Money, money, money

[Harry J Allstars]

Along with those Unc could you also post the financial details of your other business'?

[Uncle Urchin]

Originally Posted By: Harry J Allstars

Along with those Unc could you also post the financial details of your other business'?

what other business's would they be then harry...I am retired these days...

one cannot have it both ways harry....once your club took the money the club belonged to the new subscribers and they are therefore entitled to the information that is available (which of course they have been given with many disclaimers and subliminal threats of agonsing deaths should they dare reveal such mumbo jumbo) on a secretive and strictly membership only forum (one however that is on the WWW and is easily accesible by many) so not so secret after all really but you miss my point and I am surprised at you given your undoubted loyalty to the fleet...

why are the rank and file non MyFc members being isolated (see bridges thread)

[Hempstead Gaz]

I am unsure how MYFC will dish out the money, or when, but the cold stats are there are now 30,100+ members each giving (the club)

[Harry J Allstars]

Urchin, you can post them if you want, I really couldn't give a toss.

[doheochai]

Originally Posted By: Hempstead Gaz

I am unsure how MYFC will dish out the money, or when, but the cold stats are there are now 30,100+ members each giving (the club)

[Uncle Urchin]

Originally Posted By: doheochai

I try but people usually don't listen

I notice with much amusement that the balance sheet was missing....can you try and get that please...

[MrMushroom]

Originally Posted By: doheochai

Originally Posted By: Hempstead Gaz

Some will be set aside for new players.

Possibly yes - playing budget hasn't yet been discussed and voted on by the membership

Why not? We are now in one of the most intensive transfer periods of the year with players being signed up daily, but the Fleet are missing out because MYFC have not voted on it yet. By the time they get round to it all the good players will have signed for other clubs.

If this is an example of MYFC efficiency, then if PTT is ever implemented they'll be voting on the selection after the match is over.

[/rant]

[doheochai]

Originally Posted By: MrMushroom

Originally Posted By: doheochai

Originally Posted By: Hempstead Gaz

Some will be set aside for new players.

Possibly yes - playing budget hasn't yet been discussed and voted on by the membership

Why not? We are now in one of the most intensive transfer periods of the year with players being signed up daily, but the Fleet are missing out because MYFC have not voted on it yet. By the time they get round to it all the good players will have signed for other clubs.

I'll let Slarti answer that one - he did a very good job of it on MyFC.

[BustaGut]

I will tell you what doheochai, If Will Brooks, decides he is bored and liquidated MYFC Ltd, then you and the football side of MYFC are finished. Will Brooks owns and runs MYFC, no matter how many cut and pastes you do, and no matter how many times you deny Will Brooks is your Lord and master.

[Friejose]

Still waiting for you to post those figures Unc. The only reason I doubt you're a member is because you refuse to post over there, you refuse to say what your user name there is, and now you can't back up your words by posting the accounts.

 

You said you would. I'm actually a little disappointed in you.

[Harry J Allstars]

I am also wait for those Josh.

 

I doubt he's a member to be honest.

[Uncle Urchin]

as I posted earlier josh I was waiting for moderator approval before posting which I received early this morning whilst fast asleep dreaming of bridges...as a fully paid up democratic moonie and advocate of freedom for all I would have thought that you above all people would respect my right not to post on the cesspit and also respect my right to withold my user names from the masses....funny old world aint it josh..

 

harry...you really do talk total bollox and try to bully your way through life when things do not suit you....there is always someone bigger and better at that than you....try a little dignity as you get older...works wonders and builds bridges...

 

the figures are interesting as they show several anomolies related to the comments and disclaimers....for example 170k of loans have been repaid...presumably to the original shareholders (although I doubt the minor shareholders received anything to reflect their assistance and support over the years)...

 

there are vague comments related to DD and reading between the lines it looks as tho' I was right and that due dilligence took up the remainder of the 400k paid for the new share issue after the loans had been repaid...

 

there is no balance sheet which is not surprising as that would of course show the true debt position at ebbs....there is no information on the society or MyFc Ltd which is also understandable....far to transparent even for the financially uneducated moonie hordes....an unaccounted for figure of 166k appears without justification and one could guess that its perhaps money from nike although I very much doubt it there is a strange disclamer regarding mays cup final receipts although clearly whoever did the accounts has made up a figure and put it in for cosmetic reasons...shall we say its a projection..?

 

the final figures getting to the bottom line show a six month loss of 25k...take out the cup projected income and the 166k and its a loss approaching 400k...

 

all very cosmetic to be honest....

 

so there we are....just off now to have a look to see who harry bullied on the cesspit last night....certainly wouldn't have been his hero citizen brooks now would it...

 

enjoy...!!

 

 

 

Ebbsfleet United FC

 

Report on the financial

performance

for the six months to

31 May 2008

 

Ebbsfleet United FC

 

Contents of the Report

For the Period of 6 Months to 31 May 2008

 

 

Page

 

Basis of Preparation 1

 

Review of Financial Information 2

 

Interpretation of Results 3

 

Profit & Loss Account 4

 

Interpretation of Results 5

 

Details of Other Graphs 8

 

Match Day Income Graph 9

 

Attendance Graph 10

 

Aims for Next Report 11

 

 

Basis of Preparation

 

This report has been prepared to assist the Members of My Football Club Society Limited (the Trust) in reviewing the financial performance of Ebbsfleet United Football Club (the Club) since its acquisition in February 2008.

 

In particular it will deal with the following issues:

 

 

[PatMan]

Originally Posted By: doheochai

Originally Posted By: Hempstead Gaz

I am unsure how MYFC will dish out the money, or when, but the cold stats are there are now 30,100+ members each giving (the club)

[Harry J Allstars]

Wow that's really long Urchiniho. I can only hope that you didn't sit there and type all that out. Would've taken you ages. You take away a mans right to talk about bridges.....

 

Sorry about bullying you mate, us Kent lads just seem to railroad you Essex lot, we must just be better than you.

 

Now question is what clever person managed to log on to MyFC and find those for you, I can't believe you found them yourself,

[MrMushroom]

Originally Posted By: Uncle Urchin

there are vague comments related to DD and reading between the lines it looks as tho' I was right and that due dilligence took up the remainder of the 400k paid for the new share issue after the loans had been repaid...

Surely the costs of DD would have been the responsibility of MYFC not EUFC? As such they would not have come out of the monies paid for the new share issue but out of the remaining MYFC funds.

[MrMushroom]

It looks like the income from the sale of the new shares does not appear on these accounts. Presumably that would be found in the cash flow report and the balance sheet, neither of which have been published.

 

I presume that those who are shareholders of EUFC will get a full set of audited accounts in due course which will show this.

 

 

Given that the income from the FA Trophy final is shown on this P&L report, I assume it has been prepared on an accrual basis, but the basis of preparation statement on here does not give the basis of preparation (unless UU did not copy all the report over)

[behindthegoal]

...I for one wonder why certain non-myfc members, if so interested in the accounts, just don't pay

[Harry J Allstars]

Originally Posted By: behindthegoal

Democracy (however flawed) needs participation. If you don't vote in an election then don't moan about the Government because you have basically abdicated your responsibility.

Yeah but then what if you don't like any of the parties standing? Would you then force yourself to vote for the one you hate the least? Then what do you do when they do stuff that you don't like?

[MrMushroom]

Firstly, I am not anti-MYFC. When the deal was first announced I welcomed it as I think that, on balance, it will benefit the club as long the idea works as it should (still not sure about PTT, though). I still have an open mind about it, but see some worrying things which I am currently putting down to the fact that it is a new venture which is still to settle down to BAU. As you say, nothing is perfect. My hope is that MYFC will endure and will mature into an excellent model of ownership.

 

Secondly, if what UU has posted here is the full set of information posted on the MYFC site, then MYFC members are not getting a full set of accounts, so joining would not help in that respect.

 

Thirdly, if it were possible I would buy shares in the club directly (thus becoming a real owner not a notional one). That would also mean I would receive full financial disclosure and could question the EUFC directors at the AGM.

 

Fourthly, with the number of clubs going into administration, I would expect any fan/supporter to be interested in the accounts of their club.

 

Fifthly, with 2 children at university and a large mortgage I would prefer to spend what little disposable income I have on watching games live (when work allows me to get there).

[behindthegoal]

...yes Harry most voters have to vote for the party they like most or dislike least as it would be hard to support every policy of a party 100%.

 

As to Mr Mushroom it is easy to come up with reasons not to do something but harder to commit.

 

As I said before it is easy to criticise from afar. Get inside the tent and have a say. Just don't expect members rights for free.