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Haruki 28th July 2020 12.51:33

Follow the Money
 
[url]https://www.wrexhamafc.co.uk/sites/default/files/news/wafc_final_accounts_2019.pdf[/url]

Based on the attached accounts for year ended 30th June 2019 we can deduct the following
In that year Cost of Sales (football and stadium costs) rose by £620k
Administration Costs rose by £185k
So our total costs increased by £805k.

In that year this was covered by an increase of revenue of £1.6 million (mainly the Ward add on) and we recorded a Profit of £755k.

So, if in year ending June 2020 our costs were similar to the year before (a look at both playing squads would lead you to assume so) and we wouldn't have had the Increased Revenue from Danny Ward so assume it decreased by that £1.6m, Then in June 20 we can assume a large loss that would have eaten up all of the Profit made the previous year.

What does this mean? To me in looks like all of the Ward money has been spent over the last two season which is why members have to fund the training ground.

Based on all of the above my question is how we can afford to sink £100k into the Groves? I will firmly be voting against it.

Inside Left 28th July 2020 13.05:51

Re: Follow the Money
 
The club board have made it clear that Wrexham FC is financially stable even in these difficult times. I read it in The Daily Post.

Ooh aah Paskin 28th July 2020 13.09:24

Re: Follow the Money
 
[QUOTE=Inside Left;2373695]The club board have made it clear that Wrexham FC is financially stable even in these difficult times. I read it in The Daily Post.[/QUOTE]

Must be true then.

:D

eastsussexred 28th July 2020 13.29:13

Re: Follow the Money
 
[QUOTE=Inside Left;2373695]The club board have made it clear that Wrexham FC is financially stable even in these difficult times. I read it in The Daily Post.[/QUOTE]


£213k in the bank, as I understand it.

[url]http://www.redpassion.co.uk/forums/wrexham/115919-pete-jones-i-will-stepping-down-chair.html[/url]

Pieman 28th July 2020 13.34:50

Re: Follow the Money
 
[QUOTE=Inside Left;2373695]The club board have made it clear that Wrexham FC is financially stable even in these difficult times. I read it in The Daily Post.[/QUOTE]

With no more Ward money to dip into and a large chunk of the fans refusing to put any more money in until the board have gone we will be in trouble going forward.

Pieman 28th July 2020 13.35:38

Re: Follow the Money
 
[QUOTE=Pieman;2373715]With no more Ward money to dip into and a large chunk of the fans refusing to put any more money in until the board have gone we will be in trouble going forward.[/QUOTE]

Add covid into the equasion too

-luke 28th July 2020 13.41:53

Re: Follow the Money
 
[QUOTE=eastsussexred;2373710]£213k in the bank, as I understand it.

[url]http://www.redpassion.co.uk/forums/wrexham/115919-pete-jones-i-will-stepping-down-chair.html[/url][/QUOTE]

Not bad change out of £1.8m...

There hasn't been such a wild misuse of funds at the racecourse since my 8 year old went in the club shop with a £20 note

Cenotaff 28th July 2020 13.42:58

Re: Follow the Money
 
[QUOTE=Haruki;2373687]
In that year Cost of Sales (football and stadium costs) rose by £620k
Administration Costs rose by £185k
So our total costs increased by £805k.

[/QUOTE]

What exactly would make those costs rise so significantly? What has changed so drastically?

eastsussexred 28th July 2020 14.35:05

Re: Follow the Money
 
[QUOTE=-luke;2373721]Not bad change out of £1.8m...

There hasn't been such a wild misuse of funds at the racecourse since my 8 year old went in the club shop with a £20 note[/QUOTE]

I haven't really been keeping up with wst side of things as I am no longer a member, but I am assuming that the £213k is our playing budget for the next season when it starts as well as being a fund for future emergencies and a nest egg for development/investment fund also i.e. all of the money that the club has at its disposal?
I also assume that future season ticket sales and a build the budget and merchandise sales will add to that a bit before the next season eventually starts?


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