Frank conner Posted January 5, 2020 Share Posted January 5, 2020 So now I'm now part of a corrupt organisation?Angry? For calling out your use of a word best left in the past? That's not anger, that's just common decency, pal.I've never set foot in the 200 Club, nor knowingly stood next to the esteemed Scottydog. Sorry if that doesn't fit in with your Rothschildian view of the Raith Rovers support. 0 Quote Link to comment Share on other sites More sharing options...
Frank conner Posted January 5, 2020 Share Posted January 5, 2020 Our previous board consisted of at least one accountant, and John Sim is a former audit partner and Global CEO of one of the top 20 largest accounting firms in the world. Having accountants on the board or in charge doesn't stop you losing money. So who is to blame? The fans? 0 Quote Link to comment Share on other sites More sharing options...
Raith Against The Machine Posted January 5, 2020 Share Posted January 5, 2020 18 minutes ago, Frank conner said: So now I'm now part of a corrupt organisation? I'm not explaining two analogies to you in the same day. 1 Quote Link to comment Share on other sites More sharing options...
Frank conner Posted January 5, 2020 Share Posted January 5, 2020 I'm not explaining two analogies to you in the same day. You do realise what an accountant's jobs is don't you? 0 Quote Link to comment Share on other sites More sharing options...
CALDERON Posted January 5, 2020 Share Posted January 5, 2020 Don't think these figures tell us anything we don't already know. Not a situation that's going to turn around quickly, and the fact the defect is reduced at least shows us going in the right direction. 1 Quote Link to comment Share on other sites More sharing options...
Rovers_Lad Posted January 5, 2020 Share Posted January 5, 2020 1 hour ago, Michael W said: Our previous board consisted of at least one accountant, and John Sim is a former audit partner and Global CEO of one of the top 20 largest accounting firms in the world. Having accountants on the board or in charge doesn't stop you losing money. Previous boards have consisted of all of these along with businessmen,some good,some not so and bankers,I did say bankers 0 Quote Link to comment Share on other sites More sharing options...
Wee Sandy Posted January 5, 2020 Share Posted January 5, 2020 25 minutes ago, Rovers_Lad said: Previous boards have consisted of all of these along with businessmen,some good,some not so and bankers,I did say bankers You know the collective term for Bankers is, "A Wunch"...? 0 Quote Link to comment Share on other sites More sharing options...
steakngravy Posted January 5, 2020 Share Posted January 5, 2020 Eric 0 Quote Link to comment Share on other sites More sharing options...
Michael W Posted January 5, 2020 Share Posted January 5, 2020 1 hour ago, Frank conner said: 1 hour ago, Michael W said: Our previous board consisted of at least one accountant, and John Sim is a former audit partner and Global CEO of one of the top 20 largest accounting firms in the world. Having accountants on the board or in charge doesn't stop you losing money. So who is to blame? The fans? The blame rests with those who set the budgets. This is the case regardless of their former occupations. We all knew that we would make a loss the first season we were down and, realistically, that we would make another substantial loss last season. The amount of money lost is, in my view, unacceptable, but at least action had been taken. Perhaps those setting the budget were prepared to tolerate a loss? The key question, however, is: what were we aiming for in relation to the budget set? We took a hit the first time around and presumably did so last season too - where did we end up against the projections set? 0 Quote Link to comment Share on other sites More sharing options...
Brashy's Boots Posted January 5, 2020 Share Posted January 5, 2020 You do realise what an accountant's jobs is don't you?I'm sure he does. You, clearly, do not. 0 Quote Link to comment Share on other sites More sharing options...
Michael W Posted January 5, 2020 Share Posted January 5, 2020 34 minutes ago, Rovers_Lad said: Previous boards have consisted of all of these along with businessmen,some good,some not so and bankers,I did say bankers It is obviously unfair to lay the blame at Drysdale's door for RBS going down the shitter, but in my head that's exactly what happened. Probably blamed the customers as well. 1 Quote Link to comment Share on other sites More sharing options...
Zen Archer (Raconteur) Posted January 5, 2020 Share Posted January 5, 2020 Thankfully our bankers haven't been as bad as this one. 2 Quote Link to comment Share on other sites More sharing options...
Frank conner Posted January 5, 2020 Share Posted January 5, 2020 I'm sure he does. You, clearly, do not.I'm not the one losing money! Our club is so be worried. 0 Quote Link to comment Share on other sites More sharing options...
Frank conner Posted January 5, 2020 Share Posted January 5, 2020 It is obviously unfair to lay the blame at Drysdale's door for RBS going down the shitter, but in my head that's exactly what happened. Probably blamed the customers as well. So who's fault is it ? You don't lose hundreds of thousands of pounds and no one is to blame! To just write it off and say oh well it happens isn't good enough. 0 Quote Link to comment Share on other sites More sharing options...
Ro Sham Bo Posted January 5, 2020 Share Posted January 5, 2020 5 hours ago, Scary Bear said: Any accountants on here? How were the losses made up? How much was wages? How much was medical bills? Did depreciation of the pitch or Stadium in general figure in the losses? 5 hours ago, Raith Against The Machine said: I'm not an expert, but I believe with the (relatively) new rules on micro-company accounts, you'll see much less detail than you used to on the public accounts at Companies House. You'll be relying on the AGM for answers to questions like that. To be fair even the old style abbreviated accounts that were required to be filed with Companies House didn't provide much detail. A bit more information regarding the balance sheet but nothing relating to the profit & loss account. 1 Quote Link to comment Share on other sites More sharing options...
Ro Sham Bo Posted January 5, 2020 Share Posted January 5, 2020 One thing to note is that for once we have the accounts published well before the filing deadline. Which is rare for us, and probably most other football clubs. I suppose releasing the results during the Christmas holidays and after a big win the previous Saturday is as good a time as any... In reality the results for this current financial year are more relevant given the changes we've made to the footballing set up. 1 Quote Link to comment Share on other sites More sharing options...
Rovers_Lad Posted January 5, 2020 Share Posted January 5, 2020 (edited) What we are suffering from is a culmination of debts/losses from many many years ago and difficult to see a way out.Our current board and some previous boards have been farting against thunder We actually managed to make a loss the season the Rangers were in our league,along with a cup tie against Celtic and a play off games with Hibs.That must take a bit of doing Not saying for one minute its a route I think or would like to see us go down but Livi,twice I think,Dundee,twice I think,Dunfermline,Motherwell,Hearts have all been in admin and all playing in higher leagues and seem to be doing okayish Edited January 5, 2020 by Rovers_Lad 0 Quote Link to comment Share on other sites More sharing options...
TxRover Posted January 5, 2020 Share Posted January 5, 2020 Eighth place in the Championship was worth 200k, around 115k above what we earned for third in League One last year. Add the increased gate income, and we would likely have been in striking range of break even, even allowing for a modest salary cost increase. Further Cup wins will improve our payout accordingly too this year, along with about half the team on lower pay rates. 0 Quote Link to comment Share on other sites More sharing options...
raith1974 Posted January 6, 2020 Share Posted January 6, 2020 Like everyone else I have some concerns for the debt but there is a difference we do have assets signed for more than one season. Bowie will leave and will bring in a decent transfer fee, Hendry will also likely leave at the end of this season if we dont go up and again a few clubs will be looking to get him again a transfer fee and we also have Spencer under contract who if he wanted to go fulltime could certainly move up a league or 2 and again bring the club some money. I dont want to see any leave but the reality is they will but the club have had the sense to get them signed on longer deals stopping them just walking away. 0 Quote Link to comment Share on other sites More sharing options...
Scottydog Posted January 6, 2020 Share Posted January 6, 2020 8 hours ago, TxRover said: Eighth place in the Championship was worth 200k, around 115k above what we earned for third in League One last year. Add the increased gate income, and we would likely have been in striking range of break even, even allowing for a modest salary cost increase. Further Cup wins will improve our payout accordingly too this year, along with about half the team on lower pay rates. To increase revenue from cup runs it has to be in the Scottish as the TCW cup would only net about £20k even if we were to win it. Lose against Partick and if there's 2000 at the game (unlikely) and we get prize money of about £12k and a share of the gate maybe £6-7k? I agree with you, last season I'd reckon we would have had an increase of £300,000 to £350,000 had we been in the Championship, so we might have still made a loss but it would have been a lot more manageable. Talking of prize money if Arbroath can manage to finish above 8th they will rake in nearer to double what they got as Champions of L1, sitting pretty. 0 Quote Link to comment Share on other sites More sharing options...
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