Profitable Football?

[Trapdoor]

Not likely!

http://www.bbc.com/sport/football/35714830


Hugely misleading Beeb article based on our filing at companies house.

The metrics upon which a football clubs financial performance should be based need to be documented in conjunction with a shortened financial statement.

Our costs are barely down, our net book value is massively down, our year-on-year tangible assets are down 150k... and crucially our forward projected income is down. Couple that picture with, lower gates and decreased income and the picture becomes even less rosy.

Unfortunately an article written about financial prudence in football management will not get as many clicks on a news website so they don't write about that.....

 

[Kenneth E End]

Its not really worth posting a profit of that size is it? Remember about £325,000 will go straight into the taxman's back pocket! Spend it!

 

[AtaturkOzgutson]

Its not really worth posting a profit of that size is it? Remember about £325,000 will go straight into the taxman's back pocket! Spend it!

If any club know about this kind of thing...

 

[Deepcut Cobbler]

Did I see last night that Pompey have posted a £2,000 profit? I didn't see over what period though...

 

[Trapdoor]

Thats good for them, they havent had any windfall so I suspect that is done off their own backs? They are starting to play more as a team these days as well now. Good to see them rebuild.

 

[BeesKnees]

Oxford have posted £2.4m loss

 

[ThisTinpotLeague]

Who did we post it to? Wouldn't want that as you settle down to your cornflakes.

 

[Laker]

Its not really worth posting a profit of that size is it? Remember about £325,000 will go straight into the taxman's back pocket! Spend it!

If you've got losses from previous periods, which a lot of clubs do, then you can obviously offset those and pay tax on the remaining balance.

I think one off profits are fine, in the same way that one off losses are fine but I guess ideally you'd be breaking even over the long term, no?

 

[ThisTinpotLeague]

If you've got losses from previous periods, which a lot of clubs do, then you can obviously offset those and pay tax on the remaining balance.

I think one off profits are fine, in the same way that one off losses are fine but I guess ideally you'd be breaking even over the long term, no?

I would imagine most clubs are run by chairman with other business interests, and therefore they might surrender the losses to those companies and reduce the tax bills there?

 

[Bar Carousel]

Did I see last night that Pompey have posted a £2,000 profit? I didn't see over what period though...

That was for last years accounts, just published.

The profit margin would have been a lot more, but for an expensive maintenance programme of Fratton Park, and part costs for the building of our new training ground.

What a welcome relief to see our turn around finally taking shape, from a board managing the club sensibly. Perhaps Pompey can be see as a positive name in football after years as a bye-word for all that can go wrong.

 

[Laker]

I would imagine most clubs are run by chairman with other business interests, and therefore they might surrender the losses to those companies and reduce the tax bills there?

True. I wonder how many of these chairmen bring losses across from other companies to offset with their profits at their clubs.....

 

[ThisTinpotLeague]

The profit margin would have been a lot more, but for part costs for the building of our new training ground.

Shouldn't effect the profit whilst you're building it #accountantchat

 

[Bar Carousel]

Shouldn't effect the profit whilst you're building it #accountantchat

Our operating profit was about £350k i believe.

The £2k figure is what was left of it.

# i ain't no accountant - so god knows what means.