Headline Figures

[Penk Wolf]

http://www.wolves.co.uk/news/article/wolves-publish-annual-accounts-2266869.aspx

 

[Paul]

Headling ??

 

[Penk Wolf]

Not sure what you mean.

 

[thehistorymakers]

Thanks for that Penk.

 

[Kenny]

E&S Headline - Wolves post £8.5m profit
Followed by - Wolves has revealed it made a loss of £1.7m

That's going to confuse a lot of people is that

 

[owdill]

Well I am thick from gornal and am confused.com someone explain please

 

[darlowolf64]

Well I am thick from gornal and am confused.com someone explain please

"In this year to May 2014, the Club incurred an actual pre-tax loss of £1.7m. However, due the release of a £10.2m provision a final pre-tax profit of £8.5m was declared."
Read more at http://www.wolves.co.uk/news/article/wolves-publish-annual-accounts-2266869.aspx#5v3pdzzUudLUtvWF.99

 

[machin05]

What's that 10.2m then?

 

[owdill]

Thanks darlo got it now

 

[Penk Wolf]

What's that 10.2m then?

Sales of, loan fees and wages of the 'bomb squad'.

 

[darlowolf64]

Money set aside from the previous season in relation to the unwanted players?

 

[Penk Wolf]

Money set aside from the previous season in relation to the unwanted players?

Yep.

 

[PuntsWolf]

Am I right in thinking that of the £27m we had written off, we used £17m and therefore haven't saved that much on contracts as we had sold a fair few of the players and got fees, such as Henry and Hennessey and we have had quite a few of those players out on loan for a large portion.

I may be completely wrong, I know nothing about this stuff.

 

[nimrod]

not money so much as a P&L/balance sheet provision made in 2013.

Following relegation to Sky Bet League One during the previous season, and as a result of restructuring, exceptional one off provisions of £27.5m were made for onerous player contracts and player impairment values in the financial year to 31st May 2013.

so £27.5m provision made for onerous contracts in 2013 and if players are the sold or buy out their contracts etc, they can release that provision back to the P&L a/c as its no longer needed. of that £10.2m was written back in 2014.

 

[nimrod]

Am I right in thinking that of the £27m we had written off, we used £17m and therefore haven't saved that much on contracts as we had sold a fair few of the players and got fees, such as Henry and Hennessey and we have had quite a few of those players out on loan for a large portion.

I may be completely wrong, I know nothing about this stuff.

depends, there may still be working out some of those contracts after the end of these accounts - eg Roj didn't get sorted until current year so there's probably some of that £17m still on the balance sheet in these accounts. some of it of course was paid in wages during the course of 2014 and beyond.

 

[Deutsch Wolf]

Operating loss is always the most important thing. Anyone can fiddle figures. In real terms we've lost about £4m over the two seasons outside the PL, we might lose £1m or so this year.

 

[From Distant Shores]

I wouldn't even trust that operating loss, the cash flows will give a better picture. There is much truth in the old accountants saying "Profit is opinion, cash is fact".

 

[Penk Wolf]

I wouldn't even trust that operating loss, the cash flows will give a better picture. There is much truth in the old accountants saying "Profit is opinion, cash is fact".

Our as the saying goes, 'turnover is vanity, profit is sanity and cash is reality.'

 

[Langers]

http://www.expressandstar.com/sport.../kenny-jackett-we-wont-live-beyond-our-means/

Vaguely related I guess, but FFS - some of the comments..... Ugh.

 

[Dublin Drummer Wolf]

http://www.expressandstar.com/sport.../kenny-jackett-we-wont-live-beyond-our-means/

Vaguely related I guess, but FFS - some of the comments..... Ugh.

I actually dont think they're bad at all. I've seen waaaaaaay worse on that site. Seems to be a reasoned response, we are building from within and most seem to accept that