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#LUFC Accounts...
Level of debt and its increasing nature a worry without the added issue of COVID-19 shutdown
Noteworthy that for the first time in yonks the bank trusts the Club enough to agree an overdraft facility.
TBC
Level of debt and its increasing nature a worry without the added issue of COVID-19 shutdown
Noteworthy that for the first time in yonks the bank trusts the Club enough to agree an overdraft facility.
TBC
2/n
Cash used up in increased stock level plus increased cash tied up in unpaid invoices could do with explanation
Radz has put £18m cash net in to Club to support cashflow
TBC
Cash used up in increased stock level plus increased cash tied up in unpaid invoices could do with explanation
Radz has put £18m cash net in to Club to support cashflow
TBC
3/n
GFH loan is explained (ish). The residual sum owing after Radz repaid about £9m of about £8m is still owing and being repaid over next 9 years. Loan is unsecured (despite GFH still having a charge over Club's assets)
TBC
GFH loan is explained (ish). The residual sum owing after Radz repaid about £9m of about £8m is still owing and being repaid over next 9 years. Loan is unsecured (despite GFH still having a charge over Club's assets)
TBC
4/n
#lufc is accounting for a nominal rent of £1.5m per annum to Aser but this is not being claimed at present. This leaves it up to Radz to either continue to waive payment while in Champ or take a tax efficient payment after promotion or on sale of Club.
TBC
#lufc is accounting for a nominal rent of £1.5m per annum to Aser but this is not being claimed at present. This leaves it up to Radz to either continue to waive payment while in Champ or take a tax efficient payment after promotion or on sale of Club.
TBC
5/n
Even with all the cash Radz pumped in the Club still needed to squeeze another £2.5m out of its operations
There still seems to be evidence of "forward selling" of transfer debtors although the exact sums are unclear
TBC
Even with all the cash Radz pumped in the Club still needed to squeeze another £2.5m out of its operations
There still seems to be evidence of "forward selling" of transfer debtors although the exact sums are unclear
TBC
6/6
All in all, my first glance at the accounts is positive and they are in line with expectations.
As regards FFP, we are well clear of trouble as at 30th June 2019
to all Club personnel for their great performance in raising revenues and points on the field.
All in all, my first glance at the accounts is positive and they are in line with expectations.
As regards FFP, we are well clear of trouble as at 30th June 2019
to all Club personnel for their great performance in raising revenues and points on the field.
