2020 account information

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holidaysong
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2020 account information

Post by holidaysong » Mon May 03, 2021 10:44 am

I seen the 2020 accounts info posted on twitter.

https://twitter.com/chippie1974/status/ ... 1177491461

I am not an accountant but it looks like €1.5 was required to be put in from P6 even with the Euro money or am I misreading it?

Which would mean in a year with no gate income, our day to day running costs must be €1.5m plus whatever profit you're left with from the Euro money once all of the expenses are taken out. €3,882,860 was our total prize money. It looks like tax was +200k and bonuses (accruals) +700k YOY. Then all the costs of travel, testing, stadium rental, etc...

Any accountants able to provide a better explanation here?

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Re: 2020 account information

Post by Pepsi » Mon May 03, 2021 1:00 pm

Not sure, but I assume the European money for the group stages hasnt been paid out yet. I also assume Peak6 have been bankrolling the Euro campaign and as a result are owed money.

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Re: 2020 account information

Post by Richie87 » Mon May 03, 2021 1:22 pm

I don't think the EL Group stage money is paid out until July or so? That group stage qualification was important, as they were making a loss the previous few years.

The Conference League will be less of a payment then the Europa League. They would need to be at least getting into the group stages of it, and picking up points in the group stages, for some return.

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Re: 2020 account information

Post by superman » Mon May 03, 2021 3:32 pm

''They have €3m in the bank at 30/11/20 but owe €3.4m to creditors, mostly their owners who are owed €1.7m''

Not an accountant at all so maybe I am getting things wrong , but it makes me nervous that the club is acquiring so much debt with very little long term investment.
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Re: 2020 account information

Post by Richie87 » Mon May 03, 2021 3:49 pm

They have paid out good wages to players that haven't worked Karolis Chvedukas, Stefan Colovic.
Wilfried Zahibo is the highest earner at the club. He was on good money in America. They need signings like him to make an impact in Europe, same with Jurkovskis, Han.

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Re: 2020 account information

Post by Pepsi » Mon May 03, 2021 3:55 pm

Lads in 2020 the club made a profit ....... these figures prove Europe is needed as there is no money in the LOI and once again raises the question how fans expect success on the pitch and a new or upgraded Oriel, maybe now reality will prevail and fans will understand it is top players or top facilities at this moment in the clubs position. €3.4m owed to creditors I assume will be offset in part once the European money comes in, again I can only assume the owners covered travel costs etc. for the group stages. In a period of no fans and Covid I feel things could be a lot worse, who do Rovers accounts look like after their cash injection from their sugar Daddy??? Lets see how long Peak6 want to sustain it ...... enjoy it when it lasts lads.

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Re: 2020 account information

Post by Philly » Mon May 03, 2021 4:09 pm

Richie87 wrote: Mon May 03, 2021 1:22 pm I don't think the EL Group stage money is paid out until July or so?
Without being able to see the bank accounts to me it looks like we have been paid most/all of the money from UEFA. Receivables would be a lot higher if over 3 Mil in prize money was due to us.

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Re: 2020 account information

Post by Richie87 » Mon May 03, 2021 4:44 pm

The figure was 3m at the end of the November. The remaining 800k has probaly been paid since then. Flights, paying for Tallaght, hotels, might not have been a lot.

The group stage in 16, the players each received a 40k bonus for qualification., flights to Russia, Isreal, renting Aviva, Tallaght. There was a good chunk gone after that

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Re: 2020 account information

Post by niall_hearty2000 » Mon May 03, 2021 5:57 pm

Is it including the current europa league campaign? Surely prize money for it wouldnt have been paid out until july, as the current season or european campaign hasnt concluded yet?
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Re: 2020 account information

Post by Philly » Mon May 03, 2021 6:01 pm

niall_hearty2000 wrote: Mon May 03, 2021 5:57 pm Is it including the current europa league campaign? Surely prize money for it wouldnt have been paid out until july, as the current season or european campaign hasnt concluded yet?
Revenue was earned in 2020 so that would be reflected in the 2020 Income Statement regardless when it is paid.

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Re: 2020 account information

Post by oldfogey » Tue May 04, 2021 9:21 am

Philly wrote: Mon May 03, 2021 6:01 pm
niall_hearty2000 wrote: Mon May 03, 2021 5:57 pm Is it including the current europa league campaign? Surely prize money for it wouldnt have been paid out until july, as the current season or european campaign hasnt concluded yet?
Revenue was earned in 2020 so that would be reflected in the 2020 Income Statement regardless when it is paid.
That is the normal practice, but the Trade Debtors are only €170k. They may have split the income, given that we were still in the group stages at 30 Nov 2020.

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