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IMPORTANT // Please look after your loved ones, yourself and be kind to others. If you are feeling that the world is too hard to handle there is always help - I implore you not to hesitate in contacting one of these wonderful organisations Lifeline and Beyond Blue ... and I'm sure reaching out to our PRE community we will find a way to help. T.
Jack Dyer Medal Tonight
- Thread starter felix
- Start date
Heather, the total "Current Liabilities" ( shorter term debt) in 2004 was about $7 million and "Current Assets" totalled $2 M - hence the $5 M deficiency. The $7 M includes an overdraft of about $2.8. I think part or all of the $2.8 was personally guaranteed by CC for a short period UNTIL arrangements could be made for the AFL to take over as guarantor. They, the AFL, now have some influence over our annual business plan.
Had a great time on Friday Night;
Most of the players were very approachable and many appeared very relaxed - After all, they did holiday in Cairns for about 10 days.
I thought the most pivotal speach for the night, came from Terry Wallace. TW stated six (6) things "he saw" at the Richmond FC in his first 12 months - All his points were very convincing and he was also using this opportunity to drive home strong messages for 2006.
Loved it when Cogs was accepting his 5th place B&F and made reference to Shane Tuck and "all the things we have spoken about since the season finished".
I managed to successfully bid a Richmond jumper and later reminded this player to make it worth twice as much next year. He looked at me and said, "lets make it worth three times more!"
Most of the players were very approachable and many appeared very relaxed - After all, they did holiday in Cairns for about 10 days.
I thought the most pivotal speach for the night, came from Terry Wallace. TW stated six (6) things "he saw" at the Richmond FC in his first 12 months - All his points were very convincing and he was also using this opportunity to drive home strong messages for 2006.
Loved it when Cogs was accepting his 5th place B&F and made reference to Shane Tuck and "all the things we have spoken about since the season finished".
I managed to successfully bid a Richmond jumper and later reminded this player to make it worth twice as much next year. He looked at me and said, "lets make it worth three times more!"
I also went to the Jack Dyer Medal. Apologies rosy I sent a few of those messages, I did say who I was in one of them but with the lack of reception in the room it mustn't have sent.
Had a fantastic night, went with two friends. Anyone who is thinking of going should. All the players were great. We went up to most of the boys for photos quite a few of them would ask our names, shake our hands and tell us to have a great night. Bonus point to Chris Newman who did all of that, then after we left spotted us outside yelled out hey girls gave us a wave and told us again to have a great night :hearton
Much better atmosphere than any training session or family day. The players are relaxed (slightly intoxicated :hihi) and have a lot more time for everyone. Speeches were good. Loved Richo's comment about it being like a disco in there with the music going off for every award :cutelaugh
Advanced warning to the players... we will definitely be going again next year. Looking forward to it already.
Here are some of the photos from the night. They've been edited to protect the innocent, or in our case the not so innocent :rofl
http://au.pg.photos.yahoo.com/ph/tgsfamilydayphotos/my_photos
Had a fantastic night, went with two friends. Anyone who is thinking of going should. All the players were great. We went up to most of the boys for photos quite a few of them would ask our names, shake our hands and tell us to have a great night. Bonus point to Chris Newman who did all of that, then after we left spotted us outside yelled out hey girls gave us a wave and told us again to have a great night :hearton
Much better atmosphere than any training session or family day. The players are relaxed (slightly intoxicated :hihi) and have a lot more time for everyone. Speeches were good. Loved Richo's comment about it being like a disco in there with the music going off for every award :cutelaugh
Advanced warning to the players... we will definitely be going again next year. Looking forward to it already.
Here are some of the photos from the night. They've been edited to protect the innocent, or in our case the not so innocent :rofl
http://au.pg.photos.yahoo.com/ph/tgsfamilydayphotos/my_photos
Heather said:Cutterst said:
Is $5 Mil trueCan someone please confirm. I thought the cumulative debt was $2.8 hence the overdraft. I have never heard about the $5 mil.
Re: CC didn't he come out and say he wanted to retire at the end of the year? Looks like he is over being pressy.
Last year's accounts (formatting courtesy of Disco08). Haven't looked at these for a while, truly disgusting :-X
| 2004 | 2003 | |
| $ | $ | |
| CURRENT ASSETS | ||
| Cash Assets | 916,897 | 815,070 |
| Receivables | 792,148 | 1,041,866 |
| Prepayments | 104,021 | 284,849 |
| Inventories | 97,311 | 132,591 |
| TOTAL CURRENT ASSETS | 1,910,377 | 2,274,376 |
| NON CURRENT ASSETS | ||
| Property, Plant and Equipment | 5,655,097 | 5,798,410 |
| Investments | 103,242 | 103,242 |
| Intangibles | 246,713 | 130,459 |
| TOTAL NON CURRENT ASSETS | 6,005,052 | 6,032,111 |
| TOTAL ASSETS | 7,915,429 | 8,306,487 |
| CURRENT LIABILITIES | ||
| Bank Overdraft | 3,318,729 | 829,351 |
| Payables | 3,429,844 | 3,334,166 |
| Provisions | 167,544 | 221,925 |
| Income Received in Advance | 144,218 | 584,471 |
| TOTAL CURRENT LIABILITIES | 7,060,335 | 4,969,913 |
| NON CURRENT LIABILITIES | ||
| Interest Bearing Liabilities | 1,375,000 | 1,676,125 |
| Other | 225,457 | 210,838 |
| TOTAL NON CURRENT LIABILITIES | 1,600,457 | 1,886,963 |
| TOTAL LIABILITIES | 8,660,792 | 6,856,876 |
| NET ASSETS | (745,463) | 1,449,611 |
| EQUITY | ||
| Retained Earnings | (745,412) | 1,449,562 |
| Outside Equity Interest in Controlled Entities | 49 | 49 |
| TOTAL EQUITY | (745,363) | 1,449,611 |
Stuff in (brackets) means loss. If I have this right (flatmate an accountant and where's he? at work
;D ), the key to this is that the non-current assets are meaningless. For example, since we don't own them we could not sell the ground and buildings to raise funds to pay off creditors in the event of the club going bust. There is a proper term for it, but anyway, subtract current assets from current liabilities to get an idea of the hole we're in. Think Cutterst is right in saying we couldn't service our debts without being beholden to the AFL who guarantee the ANZ bank overdraft.Every time our accounts come out I trawl through all this and become an accounting guru for a few weeks and then spend the rest of the year forgetting it. Time to blow out the cobwebs.
Ready said:Heather said:Cutterst said:
Is $5 Mil true
Re: CC didn't he come out and say he wanted to retire at the end of the year? Looks like he is over being pressy.
Last year's accounts (formatting courtesy of Disco08). Haven't looked at these for a while, truly disgusting :-X
2004 2003 $ $ CURRENT ASSETS Cash Assets 916,897 815,070 Receivables 792,148 1,041,866 Prepayments 104,021 284,849 Inventories 97,311 132,591 TOTAL CURRENT ASSETS 1,910,377 2,274,376 NON CURRENT ASSETS Property, Plant and Equipment 5,655,097 5,798,410 Investments 103,242 103,242 Intangibles 246,713 130,459 TOTAL NON CURRENT ASSETS 6,005,052 6,032,111 TOTAL ASSETS 7,915,429 8,306,487 CURRENT LIABILITIES Bank Overdraft 3,318,729 829,351 Payables 3,429,844 3,334,166 Provisions 167,544 221,925 Income Received in Advance 144,218 584,471 TOTAL CURRENT LIABILITIES 7,060,335 4,969,913 NON CURRENT LIABILITIES Interest Bearing Liabilities 1,375,000 1,676,125 Other 225,457 210,838 TOTAL NON CURRENT LIABILITIES 1,600,457 1,886,963 TOTAL LIABILITIES 8,660,792 6,856,876 NET ASSETS (745,463) 1,449,611 EQUITY Retained Earnings (745,412) 1,449,562 Outside Equity Interest in Controlled Entities 49 49 TOTAL EQUITY (745,363) 1,449,611
Stuff in (brackets) means loss. If I have this right (flatmate an accountant and where's he? at work
Every time our accounts come out I trawl through all this and become an accounting guru for a few weeks and then spend the rest of the year forgetting it. Time to blow out the cobwebs.
As a member I also get these figures, but not knowing what the entries mean I thought that we were in debt for what was in brackets. This has opened my eyes to what we are really in debt to and am disgusted. I have been buying my membership each year to support the club financially. The extent of the mismanagement is worrying. I know that they have said they have recovered this year about $2.2 so at least that's a start or is that smoke and screens as well?
Heather, in accounting terms current asset less current liabilities gives you your 'working capital" ie the surplus to operate with to pay day to day accounts. You can't sell or cash plant & equipment (Fixed Assets) etc to pay wages!
In our case the reverse applies - we have current liabilities of about $7 M less current assets of $2 M- a deficit of about $5 M. The immediate problem is the $3.3 M overdraft which cost us $300,000 Pa in interest and the AFL guarantee which gives them a say iin preparing our annual business plan.
There could well be a big turn around this year compared to last year BUT we need about 3 years of excellent returns to get back to the stage where we have a healthy (positive) working capital.
Watch 2005 accounts and look for the the movements in CA's and CL's.
In our case the reverse applies - we have current liabilities of about $7 M less current assets of $2 M- a deficit of about $5 M. The immediate problem is the $3.3 M overdraft which cost us $300,000 Pa in interest and the AFL guarantee which gives them a say iin preparing our annual business plan.
There could well be a big turn around this year compared to last year BUT we need about 3 years of excellent returns to get back to the stage where we have a healthy (positive) working capital.
Watch 2005 accounts and look for the the movements in CA's and CL's.
Cutterst said:
Meanwhile Clinton swans around the place, goes on holidays rather than attend the B&F and does. . .not much.
Nice one.
Couldn't see where else to post this snippet.
Well, it is to do with Joel Bowden and the JD Medal.
I have two RFC calendars. Both different.
One features a great action shot of Richo for the month of September. T'other has Joel as the pinup boy. The one featuring Joel sits on my desk as it is more user-friendly.
Esmeralda pointed out that they finished 1st and 2nd in the voting, with the winner being right in front of me all this month. I am gonna take more notice next year!
Spooky, huh?
Well, it is to do with Joel Bowden and the JD Medal.
I have two RFC calendars. Both different.
One features a great action shot of Richo for the month of September. T'other has Joel as the pinup boy. The one featuring Joel sits on my desk as it is more user-friendly.
Esmeralda pointed out that they finished 1st and 2nd in the voting, with the winner being right in front of me all this month. I am gonna take more notice next year!
Spooky, huh?
Nearly forgot - great pics TG, ta muchly.
Has Tiggy seen the one of Staff yet? Bet she downloads it. :hihi
Has Tiggy seen the one of Staff yet? Bet she downloads it. :hihi