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DCCC Financial Statement

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As a Non-Accountant

Still looks tight to me. Note that a £2 million and a little bit profit and it could be said that £2 million of that was due to an ECB compensation payment which won't repeat.

Also they won't have to pay a big figure for a non-lucrative Test Match next year.

I'd guess finances are on an even keel but they're certainly not rolling in it.
 
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Bri said:
As a Non-Accountant

Still looks tight to me. Note that a £2 million and a little bit profit and it could be said that £2 million of that was due to an ECB compensation payment which won't repeat.

Also they won't have to pay a big figure for a non-lucrative Test Match next year.

I'd guess finances are on an even keel but they're certainly not rolling in it.
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After 18 months of prudence, they/we can’t expect to be solvent or thriving :confused:
 
Once you strip out the increase in ECBpayment we're about 700k better YOY.

300k of that is due to a better result on the England international, the rest due to genuine savings.
 
Small operating profit and net creditors of around £9m.

It's a reasonably healthy statement for a going concern, but with revenues at those levels the road to being debt free is a long one.
 
Parkside said:
Very detailed statement on 2016-17 finances.
You must be logged on to see external links

They appear to be much improved but any accountants out there who can give a brief overall picture?
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@Grumpy Old Man can you decipher the meaning of these? We may as well have wearsides other main sporting team in the shit still
 
hank evans said:
@Grumpy Old Man can you decipher the meaning of these? We may as well have wearsides other main sporting team in the shit still
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First thought is that they look a damn sight healthier than SAFC's :)

Seriously, though. The main worry looking ahead is that the income next year will fall by around £2m, as the ECB compensation amount won't be repeated. Having said that, on the basis of press reports (I haven't tried to hunt down detail), they seem to be doing reasonably well in comparison to other counties (excepting Middlesex and Surrey, who are, well, different, due to the amount flowing in from internationals). The cost base looks to be pretty well controlled, and I'd suggest that 2018 will probably end up as breakeven at worst, with a profit in the £250-500k my likely best bet.The balance sheet position is pretty good, especially when you factor in the FRS requirement to show preference shares as a creditor, which makes the nett assets position look a bit weaker than it really is.. If they can manage the cash flow properly, they should be OK. A good run in the T20 or the 50 over cup wouldn't hurt, and the County Championship campaign can only be better for the absence of a 30 point deduction. Main pitfall would be spending too much on player recruitment chasing promotion (now that sounds familiar).
 
What are the terms of the ecb one off payment? Assume no further amounts in future years and how long does it handcuff the Club?
 
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