Viking Supporters Co-operative
Viking Chat => Viking Chat => Topic started by: Muttley on February 22, 2012, 10:34:40 pm
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Now I'm sure we all know of the financial support that John, Dick and Terry have made to Rovers in the last few years by way of loans and shares (and very grateful we are too), but a few weeks ago while reading Jenny's review of the latest accounts (year ended 31/5/10) I realised that something didn't quite stack up regarding the funding of the shortfall over the last 12 months.
The accounts are quite helpful in that they detail all \"Transactions with Directors\" and this showed that the total loans from directors increased from £3.59m on 1/6/10 to £3.93m on 31/5/11 (+£0.34m).
The analysis of creditors contained on the Balance Sheet also shows the total loans (including those from Directors). These increased from £3.99m to £4.81m (+£0.82m).
So, there was an extra £0.48million loaned to the club by parties other than directors.
Who could it be?
Mackay?
DMBC?
Kirkham?
Ticketus (see the Glasgow Rangers story)?
Any other friendly local millionaires?
None of my business? Probably.
Interesting? Very.
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Probably a stupid question.... I assume bank loans & overdrafts are detailed elsewhere in the accounts?
It is an interesting observation Muttley!
BobG
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Probably a stupid question.... I assume bank loans & overdrafts are detailed elsewhere in the accounts?
It is an interesting observation Muttley!
BobG
Yes, there's a bank loan/overdraft of £754k :blink: shown separately.
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could it be that the 0.48m is made up of actual creditors i.e. unpaid invoices at the time of the accounts?
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Im as clueless as the next man. But I think it is fair to say it isn't a K.Richardson.
On that note it could be sir Franny, we will always be in debt to that man...
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could it be that the 0.48m is made up of actual creditors i.e. unpaid invoices at the time of the accounts?
No, trade creditors are shown separately.