Latest Accounts...

[Lark]

Finally published, see info here:
https://www.kentonline.co.uk/medway/sport/gillingham-reveal-500k-loss-in-latest-accounts-236012/

 

[LockdownLife]

Tl;dr - made a disappointing £557k loss. The new pitch set us back £418k and we had no player sales.

 

[Tarian]

Finally published, see info here:
https://www.kentonline.co.uk/medway/sport/gillingham-reveal-500k-loss-in-latest-accounts-236012/

To 31st May 2019

 

[Tarian]

Tl;dr - made a disappointing £557k loss. The new pitch set us back £418k and we had no player sales.

Which suggests a Trading loss of £ 139,000 (plus pitch depreciation)
Not quite as scary.
(Over how many years does one write off a pitch ??)

 

[Lark]

To 31st May 2019

Yes, they are the latest accounts, been overdue since February I believe.

 

[Lark]

Which suggests a Trading loss of £ 139,000 (plus pitch depreciation)
Not quite as scary.
(Over how many years does one write off a pitch ??)

We also had to pay back Michael Anderson £100k.

 

[LockdownLife]

Yeah taking out the pitch it reads much better and roughly in and around the tolerance you'd expect. I think we made similar in profit the year before.

I seem to recall we redo the pitch every now and then - maybe 5ish seasons?

 

[Trashbat]

We also had to pay back Michael Anderson £100k.

That has zero impact on profit. Will only show on the balance sheet.

 

[Nobby_66]

Wayne must be chomping at the bit

 

[LSB2]

I see Scally was only paid £168k, and paid back the loan he owed the club. This is up until May last year, so I'm sure he's taken a pay cut this year too, we'll see.

 

[markinkent]

Quarrington shown as club secretary so perhaps Gwens retirement was planned a while back.

Good to see scally take a more reasonable fee

 

[shotshy]

Sunderland made 11.2 million loss in the same period

 

[Lark]

I wonder when the £1.8m 3 director’s loan will be paid back? 63k a year interest payments on it currently.

 

[Nobby_66]

I see Scally was only paid £168k, and paid back the loan he owed the club. This is up until May last year, so I'm sure he's taken a pay cut this year too, we'll see.

But then we'll have nothing to moan about

 

[LSB2]

But then we'll have nothing to moan about

We won't, same people will though!

 

[Nobby_66]

We won't, same people will though!

Somewhat ironically, if he manages to keep us afloat through this season, he will probably deserve his "fee" more than at any other time.

 

[goddington_gill]

Somewhat ironically, if he manages to keep us afloat through this season, he will probably deserve his "fee" more than at any other time.

Dont tell him tho!

 

[LSB2]

Somewhat ironically, if he manages to keep us afloat through this season, he will probably deserve his "fee" more than at any other time.

Although £168k would pay for a few season ticket refunds...

 

[Bert]

Yes, they are the latest accounts, been overdue since February I believe.

They are late but not that late. The Club would have been entitled to a 3 month extension because of Covid.

 

[Bert]

Tl;dr - made a disappointing £557k loss. The new pitch set us back £418k and we had no player sales.

No Player sales??? What about all those sell on fees?