[SixCrazyMinutes Forum List / The Football Forum / Re: Liverpool FC in profit - but debt almost doubles on: May 31, 2009, 11:24:17 PM
Quote from: Mr_V on May 31, 2009, 08:45:14 PM
redfromlondon is wrong by the way, as basically what he's suggesting is banned by IAS. Paints a false picture to the shareholders and potential stakeholders.
I can't be arsed explaining it all, but I'd look at the expenses side first, see if YOY if they went up, and as stated before, look at the tax on the B/S and I/S see if the club have released a large chunk they almost certainly would have deferred last year. Furthermore, look at the finance costs, have the club paid back a percentage in interest.
But thats ok Redfromlondon, just don't reveal what company you own...
Im not actually gonna bother posting on this website any more because everyone seems to think im a cunt.
The only reason im responding to this little article is because I am certainly not wrong nor does my company do anything underhand.
My company is three small recruitment firms, now this year we have done poorly, obv because of this shitty market. Now we are not on the stock market and have no plans to go public or else I would release all figures whether loss or gains to shareholders. I used to work for RBS finance sector and they worked on 'divisional' net gain and net loss. Rbs have many different sectors and most areas made loss last financial year, however the Natwest retail and Rbs retail finance areas made significant profit, so this is then released, in their report, as is their net losses, toxic debt and toxic subsidaries. There is no hiding anything and it is perfectly legitimate to break down every aspect (as myself and directors do for our company house accountancy) and then offset profit against any debt accrued throughout the year.
I dont understand how that is in any way shape or form wrong? And I would presume that kop holdings plc would do something very similar to RBS as this is the usual format to follow. As long as you are clear, precise and the board, sharholers, accountants and HM Revenue are made clear of the situ, there can be absoloutly no problems with any of it.