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Financial Results

Great news on the CPO notice to vacate dates.

The financial accounts never make much sense in isolation like this because for tax reasons ENIC move money between us and offshore companies like Tavistock and TH Property Ltd etc.

In this case much of the £60m profit was the £40m transfer from Tavistock to clear our debts to enable us to get more favourable mortgage rates for the stadium.
 
Great news on the CPO notice to vacate dates.

The financial accounts never make much sense in isolation like this because for tax reasons ENIC move money between us and offshore companies like Tavistock and TH Property Ltd etc.

In this case much of the £60m profit was the £40m transfer from Tavistock to clear our debts to enable us to get more favourable mortgage rates for the stadium.

I think the £40m (from ENIC rather than Tavistock?) will only be a balance sheet transaction and not be included in the profit. It was simply an interest free, unsecured loan with the intention that it would be converted to preference shares in future (which may have happened by now).
 
So looking at Arsenals financial report in 2003 which would have been before the build of emirates they had a debt of 60mil. Be interesting to track those figures over next few years to see how they stack up through the build costs.
 
I think the profit will be because of the Bale transfer. My understanding is the profit is the amount above the amortised value on the books, regardless of whether we spend the money on other players.
 
I think the profit will be because of the Bale transfer. My understanding is the profit is the amount above the amortised value on the books, regardless of whether we spend the money on other players.
That's correct - there's no loss in buying a player because you're just converting cash into an asset (or getting an asset and a debt) of equal value.
 
Great news on the CPO notice to vacate dates.

The financial accounts never make much sense in isolation like this because for tax reasons ENIC move money between us and offshore companies like Tavistock and TH Property Ltd etc.

In this case much of the £60m profit was the £40m transfer from Tavistock to clear our debts to enable us to get more favourable mortgage rates for the stadium.

I don't wish to single you out GB but I do wish that you would stop posting opinion and speculation as fact or at least attempt to support it.
 
No doubt Swiss Ramble will do some analysis of our numbers in the not to distant future. This week it's Aston Villa and it included one direct comparison with us:

19%2BAston%2BVilla%2BWages%2Bvs%2BSpurs%2B2014.tiff


http://swissramble.blogspot.ch/2015/03/aston-villa-lost-in-supermarket.html
 
Don't know whether he has itk but David Lammy on TalkSport a few moments ago implied there is still uncertainty around funding for the new stadium. Said something along the lines everything else is now in place, he just hopes sufficient funding can be found for the project to finally go ahead.
 
I'm sure we had prove of funds to build the stadium shown to the judge in the last appeal hearing. I think this may be in the form of a loan agreement with a bank but I'd be surprised if we built the whole stadium with the use of a loan. Probably used a loan agreement in the court case to keep any commercial deals on the quiet.
 
I don't wish to single you out GB but I do wish that you would stop posting opinion and speculation as fact or at least attempt to support it.

Ok. So here's the bit about the £40m transfer from Tavistock (first para under fundraising): http://www.tottenhamhotspur.com/news/financial-results-shareholder-and-stadium-update-020414/

And here's info about the property transactions being done through a Bahamas-based company called TH Property Ltd: http://www.theguardian.com/football/2013/oct/30/tottenham-new-stadium-local-business-demolition

This is all from 12-18 months ago, so I assumed it was common knowledge
 
I think the £40m (from ENIC rather than Tavistock?) will only be a balance sheet transaction and not be included in the profit. It was simply an interest free, unsecured loan with the intention that it would be converted to preference shares in future (which may have happened by now).

In fact, it's a reasonable conclusion that the loan from ENIC was converted to equity during the year ended 30 June 2014. Net assets increased by £105.3m, from £78.4m to £183.7m. £65.3m of the increase is due to the year's profit, which leaves an apparent difference of £40m - the same amount as the ENIC loan.
 
The first purpose built facility specifically designed to provide the best possible learning environment for people diagnosed with autism in the world.

I fudging love this club.
 
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