I have done these summaries for a few years so I will do one again, but most of the relevant information has been covered here. Of course, I do accounting related work 250 days a year already and the accounts have to finally be posted on one of the few weekdays where I am not working. As an accountant who prepares financial statements, that is the perspective that I tend to take when looking at accounts and it is always beneficial to also look at the perspectives of people with other backgrounds in finance and accounting.
Page number references are to the page in the accounts themselves and not to their page number of the electronic file.
Page 14 gives us key information about cash flow for the year. We spent about 700k on transfers and received 1.05m on transfers. We spent about 800k on payoffs, a decrease from the year before and page 6 tells us that new payoffs totaling 400k were agreed on during the year. Page 22 has our purchases for the year at 867,500. Dack was purchased before this period started so this should primarily include the likes of Samuel, Downing, and Bell and it looks like all of our business for this season did not start until July. This season's business, which does not include January since that was after the date of the accounts, resulted in net purchases of 7.6m, which should only cover guaranteed payments. Pages 24 and 25 give us more information about cash we owe or are owed for transfers. We are still owed 1.3m this year and 10k in future years from sales and owe 1.2m this year and 375k in future years. Potential add-ons that we could owe total 2.1m. Obviously, with our purchases in the summer, the scale of transfers will change significantly.
Here is a chart of purchases per year:
Here is cash related to transfers and payoffs:
As expected, turnover decreased due to the difference in media deals in League One as shown on page 20. That should recover this season while Matchday and Commericial income held well and should increase as well this season, but the graph shows just how far we have fallen over time. The wage bill has fallen again, although it figures to increase this season and staffing levels continue to drop as well.
After a few seasons with not much in way of transfers, we are back to adding in a lot of expense other than wages. Income should increase to a higher level than our relegation season, but still below the parachute payment days. Our wage bill will probably not be as high as it was during the relegation season either, but presumably will get there soon after new contracts and signings. More importantly, after a few years of clearing out some of the costs from past moves, we are committing ourselves to more costs now and in the near future.