"Within Your Means" premiership and QPR

[qblockpete]

What about going up to the premiership?

genuine question

Are Bernie/Flavio/Mittal personally loaning the club money, like say Fayed is at Fulham

[SheepRanger]

Yes, they must be because we bank with Lloyds and I doubt they are in the game of throwing money at football clubs, especially as they are part owned by the Govt.

They have invested heavily to get us there and only time will tell whether they want to do it on a cheap and get their money back, or invest further to stay there. It looks to me as if they will take a huge chunk of the premiership money and reduce the club debt, by having their loans paid back.

Some interesting views on this thread if you missed it.

http://www.wearetherangersboys.com/forum/showthread.php?t=105207

[qblockpete]

cheers for that

[James1979]

Not much rumour in that figure Pete.

The last set of accounts were to May 2010 and on page 7 you will see a loss of £13,698,000 for that year and on page 10 you can see the net current liabilities (debt) at £36,362,000

http://qprreport.blogspot.com/2011/03/complete-qpr-accounts-for-year-ending.html

Those are the last set of accounts May09-May10 FACT not rumour. Last seasons have yet to be submitted, but it saw us bring in a variety of loan and permi signings. If last season saw the same loss then the current debt before going into the Premier League would be:-

£13.7m + £36.3m = £50m

Oh, and throw in another £1m for the FA fine and expenses!!

Clearly last seasons loss is anyones guess but doubt it would be less than the one before in these accounts.

As I said not too much rumour in that figure, it's pretty accurate in my opinion

You don't include the loss for the year in the net debt because the balance sheet includes the P&L movements.
The net debt is £33m according to those accounts. If you want the breakdown, I'll provide.

[2touch]

You don't include the loss for the year in the net debt because the balance sheet includes the P&L movements.
The net debt is £33m according to those accounts. If you want the breakdown, I'll provide.

Go for it!

[SheepRanger]

Thanks James. I'm not an accountant so took the wrong figure.

But would you agree that if the loss last season was the same as the one in these accounts to May 10, a sensible estimate would show us in debt to the tune of £45-50m?

[James1979]

Whole point of net debt is that it includes cash. Not a big figure on these accounts but still include it.
Also, you don't include all current liabilities just like you don't include all current assets (eg debtors). Provide reason if you want (but more accounting than relevant to qpr).

In current assets include the 18.6 (other creditors). This includes that infamous 10m loan backed up by the ground. Also include the 4.8 overdraft.
Then include the non-current liabilities (11)

So: 11+18.6+4.8 -1 = 33.4

[SheepRanger]

Whole point of net debt is that it includes cash. Not a big figure on these accounts but still include it.
Also, you don't include all current liabilities just like you don't include all current assets (eg debtors). Provide reason if you want (but more accounting than relevant to qpr).

In current assets include the 18.6 (other creditors). This includes that infamous 10m loan backed up by the ground. Also include the 4.8 overdraft.
Then include the non-current liabilities (11)

So: 11+18.6+4.8 -1 = 33.4

£33.4 to May 2010?

So add another £10-13m loss for last season and we're around £45m now?

Hard to judge, but players wages wouldn't have gone down, probably went up. But also bigger gates

[James1979]

Thanks James. I'm not an accountant so took the wrong figure.

But would you agree that if the loss last season was the same as the one in these accounts to May 10, a sensible estimate would show us in debt to the tune of £45-50m?

Well yes but didn't we sell routledge in that year? Also imagine we earnt more through tv revenues due to onfield performance.