Accounts - June 2023

www.afcb.co.uk

Club release annual accounts for 2023

Financial statements for the year ended 30 June 2023 have been released, with the club recording pre-tax profits of £44.5m (2022: loss of £55.5m).
www.afcb.co.uk www.afcb.co.uk

the club recording pre-tax profits of £44.5m (2022: loss of £55.5m).

The accounts reveal turnover was up by £87.8m to £141.0m (2022: £53.2m). This increase is mainly attributable to the increased distributions that flow to the club as a result of its full membership of the Premier League.

The club recorded an operating profit of £52.1m (2022: loss of £48.7m). The club also recognised a gain of £71.4m (2022: £nil) upon the write-off of shareholder loans.
 
Right, so who is the resident expert on FFP, share acquisition, loans written off and new loans, and infrastructure offsets ?
Bet there are a few poring through it right now !!
 
redharry said:
Right, so who is the resident expert on FFP, share acquisition, loans written off and new loans, and infrastructure offsets ?
Bet there are a few poring through it right now !!
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Definitely not me. The headline of sizable pre-tax profits sounds great but surely you can't just write off loans from the shareholders and everything is fine and dandy.
 
SlowDownDerek said:
Definitely not me. The headline of sizable pre-tax profits sounds great but surely you can't just write off loans from the shareholders and everything is fine and dandy.
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I’m pretty confident that you can’t (for ffp purposes) unless there is a change of owner.
 
SlowDownDerek said:
Definitely not me. The headline of sizable pre-tax profits sounds great but surely you can't just write off loans from the shareholders and everything is fine and dandy.
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Nor me SDD. No idea about loan write offs except I think they are O.K. if replaced by new share capital. Some of the loans seem to have been written off and replaced by new ones.
 
ErikthViking said:
Are they not the repayment of Demin's loans?
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ErikthViking said:
Are they not the repayment of Demin's loans?
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Certainly £89.8 million was a new loan that was used to repay exactly the same amount of Demins loan. So thats like for like and in effect the payment to buy the club.. The new replacement loan is interest free and unsecured. The club also secured a £30M line of credit for the training ground
The club then took out a new loan of £67M after this accounting period so not included.
 
SlowDownDerek said:
Can you just write off shareholder loans and the FFP rules are fine with it?
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Very much not an expert but I'll have a crack.

FFP is £15M allowable loses for the club and the rest of the allowance has be through share purchase.

This sounds like neither but unless there's something creative you can do with the books it wouldn't influence profit either.
 
Well, if Bill's astute enough to become a 1.6 Dollar Billionaire, I'm willing to accept he and his accountants know enough about FFP to differentiate between their assets and their elbows : )

Bill owns the train now and he's driving it. He knows his destination, we'll either get there or it'll end up derailed. Either way, it's his train on his railroad, all I can do is remain as a passenger for as long as I can. The scenery's the same, whether we derail at the next bend or we're closer to the final destination. I'm enjoying the countryside immensely at the moment : )
 
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