Accounts to 30th June

[Kowalski]

We seem to be in fairly good shape.

https://www.afc.co.uk/2017/11/25/latest-accounts-show-strong-results-aberdeen-football-club/

 

Wages have increased quite a bit but wages to turnover ratio is 51% which is decent.

[TheDeeDon]

Over 400k going out to directors is shocking in my opinion.

 

Just noticed our bankers are HSBC, they are the huns of the banking world, a horrible institution and our Auditors Deloitte are pretty much the same IMO.

 

Duncan Fraser has earned his corn once again with some fine financial chicanery going on.

[Kowalski]

Every silver lining.

[tom_widdows]

 

Just noticed our bankers are HSBC, they are the huns of the banking world, a horrible institution

you mean 'the world's favourite bank'. The same one that asked my GF if Australia was in the EU and has a habit of blocking your cards should you dare spend a single penny anywhere south of the Isle of Wight

[manc_don]

you mean 'the world's favourite bank'. The same one that asked my GF if Australia was in the EU and has a habit of blocking your cards should you dare spend a single penny anywhere south of the Isle of Wight

 

Never once had a problem with them. Only temporarily blocked my account when I withdrew money in Serbia without telling them. Fair game I thought!

 

Anyway, good to see we’re doing reasonably well.

[ayrshire_don74]

can some accounting boffin comment on the exceptioanal  impairment costs which show as an overall loss ?

[Jute]

can some accounting boffin comment on the exceptioanal  impairment costs which show as an overall loss ?

 

Think it is something to do with an asset having a market value less than that listed in the previous accounts. Only thing I think this could refer to in our case is the stadium but that is a guess on my part.

[Guest kiriakovisthenewstrachan]

Yes, correct Jute.

 

The value of Pittodrie in the last accounts was £18M.  The expected value of selling the site for property development is £15.25M therefore the difference has been written off in the accounts this year.  A paperwork exercise really so that the asset value is correctly stated in the accounts. 

[RicoS321]

Or at least it would be a paper exercise if we weren't actively trying to sell it.

 

Revaluing the property downwards just before selling it to our property developing chairman on the cheap for him to build hooses on Pittodrie....... it's a conspiracy.

[Guest kiriakovisthenewstrachan]

Revaluing the property downwards just before selling it to our property developing chairman on the cheap for him to build hooses on Pittodrie....... it's a conspiracy.

Ats a bit cynical Rico. 

 

Rocket will be desperately trying to post an anti-Milne statement shortly.