Madejski Announcement

[FiNeRaIn]

lmao its all kicking off today....loving it.

[brendywendy]

We do have money left, the club have said we are looking at players. Madejski said things will happen.

But the point is we are now left making a panic decision to buy "someone" to appease the fans. We knew we were short at CB months ago and we must have known that Long was also off - so surely a million or so should have been available to buy an experienced CB earlier in the transfer window when several good options were available.

i post my first vaguely questining Jm in months, and then you force me to go back to my original positio0n almost imediately.

how the hell do you know what surely must be available or not.

[brendywendy]

Its time for complete panic. Worrying times ahead.

[URZZ]

lmao its all kicking off today....loving it.

[FiNeRaIn]

2/2 laughs today!

Keep this up and I'll have squared my rubican!

[URZZ]

Yeah, let's write off players before they've even kicked a ball because any signings made in the 20's of August are bound to be bollocks.

Period.

[brendywendy]

songs for the next game

to the tune of wheres your mama gone - Wheres the money gone

to the tune of another brick in the wall - all in all just another black hole

chant - love you Johnny LONG time

tears of hilariousness

[Royal Rother]

Perfectly sums up a lot of this board though. Every time a team spends some money and loses a game they are deemed a massive failure...the same people tell all the reading fans to stop complaining after one defeat and that it'll all be fine. Ipswich will be a lot higher come the end of the season.

Whereas of course the virtual opposite is also true.

Every time we lose a game or 2 the club is deemed a massive failure and heading for relegation and oblivion.... and then somehow it doesn't seem to happen.

[brendywendy]

But it was quite a lot of money?

Well it’s not a lot. If you look at our wage bill, and I wish somebody would and see how it all computes then you'll realise that nobody is taking money out of the club. I have never taken money out of the club ... ever.

That is an interesting challenge he has laid down. I know we have some qualified accountants among the HNA massive, so how about one of you taking up his kind offer and taking a look at the latest wage bill (and the rest of the accounts) to see if it substantiates his statements.

LOL. a million times. each time it is confirmed that JM isnt taking any money out of the club, and that our wages eat up most of the money we bring in. keep asking though, its a great question

[Tinrib]

Last set of audited @ June 2010, with previous years for comparison

Havent got time to write an appriasal, however would add that RFC are a very well run club, any questions let me know & I'll answer later


P&L 30-Jun-10 30-Jun-09 30-Jun-08
Net Sales 27,665,455 25,716,994 51,574,819
Cost of sales 0 0 0
Gross Profit / (loss) 27,665,455 25,716,994 51,574,819
General Expenses 23,627,473 31,451,373 37,246,872
Other Operating Income 324,869 322,619 324,819
Other Operating charges 6,030,974 6 ,707,274 7,576,357
Net Operating Income -1,668,123 -12,119,034 7,076,409
Interest receivable 141 4,965 18,038
Other financial income 4,039,365 16,270,801 392,857
Total Financial Income 4,039,506 16,275,766 410,895
Interest Payable 505,306 412,670 655,542
Total Financial Expenses 505,306 412,670 655,542
Profit / (Loss) Before Taxes 1,866,077 3,744,062 6,831,762
Profit / (Loss) After Taxes 1,866,077 3,744,062 6,831,762
Net Income 1,866,077 3,744,062 6,831,762
Dividends 0 0 0
Retained Profit for the year 1,866,077 3,744,062 6,831,762

Reconciliation
Retained Earnings at start of year
-13,280,250 -17,024,312 -23,856,074
Retained Profit for the year 1,866,077 3,744,062 6,831,762
Retained Earnings at end of year-11,414,173 -13,280,250 -17,024,312

NOTES

Payroll 18,124,214 25,517,404 31,094,381
Depreciation 5,503,259 5,874,741 6,152,491
Directors Remuneration 0 0 0



Balance Sheet Fiscal Fiscal Fiscal
Non consolidated Non consolidated Non consolidated
GBP GBP GBP
30-Jun-10 30-Jun-09 30-Jun-08
FIXED ASSETS
Other Intangibles 3,307,861 5,548,996 8,880,273
Total Intangible Assets 3,307,861 5,548,996 8,880,273
Land & Buildings 31,626,697 33,105,514 34,373,328
Fixtures & Equipment 427,080 619,796 763,198
TANGIBLE FIXED ASSETS 32,053,777 33,725,310 35,136,526
Long Term Investments 2 2 2
Total Fixed Assets 35,361,640 39,274,308 44,016,801

CURRENT ASSETS
Other 289,363 329,092 331,891
Stock & work in progress 289,363 329,092 331,891
Cash at bank / in hand 2,679,869 3,625 4,000
Trade Debtors 4,961,919 11,328,024 2,930,493
Other receivables 125,377 81,445 27,356
Prepayments 697,012 785,929 1,936,963
Amounts owed by group companies14,496 48,294 152,519
Total Current Assets 8,768,036 12,576,409 5,383,222

CURRENT LIABILITIES
Trade Creditors 1,488,794 2,091,984 2,130,115
Accruals / Deferred Income 6,054,279 7,743,836 9,373,652
Bank loans & overdrafts 95,349 6,263,162 7,643,550
Loans Payable 2,247,674 8,858,542 89,933
Amounts due to directors 8,744,490 - 8,760,649
Tax & Social Security 1,241,595 2,116,771 2,380,155
HP/Lease payments due in 1 year 27,121 52,197 38,921
Other Current Liabilities 163,668 3,130,833 140,142
Total Current Liabilities 20,062,970 30,257,325 30,557,117

Net Current Assets (Liabilities) -11,294,934 -17,680,916 -25,173,895

Total Assets less Current Liabilities 24,066,706 21,593,392 18,842,906

LONG-TERM LIABILITIES

Amounts due to group companies 14,617,949 14,617,949 14,617,949
Other Borrowing/Mortgages & Loans 122,283 217,633 325,777
HP due after 1 year - 27,120 -
Other long term liabilities 13,465,647 12,735,940 13,648,492
Total Long Term Liabilities 28,205,879 27,598,642 28,592,218

Net Assets -4,139,173 -6,005,250 -9,749,312
Net Worth / Shareholders Funds

Issued Share Capital 750,000 750,000 750,000
Share Premium Account 6,525,000 6,525,000 6,525,000
Retained Earnings / Profit & Loss Account -11,414,173 -13,280,250 -17,024,312
Equity Shareholders Funds -4,139,173 -6,005,250 -9,749,312

Tangible Net Worth -7,447,034 -11,554,246 -18,629,585

[FiNeRaIn]

Perfectly sums up a lot of this board though. Every time a team spends some money and loses a game they are deemed a massive failure...the same people tell all the reading fans to stop complaining after one defeat and that it'll all be fine. Ipswich will be a lot higher come the end of the season.

Whereas of course the virtual opposite is also true.

Every time we lose a game or 2 the club is deemed a massive failure and heading for relegation and oblivion.... and then somehow it doesn't seem to happen.

I agree, but people cracking out " we don't want to spend money like ipswich...look at them haha shit retards" after two games is ridiculous.

[Royal Lady]

^ Those figures above are for RFC Holdings right? What constitutes RFC Holdings please? Does it not encompass the hotel?

[brendywendy]

1) I don’t understand
2) I don’t understand
4)I don’t understand
5) I don’t understand
6) I don’t understand
7) I don’t understand


?

[southbank1871]

Where's the £25m we spent on the hotel refurb?

[T.R.O.L.I.]

Perfectly sums up a lot of this board though. Every time a team spends some money and loses a game they are deemed a massive failure...the same people tell all the reading fans to stop complaining after one defeat and that it'll all be fine. Ipswich will be a lot higher come the end of the season.

Whereas of course the virtual opposite is also true.

Every time we lose a game or 2 the club is deemed a massive failure and heading for relegation and oblivion.... and then somehow it doesn't seem to happen.

I agree, but people cracking out " we don't want to spend money like ipswich...look at them haha shit retards" after two games is ridiculous.

Indeed.

Can anyone remind me which team in League 1 in the season 2009/10 happened to lost their first game of the season 7-1? Can they also remind me which league said team is in now?

[Yellowcoat]

Have you even bothered to look at the figures above your posting FR or will you continue to spout your ill informed nonsense?

[brendywendy]

Wasn't Madejski quoted as wanting £80m for us?

1st year down, pre recession.

im kinda hoping this has reduced a tad.

[Royal Rother]

Perfectly sums up a lot of this board though. Every time a team spends some money and loses a game they are deemed a massive failure...the same people tell all the reading fans to stop complaining after one defeat and that it'll all be fine. Ipswich will be a lot higher come the end of the season.

Whereas of course the virtual opposite is also true.

Every time we lose a game or 2 the club is deemed a massive failure and heading for relegation and oblivion.... and then somehow it doesn't seem to happen.

I agree, but people cracking out " we don't want to spend money like ipswich...look at them haha shit retards" after two games is ridiculous.

Well yes, I do agree with that. (Common ground eh?)

Look at Norwich 2 years ago! (Ah, beaten to that point...)

And anyway, anyone who says "haha shit retards" (if anyone actually did) needs to have a look at themselves.

[southbank1871]

Have you even bothered to look at the figures above your posting FR or will you continue to spout your ill informed nonsense?

I think I know the answer to that question.

[Tinrib]

^ Those figures above are for RFC Holdings right? What constitutes RFC Holdings please? Does it not encompass the hotel?

The hotel is a subsidiary Co. of The Reading Football Club Ltd, and the numbers above are the trading figures for same.