Financial loss announced

[caleyboy]

I've not had the opportunity to look at the accounts .

Well maybe you should take a look at them - before you start commenting on the manner in which they are being reported. Because if you had bothered to take a look at the Chairman's Annual Report you would have seen that it is the Chairman himself who raises and highlights the issue that if measures had not been taken to boost the squad beyond what was originally budgeted last season, then the financial situation might have been a whole lot worse in that the club could have been relegated.

The quotes on BBC online are directly from the Chairman's annual report - and these are also the quotes used on the back page of the PandJ (30.10.12.) which takes exactly the same line.

So if you have an objection to the manner in which the Chairman is presenting the club's losses in the public domain, maybe you should raise that directly with him.... once you get back from Damascus, like

I have no issue with the Chairmans Report on the accounts (which I have read) as it clearly states that there's an improvement on the balance sheet....a small but vital detail that is totally overlooked in the BBC Article. Whether that was through ignorance or intent I have no idea....but equally irresponsible either way.

The only reason we have an improved Balance Sheet is because there was a further £500k shares issued. Can we expect this again this year?

[CaleyD]

I don't know what investment might come in the future and we'll have to wait until the AGM to see what the Chairman has to say about what's being done to improve both the operating situation and the future balance sheet situation before we can make any judgement on that.

[caleyboy]

Does anyone know who bought the shares? I take it that £250k is Muirfield Mills consortium but that still leaves £250k.

Edited November 1, 2012 by caleyboy

[12th Man]

Think the comp ticket scam may come back to haunt them as I'm pretty sure they have to be declared and normal value attributed for when calculating the split of revenue....in other words, Rangers will still have to stump up half the normal cost to us.

That would be funny, as mentioned before half of nothing isnt nothing but a six figure sum.

I had a look at the RFC website for tickets and was a near full capacity for 3 stands on Tuesday night, come Wednesday afternoon, a lot were listed as half empty

[Kingsmills]

Even at the declared 28,000 our share of the gate money together with guaranteed income from the semi final combined with the trimming of the budget ought to ensure we break even in the current financial year.

Progress to the final and/or similar progress in the Scottish Cup and/or a top six finish ought to ensure a rare annual profit.

[caleyboy]

Even at the declared 28,000 our share of the gate money together with guaranteed income from the semi final combined with the trimming of the budget ought to ensure we break even in the current financial year.

Progress to the final and/or similar progress in the Scottish Cup and/or a top six finish ought to ensure a rare annual profit.

I hope you are right. I wonder if Mr Savage is still willing if his conditions are met?

Edited November 2, 2012 by caleyboy

[12th Man]

Even at the declared 28,000 our share of the gate money together with guaranteed income from the semi final combined with the trimming of the budget ought to ensure we break even in the current financial year.

Progress to the final and/or similar progress in the Scottish Cup and/or a top six finish ought to ensure a rare annual profit.

I hope you are right. I wonder if Mr Savage is still willing if his conditions are met?

Can you remind me what the t and cs were from the sponsorship deal