Since ambition at some point has to take into account the art of the possible. All this may be known to most of you, but having stepped up my quiet interest on Saturdays at home to include away games when I can and contributions to the BB, I decided to do some financial research on HFC Ltd myself.
The last returns made by the club to Companies House cover the annual accounts to 31 December 2006 and annual return of shareholders etc.
There is no Profit & Loss as the club is entitles to submit abbreviated account which just show the balance sheet. The highlights from this at 31/12/06 are:
1) Net liabilities increased in 2006 by £142,477 (In other words this was the loss for the year)
2) Queen Street is not shown as an asset, I think as the tangible assets are on £58,169
3) Long term creditors (bank borrowing I guess) stands at (£555,785) with short term debt of (£122,882) as well
4) Total net liabilities of the club as stated after taking into account £62,905 share capital are (£603,909).
Clearly the borrowing are supported by the site and I don't know if this is held in a trust arrangement or excluded because of sale and since what will be paid for it depends on the final planning permission is not in these numbers.
The shareholder register is interesting for a number of reasons.
1) There are 6,985 shares in issue with the trustees holding 2,666, WSCT holding 266, Travis Perkins 267, several others holding 200 each.
2) All the directors hold up to 200 but lots (50ish) of others hold 1 or two shares.
3) JM holds shares as well as does the "Horsham Football Supporters Assn?
4) Finally and most interestingly it seemed to me that most of the current committee, vice presidents, other officials etc don't hold shares.
Does anyone know more about the terms of the sale of QS?
The last returns made by the club to Companies House cover the annual accounts to 31 December 2006 and annual return of shareholders etc.
There is no Profit & Loss as the club is entitles to submit abbreviated account which just show the balance sheet. The highlights from this at 31/12/06 are:
1) Net liabilities increased in 2006 by £142,477 (In other words this was the loss for the year)
2) Queen Street is not shown as an asset, I think as the tangible assets are on £58,169
3) Long term creditors (bank borrowing I guess) stands at (£555,785) with short term debt of (£122,882) as well
4) Total net liabilities of the club as stated after taking into account £62,905 share capital are (£603,909).
Clearly the borrowing are supported by the site and I don't know if this is held in a trust arrangement or excluded because of sale and since what will be paid for it depends on the final planning permission is not in these numbers.
The shareholder register is interesting for a number of reasons.
1) There are 6,985 shares in issue with the trustees holding 2,666, WSCT holding 266, Travis Perkins 267, several others holding 200 each.
2) All the directors hold up to 200 but lots (50ish) of others hold 1 or two shares.
3) JM holds shares as well as does the "Horsham Football Supporters Assn?
4) Finally and most interestingly it seemed to me that most of the current committee, vice presidents, other officials etc don't hold shares.
Does anyone know more about the terms of the sale of QS?
