Shrimpsvoices

just seen details of annual accounts for the club published on the Visitor web site,sorry do not know how to do a link!

thanks seasider

In depth, incisive article that - and I thought local journalism was dead and buried

Any reduction in the losses over a year compared with the previous figures are welcome and a credit to all those involved who have made it posssible.

Let's hope that with a new Commercial Manager now insitu that the monies from Corporate income will improve and be an influence in ensuring that the losses over coming seasons are reduced even further.

I sence a new air of optimism throughout the club which hopefully will ensure our clubs survival long into the future.

Worth highlighting, even though the article does make it clear, that these financial results are for the period ending May 2016. This is before the ownership debacle and the non-payment of wages.... so Adam Wilde won't have any impact on the financial results for the period ending May-17 which are next to be published.

Interesting last paragraph 'RE PMG and the contingent liability.

Can someone explain this 'contingent liability' in simple terms please?

If you read the definition of it, you will be even more confused

In very simple terms its a provision in the accounts for an event/expense that may or may not happen sometime in the future.

Christies Child wrote:Any reduction in the losses over a year compared with the previous figures are welcome and a credit to all those involved who have made it posssible.

Two main reasons:-

Income up due to selling Jack Redshaw.
Wages down due to smaller squad.
Most other things look about the same.

KenH wrote:

Christies Child wrote:Any reduction in the losses over a year compared with the previous figures are welcome and a credit to all those involved who have made it posssible.

Two main reasons:-

Income up due to selling Jack Redshaw.
Wages down due to smaller squad.
Most other things look about the same.

And the squad is up again this winter!

Director pay of 40k well I don't think we have that expense anymore