Argyle Finances

A complete lift from over the way

A few things strike me

1) Wrathall's money was a drop in the ocean

2) The councils money is a drop in the ocean

3) Higher Home Park would not make the club self sufficient

4) The cupboard is bare. £10 million in debt at the end of last year. And the club owns diddly squat.

Quote :

The financial accounts for Plymouth Argyle Football Club Limited have been published for year end December 2013.

These are abbreviated accounts so there's not much detail.

A loss of £3.95 million, compared to £2.44m in 2012.

Total deficit £2.68m, in 2012 it was £1.19m.

Creditor amount falling due within one year £1.89m.

Creditor amount falling due after one year £4.23m.

The accounts do not give much detail on season ticket sales except to say "season ticket and sponsorship income is recognised as and when matches are played".

The Chartered Accountant who prepared the accounts makes it very clear that the club is a going concern due to the funds made available from Akkeron Leisure Limited.

"The company is a going concern due to the confirmation from the immediate parent company (Akkeron) that it intends to make available or procure sufficient funds to enable the company to continue trading".

The ultimate parent company is Natatomisam.

It's clear James Brent and his Akkeron/Natatisam companies are keeping Argyle afloat as we continue to struggle with historic debts.

If he want invest money in the club its no shock is it! Its clear the club are still not doing enough to attract money into the club from off the pitch adventures and that is what was the problem last time.

bucket rattling tome soon i fear as its not like any of the super fans are going to demand some clear answers and brent to sell up before admin 2 happens as again we will die if that happens.

Brent is fooked, Argo is fooked, Brent fook off.
* This is why we have to go shit or bust to get out of this league NOW and get the thirty point cushion we need to save us from doing a Luton. No one is going to buy us why would they? They will wait for admin. to happen and pay up their pound.

I've been convinced this season is boom or bust. Going cap in hand to the Council was one sure sign about how precarious things are.

Could the Trust ask JB about the accounts? Are any of the costs of the failed development known as HHP being hived off onto the club?

It's clear James Brent and his Akkeron/Natatisam companies are keeping Argyle afloat as we continue to struggle with historic debts.

This bit was written by postey not his accountant, unless postey is helping JB out as well?
Sooooo, how much is akkeron paying to argyle this year? Not enough to pay any of the debts it would seem. JB has LOANED the club money before and has stated he will not bankroll the club, now postey is suggesting this has changed, personally I think postey is licking some arse and telling some lies again.

Definitely time for someone to whip their probe out and get it stuck into James Brent/Akkron/Natatisam

Director Overview
James Brent holds 25 appointments at 25 active companies, has resigned from 2 companies and held 0 appointments at 0 dissolved companies. James began their first appointment at the age of 42. Their longest current appointment spans 6 years and 2 months at AKKERON GROUP LLP.

The combined cash at bank value for all businesses where James holds a current appointment equals £3,467,922, with a combined total current assets value of £22,213,709 and total current liabilities of £43,175,597. Roles associated with James Brent within the recorded businesses include: Director, Llp Designated Member

name of his companies  

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The latest Annual Accounts submitted to Companies House for the year up to 31/12/2013 reported 'cash at bank' of £178,831, 'liabilities' worth £1,526,463, 'net worth' of £-4,446,678 and 'assets' worth £517,728.

I read that line

Brown tongue wrote:

It's clear James Brent and his Akkeron/Natatisam companies are keeping Argyle afloat as we continue to struggle with historic debts.

and thought what a load of bollocks (didn't realise the Site Manager had written it). Its clear that Brent is making us more in debt, with less ability to pay the debts back unless money is paid in from other parties.

How can the fact that we lost a further £1.5m last year (compared to 2012) be an example of good financial management. I thought Brent was trying to make Argyle self sufficient- it looks like he is doing the opposite?

Please ignore the loss figure posted, it is not correct, not sure if it is designed to be sensationalist or not. There are no trading accounts so it is hard to know what the "loss" includes. For example there could be a large interest on directors loan figure in there.

are there any ways of getting these finances out in the open to show how little the fecker has ?

Director Overview
Anthony Wrathall holds 2 appointments at 2 active companies, has resigned from 3 companies and held 2 appointments at 2 dissolved companies. Anthony began their first appointment at the age of 47. Their longest current appointment spans 1 years and 2 months at SAND BAY LEISURE RESORT LTD.

The combined cash at bank value for all businesses where Anthony holds a current appointment equals £178,831, with a combined total current assets value of £517,728 and total current liabilities of £1,526,463. Roles associated with Anthony Wrathall within the recorded businesses include:
2 appointments at 2 active companies
3 resigned appointments
2 appointments at 2 dissolved companies

A fair point Chancellor. It does not look too bright though does it?

Any further analysis appreciated.

Has it been documented anywhere where the costs for HHP have come from? Surveyors, architects (even shit ones cost money), lawyers, marketing etc.

Dick Trickle wrote:

Has it been documented anywhere where the costs for HHP have come from? Surveyors, architects (even shit ones cost money), lawyers, marketing etc.

probably a joint venture of he offers nandos land in his hhp clusterfuck and they pay him for it and he uses that to fund it and the same method applies to other ventures and buisnesses.

blimey, and i thought i was skint

The longer people with positions and standings within the fanbase keep quite over Brents dealings and impact on the club the quicker PAFC dies.

Stand up now and fight

The thing that stands out for me is the increase in club debt from £2.44m to £3.95m. That means we lost £1.51m last year.

The big question is: How?

Where is all this money going? It can't be the old "football creditor debt" or "historic debt" chestnuts because the CVA wiped out most of it and the repayment schedule for the rest is widely known to be (7% of c. £4m=) c. £250k.

We know it hasn't been spent on transfer fees.

The Salary Cap Management Protocol prohibits it being paid to players.

It can't be paying off debt. The overall debt is growing. We can't even be rescheduling debt effectively.

Which all begs the question of who is it that has picked up the bills incurred so far for HHP? Have they been loaded against the club? In which case that "free" ministand is hardly "free" at all - which makes how inadequate it is (if it ever gets built) even more galling.

The looming debt will be reduced significantly if the outstanding creditors accept the council's £800k so that's not such a worry - Presumably much of the rest represents money loaned by the club by Brent so that only actually becomes due when he asks for it.

Sir Francis Drake wrote:

The thing that stands out for me is the increase in club debt from £2.44m to £3.95m. That means we lost £1.51m last year.

The big question is: How?

Where is all this money going? It can't be the old "football creditor debt" or "historic debt" chestnuts because the CVA wiped out most of it and the repayment schedule for the rest is widely known to be (7% of c. £4m=) c. £250k.

We know it hasn't been spent on transfer fees.

The Salary Cap Management Protocol prohibits it being paid to players.

It can't be paying off debt. The overall debt is growing. We can't even be rescheduling debt effectively.

Which all begs the question of who is it that has picked up the bills incurred so far for HHP? Have they been loaded against the club? In which case that "free" ministand is hardly "free" at all - which makes how inadequate it is (if it ever gets built) even more galling.

The looming debt will be reduced significantly if the outstanding creditors accept the council's £800k so that's not such a worry - Presumably much of the rest represents money loaned by the club by Brent so that only actually becomes due when he asks for it.

The bigger question will still be left unanswered and that is how can the club increase its income because until that gets resolved and its not A Brent thing as its been the problem for years even in the glory days we will just continue to be in yo yo in terms of debt.

So as I hinted the costs incurred by HHP could have been loaded against the club when it was never going to fully benefit even if it went ahead.

Dare I say it but this should be a question the Trust are taking up with the club.

Loving the avatar Mr Trickle. Can u send me a link. I feel a piggy pic coming on

Club Statement on the accounts

Don't panic everything is hunky dory

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That clears it all up then. Lol. Why do they bother with these piss poor accounts being published anyway? What good are they? Or does it really portray a snapshot of the general worth or trend of a company and the club are speaking bullshit? The accounts show a growing loss but the club say its shrinking, any accountants on here?

Dick Trickle wrote:

So as I hinted the costs incurred by HHP could have been loaded against the club when it was never going to fully benefit even if it went ahead.

Dare I say it but this should be a question the Trust are taking up with the club.

It's obvious really he wants all the pro£it and he loads debt onto the club!

It is his HHP, FECK ALL to do with Argyle.

Cnut.

alannotivvy wrote:

Loving the avatar Mr Trickle. Can u send me a link. I feel a piggy pic coming on

Me too, it always make me think " IF THE DEVIL COULD CAST HIS NET NOW.. " in my head!, every fecking time.