6.5 million loss!!!!

[sawyers left arm]

Had the accounts today and that is the loss for last year. I find this astounding but what is more incredible is the £18,000 the chairman received for the use of the training ground. Laughable! This man is touted as the hero of Reading but looking at things like that just reminds me that he is in fact a BUSINESS MAN and don't forget it!

[Royal Rother]

Eighteen Thousand Pounds! You have a problem with that?!

[M4 Junction 11]

things like that just reminds me that he is in fact a BUSINESS MAN!

[A1ndy]

Had the accounts today and that is the loss for last year. I find this astounding but what is more incredible is the £18,000 the chairman received for the use of the training ground. Laughable! This man is touted as the hero of Reading but looking at things like that just reminds me that he is in fact a BUSINESS MAN and don't forget it!

Where did you read this then or hear about this?

Because I cant find this anywhere!

[poohs pure]

Had the accounts today and that is the loss for last year. I find this astounding but what is more incredible is the £18,000 the chairman received for the use of the training ground. Laughable! This man is touted as the hero of Reading but looking at things like that just reminds me that he is in fact a BUSINESS MAN and don't forget it!

here are the latest set of brief accounts on our works internet search jobber

Company Reg No: 03889049
Company Name: THE READING FOOTBALL CLUB (HOLDINGS) PLC
Registered Address: MADEJSKI STADIUM
JUNCTION 11 M4
READING

RG2 0FL
Telephone No:
Date of Incorporation: 06/12/1999
Parent Company:
Parent Company Reg No:

--------------------------------------------------------------------------------

Type of Company:
Principal Activities: A group engaged in the operation of a football club and the provision of hotel and leisure related facilities.
Sic Codes: Operation OF sports arenas AND stadiums
Licensed hotels AND motels

Credit Score: Removed
CCJ Flag: Removed
Company Secretary: BRYAN STABLER

--------------------------------------------------------------------------------

Company Directors: IAN MICHAEL WOOD SMITH
ROBERT JOHN MADEJSKI

--------------------------------------------------------------------------------

Date of accounts: 30/06/2005 30/06/2004 30/06/2003

No of weeks: 52 52 52

No of employees: 438 391 403

('000) ('000) ('000)

Total sales: 15118 15590 14903

Pre tax profit: -4,554 -1,856 -1,616

Fixed assets: 47,110 47,138 47,810

Current assets: 2,841 2,667 2,476

Net assets: 13,392 17,499 19,173

Long term liabilities: 15,776 15,329 15,146

Current liabilities: 36,559 32,306 31,113

Net worth: -5,102 -403 1,055

all amounts are in Pounds Sterling (GBP )

and the fc ltd

company details
Company Reg No: 00053703
Company Name: THE READING FOOTBALL CLUB LIMITED
Trading Address: Madejski Stadium
Junction 11 M4
Reading
RG2 0FL
Telephone No: 01189681100
Date of Incorporation: 11/08/1897
Parent Company: THE READING FOOTBALL CLUB (HOLDINGS) PLC
Parent Company Reg No: 03889049

--------------------------------------------------------------------------------

Type of Company:
Principal Activities: A professional Football League club.
Sic Codes: Other sporting activities NOT elsewhere classified

Credit Score: 50
CCJ Flag: Y
Company Secretary: BRYAN STABLER

--------------------------------------------------------------------------------

Company Directors: IAN MICHAEL WOOD SMITH
ROBERT JOHN MADEJSKI

--------------------------------------------------------------------------------

Date of accounts: 30/06/2005 30/06/2004 30/06/2003

No of weeks: 52 52 52

No of employees: 335 290 308

('000) ('000) ('000)

Total sales: 9915 10500 10187

Pre tax profit: -5,039 -2,238 -1,832

Fixed assets: 31,297 30,775 30,816

Current assets: 5,508 6,007 5,856

Net assets: 14,449 19,041 21,085

Long term liabilities: 30,394 29,946 29,753

Current liabilities: 22,356 17,741 15,587

Net worth: -17,215 -11,932 -9,994

all amounts are in Pounds Sterling (GBP )

as you can see the year end is June (which would make sense as the seasons ends in may) so not sure what accounts you have now??

[Stranded]

Had the accounts today and that is the loss for last year. I find this astounding but what is more incredible is the £18,000 the chairman received for the use of the training ground. Laughable! This man is touted as the hero of Reading but looking at things like that just reminds me that he is in fact a BUSINESS MAN and don't forget it!

Wow disgraceful. Exactly how much money did he loan/pay in to the club over the same period?

[Quagmire]

Had the accounts today and that is the loss for last year. I find this astounding but what is more incredible is the £18,000 the chairman received for the use of the training ground. Laughable! This man is touted as the hero of Reading but looking at things like that just reminds me that he is in fact a BUSINESS MAN and don't forget it!

I look forwards to you raising this at the AGM in December when he asks if there are any questions!

[Royalcop]

ROBERT JOHN MADEJSKI

[sawyers left arm]

What you all fail to realise is JM doesn't give any money he loans it to the club. He will recoup every penny when he sells and more. His interest on his loans to the club last year was £1.5M. Coincidence that Seol cost 1.5M?

[Quagmire]

What you all fail to realise is JM doesn't give any money he loans it to the club. He will recoup every penny when he sells and more. His interest on his loans to the club last year was £1.5M. Coincidence that Seol cost 1.5M?

No he will not. He will be selling a company with the loans in place. This will mean whoever buys the club will be buying the debt and will need to pay it back. Thus the purchase price will be reduced in light of this.

If someone bought Man Utd now with all the debt, would they pay the same price as they would have done before the Amercians came in.

Simple answer is no!

[cheeryoleary]

ROBERT JOHN MADEJSKI

One Bob Madejski.... There's only one Bob Madejski

Mind you.... I'm sure he has more than one bob.

[strap]

What you all fail to realise is JM doesn't give any money he loans it to the club. He will recoup every penny when he sells and more. His interest on his loans to the club last year was £1.5M. Coincidence that Seol cost 1.5M?

No he will not. He will be selling a company with the loans in place. This will mean whoever buys the club will be buying the debt and will need to pay it back. Thus the purchase price will be reduced in light of this.

If someone bought Man Utd now with all the debt, would they pay the same price as they would have done before the Amercians came in.

Simple answer is no!

Of course you all do know that Mr Mad's loans to RFC and the Hotel are all repayable ON DEMAND.

To be fair I believe the interest rate he charges on the RFC loans is 0.5% BELOW base rate, and for the hotel is 0%. However, that was on the accounts for 04-05, so things may have changed?

SLA - Any chance of a copy of the latest accounts for the usual fee?

[Row Z Royal]

ROBERT JOHN MADEJSKI

http://en.wikipedia.org/wiki/John_Madejski

[Super_horns]

Oddly enough our results were the same!

Think we paid out 3 million in promotion bounses...

[Quagmire]

Of course you all do know that Mr Mad's loans to RFC and the Hotel are all repayable ON DEMAND.

To be fair I believe the interest rate he charges on the RFC loans is 0.5% BELOW base rate, and for the hotel is 0%. However, that was on the accounts for 04-05, so things may have changed?

SLA - Any chance of a copy of the latest accounts for the usual fee?

I am aware but this makes little difference. If he demanded the loans were repaid now, the club in its current position couldn't pay therefore would need to secure bank loans to pay him back. Therefore loans would still be in place for the same value.

If the club could afford to pay him back with spare cash sitting in a bank (no chance but for the sake of argument), the current assets of the club would diminish which would again reduce the price someone was willing to pay.

If he wrote off the loans, the value of the club would shoot up but then he would have lost the money that he had in place in the loans.

[PieEater]

Can someone summarise the numbers in simple terms? It looks to me like turnover went down (with increased attendances?) and the loss last year was £4.5m.

What is the holdings company, and why did the asset value plummet?

[Y26]

Does the loss of 6.5 million include the costs of building the extension to the hotel? That must run to a fair chunk of the money? I guess it should do as the company is the football club and hotel.

This will then be reflected in the companies assets once it is built I guess.

Or am I talking a load of rubbish?

[Pool and Darts]

Of course you all do know that Mr Mad's loans to RFC and the Hotel are all repayable ON DEMAND.

Yeah, just like the 'loans' that business men make to the labour party in return for knighthoods or peerages.

FFS. What is wrong with some people.

If John Madejski makes a few quid out of RFC, I really don't give a f**k, and nor should anyone else. If it wasn't for him, we wouldn't exist.

It's called a win-win situation you morons.

You are kidding yourselves if you think RFC are nothing more than a chance for someone with lots of money to make lots more money, just like every other football club. As long as we are better off with him here than we would be if he wasn't, then we should all be happy. Stop reading the Daily Mail and the tabloids, and you will stop caring.

Sit back, relax, and breathe in one of the best seasons of football that most football fans will ever see. If you don't, it will be gone, and you will have nothing left but regrets.

[Northern Git]

With the date of the accounts being 30/06/2005 I take it that these cover football season 2004 - 2005? Not last years promaotion season.

[Ian Royal]

profit on interest of £1.5M and bought Seol for £1.5M.

Interesting. Except we also bought Sodje for £500k and Seol's price was £1M rising to £1.5M wasn't it? Oh and of course there are the loanees and the bids of £4M that we made that were turned down. And the reputed bid of £3M odd for Lescott and whoever... (was it Seol?)

Club seems healthy enough. Mr Mad got us where we want to be and we're doing well, I can't see us folding and ceasing to exist so I frankly couldn't give a oxf*rd.