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

BBC

02/06/2021



BBC Wales report on 2020 Cardiff City accounts



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

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

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.

The same bbc thst reported ",hundreds" attend freedom rally in london? What do people expect??

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...?

Oh, hang on...

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.

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!!

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

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

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.