Accounts 19-20 | Page 2 | Vital Football

Accounts 19-20

azz_88

Vital Squad Member
#23
I don’t think the Club have been in this position ever both on and off the pitch.

Eye watering stuff quite literally eye watering. Too many people to thank as everyone plays their part however big or small.

The Sincil Bank stars certainly aligned when Clive and his fellow directors came onboard.
Who would have thought that short-lived partnership with Everton 20(?) years ago would have led to such an important era in the club so long after. Butterfly effect and all that.
 

Scotimp

Vital Football Legend
#28
So it looks like we spent money from player sales on players?? i.e additions . Have I got that bit correct?
I quite like our intangible fixed asset that is called Anthony Scully.
Yes, looks like a profit of around £15,500 in the transfer market. It does raise the question of which players cost us £380,294; that is higher than I would have anticipated. The players signed permanently during the period 1 July 2019 to 30 June 2020 were:

Summer 2019 (after 1 July)
Jack Payne
Jorge Grant (undisclosed, also dependent on appearances and success for City)
Alex Bradley
Aaron Lewis
Ben Coker

December 2019
Zack Elbouzedi (undisclosed)

January 2020
Max Melbourne
Tayo Edun
Tom Hopper (undisclosed, reported to be £150,000 in Essex media)
Akeem Hinds
Charlie Andrew
Anthony Scully

Summer 2020 (prior to 30 June)
None
 

57harry

Vital Squad Member
#29
The relevant section is Intangible Fixed Assets:
additions £380,294
disposals £1,395,742 (including the £1m fee for the Cowleys)
The disposal of assets figure of (1,395,742) refers to the original costs that were intially capitalised ie. transfer fees,signing on fees ect. This asset value will be eliminated when the player leaves-this will include Michael Bostwick,Tom Pett,Neil Eardly,Frecklington,Josh Vickers and so on.It will also potentially include signing on fees that relate to Danny and Nicky Cowley plus other departed Management staff. The £1 million compensation figure for Cowley is not included in this amount.

The total transfer fees we received for players was £505,500-Toffolo would be the biggest part of that. The profit on transfers is £496,974 and is made up as follows :
£505,500 receipts less cost Disposals £1,395,742 plus depreciation written off on disposal £1,387,216
 
Last edited:

HoofGrantBrown

Vital Squad Member
#30
Yes, looks like a profit of around £15,500 in the transfer market. It does raise the question of which players cost us £380,294; that is higher than I would have anticipated. The players signed permanently during the period 1 July 2019 to 30 June 2020 were:

Summer 2019 (after 1 July)
Jack Payne
Jorge Grant (undisclosed, also dependent on appearances and success for City)
Alex Bradley
Aaron Lewis
Ben Coker

December 2019
Zack Elbouzedi (undisclosed)

January 2020
Max Melbourne
Tayo Edun
Tom Hopper (undisclosed, reported to be £150,000 in Essex media)
Akeem Hinds
Charlie Andrew
Anthony Scully

Summer 2020 (prior to 30 June)
None
Ben Coker must have been a big chunk of that amount. Invisibility cloaks don't come cheap.
 

domski2017

Vital Reserves Team
#31
I struggle to understand all the accounts but out of my depth in terms of the share sections. It looks like we made 500 grand from player sales. That is Toffolo, Akinde, O'conner and Andrade. Anyone else. Losses of just under 900 grand covered by directors and around 600 grand in the bank.
Tom Pett
 

Scotimp

Vital Football Legend
#32
The disposal of assets figure of (1,395,742) refers to the original costs that were intially capitalised ie. transfer fees,signing on fees ect. This asset value will be eliminated when the player leaves-this will include Michael Bostwick,Tom Pett,Neil Eardly,Frecklington,Josh Vickers and so on.It will also potentially include signing on fees that relate to Danny and Nicky Cowley plus other departed Management staff. The £1 million compensation figure for Cowley is not included in this amount.

The total transfer fees we received for players was £505,500-Toffolo would be the biggest part of that. The profit on transfers is £496,974 and is made up as follows :
£505,000 receipts less cost Disposals £1,395,742 plus depreciation written off on disposal £1,387,216
Thanks Harry.
 

impsimps

Vital 1st Team Regular
#34
Do we know when the Share Certificates will be issued for the unused part of the Season tickets 2019/20 ? Probably not enough staff to sort this out in the current circumstances.
 

Sincilbanks

Vital 1st Team Regular
#35
Do we know when the Share Certificates will be issued for the unused part of the Season tickets 2019/20 ? Probably not enough staff to sort this out in the current circumstances.
They've said previously they will not be distributing these until the staff are back in the office and working, so I doubt we will be getting them any time soon...
 

LA_Imp

Vital Newbie
#40
Danny and Nicky are our first million pound transfer! That money is looking incredibly timely now isn't it? Full credit to us the fans should be made as well.

To not only make a million pounds from your managers leaving, but to replace them with someone who stepped in after 7 games of a seasons start and work with someone else's squad, keep us in League 1 (fairly comfortably in the end), and who then completely revamps that squad to sit top of League One at Xmas *while at the same time reducing the cost of the squad to the club and also playing what is arguably the best football that fans of this club has ever seen* is astonishing and (in footballing terms) must be some kind of miracle. It's also a triumph of the boards succession planning and selection criteria for finding managers to drive on field success, this hasn't happened by chance...

All of this while at the same time not risking the future of the club but maintaining it's sustainability is doubly astonishing, this isn't some rich owner who's arrived and just spunked a ton of money on expensive first teamers only to watch the club crash and burn as their resources run short of their ambitions.

I don't think our club can be in better hands right now, it is immensely satisfying to be able to point to my club and say "You can succeed in English football, and you can do it without risking the future of the club in the short term"

In the words of young Mr Grace "We've all done very well!"
Quality summation of where we are right now! Needs reading several times to properly sink in.