Financial results

[yankspurs]

We received £114m from sales, and because the net book value of the players was £10m we generated £104m profit (Note 6 on Page 18).

On page 2, Spurs say they invested £110m in the playing squad.

Trade receivables for player registrations total £73.4m of which £39.5m is due in more than 1 year - which I agree will be mainly in respect of the Bale deal. So £33.9m (£73.4m less £39.5m) will be received by 30 June 2015.

Note 23 says that there was an additional £ 15.3m which may be payable on player registrations (contingent on certain events ocurring) - some of which may relate to Soldado (and indeed we may received up to £18.1m dependent on whether the players we have sold meet certain criteria).

Correct, we owe £33.7m in respect of player registrations which is payable within 1 year but also a further £17.4m which is payable after 30 June 2015 (ie 12 months after 30 June 2014)

We owe about £35m in bank and other loans, only £2m of which is due in the 12 months to 30 June 2015 - but this has no bearing on the profit declared !

Agreed Yedlin looks to be a January 2015 signing as he's not listed as a deal which happened betwen 30 June 2014 a
nd November 2014.

Im just mainly confused about the player trading parts right now.

Here are my edits from re reading it:

Edit: Okay, now I'm really confused. Page 11 on the report. Our profit on disposal of intangible assets aka players sold was £103,965,000. Our acquisitions of intangible assets aka players purchased was £91,681,000. Meanwhile our proceeds from intangible assets aka profit from player trading was £47,889,000. The math doesnt compute. What the hell am I missing here?

Damn't Spurs. I'm too stoned for this shit.

Edit 5: Now i'm completely lost. Went back to the beginning. Our profit from football trading was £56,901,000. Then how much did we get from sales and spend on players? The end made it sound like we dont have that much contingent payments owed to clubs on player trading. Which would either mean that we didnt pay much for the 7 players received or we made alot more then that £104m number on sales.

I guess the intangible assets is more than player trading though.

The main balance of it all(£65m profit) looks like it doesnt include the total amount we spent on player sales, only counts £47m of the £110 we're reporting.

Could the £110m spent be including the £15.3m contingent payments, that probably most relate to Soldado and wont be met?

 

[Spursidol]

Im just mainly confused about the player trading parts right now.

Here are my edits from re reading it:



I guess the intangible assets is more than player trading though.

The main balance of it all(£65m profit) looks like it doesnt include the total amount we spent on player sales, only counts £47m of the £110 we're reporting.

Could the £110m spent be including the £15.3m contingent payments, that probably most relate to Soldado and wont be met?

Page 11 is the cash flow statement, so Its likely that they're adjusting the figures for sales proceeds for amounts still owed, and ditto the amounts for players purchased.

It cerrtainly shouldn't involve the contingent amounts at 30 June 2014 which have neither been paid nor accrued for in the preparation of the accounts.

Included in the P & L is the amortisation of the intangible assets (player registrations etc eg if a player is bought for £16m on a 4 year contract, £4m is 'amortised' in the accounts each year).

The £47m is described in Note 3 as being the costs of amortisation, impairment and other net football income and costs - and in note 10 on page 22 is shown how the costs of acquiring player registrations is kept in the balance sheet with amounts being charged to the P & L, in this year £39,846k amortisation and £10,185k impairment (these 2 amounts are part of the £47m).

 

[spursfan77]

£60m for a training ground!

Now that is invest, and people say levy sits in his chair with a digit up his yiu know what doing nothing!

Almost as much as professional fees paid out....

"£41m is capitalised architects and other consultants fees."