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+----- Thread: Accounts Released (/showthread.php?tid=7891)
Accounts Released - Devongone - 10-12-2018
The accounts for the financial year ending June 30, 2018 have been released.
CFC 2001 Limited closed the year reporting a loss of £1,061,270 compared to a loss in the previous year of £506,735.
Turnover was down by £756,170 on the previous year. Cumulating from reduction of gate and season ticket revenue of £134,602, TV and Football Awards monies of £302,899, Commercial Income was lower by £138,735 and other income down by £334,236.
Transfer monies received increased by £154,302.
Employment costs were reduced by £291,147 in the 12-month period.
Debenture loans increased by £1,287,948 with Dave Allen injecting £1.3 million into the company in the year. There was no interest payable to Mr Allen or A&S Leisure during the year.
Former directors were paid £229,418 within the year, with interest only accruing to one.
The rent and interest due from the Community Trust increased in the year by £20,684 to a balance of £127,159.
The full set of accounts will be posted out to the Shareholders at least 21 days before the AGM to be held on Monday, January 14, 2019.
There aren't really any good reasons to buy us are there?
RE: Accounts Released - Dancingwilldoit - 10-12-2018
This year will be even worse. Not sure how this thread fits in with the other one you just started Dev, if we are losing money where do we get the funds to bring in new signings? If we off load a few it reduces the wage bill but it still doesn't mean there will be money to spend.
RE: Accounts Released - SaltergateBorn - 10-12-2018
Yes, I saw the announcement on the club website earlier this afternoon.
It doesn`t actually suggest that DA is the devil incarnate that some make him out to be and shows the depth of the financial mire we`re in right now. The full accounts will make even more interesting reading, I suspect.
RE: Accounts Released - Devongone - 11-12-2018
(10-12-2018, 20:29)Dancingwilldoit Wrote: This year will be even worse. Not sure how this thread fits in with the other one you just started Dev, if we are losing money where do we get the funds to bring in new signings? If we off load a few it reduces the wage bill but it still doesn't mean there will be money to spend.
It doesn't really fit at all ....... but we HAVE to sign some players if six more are going and three are injured. That's why I'm not looking for Barcelona cast-offs. These accounts place us at the Frickley end of the market, but if we keep getting worse and going down surely our financial position will continue to decline .....
It's the same old truth. Our debt is to MA. He helped create it. It ties us to him and him to us. He's our saviour and our torturer at the same time. He could become our executioner too if he wishes. He's outgrown us, but packing us in a box and handing us over to the local nursery isn't viable. Somehow I don't see it ending as well as Toy Story.