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SUFC Acocunts Overdue

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  • July 11, 2023 at 10:01 am #266274
    ironfromafarironfromafar
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    Ive read the accounts and same as AA i aint no numbers guy (precisely the reason i employ an accountant) but this is a perfect in for another IB fair n balanced post to explain all.. im sure he will be along very soon quicker than 2 rounds of well done crusty farmhouse in my pop up toaster.

    July 11, 2023 at 10:02 am #266276
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    Deereyme66 wrote:

    Debts serviced by further loans. That’s a big concern as it leaves club very precarious. Or should I not be bothered about this? Happy to see sensible replies. Just a point and question. Thanks.

    I wonder what & whom wrote off the £600K loan?

    July 11, 2023 at 10:05 am #266277
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    Iron-awe wrote:
    64 wrote:

    it means that a guy who had a record of filing late has filed late again.
    how is the truth shite?

    …and still they keep rolling off the tongue. They have been filed, who cares🤔

    May be we should all care?
    ‘Technically insolvent’
    Worrying.

    July 11, 2023 at 10:14 am #266278
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    sufc_not_on_tour wrote:

    I’m no businessman but from what Kieran Maguire who’s an expert in football finance we should be extremely concerned.
    The accounts show that Swann was pumping in £2 million a year of his own money to keep the club going until he pulled the plug.
    Seeing has Hilton obviously doesn’t have access to that amount of his own finance, if he had he wouldn’t be intimating he will finance it through loans surely, or perhaps that’s the way businessman operate now.

    I only see one outcome, unfortunately it’s the one none of us want.

    If the club isn’t self sustaining then how is DH going to pump a million or so a year in to it… he seems to be struggling to purchase as it is?
    Loans to repay loans? An ever increasing spiral of debt?
    We need DH or a supporter to drop a Euromillions win!

    July 11, 2023 at 10:45 am #266280
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    Anonymous wrote:
    Deereyme66 wrote:

    Debts serviced by further loans. That’s a big concern as it leaves club very precarious. Or should I not be bothered about this? Happy to see sensible replies. Just a point and question. Thanks.

    I wonder what & whom wrote off the £600K loan?

    Kieran Maguire:
    “Loan to Coolsilk & interest of over £400k written off in 21/22. Club has interest free loan from EFL & separate loan of almost £1.5m”

    July 11, 2023 at 1:29 pm #266298
    IronaweIronawe
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    So the next set of accounts will incorporate DH input

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