The 2009 Accounts - a review

[jonno]

qprdad

Can you please clarify the loss in last 12months, am I reading it right?

Is it 5 million and some change? Though overall debt is much higher (21 million)

QPR FC itself made a light profit?

QPR Holdings made the loss?

The LOSS for the year was about £19/20 million as I've already posted. The fact that further shares were issued and bought for £15 million means that someone has put that amount in, but it doesn't negate the LOSS. And most of that loss was due to your Italian friend. Still think he does a good job?

[qblockpete]

SPIN

Nothing to do with friendships !!!!!!!!

Get it right, caluculate it right and then come back.

Instead of getting personal, stick to the facts.

[jonno]

SPIN

Nothing to do with friendships !!!!!!!!

Get it right, caluculate it right and then come back.

Instead of getting personal, stick to the facts.

They ARE the facts. Loss of £20 million in ONE YEAR. £15 million ploughed back in to cover 75% of that loss. And that's LAST years figures - this years will be a lot worse.

[qprdad]

What kind of things would QPR FC include?

(not talking holdings)

Its sales are all management fees made to Holdings, and its costs are player registrations, and the wages of the club.

But, don't get bogged down with this company, the consolidated Holdings accounts show the true position.

[vblockranger]

The LOSS for the year was about £19/20 million as I've already posted. The fact that further shares were issued and bought for £15 million means that someone has put that amount in, but it doesn't negate the LOSS. And most of that loss was due to your Italian friend. Still think he does a good job?

qprdad you seem to know what you are on about :-) ^^^^^ is this right?
its actually been run at a £20 million loss until someone lumped an amount in?

[Boo Radley]

Dad

A negative balance sheet = Insolvent doesn't it?

[qprdad]

qprdad you seem to know what you are on about :-) ^^^^^ is this right?
its actually been run at a £20 million loss until someone lumped an amount in?

The accounts show that we made a £20,928,000 loss for the year to 31.5.09.

This loss is cast in stone......

As this loss is being made, certain loans and extra share issues have occured to fund the losses, but the fact remains that the loss was just shy of £21m!

Lucky we've got rich owners!

Oh!, and thanks for the complement!

[qprdad]

Dad

A negative balance sheet = Insolvent doesn't it?

That is correct. However, we have not been trading fraudulently as the company can still meet its debts as and when they fall due, because of the support of the owners.

[vblockranger]

so guess we are just really lucky that Bernie and Flabio was there to pick up the pieces after that debacle of a year.....£20 million loss!! someone needs to be shot.

[qprdad]

so guess we are just really lucky that Bernie and Flabio was there to pick up the pieces after that debacle of a year.....£20 million loss!! someone needs to be shot.

Yes, but in other respects - was Flabio one of the reasons the loss was so high?

[Bigears]

Thanks QPRDAD, never thought anyone would be able to put it away that i could understand

Can I ask what is the point of having two companies a) QPR holding company and b) and QPR FC

[qprdad]

Thanks QPRDAD, never thought anyone would be able to put it away that i could understand

Can I ask what is the point of having two companies a) QPR holding company and b) and QPR FC

There can be various reasons, however the most probable one would be that the original company has title to LR etc, and a holding company was the easiest way of raising capital / transferring shares etc.

The most commonplace way would be to have all of the assets in a holding company e.g. the gorund, and then have a trading subsidiary which pays rent to the parent. This would then protect the ground etc from adverse trading conditions i.e. the subsidiary can go bust, but you still own your ground etc.

The structure seems a little lumpy and messy, but as it's not doing any harm I should imagine that the board didnt see the need to ponce about changing things!

[Bigears]

Thank You

[W12_Ranger]

The accounts show that we made a £20,928,000 loss for the year to 31.5.09.

This loss is cast in stone......

As this loss is being made, certain loans and extra share issues have occured to fund the losses, but the fact remains that the loss was just shy of £21m!

Lucky we've got rich owners!

Oh!, and thanks for the complement!

Just like to say thank you for your clarification on this point, I knew we would get there in the end.

In lamen terms we lost £20 million for 2008/9 and another £15 million had to be pump into the coffers just to finance this shortfall through a share issue + loans.

Everything is ok though the QPR FC accounts made a small profit, so small in infact you'd barely be able to buy a 2 bed flat in Shepherds Bush with it.

This just demonstrates the extent Paladini's incompetance at handling transfers and contracts even with Briatores penny pinching as I suspect thats what makes up a large slice of the £20 million figure.

Meanwhile QBP is all over the place......

[ScottJones]

Massive thanks qprdad for taking the time to explain all of that..makes a alot more sense.!

Cheers