The St. Mirren FC 2023/24 thread

[Div]

On an unrelated point I'd really expect the accounts for the year ended May 2022 to be issued to shareholders any day now.

The AGM has to be held by the end of January as per the constitution of the club and I *think* shareholders have to receive the accounts 2 weeks before the AGM.

There's no real cause for concern with the dates, last year the accounts were distributed on 11th Jan for example, AGM was announced on the 12th and took place on 27th but it's getting very close so I'd expect them to be out by the end of the week.

I do also note that the club has not filed their confirmation statement which was due on 7th December. This is a run of the mill process that was previously called an Annual Return. It just asks the company to confirm bits of information (as the name suggests!) like directors, shareholders with significant control etc...

There's no penalty for filing this late, and again it's not a cause for any concern, just a bit strange that they haven't done it.

There is of course a penalty for late submission of the accounts, in St.Mirren's case these must be filed with Companies House by end of Feb.

 

[FTOF]

6 hours ago, Div said:

I think it depends on the nature of the offence.

Violent Conduct I think is 2 first team matches for example, so that would apply to all competitions, whereas if you picked up 2 yellows for instance or tripped the 6 yellows limit, then that suspension would only apply to League games.

I'm pretty sure that's right anyway.

Ethan and Dunne will both have served their suspensions after the Hearts game on Friday anyway and Fraser should be good for the cup game as his 2nd game will be the Celtic one in midweek.

Baccus suspension will be league only and I suspect he will miss either Celtic away on 18th or Motherwell at our place on 28th.

Suspension starts 14 days after the sixth booking is incurred. So should kick in for the Motherwell game.

[Coventry Saint]

4 hours ago, Div said:

On an unrelated point I'd really expect the accounts for the year ended May 2022 to be issued to shareholders any day now.

The AGM has to be held by the end of January as per the constitution of the club and I *think* shareholders have to receive the accounts 2 weeks before the AGM.

There's no real cause for concern with the dates, last year the accounts were distributed on 11th Jan for example, AGM was announced on the 12th and took place on 27th but it's getting very close so I'd expect them to be out by the end of the week.

I do also note that the club has not filed their confirmation statement which was due on 7th December. This is a run of the mill process that was previously called an Annual Return. It just asks the company to confirm bits of information (as the name suggests!) like directors, shareholders with significant control etc...

There's no penalty for filing this late, and again it's not a cause for any concern, just a bit strange that they haven't done it.

There is of course a penalty for late submission of the accounts, in St.Mirren's case these must be filed with Companies House by end of Feb.

 

I saw we are recruiting for an accountant. Wonder if a staff change/turnover has contributed to the delay in some small way.

[Div]

41 minutes ago, Coventry Saint said:

I saw we are recruiting for an accountant. Wonder if a staff change/turnover has contributed to the delay in some small way.

Possibly but the accounts will long since have been completed. There's no delay as such, as they were issued on Jan 11th last year.

Let's see if they appear by the end of the week!

 

[Friskysteed]

I see we have sold out for the Hearts game on Friday. Does anyone know how many tickets we were allocated

[glenburn bud]

1 hour ago, Friskysteed said:

I see we have sold out for the Hearts game on Friday. Does anyone know how many tickets we were allocated

I’m told 900 in total but not sure if that’s accurate.

Edit to add its appears that the allocation was 600 which is a fucken joke.

Edited January 11, 2023 by glenburn bud

[TPAFKA Jersey 2]

40 minutes ago, glenburn bud said:

I’m told 900 in total but not sure if that’s accurate.

Edit to add its appears that the allocation was 600 which is a fucken joke.

And yet that bottom section of the Roseburn on our side will be empty. 
commercial madness by Hearts. 

[SS77]

1 hour ago, glenburn bud said:

I’m told 900 in total but not sure if that’s accurate.

Edit to add its appears that the allocation was 600 which is a fucken joke.

I don’t have an issue with them giving us 600 or whatever the number is - they are doing the right thing by looking after their own fans and I’d hope we would do the same if we had the fan base for it.

[glenburn bud]

4 hours ago, SS77 said:

I don’t have an issue with them giving us 600 or whatever the number is - they are doing the right thing by looking after their own fans and I’d hope we would do the same if we had the fan base for it.

I agree but if the section below our allocated section is empty then it won’t be used by home fans, so why not give us more tickets for that section.

[SS77]

59 minutes ago, glenburn bud said:

I agree but if the section below our allocated section is empty then it won’t be used by home fans, so why not give us more tickets for that section.

Completely forgot they had a bottom tier

[Div]

Well the accounts are out. We lost £1.6m and that was despite bringing in £435K for Goodwin and McGrath.

You can download a copy here;

https://www.blackandwhitearmy.com/downloads/accounts-may2022.pdf

[elvis]

Is most of that the government loan

[FTOF]

So have we gone out of business or not?

[Div]

7 minutes ago, elvis said:

Is most of that the government loan

We borrowed £1.7m from the Scottish Government, we've pretty much spent it all.

We still had £970K in the bank in May 2022.

[FTOF]

3 minutes ago, Div said:

We borrowed £1.7m from the Scottish Government, we've pretty much spent it all.

We still had £970K in the bank in May 2022.

I know. I've read the accounts.

As I've said all along, they don't make good reading, but they're nowhere near as bad as the shit stirrers were making out when e-mails were being sent out to get a certain individual onto the SMISA board.

[elvis]

So taking in to account those figures we are hardly in a mess .

[aldo_j]

10 minutes ago, FTOF said:

I know. I've read the accounts.

As I've said all along, they don't make good reading, but they're nowhere near as bad as the shit stirrers were making out when e-mails were being sent out to get a certain individual onto the SMISA board.

Yeah, not great reading but would be keen to understand the true costs of training ground work. Also, the number of staff jumped considerably so another I’d be questioning.

However, not many SPFL clubs will turn a profit over the last couple years. Think the board need to get better at communicating forward plans, etc. things like ‘grow commercial revenue’ are a bit woolly.

[Hendo]

18 minutes ago, FTOF said:

I know. I've read the accounts.

As I've said all along, they don't make good reading, but they're nowhere near as bad as the shit stirrers were making out when e-mails were being sent out to get a certain individual onto the SMISA board.

I think having a yearly loss of £1.6 million and a staff wages to turnover ratio of over 90% is significant cause for concern. 

Edited January 11, 2023 by Hendo

[Buttocks Brown]

As a very short summary, the loss is due to us spending all of our £1.7 million loan from the government (plus a bit more) in 12 months?

That debt will be repaid, interest-free, between now and 2042. Just about every club in the top flight is in the same boat (in fact most borrowed more than us: https://www.gov.scot/publications/foi-202100215652/ )

Putting that to one side, we have nearly £1,000,000 in the bank and are on course to break even from 23/24? 

[Billy_Gunn]

I’ll be staying far away from social media for a few days I think. Mr Doak and the other tinfoil bunnet wearers will be foaming from their keyboards shortly.