Financial Results

To add to this Accrington Stanley have submitted their accounts today. Here are their employee numbers.

 

Because I agreed with you , why waste your time trying to confirm it? Perhaps read it again?

 

As someone in the profession, I look forward to the release of the accounts each year to get some insight into the financial position of the club but then am equally embarrassed at the fact they don't even comply with the disclosure requirements. I mean we have an insolvent Balance Sheet and don't even have a going concern accounting policy note explaining why we consider the business to be a going concern!

 

Companies House is a joke. You can back date share transfers and even share classes well beyond the deadlines, and literally no PSC is filed within 14 days as required.

I once sent and e-mail to CH asking why a company which qualifies as Medium was sending in small unaudited accounts and the response I got was that they do not check them they simply put them on the public record and invite people to raise issues.

 

Reminds me of the following accounting policy I saw a number of years ago...

 

I remember seeing that at the time. It pretty much sums up the thoughts of anyone who have dealt with CH in the past.

 

I used to be a shareholder in the dim and distant past and attend the shareholders meeting but I don’t recall full details of accounts being released for supporters. The accounts under Rhodes and Lawn were very superficial but we do get a review nowadays. This from the COVID season when we had no fans.

 

Why? Not interested?

 

Interesting to compare some of the money we were up against last season, in Wrexham's accounts for last season they made a turnover of £26.7m which allowed them a wage budget of £11m. They've also paid off all of the loans from their owners so they are now debt free which is quite an achievement. What is amazing is that over 52% of their revenue came from outside the UK.
https://www.walesonline.co.uk/sport/football/football-news/wrexham-ryan-reynolds-rob-mcelhenney-31286635

 

The huge problem for Wrexham though is that it's not sustainable. How many Americans will be interested once they aren't walking through the divisions? Let's be honest, the money needed to compete, even at the top end of the champ could well be a step too far for the Hollywood couple once they see the losses on the balance sheet.

 

That's why I said "the problem for Wrexham" ....

 

What kind of budgets do Championship clubs generate?

 

Well the 3 relegated teams received just short of £50M in parachute payments alone for this season plus former PL side Leeds who weren't promoted straight back and received just over £40M.

 

Monopoly money

 

For the 22/23 season Championship clubs had a combined turnover of £750m so an average of just over 31m per club. Getting into the Championship opens up a lot of extra money with increased payments from the Premier League and increased TV revenue. The biggest issue with the Championship is out of control wages are, the 22/23 season was the first season since 16/17 when turnover was higher than wages.

This article by Deloitte covers the Championship finances well as well as a bit about league 1 and 2. https://www.deloitte.com/uk/en/services/financial-advisory/research/annual-review-of-football-finance-football-league-clubs.html

 

Sustainability is a huge issue for the majority of clubs, i don't know what the latest figure is but a year or so ago about 50 of the 92 were technically insolvent and fully reliant on owner funding, in the Championship it is something like 75%. With Wrexham they are bringing their losses down and they still made about £13m from the UK which will only go up. What they are doing well is they've got the off field sorted out with buying the stadium, getting the temporary stand in place and plans in place for a new kop stand which will only help them financially