Football club accounts filed with Companies House

[LittleMate]

£2.3m loss on £5.6m turnover (up from £4.3m). £400k of ground and other improvements. Debt to Eagle investments increased by £2m. Now almost £12m.

We are lucky to have such committed investors prepared to try and scale up the club into something bigger and better.

I shall let people better qualified than me pick over the rest of the bones.

[tuffers#1]

Got a Link please ?

[Ronnie Hotdogs]

£1.1m trade debtors? What the hell is that?

That’s an awful set of numbers - for all the talk of us being financially stable and on an even keel etc, the truth is we’re nothing of the sort. That must be one of our biggest ever losses.

The good news is our owners, Eagle Investments 2017 Ltd, have also filed their accounts. And they are worth some £17m, with £3m in the bank and a whopping £14m worth of investments! So we don’t need to panic just yet.

[Lifelongfan]

https://s3.eu-west-2.amazonaws.com/docu ... e9550fd5e5

[spen666]

£1.1m trade debtors? What the hell is that?

Note that trade creditors has increased by a similar amount to trade debtors.

Could simply be timing issues on sales / purchases. Remember this is a snapshot in time

That’s an awful set of numbers - for all the talk of us being financially stable and on an even keel etc, the truth is we’re nothing of the sort. That must be one of our biggest ever losses.

The good news is our owners, Eagle Investments 2017 Ltd, have also filed their accounts. And they are worth some £17m, with £3m in the bank and a whopping £14m worth of investments! So we don’t need to panic just yet.

The Eagle Investments of £14m probably is accounted for by the monies owed by Orient to them . Eagle will possibly record the money loaned to Orient as an investment




As LOFC use the small companies exemption, it is very difficult to know much about the position other than the headline figures. Most football clubs use this exemption

[Max B Gold]

£1.1m trade debtors? What the hell is that?

That’s an awful set of numbers - for all the talk of us being financially stable and on an even keel etc, the truth is we’re nothing of the sort. That must be one of our biggest ever losses.

The good news is our owners, Eagle Investments 2017 Ltd, have also filed their accounts. And they are worth some £17m, with £3m in the bank and a whopping £14m worth of investments! So we don’t need to panic just yet.

I'm assuming the £14m of investments is in Orient and with the ongoing loss position of that entity I'm not sure the carrying value of the investment can be relied on.

[Proposition Joe]

Eagle Investments? Is this a joke?

[Max Fowler]

£1.1m trade debtors? What the hell is that?

Note that trade creditors has increased by a similar amount to trade debtors.

No it hasn't, the increases are nowhere near the same level.

How can we be owed over £1m from 'trade sales' at 30/6/22? Transfer fees?

[Max Fowler]

Eagle Investments? Is this a joke?

What's so funny? It's usual to have a corporate structure such as this, one company owning another, for a myriad of reasons.

I believe there will be full details of the organisational chart in our US ultimate parent company's accounts, Rooosh Inc.

[Mistadobalina]

Kinda mind boggling that £7.9 million isn't enough to buy a team that absolutely walks it at a league 2 level. The amount of money in football is ridiculous.

Really hope a fair whack of that loss is in longer term investments that will generate more income and make us more sustainable, as you have to wonder how long our board will be happy to subsidise that much loss every season. Makes me a bit nervous to think we're that much of a financial mess really. If we became self funding, we'd probably have the budget for a midtable league 2 team that would need to be seriously smart in how it invested to even think about getting out of the division.

[CEB]

Eagle Investments? Is this a joke?

What's so funny? It's usual to have a corporate structure such as this, one company owning another, for a myriad of reasons.

I believe there will be full details of the organisational chart in our US ultimate parent company's accounts, Rooosh Inc.

I thought the parent company was based in China?

[Max Fowler]

Really hope a fair whack of that loss is in longer term investments that will generate more income and make us more sustainable, as you have to wonder how long our board will be happy to subsidise that much loss every season.

Such as?

Any spend of that nature shouldn't be included in these figures, it should be on the balance sheet (there has been some £400k spent on assets - leasehold improvements/equipment etc - but that's in addition to the numbers you're talking about).

[Mistadobalina]

I have no idea, I'm leaving finance nerds to tell me whether we're doomed or not. But if it's revenue spend on setting up staff structures that will generate more income year round (proper hospitality and events revenue, commercial partnerships, investment in a youth academy that could generate more income through player sales), then that might makes us more sustainable. But I haven't the foggiest on how much additional cash orient can make outside of match days. Surprised we make as much money as we do.

[Orient Punxx]

Eagle Investments? Is this a joke?

Wyvern Investments ffs!

[spen666]

£1.1m trade debtors? What the hell is that?

Note that trade creditors has increased by a similar amount to trade debtors.

No it hasn't, the increases are nowhere near the same level.

How can we be owed over £1m from 'trade sales' at 30/6/22? Transfer fees?

Trade Debtors increased by approx £800k
Creditors increased by approx £900k

See notes 5 and 6 -it is all creditors figure not trade creditors figure

The point I made still remains

[slacker]

Eagle Investments? Is this a joke?

It would be great if Travis & Co plucked that name out of the air as a boardin’ hat-tip

[Real Al]

Eagle Investments? Is this a joke?

It would be great if Travis & Co plucked that name out of the air as a boardin’ hat-tip

That is a question that needs to be asked!

[Max Fowler]

Note that trade creditors has increased by a similar amount to trade debtors.

No it hasn't, the increases are nowhere near the same level.

How can we be owed over £1m from 'trade sales' at 30/6/22? Transfer fees?

Trade Debtors increased by approx £800k
Creditors increased by approx £900k

See notes 5 and 6 -it is all creditors figure not trade creditors figure

The point I made still remains

No, what you meant to type is 'Sorry, I got it wrong'. It is genuinely ok to admit to having made a mistake. The world will not collapse as the result of such an admission.

Trade debtors has increased by £809,667 (£1,135,370 - £325,703)

Trade creditors has increased by £387,169 (£561,802 - £174,633)

Even the most cantankerous old **** would be unable to argue these increases are similar.

[LittleMate]

Got a Link please ?

https://find-and-update.company-informa ... ng-history

[LittleMate]

I have no idea, I'm leaving finance nerds to tell me whether we're doomed or not. But if it's revenue spend on setting up staff structures that will generate more income year round (proper hospitality and events revenue, commercial partnerships, investment in a youth academy that could generate more income through player sales), then that might makes us more sustainable. But I haven't the foggiest on how much additional cash orient can make outside of match days. Surprised we make as much money as we do.

Misty, I don't think the loss should either (a) be taken lightly or (b) seen as a car crash waiting to happen. The extent of the loss was largely both known and planned. I've not looked at the parent, which is the investment vehicle, but reading on here it seems its fairly well funded. The board is going for success and it costs. Its at moments like this, when people post up about the owner being in it for a fast buck, that they should think where £15m+ fast bucks are going to materialise from so they can ride off with a profit.

[Max Fowler]

I've not looked at the parent, which is the investment vehicle, but reading on here it seems its fairly well funded.

3 million smackaroonies in the bank and 14 million worth of investments held - chefs kiss!

[Beradogs]

13.95m in Bitofacon.

[LittleMate]

I've not looked at the parent, which is the investment vehicle, but reading on here it seems its fairly well funded.

3 million smackaroonies in the bank and 14 million worth of investments held - chefs kiss!

Unfortunately the investments held is us!

[Max Fowler]

Oh. F***.

Right, any one know any other daft rich yanks who want to invest a few dollars our way?

[CEB]

I know an Italian one