The One wrote:1997 ?
Stoney wrote:I haven't got a clue what anybody has just said.
chip63 wrote:Stoney wrote:I haven't got a clue what anybody has just said.
We are in a good position. Most of the money we owe is to John Radford. If he sold tomorrow for a pound he loses about 4 million.
If he stays and we get promoted, cup runs etc he could be making 500k to 1 mill a year.
He will never pay the 4 mill loan off because it's not worth it.
Man Utd owe 65 million? And could pay it off anytime but don't.
It's better to just pay off the interest and be left with the same loan amount each year.
It's all about the tax you pay or don't pay.
Running at a loss we don't pay any tax
It could be worse we could be in the non league playing in a tesco car park on a Sunday.
manssmooth wrote:chip63 wrote:Stoney wrote:I haven't got a clue what anybody has just said.
We are in a good position. Most of the money we owe is to John Radford. If he sold tomorrow for a pound he loses about 4 million.
If he stays and we get promoted, cup runs etc he could be making 500k to 1 mill a year.
He will never pay the 4 mill loan off because it's not worth it.
Man Utd owe 65 million? And could pay it off anytime but don't.
It's better to just pay off the interest and be left with the same loan amount each year.
It's all about the tax you pay or don't pay.
Running at a loss we don't pay any tax
It could be worse we could be in the non league playing in a tesco car park on a Sunday.
Oooooh your'e for it now! Wait till Jamie finds out
halifaxstag wrote:Most of our season ticket sales were Early Bird which finished on 31st May so this income wouldn’t have been included in this period
Dave Wayne wrote:halifaxstag wrote:Most of our season ticket sales were Early Bird which finished on 31st May so this income wouldn’t have been included in this period
Income and expenditure has to be accounted for in the period when goods/services are received.
Therefore, any season ticket income received in the previous accounting period would be classed as a prepayment and adjusted into the correct year, so these figures will include the 'early bird' sales.
halifaxstag wrote:Dave Wayne wrote:halifaxstag wrote:Most of our season ticket sales were Early Bird which finished on 31st May so this income wouldn’t have been included in this period
Income and expenditure has to be accounted for in the period when goods/services are received.
Therefore, any season ticket income received in the previous accounting period would be classed as a prepayment and adjusted into the correct year, so these figures will include the 'early bird' sales.
No, it doesn’t. It depends on how the accountant/client wants to deal with it. I physically received my season ticket in July 2017 but the club took my money in May. Had I received the service in July or May. No I hadn’t but the income could have been declared at either point or when the actual service is received. In fact this is what clubs like Cheaterfield/Arsenal do- they receive the money but only declare it on a match day basis in order to spread (amongst other things) their VAT liability. This is why they can also falsely declare their attendances.
Dave Wayne wrote:halifaxstag wrote:Dave Wayne wrote:halifaxstag wrote:Most of our season ticket sales were Early Bird which finished on 31st May so this income wouldn’t have been included in this period
Income and expenditure has to be accounted for in the period when goods/services are received.
Therefore, any season ticket income received in the previous accounting period would be classed as a prepayment and adjusted into the correct year, so these figures will include the 'early bird' sales.
No, it doesn’t. It depends on how the accountant/client wants to deal with it. I physically received my season ticket in July 2017 but the club took my money in May. Had I received the service in July or May. No I hadn’t but the income could have been declared at either point or when the actual service is received. In fact this is what clubs like Cheaterfield/Arsenal do- they receive the money but only declare it on a match day basis in order to spread (amongst other things) their VAT liability. This is why they can also falsely declare their attendances.
The service you are receiving is when you attend the matches so you don't receive it till the season starts.
Accounting regulations specify when the income is accounted for - not the accountant/client.
Income received in advance goes onto the balance sheet as a liability as the company still has to deliver the service that has been paid for.
dublin_stag wrote:Dave Wayne wrote:halifaxstag wrote:Dave Wayne wrote:halifaxstag wrote:Most of our season ticket sales were Early Bird which finished on 31st May so this income wouldn’t have been included in this period
Income and expenditure has to be accounted for in the period when goods/services are received.
Therefore, any season ticket income received in the previous accounting period would be classed as a prepayment and adjusted into the correct year, so these figures will include the 'early bird' sales.
No, it doesn’t. It depends on how the accountant/client wants to deal with it. I physically received my season ticket in July 2017 but the club took my money in May. Had I received the service in July or May. No I hadn’t but the income could have been declared at either point or when the actual service is received. In fact this is what clubs like Cheaterfield/Arsenal do- they receive the money but only declare it on a match day basis in order to spread (amongst other things) their VAT liability. This is why they can also falsely declare their attendances.
The service you are receiving is when you attend the matches so you don't receive it till the season starts.
Accounting regulations specify when the income is accounted for - not the accountant/client.
Income received in advance goes onto the balance sheet as a liability as the company still has to deliver the service that has been paid for.
Isn’t the service received as soon as the seat is reserved for the season arguably?
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