GFC accounts announced | Vital Football

GFC accounts announced

I haven't got time to look in detail but this stood out to me:

£2.6m spent on player and management salaries, wonder how that stacks up against other clubs of our size.
 
SE1_Gills said:
I haven't got time to look in detail but this stood out to me:

£2.6m spent on player and management salaries, wonder how that stacks up against other clubs of our size.
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If you mean our size, based on gates, it’s probably a bit lower than most.
However, if you mean our size as in this division, then it’s easily down there with the lowest.
Most of the ex big clubs triple or quadruple our players budget.
 
wxgill said:
27.5% pay rise - year on year for the chairman. £168,000 to £214,345.
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The terminology is a bit strange. Supposedly, P Scally provided consultancy services. Who consulted him? It could only have been the club. Who is described as having the controlling interest in the club - P Scally.

If that description is due to some sort of tax efficiency, it shows how easy it is to get round HMRC.

He just needs to be realistic. If he takes these sums out of a club while it is making losses, he can not then exaggerate its value if he is ever approached to sell it.
 
shotshy said:
If you mean our size, based on gates, it’s probably a bit lower than most.
However, if you mean our size as in this division, then it’s easily down there with the lowest.
Most of the ex big clubs triple or quadruple our players budget.
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Wycombe reputedly trying to sign Sam Vokes. You don't get many of them to the pound, or even to the £2.6M
 
According to Companies Act 2006, as I understand it, "small companies" can submit abridged financial statements which don't have to be audited.

To be classed as small a company must meet two out of three conditions:
1. Turnover no more than GBP10.2m
2. Balance sheet total no more than GBP5.1m
3. No more than 50 employees.
GFC meets (I assume) the first two conditions.

Reading around a bit, it seems that quite a lot of lower league football clubs have gone down this route, which makes understanding football finances much trickier. At Championship level and above I'd expect turnover >GBP10m so you'll see full accounts. On the Companies House website you can download GFC accounts from the early 80s onwards. Up until May 2018 these are full accounts and full of interesting information. The last two years are abridged and less useful.
 
It's the 20-21 accounts that I'm waiting for (a long wait, I know!). Only then will we know the full impact of Covid.
 
shotshy said:
It won’t make pretty reading but ……. the ship’s still sailing, it’s a different ship with a new crew, it’s on a different journey but the destination is still the same. #pugwash
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Aye aye Capt’n.

You’ll have Fleetwood on to you for copyright infringements.
 
blueworm said:
According to Companies Act 2006, as I understand it, "small companies" can submit abridged financial statements which don't have to be audited.

To be classed as small a company must meet two out of three conditions:
1. Turnover no more than GBP10.2m
2. Balance sheet total no more than GBP5.1m
3. No more than 50 employees.
GFC meets (I assume) the first two conditions.

Reading around a bit, it seems that quite a lot of lower league football clubs have gone down this route, which makes understanding football finances much trickier. At Championship level and above I'd expect turnover >GBP10m so you'll see full accounts. On the Companies House website you can download GFC accounts from the early 80s onwards. Up until May 2018 these are full accounts and full of interesting information. The last two years are abridged and less useful.
Click to expand...
Nearly right worm, but condition 2 is gross asset value, not balance sheet total.
 
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