Re: Season 22/23 accounts

4
Stan A. Einstein wrote: April 2nd, 2024, 8:51 pm
mad norm wrote: April 2nd, 2024, 8:35 pmSo?
£2,200,000 lost in two years. And all the time those with charge of our club were lying and telling us all the club was making a profit.

Their incompetence can just about be forgiven. That they lied about it to maintain their position of privilege not so much.
If you believe the small profits in the covid years of 2019-2020 and 2020-2021. Also we had a deficit to start 2022-2023. So it is a lie to say County have lost £2,200,000 in two years as they simply haven't.......

They have spent £1.7 million on covid and pitch replacement etc over 4 years as it was generally deferred until the WRU sold RP. So roughly £400k a year overspend.

RP was losing £800k a year over the same period. As we share RP it would be reasonable to assume County needed to pay some of that back.

Of course other hospitality businesses took out government loans to revamp struggling businesses, decided to go bust and start again with a new name but same premises. Obviously County/Dragons couldn't do that.

Oh, and £500k cup money and £500k investment adds up to a million. So we have survived in the football league, paid back covid and ground improvement and HJ seems happy 😊

Re: Season 22/23 accounts

6
Stan A. Einstein wrote: April 2nd, 2024, 8:51 pm
mad norm wrote: April 2nd, 2024, 8:35 pmSo?
£2,200,000 lost in two years. And all the time those with charge of our club were lying and telling us all the club was making a profit.

Their incompetence can just about be forgiven. That they lied about it to maintain their position of privilege not so much.
Are you saying there has been false accounting? In which case, why aren’t the police involved?

Re: Season 22/23 accounts

7
Jonesy3 wrote: April 2nd, 2024, 9:40 pm
Stan A. Einstein wrote: April 2nd, 2024, 8:51 pm
mad norm wrote: April 2nd, 2024, 8:35 pmSo?
£2,200,000 lost in two years. And all the time those with charge of our club were lying and telling us all the club was making a profit.

Their incompetence can just about be forgiven. That they lied about it to maintain their position of privilege not so much.
Are you saying there has been false accounting? In which case, why aren’t the police involved?
Of course it's not false accounting. At long last the truth is being told. I was never fooled. Quite few of us were never fooled. You and a fair few others believed the lies, I get you must be feeling a right charlie at the moment. Own it.

Re: Season 22/23 accounts

10
Amberexile wrote: April 2nd, 2024, 9:52 pm Once the accounts are available to download, it will be interesting to see how they reconcile against £300k structural deficit and "Debt of just £61k as of 30 June 2023".
You are far more circumspect than me Paul. But let's call the behaviour of the previous board of directors of Newport County. They lied through their teeth and took the supporters of Newport County for mugs.

The previous board and those who seek to defend them should just crawl back under the rock from whence they came.

Re: Season 22/23 accounts

11
Most of the previous Board of the County all resigned when HJ took over the Club. Two Board directors however remain in post as interim Trust nominated directors on the AFC board. All the Trust directors, who have not resigned remain in post. This is supposed to be again an interim arrangement until new Trust Board elections take place.

Re: Season 22/23 accounts

12
Chris Davis wrote: April 2nd, 2024, 10:29 pm Most of the previous Board of the County all resigned when HJ took over the Club. Two Board directors however remain in post as interim Trust nominated directors on the AFC board. All the Trust directors, who have not resigned remain in post. This is supposed to be again an interim arrangement until new Trust Board elections take place.
In name only. I make no comment on the rights and wrongs of this but Newport County belongs to Huw Jenkins and possibly his backers. The Trust has no role now other than to raise cash.

Re: Season 22/23 accounts

13
Stan A. Einstein wrote: April 2nd, 2024, 9:45 pm
Jonesy3 wrote: April 2nd, 2024, 9:40 pm
Stan A. Einstein wrote: April 2nd, 2024, 8:51 pm
mad norm wrote: April 2nd, 2024, 8:35 pmSo?
£2,200,000 lost in two years. And all the time those with charge of our club were lying and telling us all the club was making a profit.

Their incompetence can just about be forgiven. That they lied about it to maintain their position of privilege not so much.
Are you saying there has been false accounting? In which case, why aren’t the police involved?
Of course it's not false accounting. At long last the truth is being told. I was never fooled. Quite few of us were never fooled. You and a fair few others believed the lies, I get you must be feeling a right charlie at the moment. Own it.
What in the name of **** are you on about?

Re: Season 22/23 accounts

14
Stan A. Einstein wrote: April 2nd, 2024, 9:45 pm
Jonesy3 wrote: April 2nd, 2024, 9:40 pm
Stan A. Einstein wrote: April 2nd, 2024, 8:51 pm
mad norm wrote: April 2nd, 2024, 8:35 pmSo?
£2,200,000 lost in two years. And all the time those with charge of our club were lying and telling us all the club was making a profit.

Their incompetence can just about be forgiven. That they lied about it to maintain their position of privilege not so much.
Are you saying there has been false accounting? In which case, why aren’t the police involved?
Of course it's not false accounting. At long last the truth is being told. I was never fooled. Quite few of us were never fooled. You and a fair few others believed the lies, I get you must be feeling a right charlie at the moment. Own it.
You were not right about anything. You claimed countless times that the club was in huge debt. The fact that the club has made a loss has no bearing on what debt it has or otherwise. There are countless similarly uninformed people on Facebook talking about this, and like you they do not know the difference between a P and L and a Balance Sheet.

Notwithstanding the above I think the previous Trust board, and particularly Foxhall, Crook and Madigan, were dreadfully inept for all sorts of reasons. One of the biggest was their decision to hand over the club to Huw Jenkins rather than Jon Pratt.

Who is online

Users browsing this forum: Free beer, Kairdiff Exile, Stow Hill Sid