O/T BFC’s Club Financial Accounts Revealed

Just mentioned on the Cardiff thread that it’s a nonsense that Blackpool can turn a relatively small profit last year, the aim of any business, yet other Championship clubs can rack up millions in losses seemingly without penalty.

Financial Fair Play - ok then…….

Clubs running at a loss one year should start the following season on a points deduction, commensurate with how much of a loss they have racked up.
 
Pauls_Boutique said:
Just mentioned on the Cardiff thread that it’s a nonsense that Blackpool can turn a relatively small profit last year, the aim of any business, yet other Championship clubs can rack up millions in losses seemingly without penalty.

Financial Fair Play - ok then…….

Clubs running at a loss one year should start the following season on a points deduction, commensurate with how much of a loss they have racked up.
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It'd be even better for us, if this season Cardiff & Reading got wacked with a big points deduction like Derby did.
 
BlackpoolJord said:
Disgraceful really. Made a profit last year, yet almost no investment in the squad over the summer, signing injury prone crocks and loans. And now we are in the relegation zone because of this. I fail to see how this is good news.
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Read the accounts properly the only reason it was a profit was because Sadler invested 5 million. Otherwise would of been a million loss
 
We are probably one of the only clubs in world football who was able to post a profit last year, genuinely impressive stuff.

Relegation will hurt, but I still have faith that in the long run we will be very healthy.
 
I can only see the accounts for the "Holding" company so far which is the overall picture for Blackpool Football Club Ltd, Blackpool Football Club Hotel Ltd and Blackpool Football Club Stadium and Property Ltd.
However this is basically the "Football Club" which accounts for the majority of the income and expenditure of the Group so lots to see.
Go to Companies House website if you want a look.

Get information about a company

Get company information including registered address, previous company names, directors' details, accounts, annual returns and company reports, if it's been dissolved
www.gov.uk www.gov.uk
 
Is the profit due to Critch and Bowler going for big bucks?

I cannot see how else a profit could be made other than that.
 
seasideone said:
Only because SS put a shed load in!
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Yes and even if that is the case we are still in good hands long term with him.

Ridsdale puts millions in every year too, but they posted losses of 16 million, which is just not sustainable.

It isn't ideal to be completely dependent on one man to make sure we don't go negative, but his long term vision is for that not to be the case and it will be a whole lot easier to do that when we minimize losses like we did last year.
 
AmericanTangerine said:
Yes and even if that is the case we are still in good hands long term with him.

Ridsdale puts millions in every year too, but they posted losses of 16 million, which is just not sustainable.

It isn't ideal to be completely dependent on one man to make sure we don't go negative, but his long term vision is for that not to be the case and it will be a whole lot easier to do that when we minimize losses like we did last year.
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Ridsdale is the Nobbers’ Ben
 
AmericanTangerine said:
Yes and even if that is the case we are still in good hands long term with him.

Ridsdale puts millions in every year too, but they posted losses of 16 million, which is just not sustainable.

It isn't ideal to be completely dependent on one man to make sure we don't go negative, but his long term vision is for that not to be the case and it will be a whole lot easier to do that when we minimize losses like we did last year.
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What - you haven’t a clue!!!!

1 BFC lost millions - Simon put his own hard earned in to keep it afloat.

2 Ridsdale has NEVER put a SINGLE penny into PNE.

Sorry - you are deluded!!!!!!!
 
As at the 30th June 2022, Seaside Holdings have provided £4.8m to BFC Group.

Its Director Mr S P Sadler has provided £16.16m, including the initial purchase of the Group and its assets of £8.4m and a gift of £0.17m, with total tax reimbursements of £0.61m.

Cumulative total funds received amount to £21.57m. This number is forecast to increase by £4m in the year 2023.

….and if we get relegated the TV money will drop significantly!!!
 
Think I remember reading that the knobbers only generated £12.5m in income but had £28.9m in expenditure...
That's why Hemmings had to put in £16m just for 1 year to cover the deficit...

But we generated £17.8m.......£5.3m more, so even with a loss of TV and EFL income....we should/could still be profitable..

Anyway...a good situation to be in and something that bodes well for future development....
 
Insider said:
Turnover is (rounded)
Matchday £4.6m
Football £8.5m
Commercial £2.1m
Hotel £1.6m
Rental 0.9m
Total £17,801,203 (actual).
There's a gross profit after expenditure of
£452,608.
That's the P&L position and doesn't
include money invested by Simon which is reflected in the Balance Sheet.
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I would like to see an analysis of the expenditure in the P&L account especially player’s wages and any details of the highest paid employees including Directors. The total expenditure is a mouth watering £17.3M.
 
TSSeasider said:
£1.6m for the hotel seems pretty good.

I wonder whether there is an internal price for our footballers and an external price for others?
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That is turnover not profit. Turnover for the hotel is around £30000 a week, about £4000 a day. Also the hotel turnover could be inflated by payments made by BFC for players, Managers and other staff staying at the Hotel. The Hotel turnover would be much higher if we got some income from the occupier of the Penthouse.
 
Ball on Fire said:
That is turnover not profit. Turnover for the hotel is around £30000 a week, about £4000 a day. Also the hotel turnover could be inflated by payments made by BFC for players, Managers and other staff staying at the Hotel. The Hotel turnover would be much higher if we got some income from the occupier of the Penthouse.
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How the eck are they still there ,must have a bullet proof tenancy 😡
 
Wizaard said:
Input from Sadler.
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Inputs from Sadier as you call it doesn‘t impact on the Profit & Loss Account, Sadler’s financial contributions go onto the Balance Sheet and appear as loans and in the bank balance which is then used to pay for losses made in the previous financial year and capital (non revenue related expenditure).
 
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Pauls_Boutique said:
Just mentioned on the Cardiff thread that it’s a nonsense that Blackpool can turn a relatively small profit last year, the aim of any business, yet other Championship clubs can rack up millions in losses seemingly without penalty.

Financial Fair Play - ok then…….

Clubs running at a loss one year should start the following season on a points deduction, commensurate with how much of a loss they have racked up.
Click to expand...
👍 If we ran at a £22,000,000 loss then we'd be promoted.
It's a ** joke
 
Insider said:
Profit on disposal of manager/player £1,957,970.
The accounts will preceed the Bowler sale.
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The majority of this £2m if not all of it will be the Critch compensation from Aston Villa, I can’t think of any players we sold between 1st July 2021 and the 30th June 2022 that we made a profit on.
 
Ball on Fire said:
That is turnover not profit. Turnover for the hotel is around £30000 a week, about £4000 a day. Also the hotel turnover could be inflated by payments made by BFC for players, Managers and other staff staying at the Hotel. The Hotel turnover would be much higher if we got some income from the occupier of the Penthouse.
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On consolidation (the group accounts) will cancel out on the simple basis you cant make a profit out of yourself... (Cookson St excepted)
 
seasideone said:
That’s not correct though - the cost of the immense deep clean would dwarf anything the club has ever seen before, and could even bankrupt SS.

…be careful what we wish for!
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Yes but that is only because nobody has told them that Covid lockdown is over.
 
SeasideTerrier said:
On consolidation (the group accounts) will cancel out on the simple basis you cant make a profit out of yourself... (Cookson St excepted)
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I am not interested in inter company transfers which cancel out in the Group accounts but I am interested in the Hotel’s turnover and profit.
 
Ball on Fire said:
Yes the £8.5M is TV money, around £3M from the Championship TV deal and about £5M from the annual Premiership TV deal solidarity payment.
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Well, thank God the accounts don't tell a really grim tale as this relegation is going to hurt.

The money from Quitch and Bowler is going to have to go a long way to get us back up at the first attempt.
 
Ditch_the_Dino🦖_Simonized said:
Well, thank God the accounts don't tell a really grim tale as this relegation is going to hurt.

The money from Quitch and Bowler is going to have to go a long way to get us back up at the first attempt.
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The Bowler money was received after 30th June 2022 so will be in this year’s accounts. The Critch compensation money is in these published accounts (year ended 30th June 2022). The accounts for year ending 30th June 2023 should be interesting as they will include the compensation paid to Appleton.
Ball on Fire said:
I have been on Companies House this afternoon and the Accounts weren’t there.
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I have now found the Group accounts at Companies House, never knew the BFC Group was the registered in the Cayman Islands.
 
Ball on Fire said:
The Bowler money was received after 30th June 2022 so will be in this year’s accounts. The Critch compensation money is in these published accounts (year ended 30th June 2022). The accounts for year ending 30th June 2023 should be interesting as they will include the compensation paid to Appleton.

I have now found the Group accounts at Companies House, never knew the BFC Group was the registered in the Cayman Islands.
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BVI I think?

It’s only recently that overseas entities have had to register their owners at Companies House.

If you click on people and then click on beneficial owners you find something about Osiris Trust. Which is far as you’re going to get.

So a bit of a gap in the new U.K. transparency rules.
 
Bfc98 said:
Read the accounts properly the only reason it was a profit was because Sadler invested 5 million. Otherwise would of been a million loss
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Sadler’s investment has no impact on the profit and loss account, it appears on the Balance Sheet as an interest free loan under Creditors and in the Bank account. The reason we made a profit is as follows:-
We made an Operating loss on normal business of £2M but the Critch compensation from Aston Villa covered that loss. Sadler passed over a tax refund of £450K which is why we made a profit of around £500k.
 
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