Venky’s, HMRC…The Plot Thickens ?

[RoverDom]

Just now, Displaced Rover said:

Statutory audit quality in this country is on the whole a total joke. In my eyes it primarily exists to train new chartered accountants.

The standard of audit of unlisted entities is beyond poor. When you couple that with 95% of the general public not understanding what it involves, it becomes an almost pointless exercise.

Not to mention the extent of their fraud testing involves asking the directors to sign a letter promising there has been no fraud in the organisation. 

[Rogerb]

Is the shadow man living in Alexander House?

[roverblue]

https://www.lancashiretelegraph.co.uk/sport/23813535.vll-record-20m-loss-blackburn-rovers-cost-breaks-200m/

Grim reading, completely unsustainable especially if they are cutting investment in rovers due to preference or restrictions.

[Mattyblue]

‘The Venky’s’ 🤦‍♂️. Another crack journo on the beat..

[superniko]

I found this part interesting from Maguire (the bottom highlighted part)…

Net transfer fee of £20k since the balance sheet was submitted.
It would suggest quite the fee for the non-league German lad (no idea how it accounts for instalments but I’d have thought Kaminski + Phillips would account for more than Wahlstedt and Telalovic)

Edited September 26, 2023 by superniko

[Waggy76]

With no major player sales, the club have lost £20.8m in the financial year. There were positives despite the major cash loss, with turnover up from £17.1m to £19.9m. 

You can't sell many players , a lot left for Sweet FA...

Total in incompetent management!!

Time to go Venkys !!!

[lraC]

13 minutes ago, superniko said:

I found this part interesting from Maguire (the bottom highlighted part)…

Net transfer fee of £20k since the balance sheet was submitted.
It would suggest quite the fee for the non-league German lad (no idea how it accounts for instalments but I’d have though Kaminski + Phillips would account for more than Wahlstedt and Telalovic)

Was it £2m for Phillips and the same for the same for TK?

I very much doubt that we have been told the truth behind mot of this anyway. I doubt most of what comes out of the club these days.

[superniko]

33 minutes ago, lraC said:

Was it £2m for Phillips and the same for the same for TK?

I very much doubt that we have been told the truth behind mot of this anyway. I doubt most of what comes out of the club these days.

Yeah I think with Edun too it was close to £5m anyway. We spent £800k on the keeper so would suggest what £4m on other signings (German striker + loan fees). That seems like a lot of money, but again it might not take account instalments, and it might be nothing to do with the summer transfer window anyway, although it does suggest it is.

[Mattyblue]

‘The project is for us to become a sustainable and established Premier League football club.’
 

A lot of time for GB but you don’t half have to come out with a right load of nonsense in this business.

Edited September 26, 2023 by Mattyblue

[Mashed Potatoes]

9 minutes ago, superniko said:

Yeah I think with Edun too it was close to £5m anyway. We spent £800k on the keeper so would suggest what £4m on other signings (German striker + loan fees). That seems like a lot of money, but again it might not take account instalments, and it might be nothing to do with the summer transfer window anyway, although it does suggest it is.

The accounts were signed by the auditors on 31 July so I think the transfer activity in August is not covered by the statement about post balance sheet activity - which therefore excludes the departures of Kaminski and Phillips and the arrival of the new goalkeeper and striker.

[superniko]

32 minutes ago, Mashed Potatoes said:

The accounts were signed by the auditors on 31 July so I think the transfer activity in August is not covered by the statement about post balance sheet activity - which therefore excludes the departures of Kaminski and Phillips and the arrival of the new goalkeeper and striker.

Perfect, thanks for that. Assumed it would be something to do with the timings.

[NeilInBristol]

"It leaves Venky's with a loss of circa £205m in 13 years of owning the club."

 

Crikey

They have lost so much. We have lost so much. Venkys it isn't working out..if this was a relationship there would have been a divorce already 

[1864roverite]

Its chicken feed to them in all reality

[broadsword]

1 hour ago, Mattyblue said:

‘The project is for us to become a sustainable and established Premier League football club.’
 

A lot of time for GB but you don’t half have to come out with a right load of nonsense in this business.

Northern premier?

[tomphil]

Iv'e seen estimates down the years of anywhere between 10 million and 100 million VH group annual profits.  The club sits somewhere in these accounts so it has to be assumed that the profit is after what the club costs them is taken out.

So yes chicken feed to them and in no way the big deal a lot try to make it, if they couldn't afford it they wouldn't be here it's that simple.

Washed chicken feed some might say.

[broadsword]

But why own us in that case? Were costing them sixteen percent of the profits they'd otherwise make, I'm not John Harvey Jones but that to me isn't sundry expenses.

 

Again I have to ask, why do they keep us, what's the advantage?

Edited September 26, 2023 by broadsword

[aletheia]

Just for info.

Transfers championship teams

Expenditure on incoming players this season.

Figures in millions of pounds.

5 teams less than us.

Leicester city

44.1

Leeds

35.9

Coventry

30.03m

Southampton

21.55

Stoke

16.09

Middlesborough

9.05

Sunderland

Expenditure 7.9m

Hull

7.15

Millwall

Expenditure 6.24

B/Ham

5.69

Bristol city

5.41

PNE

3.84

Ipswich town

3.5

Norwich city

3.12

Plymouth Argyll

2.48

Watford

2.06

Sheffield Wednesday

1.3

Rotherham

1.1

BRFC

1

WBA

0

Cardiff

0

QPR

0

Huddersfield

0

Bristol Rovers

350k

 

Edited September 26, 2023 by aletheia

[Rogerb]

Latest accounts.

Item26 makes for an interesting read the sale price valuation of the training ground at 17.3million was on the basis of getting planning permission which it has not obtained. Club is paying rent and appears to be receiving interest on the outstanding funds

Venky sponsorship money is outstanding and shown as a debt.

companies_house_document_copy.pdf

[yoda's brother]

has anybody got on to rovers website today   ? i hav'nt

 

 

 

[LeftWinger]

12 hours ago, aletheia said:

Just for info.

Transfers championship teams

Expenditure on incoming players this season.

Figures in millions of pounds.

5 teams less than us.

Leicester city

44.1

Leeds

35.9

Coventry

30.03m

Southampton

21.55

Stoke

16.09

Middlesborough

9.05

Sunderland

Expenditure 7.9m

Hull

7.15

Millwall

Expenditure 6.24

B/Ham

5.69

Bristol city

5.41

PNE

3.84

Ipswich town

3.5

Norwich city

3.12

Plymouth Argyll

2.48

Watford

2.06

Sheffield Wednesday

1.3

Rotherham

1.1

BRFC

1

WBA

0

Cardiff

0

QPR

0

Huddersfield

0

Bristol Rovers

350k

 

Why are Bristol Rovers in this list?

[47er]

15 hours ago, tomphil said:

Iv'e seen estimates down the years of anywhere between 10 million and 100 million VH group annual profits.  The club sits somewhere in these accounts so it has to be assumed that the profit is after what the club costs them is taken out.

So yes chicken feed to them and in no way the big deal a lot try to make it, if they couldn't afford it they wouldn't be here it's that simple.

Washed chicken feed some might say.

What nags at me is that they are paying 20M a year to keeps in the championship, yet, if they'd put a lesser amount than that in at the start, we could still be in the Premiership.

I say "could" because that would depend on the quality of people appointed to run the various aspects of the Club

[Guest]

Web site is still down - There is definitely something suspicious about that, as I can't imagine that an ISP / Web hosting service worth its salt would allow a prestigious brand (ha!) like Rovers to be damaged by being offline for a prolonged period. Most technical problems are relatively easy to fix, and it isn't like the Rovers have any particularly complex content or services running on their site.

I wonder if we are having difficulty paying basic bills? It could be something as simple as that, but if so, that would be deeply troubling - the comment elsewhere (Cardiff thread) asking have we paid the milkman, might be apposite 😉

[wilsdenrover]

1 hour ago, Shirley Crabtree Wrestler said:

Web site is still down - There is definitely something suspicious about that, as I can't imagine that an ISP / Web hosting service worth its salt would allow a prestigious brand (ha!) like Rovers to be damaged by being offline for a prolonged period. Most technical problems are relatively easy to fix, and it isn't like the Rovers have any particularly complex content or services running on their site.

I wonder if we are having difficulty paying basic bills? It could be something as simple as that, but if so, that would be deeply troubling - the comment elsewhere (Cardiff thread) asking have we paid the milkman, might be apposite 😉

I was going to suggest someone pops down to see if the lights are still on but it appears there’s at least one person in the building…

Perhaps ‘working hard with our providers’ = ‘desperately trying to agree a payment plan’ 🤔

 

 

Edited September 27, 2023 by wilsdenrover

[aletheia]

7 hours ago, LeftWinger said:

Why are Bristol Rovers in this list?

Senior moment. 🙂

 

[Oldgregg86]

6 hours ago, wilsdenrover said:

I was going to suggest someone pops down to see if the lights are still on but it appears there’s at least one person in the building…

Perhaps ‘working hard with our providers’ = ‘desperately trying to agree a payment plan’ 🤔

 

 

We currently can’t be arsed deleting all these emails about the Blackburn end, it will be fixed when the game kicks off