The Long Awaited Accounts....

[Risso]

I don't understand how the tangible assets are now worth c.£40m less than before.
Assuming these include VP and BMH, what has changed? 
I'm guessing there must be some clever accounting reason why you would say these are worth less than previously estimated.
Unless that shop in New Street was more valuable than we thought.

It is a bit odd, to say the least.  Land and buildings were in the accounts at £88m, so it's nearly half the value they've written off.  Guessing slightly here, but it may have something to do with the fact that as we're now in a division lower, the stadium is generating less income.  Generally commercial property is valued based on the income it generates, so if you have an office block with a blue chip tenant on a ten year lease, it'll be worth more than the same building with a BHS in it.

[PeterWithe]

Would it have anything to do with HS2 slicing through the staff canteen at BH?

[Ads]

I don't understand how the tangible assets are now worth c.£40m less than before.
Assuming these include VP and BMH, what has changed? 
I'm guessing there must be some clever accounting reason why you would say these are worth less than previously estimated.
Unless that shop in New Street was more valuable than we thought.

It is a bit odd, to say the least.  Land and buildings were in the accounts at £88m, so it's nearly half the value they've written off.  Guessing slightly here, but it may have something to do with the fact that as we're now in a division lower, the stadium is generating less income.  Generally commercial property is valued based on the income it generates, so if you have an office block with a blue chip tenant on a ten year lease, it'll be worth more than the same building with a BHS in it.

Would it be right to assume there'd be scope for the value of those assets to double or at least increase substantially again if we were promoted at the end of next season?

[Risso]

I don't understand how the tangible assets are now worth c.£40m less than before.
Assuming these include VP and BMH, what has changed? 
I'm guessing there must be some clever accounting reason why you would say these are worth less than previously estimated.
Unless that shop in New Street was more valuable than we thought.

It is a bit odd, to say the least.  Land and buildings were in the accounts at £88m, so it's nearly half the value they've written off.  Guessing slightly here, but it may have something to do with the fact that as we're now in a division lower, the stadium is generating less income.  Generally commercial property is valued based on the income it generates, so if you have an office block with a blue chip tenant on a ten year lease, it'll be worth more than the same building with a BHS in it.

Would it be right to assume there'd be scope for the value of those assets to double or at least increase substantially again if we were promoted at the end of next season?

Assuming that is part of the reason, then yes.  Or it could just be that the sales price has been apportioned over the cost of assets, and so they all had to be written down accordingly.

[dave.woodhall]

Look on the bright side - it's £79 million we're not paying tax on.  #dougonomics.

[sid1964]

I just read that Wolves made a £5 million profit, how can they do that and we cant?, to me we are massively over paying our players

We need to reduce the size of squad in the summer quite drastically and then have a 1st team squad of no more than 22 players, and we can then call upon the reserve team lads to make up the numbers as and when necessary.

[paul_e]

I don't understand how the tangible assets are now worth c.£40m less than before.
Assuming these include VP and BMH, what has changed? 
I'm guessing there must be some clever accounting reason why you would say these are worth less than previously estimated.
Unless that shop in New Street was more valuable than we thought.

It is a bit odd, to say the least.  Land and buildings were in the accounts at £88m, so it's nearly half the value they've written off.  Guessing slightly here, but it may have something to do with the fact that as we're now in a division lower, the stadium is generating less income.  Generally commercial property is valued based on the income it generates, so if you have an office block with a blue chip tenant on a ten year lease, it'll be worth more than the same building with a BHS in it.

Would it be right to assume there'd be scope for the value of those assets to double or at least increase substantially again if we were promoted at the end of next season?

Assuming that is part of the reason, then yes.  Or it could just be that the sales price has been apportioned over the cost of assets, and so they all had to be written down accordingly.

I'd assumed the latter given the sheer amount they've been reduced by, writing off over £70m at virtually same time you agree to sell the club for a little over £70m less than your previous valuation just seems too much of a coincidence for there to not be at least some correlation between the 2.

[ChicagoLion]

1 The adjustment is based on a new and accurate valuation of the asset.
2. It represents some potential future tax planning.
3 it sets up a sweetheart deal.

Take your pick.

[old man villa fan]

Heading off FFP issues?

[Risso]

1 The adjustment is based on a new and accurate valuation of the asset.
2. It represents some potential future tax planning.
3 it sets up a sweetheart deal.

Take your pick.

As Dave says, tax isn't really going to be an issue for a long time.

[Percy McCarthy]

An old boss of mine used to tell a story about selling vacuum cleaners door to door, one of the demonstrations was to edge past the lady of the house on the doorstep and throw soot on the floor, then use the new fangled vacuum cleaner to get it all up.

Reckons he did it once to a battle axe in Aston only to find out she didn't have any electricity. I never did believe him. He told a more convincing one about getting dog shit on the sleeve of his new suit from the arm of a chair in a Chelmsley flat.

Anyroad, we digress.

Playing up to your rampant prejudice no doubt.

I'm not sure that 'rampant prejudice' against the general population of Chemsley would have been good for either my family relations or my wallet, more that the family the story was about were well know in the office as being utter tramps.

I think you knew, but just in case you didn't, I was only joking.

[Malandro]

Fox.

[dave.woodhall]

Fox.

Sake.

[Risso]

Now on Companies House


It's not pretty.

[oswald funkletrumpet]

Now on Companies House


It's not pretty.

Whats the synopsis? Save me prentding i know what im looking at