Doncaster Rovers Ltd - accounts y/e 2017

[VSC]

Once again we have to say thank you to the club for the level of detail and discussion we were allowed.

Analysis of Doncaster Rovers Limited (Previously Patienceform Limited) Financial Statements for the year ended 30 June 2017.

The financial statements up to 30th June 2017 for Doncaster Rovers Ltd (trading as Doncaster Rovers Football Club) have been completed and were passed to the Viking Supporters Co-operative for analysis.  The results of which are set out below.

Company Structure.

To standardise matters, dispense with any confusion and to fall in line with the corporate image of Club Doncaster, the company name was changed from Patienceform Limited to Doncaster Rovers Limited.
Post Balance Sheet but prior to the date of the Report of the Directors, the club sadly had to come to terms with the passing of one of the Directors, Mr Richard Watson, who will be greatly missed and very fondly remembered. We have so much to thank him for.
Changes to the structure of the shareholding had taken place in the previous year to 30th June 2016 when Club Doncaster became a large shareholder of this club. There were no further changes in the year to 30th June 2017.

Loans and “Debt to Equity conversion”.

During the previous year to 30th June 2016, it had been reported that there was a conversion of debt to the owners to equity provided by Club Doncaster. This had freed up the company from a large amount of debt to the owners. Loans within the club had been reduced at that time from £12.4M to £614K. During the ensuing year ended 30th June 2017, further cash was injected into the club in line with expectations and also in line with previous years. The cash injection came from Club Doncaster and at 30th June 2017, the outstanding loans by Doncaster Rovers Limited rose from the £614K of the previous year to £2.6M.

Accounting Loss.

In the financial year ended 30th June 2016, the financial loss suffered was £2.08M. However, given that there had been a small residue of owners’ loans written off in that year (£155K), the loss was more realistically £2.24M. This can be compared to the loss in the year ended 30th June 2017 of £2.14M.
Thus the club, despite relegation to League 2, had managed expectations extremely well, because of the Directors and staff controlling the spending budgets.
This shows progress towards the aim of making the club sustainable (albeit in small strides).

Decrease in Income.

At the end of the 2015/16 season, it was disappointing to find the club had finished in poor position in League 1 and the 2016/17 season would be fought out in League 2. As a result, Income in the year ended 30th June 2017 fell against the figures achieved in the prior year (lower matchday revenue and broadcasting revenue etc.). It can be noted overall income in the year ended 30th June 2017 was £4.93M against the previous year of £5.35M.

Wages.

Previously, the total wage bill had increased by £650K, but this year to 30th June 2017 saw a decrease of £331K.  Although administrative staff and stadium staff had increased by 26, the football squad and support staff had decreased by 19. Given the higher level of wages of the football squad and support staff, it is to be expected that this would fund the increase in administrative and stadium staff and allowed for the further savings.

Overall.

Once again, the owners have shown their immense financial support of the club by not only carefully controlling the monetary out-goings, but also by the injection of further cash of around £2M via Club Doncaster during the year. As the loss suffered by the club was £2.14M, then it can be seen that in the main this is shored up by the cash injection.
Many clubs in a year of relegation suffer extreme hardship and increased losses.
This club, during the year, has not let itself financially spiral out of control

[DonnyOsmond]

Why don't the administration staff come under Club Doncaster?

[Brian Young]

Obviously getting back into the Championship with a competitive side would help the balance sheet .

[ss1953]

Just goes to show how generous our owners are. Losing £2 million per year over the last 10 years means that the three major shareholders  have donated £20 million for OUR enjoyment

We should be very grateful.

[ss1953]

Forgot to mention that their conversion of debt to equity has meant we are in a very healthy position compared to other clubs.

[GazLaz]

Any reason the wage bill figure isn’t in the post?

[German Rover]

Just goes to show how generous our owners are. Losing £2 million per year over the last 10 years means that the three major shareholders  have donated £20 million for OUR enjoyment

We should be very grateful.

Aye, but according to some because they aren't in the papers and on the radio every week they are the worst thing to happen to the club.

[Not Now Kato]

Lots of positives in there considering our relegation.  We should indeed be grateful to our owners, not just for injecting cash via Club Doncaster and writing off loans, but for continuing their aim to make the club self sustainable.

[Brian Young]

We are all ambitious and suppose it comes at a price. There has to a method to achieving success without  pumping in oligarchs amounts of cash and I think our board are on top of their game .

[Cantley Rover]

Do we really need the constant snide remarks about posters who might not happen to agree with with others opinions.

[knockers]

Touchy!

[vaya]

Do we really need the constant snide remarks about posters who might not happen to agree with with others opinions.

Although calling other people's opinions snide pretty much negates your point.

[Cantley Rover]

So German Rovers comment isn't snide /sarcastic or whatever way you want to put it then?

[vaya]

So German Rovers comment isn't snide /sarcastic or whatever way you want to put it then?

Depends entirely on your opinion, which you're entitled to, as is he.

[Chris Black come back]

This is a genuine question - our club is now owned by Club Doncaster.

It would be interesting to know who are the Directors of Club Doncaster and who controls the controller, as it where.

I presume it is the Watson / Bramall families exclusively?

Also, I presume Club Doncaster has other priorities, so we are owned by an entity for which Rovers is not the exclusive priority.

To an extent this just formalises life ie when JR etc controlled the club they did not spend every penny on Rovers due to other priorities, but formalising this in a corporate entity does make this more stark, perhaps.

[steve@dcfd]

Any reason the wage bill figure isn’t in the post?

The accounts above which are in the public domain do not show wages or staff the information that VSC have seen about wages must be the version that are not in the public domain.

[no eyed deer]

It's a bit like The Daily Mail.... Read it all but trust little

[GazLaz]

Any reason the wage bill figure isn’t in the post?

The accounts above which are in the public domain do not show wages or staff the information that VSC have seen about wages must be the version that are not in the public domain.

Ah ok. There’s obviously a reason the exact figures were not disclosed.

[roversdude]

Fair saving though on wages

[RedJ]

It's a bit like The Daily Mail.... Read it all but trust little

Well you can't lie in your accounts and the VSC has f**k all to gain by lying in their commentary of said accounts so not sure what this is meant to mean.

Any reason the wage bill figure isn’t in the post?

The accounts above which are in the public domain do not show wages or staff the information that VSC have seen about wages must be the version that are not in the public domain.

Ah ok. There’s obviously a reason the exact figures were not disclosed.

Do football clubs not have the right to publish abbreviated accounts so they can keep stuff like that under wraps? doesn't really make sense to tell the world how much you're paying your playing staff imo. And not for the reasons some people will claim...

[steve@dcfd]

It's a bit like The Daily Mail.... Read it all but trust little

Well you can't lie in your accounts and the VSC has f**k all to gain by lying in their commentary of said accounts so not sure what this is meant to mean.

Any reason the wage bill figure isn’t in the post?

The accounts above which are in the public domain do not show wages or staff the information that VSC have seen about wages must be the version that are not in the public domain.

Ah ok. There’s obviously a reason the exact figures were not disclosed.

Do football clubs not have the right to publish abbreviated accounts so they can keep stuff like that under wraps? doesn't really make sense to tell the world how much you're paying your playing staff imo. And not for the reasons some people will claim...

The club as I understand it in the case of Doncaster Rovers Ltd accounts are not obligated to show wages as they are accounts for a small business and are no longer Full accounts.

[NickDRFC]

The accounts are available on Companies House (have been since March). They only show the balance sheet, and although you can work out the profit/loss by the movement in retained earnings there’s no disclosure of turnover or wages (haven’t double checked but that’s my understanding). So presumably a lot of the commentary in the OP has come from discussions with the club rather than analysis of the accounts.

[steve@dcfd]

Are Financial Statements different to public domain accounts?

[Brian Young]

Clearly the release of the current information in this format is ment to show the backing of the board and that it’s willingness to continue picking up the slack . We ask quiet a lot of questions on here , and it’s obvious that some of it filters back . Having players wages inthe public domain would only be unsettling to the management and seen to be a unhelpful where Player moral has to be maintained.

[big fat yorkshire pudding]

Are Financial Statements different to public domain accounts?

No it's just there are rules on what you have to do.  If you can minimise the returns then you do so.

[idler]

The story in Bradford is that the German board want to go down the route of having a team of young players that they have developed able to be sold for a profit.
Obviously on lower wages than senior pros and the ceiling on wages is rumoured to be £1,500 for new signings. Good luck with that strategy.

[Lifelong supporter]

In the old days the club's accounts showed far more detail, including the the overall playing side wage bill, income from attendances etc.
Is there any reason the club currently does not want to disclose more to its supporters?
 

[big fat yorkshire pudding]

In the old days the club's accounts showed far more detail, including the the overall playing side wage bill, income from attendances etc.
Is there any reason the club currently does not want to disclose more to its supporters?
 

Yes the reasons mentioned numerous times....

[RedJ]

Almost as if he's trying to be a shit stirrer, as per...

[graingrover]

Thanls for the summary of latest accounts VSC. Another 2 million. The club has never had such a clean balance sheet nor such a clear business plan. Could you add info concerning the composition of the shareholdings in Club Doncaster please.?

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