DORKING FOOTBALL CLUB - THE FACTS

[DorkingDave]

Originally Posted By: eye1

£10,000 over a two year period is not a lot of money, and can easily be spent without any noticible differences.

The way you two are talking Black holes and things, Dorking FC is not a major PLC, but just a small club with the budget of a tiny corner shop. Get real?

Leashold Improvements £
1 June 2002 51,582
31 May 2003 51,582
1 June 2004 61,582
31 May 2005 61,582

So the 10k spent was between 31st May 2003 & 1 June 2004.

Turnover

2002 £29,849
2003 £27,647
2004 £32,001
2005 £47,923

Administrative expenses

2002 (£14,697)
2003 (£13,942)
2004 (£21,817)
2005 (£22,353)

Profit

2002 £376
2003 £408
2004 £13,517
2005 £6,077

I assume the brackets mean something in the admin expenses, not an accountant, don't know.....

[eye1]

To make proper sense of accounts you need the full set, companies house only get an abreviated set.

[Jeff Hamnett TSF]

well googled. eye 1 I thought you knew about these things.

 

now whats a leasehold improvement?

[Jeff Hamnett TSF]

costs are in brackets dorking dave

[eye1]

Like I said TSF you need the full set without them you can guess all you want?

[eye1]

Brackets is a debit figure

[DorkingDave]

Thanks, so that we cover rent, electric, water that kind of stuff then?

[eye1]

I do not realy see anything sinister about the accounts,and the pair of you seem to be picking on breadcrumbs?

[Jeff Hamnett TSF]

well here's my guess then eye1.

 

The leasehold improvements are in the tangible assets at 60 000 pounds

 

They are not something that the club can sell, therefore shouldnt be there.

 

So the club is 60 000 pounds worse off than the accounts are showing,ie seriously skint broke and potless.

[eye1]

The £60,000 also includes cash, and I would say that most Companies assets in England would not fetch what the accounts say, it is a way of lowering the corporation tax you pay.

[DorkingDave]

You are probably right eye1, just bitter and twisted at being banned after following the club for more than a decade, home and away some seasons.

 

Would have liked my boys club to feed into DFC, that sort of thing.

[Chris Clapham]

Originally Posted By: DorkingDave

You are probably right eye1, just bitter and twisted at being banned after following the club for more than a decade, home and away some seasons.

Would have liked my boys club to feed into DFC, that sort of thing.

Could you not try again?

[eye1]

But why can't you all get together and find a way round this, I think it is in the best interest of all parties concerned now including fans. People are laughing at all of you now? sort it out

[Jeff Hamnett TSF]

that sort of thing dave yes but eye 1 is right when he says you need to see the books to get a full idea, profit and loss sheets.

 

DFCL publish only the bare necessities which is fair enough.

 

These leasehold improvements may be what the club has spent, but the accounts are saying that there is a value of 60000 for improvements.

 

now when you see what the club owes, it would need to be able to use that 60000 pounds if everyone asked for their money immediately.

 

it couldnt use that money as it doesnt really exist, so they are, as anyone would understand it, bust.

 

 

 

 

[Jeff Hamnett TSF]

The £60,000 also includes cash,

 

no it doesnt eye1 its leasehold improvements only

 

 

and I would say that most Companies assets in England would not fetch what the accounts say,

 

probably right but not to this extent 60 000 to zero!

 

it is a way of lowering the corporation tax you pay.

 

total tosh its a way of hiding the true value of the company.

 

 

[eye1]

I meant that if this current year you were making to much profit you could write down the values of some of your stock or assets, which reduces your profit.

[Jeff Hamnett TSF]

write down , yes, maybe but not overvalue, and not for 20 years!

 

that would be dishonest eye 1.

 

 

[eye1]

I'm not sure on the overvaluation but if no depreciation has been set against the assets then they probably will be overvalued that's why you then write down now and then, nothing dishonest, they have not got shareholders to show they are making a loss or profit.

 

It is mostly a taxation thing which most small companies always have a problem with.

[Jeff Hamnett TSF]

they have got shareholders.

[Jeff Hamnett TSF]

an asset for example a computer or a piece of machinery is written off over its useful life.

 

we are talking here about painting the walls or cutting the grass and saying the value of the company has increased by a 100 pounds