ECFCST FANS FORUM Thursday 19th January 2023 at SJP

[Number13]

Can someone give us bullet points of the important issues brought up / discussed please

 

[SaintJames]

When you pay a transfer fee that payment is considered to be asset which lasts as long as the contract the player signs. The amortisation is the spreading of that payment over the life of the contract.

Example: we pay £100,000 for a player who signs a 3 year contract. On day 1 the £100,000 is put on the balance sheet as an asset (intangible fixed asset - intangible means it’s not something you can touch, like a building or a car, and fixed means it has a useful life of more than one year).

FBH, very helpful to another non accountant presumably different to my equipment which was depreciated over a period of 7 years because it was a tangible asset?

 

[fred binneys head]

FBH, very helpful to another non accountant presumably different to my equipment which was depreciated over a period of 7 years because it was a tangible asset?

Yep, you depreciate tangible assets and amortise intangible assets, but both represent the spreading of a cost of a long-term asset over the period you expect to benefit from using that asset - the useful life of a contract is pretty easy to determine as it's the contract length, but the useful lives of other assets need to be estimated.

 

[andrew p long]

An excellent presentation and document on its way.

I think there was a request for volunteers for a focus group to give feedback . Is that right? If so can anyone point me in the right direction as to who to contact on volunteering to help?
IIRC Nick hawker said to email him or the Secretary of the Trust. I can't find their specific email addresses on the contact page of the Trust website.

PS I also wanted to volunteer - if it would help - on the task of tracking whether transfer add on/sell on payments were becoming due. Justin said this aspect was very time consuming for the (finance?) staff. I try to do this for fun anyway (though without knowledge of the relevant transfer clauses )

 

[Grecian in Guzz]

An excellent presentation and document on its way.

I think there was a request for volunteers for a focus group to give feedback . Is that right? If so can anyone point me in the right direction as to who to contact on volunteering to help?
IIRC Nick hawker said to email him or the Secretary of the Trust. I can't find their specific email addresses on the contact page of the Trust website.

PS I also wanted to volunteer - if it would help - on the task of tracking whether transfer add on/sell on payments were becoming due. Justin said this aspect was very time consuming for the (finance?) staff. I try to do this for fun anyway (though without knowledge of the relevant transfer clauses )

Suggest email the following is a starter for 10

[email protected]

[email protected]

 

[Pete Martin (CTID)]

An excellent presentation and document on its way.

I think there was a request for volunteers for a focus group to give feedback . Is that right? If so can anyone point me in the right direction as to who to contact on volunteering to help?
IIRC Nick hawker said to email him or the Secretary of the Trust. I can't find their specific email addresses on the contact page of the Trust website.

PS I also wanted to volunteer - if it would help - on the task of tracking whether transfer add on/sell on payments were becoming due. Justin said this aspect was very time consuming for the (finance?) staff. I try to do this for fun anyway (though without knowledge of the relevant transfer clauses )

[email protected]

 

[ExmouthMart]

Corrected for factuals. The notion that "he also wrote off a considerable amount of money to allow the Trust to start the Club again" is a juxtaposition of two erroneous statements. Firstly he did not "allow the Club to start again". A decision taken by the Directors he had appointed during 2003 to take over the running of the Club decided against the notion of becoming a 'Phoenix Club' since this would have entailed starting again in tier 7 (even if exisitng creditors had not liquidated the club). The R&L year had racked up losses of £643,538 for the Club, and Ivor had remained as an active Director. The Club was due to face winding up proceeding in September 2003, and just before this the three Directors, with legal advice decided to attempt to move to a CVA - which actually saved the Club - it never 'started again''. As for writing off a considerable amount of money, undoubtedly so, but did all the Directors who resigned after the visitation by the Football Compliance Unit during 2003, as well as those companies who eventually settled for 7.2p in the £ for theri debts. It's also worth remembering that in the season 2002-2003 the club had spent a record £1,570,132 on playing staff (which included three managers) for which all Directors were collectively responsible. Compare and contrast with what you'll probably hear at the meeting tonight about finances.

Didn’t say he allowed the Club to start again. He and others lost a lot of their own money, which wouldn’t happen now as we all collectively ‘own’ the club and don’t risk our own money, only a token amount every month.
If you and others blame Ivor Doble for the financial mess why not say so and then everyone will understand why he seems to want to be quietly forgotten about. I personally remember the good times as well when we were playing flowing, free scoring football not seen since. I wonder if Julian Tagg has already been measured up for a life size statue………

 

[John William]

I wonder if Julian Tagg has already been measured up for a life size statue………

Larger than life, surely?

 

[David Treharne]

If you and others blame Ivor Doble for the financial mess why not say so and then everyone will understand why he seems to want to be quietly forgotten about.

This is not a binary choice. I don't have to blame either Ivor Doble or some other factors for the financial mess that the club was consistently in from the late 70's onwards. It's possible that there were a plethora of reasons for Ivor Doble declaring in the Express and Echo on 20th March 1995 that "we must give the football league assurances that we have a long term future" or the fact that on 23rd June the same year the Directors were, according to the Express and Echo under the heading 'Impoverished City" were said to be likely to have to close the away end for season 1995-96 because work costing around £20,000 has not been carried out'. (Incidentally the embryonic Trust - not the current one- stumped up £5k to get the work done). Possibly there were other good reasons why the same E&E quoted Ivor Doble as saying that not only was the Club up for sale, but that "no asking price has been decided but £750,000 would not cover the debts". Incidentally, who 'the others' that you mention?

I personally remember the good times as well when we were playing flowing, free scoring football not seen since. I wonder if Julian Tagg has already been measured up for a life size statue………

I suspect that the times when the club was playing 'flowing, free scoring football' may have rather more to do with a manager on inflated wages with a team that was subsequently dismantled because it was unaffordable, and who resigned in April 1995 for pretty much the same reason, than it was to do with the Club Board. Your dig about Julian Tagg is unworthy. Having worked with Julian since 2002 I'd reckom he's pretty much the rerason why the Youth scheme is as successful today as it is, and he's been p onmi-present since then. If you'd take the time to talk to him he'd certainly admit to making mistakes along the way. I'm not going to be an apologist for him, and his range of motor vehicles has been an ongoing topic of discussion on Exeweb, but I think that the checks and balances that the Trust try to impose of the running of the Club seem a better way of proceeding that being subject to the whims and skills of an individual.

 

[ExmouthMart]

This is not a binary choice. I don't have to blame either Ivor Doble or some other factors for the financial mess that the club was consistently in from the late 70's onwards. It's possible that there were a plethora of reasons for Ivor Doble declaring in the Express and Echo on 20th March 1995 that "we must give the football league assurances that we have a long term future" or the fact that on 23rd June the same year the Directors were, according to the Express and Echo under the heading 'Impoverished City" were said to be likely to have to close the away end for season 1995-96 because work costing around £20,000 has not been carried out'. (Incidentally the embryonic Trust - not the current one- stumped up £5k to get the work done). Possibly there were other good reasons why the same E&E quoted Ivor Doble as saying that not only was the Club up for sale, but that "no asking price has been decided but £750,000 would not cover the debts". Incidentally, who 'the others' that you mention?


I suspect that the times when the club was playing 'flowing, free scoring football' may have rather more to do with a manager on inflated wages with a team that was subsequently dismantled because it was unaffordable, and who resigned in April 1995 for pretty much the same reason, than it was to do with the Club Board. Your dig about Julian Tagg is unworthy. Having worked with Julian since 2002 I'd reckom he's pretty much the rerason why the Youth scheme is as successful today as it is, and he's been p onmi-present since then. If you'd take the time to talk to him he'd certainly admit to making mistakes along the way. I'm not going to be an apologist for him, and his range of motor vehicles has been an ongoing topic of discussion on Exeweb, but I think that the checks and balances that the Trust try to impose of the running of the Club seem a better way of proceeding that being subject to the whims and skills of an individual.

I was just wondering out loud if the reluctance to remember Ivor Doble was because of the mess at the end of private ownership. I just wondered why his name was hidden away on a stand named after him and why the club thinks sponsors would not want to be associated with him. I didn’t know him personally but he seemingly was a respected local businessman of many years standing judging by the tributes at the time of his passing. Whether you like him or not he was involved in significant parts of our history and should be remembered accordingly.
I think you are being very disrespectful to Terry Cooper. So he didn’t deserve his in your words ‘inflated wages’?! The best season ever and a proper promotion with a team of real quality players. Seems a bit rich as well considering the Tisdale saga and getting rid of him or not getting rid of him because the club couldn’t afford to sack him.
As for Julian Tagg. He just seems to be a permanent fixture in one form or another and the butt of expensive car jokes on Exeweb. Bit worrying though that the trust only try and impose balances and checks on those running the club. In view of our recent history you would like to think they were doing a bit more than trying…..