iscalad
Very well known Exeweb poster
Not being to au faith with this sort of thing, I would suggest the catering difference was down to Covid in the 2021 figures.Reading through that as a layman it all seems to make sense and thanks for breaking that down from Accounting gobbledygook!
The Food and Drink difference is pretty startling. Going from £5965 to £408290. What were we doing before, giving it away?!
The highest paid Director on £49253 needs more of an explanation, particularly as no one puts one penny of their own money in and so risks/loses nothing. The figure is in the public domain so everyone knows and in the spirit of openness and transparency a breakdown of what exactly the return of this is justified in my eyes at least as a Trust Member and Supporter. Every single penny spent should be justified to make sure we as The Owners are getting full value and continue to.
Presumably the property lease arrangement is ‘ a mates rates’ contract otherwise isn’t there a conflict of interest, no matter how well intentioned it appears to be.
Again as I’ve said before £17174 to McQueenie Mulholland on a rolling contract (isn’t that a red flag straight away?!) needs an explanation. Again it could be seen as a conflict of interest.
OTR……. I might be thick but I can’t get my head around this. A company set up in 1999 with an interest free loan by the then Directors who were joined by other ‘ investors’ in 2001 and subsequently sold off some of the land for building for apparently @£180000 which was used to repay some of the original loans and then in 2018 the club paid Mr Perryman and Mr Tagg £45000 to repay their loans still owes £326,616?! Back in 2014 the club was paying an annual rent of @£42000 and according to the latest accounts has just renegotiated a new ten year £60000 a year deal! If you only have a limited income mostly covered by selling players on why are still paying out this amount of money when we according to Mr Tagg can demand to purchase OTR by paying off the remainder of the loan with no interest or dividend.