[Archived] Venkys London Limited - Accounts

[Glenn]

We also have another registered accountant lined up, but he's just too damned busy!

[AndyNeil]

Can we not just cut the he said she said and get a registered accountant on record on a podcast?

Chartered Accountant, bookkeeper, accounts assistant - anybody involved on a day to day basis with figures can tell you that these aren't good...and given that income will drop, lots against expenditure of dropping a little it doesn't take a rocket scientist (or in this case Chartered Accountant) to tell you the finances aren't good and will be even worse if there isn't a significant surplus from player trading and/or money introduced (by whatever means) into the club by Venkys or a third-party source.

[Rover_Shaun]

Philipl has been on Podcast and he is a Chartered Accountant.

I know of at least one other Chartered Accountant who has passed comment on these accounts on this thread.

How many opinions do you require ?

Indpendant and heard live and on the record and not third hand from the pub ;-)

[bob fleming]

It doesn't take an accountant of any sorts to know that we're in the crap. Drop out of the Premier League and nine times out of ten at any sane club there's a fire sale. What do we do ? Bring a 30 year old carthorse in on 4 year expensive contract, give 2 year contracts to two 35+ year olds, break / match the clubs transfer record and then buy 4 or 5 unknown players from Portugal. We don't have a shirt sponsor, we have hardly any sponsors. But we have saved money on chairs - woopie keaning doo.

How anyone can have any semblence of confidence that these clowns will bank roll us to the tune of God knows how many millions of pounds is beyond me. They have not made a single sensible decision in 2 years. If they care they have a funny way of showing it. It's all so very confusing - it must be a right pain in the backside to create a balance sheet.

Meanwhile those "directors" at the top (Agnew, Singh and Shelfy - aka ASS) will be lining their pockets and will eventually walk away loaded. Whereas we will be left without a pot to pi$$ in.

[PAFELL]

When it comes to accounts I am useless. (Though I do the basics, such as how much beer I need to buy, to sell for how much and what the profit is etc) But even I can tell rovers are screwed unless there is significant funding. Promotion is essential. Bums on seats etc etc.

[Mike Graham]

Meanwhile those "directors" at the top (Agnew, Singh and Shelfy - aka ASS) will be lining their pockets and will eventually walk away loaded. Whereas we will be left without a pot to pi$$ in.

Do the accounts show how much these Executive Director goons are being renumerated?

[perthblue02]

In the past we were made aware by John Williams that the club were presented with mandates to sign from Agents for deals that they were unaware of , so I would assume that John Williams would have been one of the people to sign these off at the club.

So who at the club would sign these off if such mandates were presented in such a way again? Will Shebby be one even though he is not a club employee? if so who would the task of signing these off fall to should Shebby be relieved of his current position presuming no other changes in personnel take place ? Or is everything now signed off at Venky HQ

[RoverScot]

Do the accounts show how much these Executive Director goons are being renumerated?

Not Shebby's but the highest paid director is £118,393, with 5 directors: D Shaw, P Agnew, K Silk, R D Coar, R Gandhi Babu collectively paid £482,280.

Highest paid before was £243,558 and collectively 4 directors were paid £599,993

[Plastic Head]

The struggle to regain Blackburn Rovers is lost.

The infighting on here and words and plans from the fans forum, Brag, the trust et al are simply like doctors fighting over who should treat an already dead patient.

To save further embarrassments I no longer consider myself a fan or supporter after 40 years of loyal and consistent support, I am simply now an interested observer.

My sporting time is now spent on other events than football.

If anyone wants a proper football club to follow in the BB area, there is a ground a mile from Ewood, I would think anyone with a bit of cash to spare wanting to be part of a proper local club should invest in Darwen FC, renaming it or whatever. After all there are more fans from 2 years ago not going now than are so there is a substantial potential base to kick the project off.

My view is Rovers will be relegated this and the Venkybitches nightmare will somehow continue even in League One.

[Plastic Head]

That could be said about any club in the league, but the truth is to date they have put money in, and regardless of if its via an interest loan from them or a gift, its far better than it being a loan from the bank where interest is accrued and the clubs assets were used as the security

Whilst the clubs overdraft facility is half of what it was, yet there is no stories coming out of people not getting their wages.

The fact the clubs assets are no longer secured against debt, is not just a positive its a massive relief

Dave Whelan has put millions n million into wigan and continues to do so, just for them to tick over. What happens when he wants his money back? That wont be happening as he has already stated he does not want the money back.

I think this is a little bit like saying Morecambe are better off than Man Utd because they make money whereas Man Utd lose millions.

Rovers turnover will soon be a fraction of what is was but yes the club may not be losing any money, albeit we will be in League one (or two) with no hope of ever returning to the top flight.

[TBTF]

I think this is a little bit like saying Morecambe are better off than Man Utd because they make money whereas Man Utd lose millions. Rovers turnover will soon be a fraction of what is was but yes the club may not be losing any money, albeit we will be in League one (or two) with no hope of ever returning to the top flight.

Anyone who says we may not be losing money is in cuckoo land.We are spewing cash for fun.Venkys big decision is do throw more at it (assuming they do have it) and gamble or write off £50 million which is what it will cost if they walk now.

Their only hope is to try to recover some of their outlay by somehow , miraculously getting back to the Prem this year.Otherwise its more money down the drain.

Even in La la land this now has to be a serious discussion for these nutters as to what to do next.Have to agree with Nixon on Radio Lancs tonight in that they have to walk now.

Then we will have a proper disaster on our hands because nobody in their right mind would inherit this mess with all its running costs.

Admin beckons within 12 months max but more likely if we are safe around March we will take the points deduction. I really see that coming and its gut wrenching in the extreme.

[92er]

Not Shebby's but the highest paid director is £118,393, with 5 directors: D Shaw, P Agnew, K Silk, R D Coar, R Gandhi Babu collectively paid £482,280.

Highest paid before was £243,558 and collectively 4 directors were paid £599,993

Shaw and Agnew were appointed in the new financial year.

I'm not sure if Singh is actually paid via the club.

[allan]

The club is heading for administration and the sooner the better. The only comfort is that football clubs invariably survive and avoid liquidation because the only asset they need is a stadium and it has no alternative use. Certainly not in the bomb site that the Ewood area has always been.

[Athlete]

Anyone who says we may not be losing money is in cuckoo land.We are spewing cash for fun.Venkys big decision is do throw more at it (assuming they do have it) and gamble or write off £50 million which is what it will cost if they walk now.

Their only hope is to try to recover some of their outlay by somehow , miraculously getting back to the Prem this year.Otherwise its more money down the drain.

Even in La la land this now has to be a serious discussion for these nutters as to what to do next.Have to agree with Nixon on Radio Lancs tonight in that they have to walk now.

Then we will have a proper disaster on our hands because nobody in their right mind would inherit this mess with all its running costs.

Admin beckons within 12 months max but more likely if we are safe around March we will take the points deduction. I really see that coming and its gut wrenching in the extreme.

Admin in March if entirely safe with and including a points deduction may be our best and most viable option and then hope some one picks up the club for pennies or the trust take over unless the lunes from Pune and prepared for one big last gamble to get us back up , but at this point it would mean a possible new management structure and big money spent in Jan but they'd also have to bear in mind we are 8 points adrift of the play offs at this stage.....

[Tardyrover]

The club is heading for administration and the sooner the better. The only comfort is that football clubs invariably survive and avoid liquidation because the only asset they need is a stadium and it has no alternative use. Certainly not in the bomb site that the Ewood area has always been.

WHAT A COCK!

[philipl]

Indpendant and heard live and on the record and not third hand from the pub ;-)

Well look at the accounts yourself then.

[chris_h]

Philipl has been on Podcast and he is a Chartered Accountant.

I know of at least one other Chartered Accountant who has passed comment on these accounts on this thread.

How many opinions do you require ?

Maybe the opinion of an accountant without an agenda?

[philipl]

My agenda is as a lifelong Rovers supporter.

I was probably too kind and forgiving in my assessment.

[Guest Wen Y Hu]

Podcast 52 provides further discussion of the accounts by Andy Neil (FernhurstRover) and Dan Grabko to follow up on philipl's examination of the accounts in Podcast 50.

[rhodie]

Well it could be worse we could be Man city supporters .... Lol can you imagine our lot with those losses?

[chris_h]

My agenda is as a lifelong Rovers supporter.

I was probably too kind and forgiving in my assessment.

Oh, right. So what are the projected loses now? £200m?

I know there are those on here who value your contribution, it's just that I'm not one of them. I seriously doubt that your posts are motivated by a support for Rovers but that, of course, is my opinion.

I do think it's pertinent however, that a number of unconnected people feel the same way.

[Stuart]

Oh, right. So what are the projected loses now? £200m?

I know there are those on here who value your contribution, it's just that I'm not one of them. I seriously doubt that your posts are motivated by a support for Rovers but that, of course, is my opinion.

I do think it's pertinent however, that a number of unconnected people feel the same way.

As annoying as Philip's teasing posts can be, I don't believe he has anything other than Rovers at heart.

[Ricky]

Agree Stuart. I am as quick to have a go about Phils sensationalist posts. However he's as much as a rovers fan as anyone.

[Mercer]

Oh, right. So what are the projected loses now? £200m?

I know there are those on here who value your contribution, it's just that I'm not one of them. I seriously doubt that your posts are motivated by a support for Rovers but that, of course, is my opinion.

I do think it's pertinent however, that a number of unconnected people feel the same way.

IMO, and experience, PhilipL is spot on in his interpretation of, and fear for, Rovers' financial position.

If as a genuine Rovers' fan, you have a genuine concern about what is happening at Rovers, then you should articulate your views and that is what he's done.

Happy Christmas and let's hope that 2013 is better for all connected to Rovers.

[Daniel Louis Grabko (Dan)]

IMO, and experience, PhilipL is spot on in his interpretation of, and fear for, Rovers' financial position.

If as a genuine Rovers' fan, you have a genuine concern about what is happening at Rovers, then you should articulate your views and that is what he's done.

Happy Christmas and let's hope that 2013 is better for all connected to Rovers.

Here here, Mercerman! Merry and Happy Christmas to all!