Dundee FC finances

[PullMyFinger]

Copied from P&B thanks Mr Chisholm

Accounts for year ended 31 July 2009, filed at Companies House 26 March 2010:

Turnover ?2.1m (2008 -?1.8m)

Net loss ?286k (?85k)

Wages ?1.6m - 75% of turnover (?1.2m - 67%)

Intangible Assets ?295k (?25k) (value of players - will presumably include Griffiths & Harkins)

Cash in hand ?227k (?214k)

Total Current Assets ?375k (?435k) (Cash, trade debtors & other debtors)

Trade Creditors ?190k (?121k) (invoices owed to other businesses)

Other Creditors ?758k (?623k) (short term loans from Bennett, PAYE & NI, VAT, ST/sponsorship received in advance of the 2009-10 season & accrued costs)

Total Current Liabilities ?947k (?745k) (trade & other creditors)

Long Term Libilities ?430k (?150k) (presumably loans from Melville (Bennett) agreed not to be repaid within 1 year)

Balance Sheet shows the club is insolvant to the value of ?701k (?427k).

Wages = 75% of turnover? That's madness, but of course they're rent free but if Melville walks Dundee collapse in a heap. Is it any wonder things are so bad at Dens now?

[Yngwie]

I'm sure those figures are a lot better than a lot of full time clubs. Of course it helps that they were able to wipe the slate clean and start afresh when they went bust a few years ago.

Based on thiose figures they only have a solvency problem if Melville demands his loans back, which he'd be stupid to do.

However, if they are faced with another season in Div 1, things will be bleaker.

[Kingsmills]

I bet that ICT will have a greater net loss than ?286,000 for the current financial year.

[FoolPhysio]

Do we publish our accounts for general public or do you need to get them from Comapnies House?