2016-17 accounts are out

[Hitman34]

im dead hahaha

you love those hashtags corby

[Kevin Mcleod]

this guy has a different take on it...................


https://twitter.com/RuislipR/status/971393954045464576

If i was going to believe anyone it would be a geezer with ten times less followers than me on twitter.

[klonk]

thanks for the clarification klonk. your additional point makes for happier reading too.

with regards to the bank loan, was that the 15mil loan that was taken out with barclays? if so, that should have been paid up by now.

probably, but not sure... there was £4m left to pay at 31 may 2017 and it needed to be paid off within a year of that date (that could mean at any point between 1 june 2017 and 31 may 2018), but can't tell you any more than that.

[Hitman34]

probably, but not sure... there was £4m left to pay at 31 may 2017 and it needed to be paid off within a year of that date (that could mean at any point between 1 june 2017 and 31 may 2018), but can't tell you any more than that.

ok, thanks Klonk

niall has just confirmed what you have been saying about the equity point.......

@nrogers959
Replying to @RuislipR
Just looked back at this. The interest on this loan was converted into equity with 7,486,367,000 shares being issued in relation to the outstanding shareholder interest. Teach me not to read the small print #qpr #qprfinances

[Undecided]

i think it does...

2014-15 £45.7m
2015-16 £10.9m
2016-17 £6.4m

total £63.0m

...that said, under the original rules there were some costs which were exempt from the calculation (i think costs of youth development etc was one) - i don't know if that's still the case, but it could just bring us under if it still is.

Just when I thought I was getting this......

If the total losses for the last 3 years was £63m and we are permitted £13m loss per season isn't that £39m over three years. Some expenses are excluded, so how do you find the expenses that are deducted from income to arrive at the loss that counts against FFP?

[Kevin Mcleod]

ok, thanks Klonk

niall has just confirmed what you have been saying about the equity point.......

@nrogers959
Replying to @RuislipR
Just looked back at this. The interest on this loan was converted into equity with 7,486,367,000 shares being issued in relation to the outstanding shareholder interest. Teach me not to read the small print #qpr #qprfinances

I liked him better when he was in Chic.

[Hitman34]

Rather interestingly we have £4.3m of "assets under construction". I guess this must be related to the land we have on Old Oak Common and Warren Farm.

[Hitman34]

Must be added @Ruben_E_G is the only party that is currently lending the club money. £46m in all, an extra £12m in 16/17.

[James1979]

Is interest on shareholder loans accounted for in the FFP assessment? Would seem odd if it were.

[klonk]

Just when I thought I was getting this......

If the total losses for the last 3 years was £63m and we are permitted £13m loss per season isn't that £39m over three years. Some expenses are excluded, so how do you find the expenses that are deducted from income to arrive at the loss that counts against FFP?

first question: £13m is the allowed loss per championship season... in the prem, a club is allowed to lose £35m per season. because the first of the 3 seasons was in the prem the allowed loss is £61m (£35m + £13m + £13m).

second question is more tricky, because the ffp rules are really badly written, but i think we can exclude costs relating to:

- depreciation of tangible fixed assets (£1.5m in 16-17)
- women's football (£???)
- youth development (£???)
- community development work (£???)

almost certain that we'll have scraped under if this is correct.

rules are at part 2 of here: https://www.efl.com/-more/governance...y-regulations/

[klonk]

Is interest on shareholder loans accounted for in the FFP assessment? Would seem odd if it were.

does seem odd, but looks like it does - league work on Earnings Before Tax (as shown in the accounts) adjusted for costs relating to depreciation of tangible fixed assets, women's football, youth development and community development work. no mention of excluding financing costs and interest.

https://www.efl.com/-more/governance...y-regulations/

[Undecided]

first question: £13m is the allowed loss per championship season... in the prem, a club is allowed to lose £35m per season. because the first of the 3 seasons was in the prem the allowed loss is £61m (£35m + £13m + £13m).

second question is more tricky, because the ffp rules are really badly written, but i think we can exclude costs relating to:

- depreciation of tangible fixed assets (£1.5m in 16-17)
- women's football (£???)
- youth development (£???)
- community development work (£???)

almost certain that we'll have scrapped under if this is correct.

rules are at part 2 of here: https://www.efl.com/-more/governance...y-regulations/

Ah ha right, I'm getting there. Many thanks for your help

[corbray]

you love those hashtags corby

hahaha they're one of my favourite things of the forum

[Tarbie]

I hope they throw the book at this lot too.

http://www.bbc.co.uk/sport/football/43321872

[West Acton]

So in summary things/running of the club has improved at least off the pitch