Venkys London Ltd - (BRFC immediate parent company) accounts year ending 31/3/25

[Andy]

Would the NI adjustments in 2025 have made an impact on salary costs?

I know for the business I work for (a medium-sized local firm), it was somewhere in the region of an additional £500k-£750k over the course of this year.

[TugaysMarlboro]

McGuire has got that wrong.

It's not £211m since Venkys acquisition.

It's £211m because of Venkys acquisition.

[wilsdenrover]

36 minutes ago, Rogerb said:

Bank overdraft increased by £8million to over £11 million. As a result interest charges on overdraft and loans increased by over £1million.

At an interest rate of BoE base + 2.17%. 

[wilsdenrover]

18 minutes ago, Andy said:

Would the NI adjustments in 2025 have made an impact on salary costs?

I know for the business I work for (a medium-sized local firm), it was somewhere in the region of an additional £500k-£750k over the course of this year.

Salary and wages + £1,303,040

Social Security costs + £203,048

Pension costs + £187,951

Total increase £1,694,039

The cost of the adjustments you referred to will appear in next years accounts.

Edited 13 hours ago by wilsdenrover

[RoverDom]

1 hour ago, wilsdenrover said:

Now it says ‘…the timing and extent of the recovery of the loan depends on promotion…’

Is the penny finally starting to drop or is someone else insisting on these phrases being included??

Just guesswork on my part but the audit director has changed this year so could just be something from them. My experience of audit directors is they like to put their stamp on things in their first year. 

[Tomphil2]

3 hours ago, wilsdenrover said:

I’ve just noticed another difference (from previous years) re this - they’ve added the below:

‘… However the directors acknowledge the timing and eventuality of promotion is subject to a number of uncertainties and therefore this assessment is judgmental’

I wonder who decided this should be included.

Edited to add, spotted another…

In previous years they’ve said promotion would facilitate them being able to get their money back but…

Now it says ‘…the timing and extent of the recovery of the loan depends on promotion…’

Is the penny finally starting to drop or is someone else insisting on these phrases being included??

That's them acknowledging in a roundabout way promotion is a pipe dream and less likely than it ever even was before due to the downgrade in players.

[wilsdenrover]

13 minutes ago, Tomphil2 said:

That's them acknowledging in a roundabout way promotion is a pipe dream and less likely than it ever even was before due to the downgrade in players.

Yep, but is them Venkys or the auditor…

’interesting’ development either way.

[davulsukur]

23 hours ago, wilsdenrover said:

One thing I did notice was they’ve changed how they think ‘they’d get their money back’:

From promotion to the Premier League to;

Sustained membership of the Premier League.

How the extreme unlikelihood of this hasn’t led to a write down of the value of their investment is beyond me. 

I'm surprised they are willing to write that statement, or even someone is willing to approve/accept it.

It would would probably take north of circa £200m investment into the first team, to get promoted and then stay up.