BFC accounts 2018

The accounts for 2018 are filed at Company's house and show the club at the end of May 2018 in a pretty good financial position.

The summary position is that the club has around £9.3m of assets. This was pretty much revealed in the last set of accounts which showed the £6.3m loan to Patrick being replaced with equity share capital. So the club is debt free.

Over the course of the year to May, excluding player trading, the club lost around £1.4m. Revenue of £14m and costs of £15.4m. The profit from player trading was £1.2m which brings the loss down to around £0.2m for the year.

Post the year end the club made a further £3.9m from player trading. However this will need to offset the substantial fall in football league distribution which made up over half of the club's revenue. For those not already bored senseless there's a bit more detail below:

Over the year the club turned over £14m, a reasonable increase on the previous year of £1.5m. The £14m was made up broadly of £8m Football league distribution, £4m matchday revenue and the remaining £2m a mix or merchandise, sponsorship and the like.

Cost for the year also increased to £13.2m with a further £2.2m in admin costs resulting in the trading position (ex player trading) being a loss of £1.4m. As mentioned previously player trading was a profit of £1.2m

I'll have a fuller look later today but need to do my day job.

 

Thanks for sharing.

 

Thanks for that ARC. If you find any other interesting facts, I would like
you to share them as well please. Looks very much as though our new owners
are running the Club on the right lines with the aim of attempting to get to a
position where we are eventually constantly in the black. With all the debt " swilling" around
in the game, surely the FA could hold us and others in a similar financial position
in a very good light and could cite us as an exemplar as to how a professional
Football League Club should be run.? Having said that , I doubt that they will
however.

 

Interesting that although revenue increased by £1.4m, that cost of sales increased from £10.937m to £13.196m, meaning gross profit fell by around £1.35m.

Admin expenses also increased by around £480k

Then you have the considerable fall in net player sales. From £12.449m in 2017 to £1.227m this last financial year.

Interestingly wages rose from £7.853m to £9.650m with staff numbers increasing from 211 to 240.

Contingent liabilities is interesting too, depending on outcomes, some contracts for player purchases could see a maximum liability of £3.27m. Curious to know what the bonuses are and for who. Probably a basis of promotion, and/or certain number of appearances.

Also says post balance sheet events, we generated £3.855m from player sales. So that's going to be Bradshaw, Potts and Moncur maybe, depending what the cut off of accounts production and sign off.

Decent position, but very much worth noting the significant jump in costs that led to a loss on the year befores general activities excluding player turnover and trading.

Oh, and whoever called off the accounts, missing a comma in note 7.... shame on you!

 

It depends on when they report. Football clubs tend to report right at end of the legal requirement, so considering over £3m of sales occurred which accounts for nearly a quarter of the clubs turnover, I wouldn't consider that unusual.

 

Maybe the FA / Football League should do something to reward clubs who can balance the books responsibly.

One idea wold be for a financial payment to be made to each club towards their youth / academy setups for each year they were classed as meeting the financial targets, something along those lines.

or

Maybe allow those that do with being able to do business in wider transfer windows. Just an idea, not sure how it would work though based on not many clubs would be able to participate, unless it includes worldwide and not just our transfer window.

 

But why would you mention anything that happened after the final date Companies House are interested in? Those sales belong to the next financial year.

 

totally agree with that mate.

 

Also what about a points reward system... Break the rules, automatically start the next season with X number of points deducted depending on the scale of overspend...Flip side of the coin, could be start with plus X number of points.

Nothing silly but maybe upto +6 points max..

Either that or concentrate on the offenders everybody else starts level, offenders to be punished depending on scale of offence upto -15 points.

 

cannot see that happening somehow.

 

I doubt it would include transfers 8 months after the end date for the period.

Will be Roberts and Macdonald.

 

Or the weak turnips could actually punish clubs properly for breaking ffp which will never happen as they are a laughing stock

 

Its accounting principle to mention post balance sheet events of a material nature. £3m of transfer fees post year end is a material amount based on our turnover.

 

McDonald went to Hull in the financial year (Jan 18), Roberts at the beginning of the year (June 18).

The events mentioned must have occurred after the financial year end which is 31st May 2018. Only significant sales have been Bradshaw and Potts. Maybe some nominal fee for Moncur too.

 

My apologies. Didn't see you say "Post balance sheet events" for some reason.

 

If it is just Bradshaw, Potts and Moncur... £3.855m. That's really not bad business at all for those 3.

 

That will be Whitey’s salary then

 

Those videos must take some editing!

 

Has sell on fees anything to do with that money for Jackson etc and what about knassmulner, Pearson and Mallen and that?