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Venkys London Ltd accounts


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2 hours ago, Mashed Potatoes said:

Thanks. Yes there is , although of course those accounts show the position of just over a year ago. The government did provide for deferrals for businesses in paying taxes like VAT as a result of COVID so presumably the considerable increase in the number reflects that. I would like to think that Venkys would make sure that the club does meet its tax liabilities rather than make it conditional on transfer sale receipts.

 

 

Wasn't inferring it was conditional on that but it's still something that needs squaring off eventually. So any lumps of monies coming in will go towards whatever is outstanding i'd assume.

I was more concerned that tax isn't something you can keep putting off unlike maybe re-jigging outstanding transfer money owed etc.

It's all in the outstanding debt column at the end of the day.

Edited by tomphil
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8 hours ago, Leonard Venkhater said:

I am wondering who benefits from "losses" like that. What is the function, for whom?

However many millions they quote, I fail to be impressed. 

What a business failure! Add these "losses" to all the money from two seasons in the premier league , all the money from their fire sales and all the parachute payments..

Yet they never, ever appoint a proper manager, install a proper structure. However much money they quote, it is not f**** working!

Get out and let someone take over, who is willing and able to run a club properly.

Not one attempt at promotion to the top flight in 10 years....zombie club...only one outcome...

I used to think that "a tipping point" was imminent at the end of every wasted season.

Now, from anecdotal tales I've heard about Venky's wealth I believe they COULD prop us up like this indefinitely IF they wanted.

However just because they could do this, doesn't mean they will, or won't tire of it all of a sudden one day.

For me the ideal scenario would be to combine their financial clout with the leadership of a top class manager and some proper footballing and business acumen and local knowledge off the pitch.

The offers of help and support are out there, I hope the owners take the olive branch and combine forces before the situation on and off the pitch deteriorates still further.

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1 hour ago, Rolo PB said:

The old adage that a fish rots from the head just rings so true with my beloved Rovers.

I can only read with pure and absolute bemusement the various defences put up for the clubs’ owners. The whole club has been reduced and hollowed out to a completely pathetic, soulless, joyless tinpot charade. They have brutally depth charged the proud legacy of Jack Walker, so much so that chancers and carpet-baggers think they can exploit one of its preeminent components in the shape of Brockhall and the academy that has produced numerous players for the first team. Each one indeed a tribute to the foresight and endeavour of the great man himself. 

You know this lot should be frogmarched before a panel of fans and forced to answer many an uncomfortable question. Instead we have fans mounting pitiful defences for a pitiful regime. The notion that any discerning Rovers fan should feel even a scintilla of gratitude towards this wretched family is utterly demeaning, degrading, debasing and disparaging to the club - and is tantamount to defending an absent parent who pays maintenance for their children, but has absolutely no profound effect on their upbringing. 

Takeovers of football clubs by allegedly wealthy families are meant to generate buzz, excitement, pride. Here we are after a decade plus, and £282 million, exiting the brewery tour sober. It’s just a dire disheartening mess that never displays any appreciable sign of improvement. The Rao’s are to football ownership what wood-rot is to Pinocchio and the sooner this nausea is rung from the clubs’ brow - and consigned to the past - the better for Blackburn Rovers Football Club

 

 

Fan-bloody-tastic post Rolo.

 

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So Waggots notes in the accounts say that besides covid impact the losses have gone up because of investment in the team.

So where is the impact of that ?  Why aren't the owners looking at that ?

Nothing anyone can do about the covid scenario but continually letting people piss money can be rectified. No doubt the so called investment is mostly wages related and paying up of more installments. That being Brereton and Gallagher plus the alleged loan fees for a couple of others.

Yet the team continues to go nowhere and shows no tangible benefit for this so called investment !

Why are they so blind to this ?

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4 hours ago, Rolo PB said:

The old adage that a fish rots from the head just rings so true with my beloved Rovers.

I can only read with pure and absolute bemusement the various defences put up for the clubs’ owners. The whole club has been reduced and hollowed out to a completely pathetic, soulless, joyless tinpot charade. They have brutally depth charged the proud legacy of Jack Walker, so much so that chancers and carpet-baggers think they can exploit one of its preeminent components in the shape of Brockhall and the academy that has produced numerous players for the first team. Each one indeed a tribute to the foresight and endeavour of the great man himself. 

You know this lot should be frogmarched before a panel of fans and forced to answer many an uncomfortable question. Instead we have fans mounting pitiful defences for a pitiful regime. The notion that any discerning Rovers fan should feel even a scintilla of gratitude towards this wretched family is utterly demeaning, degrading, debasing and disparaging to the club - and is tantamount to defending an absent parent who pays maintenance for their children, but has absolutely no profound effect on their upbringing. 

Takeovers of football clubs by allegedly wealthy families are meant to generate buzz, excitement, pride. Here we are after a decade plus, and £282 million, exiting the brewery tour sober. It’s just a dire disheartening mess that never displays any appreciable sign of improvement. The Rao’s are to football ownership what wood-rot is to Pinocchio and the sooner this nausea is rung from the clubs’ brow - and consigned to the past - the better for Blackburn Rovers Football Club

 

 

I love this. It speaks to my heart.

It could be delivered by Olivier! It is our version of Henry V Crispian's Day speech lol

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15 minutes ago, Leonard Venkhater said:

I love this. It speaks to my heart.

It could be delivered by Olivier! It is our version of Henry V Crispian's Day speech lol

Exactly. A superb, accurate and beautifully articulated post by @Rolo PB

On St Crispin's day the troops went into battle inspired by the speech. We fans need to do the same to rid the club of this Venky scurge. 

Reclaim the Rovers

 

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2 minutes ago, Crimpshrine said:

Exactly. A superb, accurate and beautifully articulated post by @Rolo PB

On St Crispin's day the troops went into battle inspired by the speech. We fans need to do the same to rid the club of this Venky scurge. 

Reclaim the Rovers

 

Agreed. Rolivier 's speech certainly rallied me. 

I can't help wondering if Rolo loves Charles Laughton and Olivier, as much as he obviously loves Rovers.

How dare they!!!

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9 hours ago, RevidgeBlue said:

I used to think that "a tipping point" was imminent at the end of every wasted season.

Now, from anecdotal tales I've heard about Venky's wealth I believe they COULD prop us up like this indefinitely IF they wanted.

However just because they could do this, doesn't mean they will, or won't tire of it all of a sudden one day.

For me the ideal scenario would be to combine their financial clout with the leadership of a top class manager and some proper footballing and business acumen and local knowledge off the pitch.

The offers of help and support are out there, I hope the owners take the olive branch and combine forces before the situation on and off the pitch deteriorates still further.

I think you're right, they could keep us going like this indefinitely, I think they have the resources to do so.

 

I would caution against giving yourself false hope though. Venky's seeing the light would be like Keith Richards becoming a jehovahs witness. It's possible, but they'd need to fall head-first out of a palm tree more than just the once for that to happen. 

It's all about whether they want to cut their losses and crash the holding company, I think. 

 

But really, trying to figure out what their plan is is like trying to figure out why people watch reality TV. 

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6 hours ago, Rolo PB said:

The old adage that a fish rots from the head just rings so true with my beloved Rovers.

I can only read with pure and absolute bemusement the various defences put up for the clubs’ owners. The whole club has been reduced and hollowed out to a completely pathetic, soulless, joyless tinpot charade. They have brutally depth charged the proud legacy of Jack Walker, so much so that chancers and carpet-baggers think they can exploit one of its preeminent components in the shape of Brockhall and the academy that has produced numerous players for the first team. Each one indeed a tribute to the foresight and endeavour of the great man himself. 

You know this lot should be frogmarched before a panel of fans and forced to answer many an uncomfortable question. Instead we have fans mounting pitiful defences for a pitiful regime. The notion that any discerning Rovers fan should feel even a scintilla of gratitude towards this wretched family is utterly demeaning, degrading, debasing and disparaging to the club - and is tantamount to defending an absent parent who pays maintenance for their children, but has absolutely no profound effect on their upbringing. 

Takeovers of football clubs by allegedly wealthy families are meant to generate buzz, excitement, pride. Here we are after a decade plus, and £282 million, exiting the brewery tour sober. It’s just a dire disheartening mess that never displays any appreciable sign of improvement. The Rao’s are to football ownership what wood-rot is to Pinocchio and the sooner this nausea is rung from the clubs’ brow - and consigned to the past - the better for Blackburn Rovers Football Club

 

 

Wow, what a post. Says exactly how I feel in ways I couldn't hope to 

 

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2 hours ago, broadsword said:

I think you're right, they could keep us going like this indefinitely, I think they have the resources to do so.

 

I would caution against giving yourself false hope though. Venky's seeing the light would be like Keith Richards becoming a jehovahs witness. 

Maybe he could record All Along the Watchtower...There must be some way outta here!

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On 08/07/2021 at 18:11, Mashed Potatoes said:

You can get an idea of how things are going by looking at the share issues by Venkys London as historically that is how the club has been funded. Interestingly the increase in the share capital between January 2020 and May 2021 has been "only" in the region of £22m whereas I would have expected more given the loss of income. Either there has been some reduction in the cost base or an increase in external borrowing or some bills have not been paid.

…or most likely, inter-company loans have increased to fund working capital requirements 

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I see the full accounts are now available on the Companies House web site.

It looks to my untrained eye that the figures and reports were all signed and approved in December 2020.

With Mowbray stating that we have missed out on some transfer targets due to the embargo for late filing of the accounts, it begs the question why were they not filed at the earliest date possible after internal approval ?  

There may be valid reasons - anyone any ideas ?

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10 minutes ago, Crimpshrine said:

I see the full accounts are now available on the Companies House web site.

It looks to my untrained eye that the figures and reports were all signed and approved in December 2020.

With Mowbray stating that we have missed out on some transfer targets due to the embargo for late filing of the accounts, it begs the question why were they not filed at the earliest date possible after internal approval ?  

There may be valid reasons - anyone any ideas ?

There is an argument to not reveal a weak hand until the last possible moment & given that the EFL allowed a deferral due to Covid Rovers might have feared predatory activity by other clubs if we revealed the numbers sooner than everyone else ? Might have impacted upon potential transfer income ? 
This is little more than a theory clearly…🤷‍♂️
 

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the Accounts where approved by the club on 11th December 2020 yet were somehow submitted late to Companies House - the deadline being 30th June 2021, however were actually submitted on 6th July 2021.

Absolute basics 🤯 

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It is pretty dire set of figures but it is recoverable from with a 3 point plan:

1. Boost Matchday income: Lower season ticket and match day ticket prices to encourage more people to attend. More people in the ground more is spent on food, drinks and merchandise.

2. Boost Commercial Income: Increase in matchday attendances will see an increase in people wanting to be attracted to the brand through perimeter advertising etc, afterall who wants to advertise to only 12,000 people in the stadium when 20,000 could be achieved. Once all places are sold can then increase prices in future seasons for sponsors only.

3. Broadcasting Revenue: More games are likely to be broadcast with a 80% full stadium for example than a 30% full stadium.

It also needs a management team and club directors to act as one with the fans at the heart of every decision made by the club. This last bit is impossible without sweeping chnages.

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