wouldn't have a clue on understanding a set of accounts.

I have just downloaded the accounts. The net liabilities are actually worse at 129K. If BBC are quoting 118K they are seem to be quoting the 2019 figure.
That of course should be 129million not 129 K!!


Sorry I now see what you have done wrong. You have downloaded the accounts for the wrong company - Cardiff City Football Club Limited, This is just one subsidiary of the football club group and excludes a lot of the assets of the business , including the stadium. The accounts which are relevant are those of Cardiff City Football Club (Holdings) Limited which include all transactions and all assets and liabilities.

Keith
Ninian1962
 
Posts: 45
Joined: Tue May 18, 2021 11:43 am

Re: BBC have they got it wrong about City’s accounts?

Postby JJ1927 » Sun Jun 06, 2021 9:50 am

Ninian1962 wrote:
JJ1927 wrote:
JJ1927 wrote:
JJ1927 wrote:
Always City wrote:BBC

02/06/2021



BBC Wales report on 2020 Cardiff City accounts



They say that the net liabilities of CCFC are £118m.

In my experience many BBC journalist don't understand numbers. BBC Wales in particular wouldn't have a clue on understanding a set of accounts.

I have just downloaded the accounts. The net liabilities are actually worse at 129K. If BBC are quoting 118K they are seem to be quoting the 2019 figure.
That of course should be 129million not 129 K!!


Sorry I now see what you have done wrong. You have downloaded the accounts for the wrong company - Cardiff City Football Club Limited, This is just one subsidiary of the football club group and excludes a lot of the assets of the business , including the stadium. The accounts which are relevant are those of Cardiff City Football Club (Holdings) Limited which include all transactions and all assets and liabilities.

Keith
Yes i can see now that the consolidated accounts show the net liabilities as you say, the debt to equity conversion in 2018 being the main reason for the difference. The stadium and most of the assets are held by the football company, although of course the holding company indirectly owns them through its ownership of the subsidiary football company.
JJ1927
 
Posts: 1262
Joined: Mon Sep 12, 2016 12:19 pm



Return to General Chat

Who is online

Users browsing this forum: Bluebina, bluebirdrob, Clusterman, cmorris1927, Frosty_Blue, Ian Gibson fanclub, Igovernor, maccydee, Majestic-12 [Bot], montyblue, MOZZER1, nick_strin, NIGELNIGLE, oohahhPaulMillar, Plymuff Bloobird, stickywicket, Welsh Exile and 225 guests

Disclaimer :
The views and comments entered in these forums are personal and are not necessarily those of the management of this board.
The management of this board is not responsible for the content of any external internet sites.