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Posted (edited)

Didn't see anyone post on this yet but the club published its most recent set of accounts yesterday. Non-shareholders can view these on Companies House.

They're largely moot at this point, given everything that's happened in the last year, but the club's overall debt grew in that time from £2,611,332 to £2,873,032. Of this, the overwhelming majority of the debt was owed to 'group undertakings' (i.e. the gormless Raes still thinking they were getting "their" money back), at £2,703,432.

The only thing keeping the club notionally solvent was the valuation of its fixed assets. The freehold property is valued at a shade over £3m, with fixtures and fittings at a further £726,158.

It's difficult to overstate just how terribly the club has been run in recent years, and it's sobering to note that this debt continued to balloon in the expectation that the fans were going to one day pay it off. Thank God that got nipped in the bud when it did.

Edited by TRVMP
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The car park was just resting in my account

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Posted (edited)
32 minutes ago, TRVMP said:

Didn't see anyone post on this yet but the club published its most recent set of accounts yesterday. Non-shareholders can view these on Companies House.

They're largely moot at this point, given everything that's happened in the last year, but the club's overall debt grew in that time from £2,611,332 to £2,873,032. Of this, the overwhelming majority of the debt was owed to 'group undertakings' (i.e. the gormless Raes still thinking they were getting "their" money back), at £2,703,432.

The only thing keeping the club notionally solvent was the valuation of its fixed assets. The freehold property is valued at a shade over £3m, with fixtures and fittings at a further £726,158.

It's difficult to overstate just how terribly the club has been run in recent years, and it's sobering to note that this debt continued to balloon in the expectation that the fans were going to one day pay it off. Thank God that got nipped in the bud when it did.

 

Edited by Jamie_M
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