Bandstand Posted November 2, 2018 Share Posted November 2, 2018 1 hour ago, Dons_1988 said: Their accounts aren't that bad lads, sorry to disappoint. Did you do the old rangers accounts? 0 Quote Link to comment Share on other sites More sharing options...
Dons_1988 Posted November 2, 2018 Share Posted November 2, 2018 13 minutes ago, Bandstand said: Did you do the old rangers accounts? What's your expert opinion on them then mate? 0 Quote Link to comment Share on other sites More sharing options...
Bandstand Posted November 2, 2018 Share Posted November 2, 2018 10 minutes ago, Dons_1988 said: What's your expert opinion on them then mate? Don't have an expery opinion,but posting a loss of 14 million and then releasing these accounts after a full programme of games had staryed tells me there isnt anything good in them And any set of accounts that material going concern in them unless external finance is sourced can hardly mean good things for a business that has posted losses every year of its existence 0 Quote Link to comment Share on other sites More sharing options...
Dons_1988 Posted November 2, 2018 Share Posted November 2, 2018 3 minutes ago, Bandstand said: Don't have an expery opinion,but posting a loss of 14 million and then releasing these accounts after a full programme of games had staryed tells me there isnt anything good in them And any set of accounts that material going concern in them unless external finance is sourced can hardly mean good things for a business that has posted losses every year of its existence Whilst they aren't the greatest set of accounts in the world there isn't anything immediately alarming in there other than the requirement for external funding. Even then, they appear to have sufficient assurances from investors that the money will be available (the auditors will have made sure the investors confirmed that to them directly). Of course it all changes if they demand their money back or the funding dries up but it wouldn't appear that it is going to. There is nothing really interesting or exciting about these accounts at all. 0 Quote Link to comment Share on other sites More sharing options...
Jimboyjones1976 Posted November 2, 2018 Share Posted November 2, 2018 5 minutes ago, Bandstand said: Don't have an expery opinion,but posting a loss of 14 million and then releasing these accounts after a full programme of games had staryed tells me there isnt anything good in them And any set of accounts that material going concern in them unless external finance is sourced can hardly mean good things for a business that has posted losses every year of its existence 5 minutes ago, Bandstand said: Don't have an expery opinion,but posting a loss of 14 million and then releasing these accounts after a full programme of games had staryed tells me there isnt anything good in them And any set of accounts that material going concern in them unless external finance is sourced can hardly mean good things for a business that has posted losses every year of its existence 0 Quote Link to comment Share on other sites More sharing options...
weirdcal Posted November 2, 2018 Share Posted November 2, 2018 Whilst they aren't the greatest set of accounts in the world there isn't anything immediately alarming in there other than the requirement for external funding. Even then, they appear to have sufficient assurances from investors that the money will be available (the auditors will have made sure the investors confirmed that to them directly). Of course it all changes if they demand their money back or the funding dries up but it wouldn't appear that it is going to. There is nothing really interesting or exciting about these accounts at all.I think the devil is in the details. The last year accounts had new oasis to cover the funding shortfall and that was apparently dealt with via close brothers instead. At the moment it just makes investing into the company look like a very bad idea 0 Quote Link to comment Share on other sites More sharing options...
Dons_1988 Posted November 2, 2018 Share Posted November 2, 2018 1 minute ago, weirdcal said: I think the devil is in the details. The last year accounts had new oasis to cover the funding shortfall and that was apparently dealt with via close brothers instead. At the moment it just makes investing into the company look like a very bad idea Close Brothers was a short term loan that has been repaid. New Oasis are still covering the shortfall in funding otherwise. 0 Quote Link to comment Share on other sites More sharing options...
weirdcal Posted November 2, 2018 Share Posted November 2, 2018 Close Brothers was a short term loan that has been repaid. New Oasis are still covering the shortfall in funding otherwise.So new oasis say they will cover funding shortfall then a close brothers loan was taken instead and now new oasis say they will cover shortfall again. Amazing. 0 Quote Link to comment Share on other sites More sharing options...
MEADOWXI Posted November 2, 2018 Share Posted November 2, 2018 The next set of accounts willbe the interesting ones. The ones that include the UEFA money for this season, as it is looking as about as good a year financially in Europe as they will get. When that is included if they are continuing to lose money and being propped up by external funding they will have to acknowledge that the set up just doesn't work...or die again 0 Quote Link to comment Share on other sites More sharing options...
Darren1872 Posted November 2, 2018 Share Posted November 2, 2018 Next set of accounts will also show the 11 million spent in transfers. 1 Quote Link to comment Share on other sites More sharing options...
Bandstand Posted November 2, 2018 Share Posted November 2, 2018 5 hours ago, weirdcal said: I think the devil is in the details. The last year accounts had new oasis to cover the funding shortfall and that was apparently dealt with via close brothers instead. At the moment it just makes investing into the company look like a very bad idea Invest? Who in their right mind would invest in a startup company that has posted losses for the first six years of its existence 0 Quote Link to comment Share on other sites More sharing options...
Drew Brees Posted November 2, 2018 Share Posted November 2, 2018 Whilst they aren't the greatest set of accounts in the world there isn't anything immediately alarming in there other than the requirement for external funding.Just like they've did for the last five seasons or so. Every single year they've posted a loss (in the millions) and every single year their auditors have posted an accounts warning, stating that their ability to continue to operate as a going concern, was completely dependent on further investment (crisis bail out loans) from either their parent entity or other investors. Nothing alarming at all. 0 Quote Link to comment Share on other sites More sharing options...
weirdcal Posted November 2, 2018 Share Posted November 2, 2018 Invest? Who in their right mind would invest in a startup company that has posted losses for the first six years of its existence Insane peopleForeign investors who are trying to launder money?Senile bus company owners ?Sporting goods retailers with a history of investing in football companies 0 Quote Link to comment Share on other sites More sharing options...
SilverWolfe Posted November 2, 2018 Share Posted November 2, 2018 Close Brothers was a short term loan that has been repaid. New Oasis are still covering the shortfall in funding otherwise.You're wrong with your close brothers comment. I also have to say I disagree with your opinion on the accounts being ok as well 0 Quote Link to comment Share on other sites More sharing options...
steelmen Posted November 2, 2018 Share Posted November 2, 2018 Must be some amount of money the rangers board have. To keep pumping millions in to keep the lights on and not to expect it back, just convert it to shares that are pretty much worthless.Wish I had a bottomless pit of money! 0 Quote Link to comment Share on other sites More sharing options...
Drew Brees Posted November 2, 2018 Share Posted November 2, 2018 They’re going baws oot to stop Celtic getting anywhere close to the 10. 0 Quote Link to comment Share on other sites More sharing options...
The DA Posted November 2, 2018 Share Posted November 2, 2018 6 hours ago, Dons_1988 said: Close Brothers was a short term loan that has been repaid. New Oasis are still covering the shortfall in funding otherwise. This will be the same NOAL that King swore to the court he had no control over? If the day comes that King can't spend other people's money, he'll wind Rangers up rather than putting in significant amounts of his own savings. IMHO. These accounts are dreadful. You can almost understand the early over-spending, the fear of not getting promoted each season. But, for the losses to increase once they'd settled into the top league is shocking. If their losses had decreased year on year, you'd be thinking there was some kind of plan in place and the losses would eventually be capped but, at the moment it's like a Martingale betting system with the stakes having to increase each season. Even NOAL will run out of cash to plug the leaks eventually. Are you sure the Close Brothers loan was repaid? Note 17 shows £1.2M outstanding and specifically says it's for the same assets as the CB loan. It may have been repaid since but then it comes out of the 2019 accounts. 0 Quote Link to comment Share on other sites More sharing options...
SilverWolfe Posted November 2, 2018 Share Posted November 2, 2018 This will be the same NOAL that King swore to the court he had no control over? If the day comes that King can't spend other people's money, he'll wind Rangers up rather than putting in significant amounts of his own savings. IMHO. These accounts are dreadful. You can almost understand the early over-spending, the fear of not getting promoted each season. But, for the losses to increase once they'd settled into the top league is shocking. If their losses had decreased year on year, you'd be thinking there was some kind of plan in place and the losses would eventually be capped but, at the moment it's like a Martingale betting system with the stakes having to increase each season. Even NOAL will run out of cash to plug the leaks eventually. Are you sure the Close Brothers loan was repaid? Note 17 shows £1.2M outstanding and specifically says it's for the same assets as the CB loan. It may have been repaid since but then it comes out of the 2019 accounts.CB don't technically provide loans, they are providing a finance leasing service to Rangers. They buy the assets and then lease them to Rangers. The outstanding balance to CB is the £1.2m you mentioned above. 0 Quote Link to comment Share on other sites More sharing options...
steelmen Posted November 2, 2018 Share Posted November 2, 2018 Nope not having that, it’s an overdraft.Honest Dave told us so! 0 Quote Link to comment Share on other sites More sharing options...
Gaz FFC Posted November 3, 2018 Share Posted November 3, 2018 Not only will the April 2019 accounts most likely be a fucking shambles with the transfer fees paid and the wages to these players including Stevie Gee and his staff.......but if Rangers haven't stopped Celtic getting to 8 In a row are they just gonnae increase that spending to stop 9 and 10? Even if they did spend big won't Celtic pretty much go baws oot knowing how close they are? If Celtic get to 10 In 2021 and Sevco are sat there with huge piles of debt having failed to stop Celtic doing the 1 thing they were desperate to do....then what now for the newco? Surely King and his "investors" aren't gonnae throw cash at stopping 11,12 or 13 are they? 2 Quote Link to comment Share on other sites More sharing options...
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