Are we using the balance carried down method for accruals? To comply with IAS.

The club has done exceptionally well making a profit for 6 years running, but they have also been saying that they would be building a custom training facility for the club over the same amount of time. Why havent they taken a hit in the profits to provide this? Having seen Wigan and Leeds facilities on sky over the years I think a club like ours needs something similar instead of a shared base such as Ionians. I'm sure that this would help improve us as a team and club.

To be fair (and you will know my thoughts on the BOD if you've been reading for a while), we were building at Hull University and that went by the way side, then we had agreed with the NHS and Hull City Council to build the facilities at The Boulevard and we all know that Minns minced all over that.

as a business i think the current BOD prove their point of existence year in year out... profitability makes life much more comfy for the club and fans

But Mr Allmas not happy because they are taking money out of the club or so he implied anyway!

Because of course we must all remember that he would "never make money from sport"
he would merely buy Hull City, Rovers, The KC and so on and run it all as a non profit making organisation ha ha

No they haven't. Used Sadofsky's for a few years now.

Apologies for being wrong about the auditors
Shows how long it is since I last looked at the accounts

Amortisation of transfer fee's is done on a straight line basis over the life of the initial contract. Simple as.

As has been pointed out, the accounts are for Oct 2010 so the fee had only just become payable and Westerman became a Hull employee from Nov 10 onwards. The fee paid for Tansey would still have been carried at a net book value at that time though.

If they are turning over less than £6.5m they are theoretically exempt from Audit (not sure if they took the exemption).

There are far too many ways to take a slice of the cake without it being in the form of a dividend

You're right, but value probably £15k ish? Think the fee was only £30k.

Hence at NBV.

Am i correct in thinking that last year was the first one when we havent had to pay off directors loans?

Rule said last year we don't owe the directors anything. In a financial sense, anyway. Obviously we owe them big time for saving our club, getting us into a sustainable financial position and winning the Challenge Cup.

So therefore profits are down even more than the 50k reported?

Why would profits be down?

Paying off the loans would not hit the p/l

Only loan interest would be in the P&L

IIRC, Leeds posted a turnover of around £10m last year. I'd expect ours to be at least half of that.

£2m from ticket sales throughout the year
£1m from merchanside
£1m from Sky rights
£1m from sponsorship
Rest from prize money, etc?

Can't be too far off.

Sponsorship will be nearer 3/4 mil. imho

Dont ask me , im not a bean counter



Just though if we made 250k profit per year, but then decided to pay 200k off loans, for example, so net profit is only 50k.

=#FF0000Hull have once again included their players as ‘intangible assets’ on their balance sheet, placing a value of more than £1m on their playing squad, as part of total assets of £1.42m.
It is a move which auditors Sadofskys stress is not in accordance with financial reporting standards.
However, FC have always justified including players as assets due to the huge impact they have on the success of the business in terms of results on the pitch, stressing they do not impact on profits or losses shown in the accounts each year.

You really are quite dense, aren't you?

So we made a profit still, thanks for clearing that up

it's been irrelevant since we started doing it, which was before your shower were in SL.

I am sure if Companies House or HMRC had an issue, we'd have had a fine and changed how we do things.

Just think, your losses and debt are nearly 4 x the value of our assets!

Can you show proof of this ? , or are you all still smarting at Mr Allam's gift

The clue is when they can't spell their user name properly