Alarming! Are we going bust.

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bigshaka'away'
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Alarming! Are we going bust.

by bigshaka'away' » 25 Mar 2019 16:03

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windermereROYAL
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Re: Alarming! Are we going bust.

by windermereROYAL » 25 Mar 2019 16:12

Financial fair play, it`s not that hard to find

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From Despair To Where?
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Re: Alarming! Are we going bust.

by From Despair To Where? » 25 Mar 2019 16:33

And yet there were figures posted on here a couple of weeks ago from a verified independant source for the same period that painted a considerably less alarming picture

Bigtimmeh
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Re: Alarming! Are we going bust.

by Bigtimmeh » 26 Mar 2019 13:09

Companies house documents can be found here https://beta.companieshouse.gov.uk/comp ... ng-history

They show that RFC made a big loss of around 23m 17-18 and the overall shareholder deficit (assets minus liabilities) is in the low 30s. Despite this, year 16-17 the club made a small profit which (I think) makes us safe from FFP (as is assessed over 3 years - acceptable losses are 5-13m per season).

However, I imagine the finances aren't too good for this season either.. in all likelihood the club will have to return to profit next season to avoid FFP.

All of the above is based on assumptions - it may be possible for the club to allocate some of yhe losses to areas they are permitted and avoid FFP that way. It also depends how much the owners have paid in to cover losses..

Attached is a summary from the company accounts...
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EverHopeful
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Re: Alarming! Are we going bust.

by EverHopeful » 26 Mar 2019 21:12

no we are not !!! no external debt to speak of, owners that have just subscribed to £25M of new shares, a £60M loan facility, a profit last financial year (2017) - need i go on.........FFP might be more of an issue but i suspect the new training ground costs will be excluded and they must be substantial and unless capitalised are in the 2018 accounts (can't be arsed to look). suspect we are fine for rolling three years - might change as we go forward unless costs are cut but we have at least a year to sort this bit out


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