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CAFC Ltd annual report 20/21
Scoham
Posts: 37,386
Recently made available on Companies House.
https://find-and-update.company-information.service.gov.uk/company/01788466/filing-history
https://find-and-update.company-information.service.gov.uk/company/01788466/filing-history
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Comments
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Wow, income halved during covid
- what would profit on disposal of leasehold assets £8M in 2021, £0 in 2020) relate to?0 -
TS has loaned the club £12m so far, including £1.5m this season.
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Plus additional future loans from Sandgaard to ensure going concern have been built into the 1year forecast.
There appears to be another 3rd party loan of £350k to facilitate investment in fixed assets of the youth academy. Wonder who that is?0 -
£362k director emoluments- that to current directors or previous directors?0
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So we have to pay Roland a non-disclosed payment if we are promoted to Premier League by 20300
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Looks like the annual rent for The Valley & Sparrows Lane is £623k0
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Section 29 - Related party transactions reads as a massive dig at Southall and co. Still makes me angry2
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If current then could be to Leo Rifkind rather than TS.AFKABartram said:£362k director emoluments- that to current directors or previous directors?0 -
Directors may include Roddy, Mumford and perhaps Gallen depending on the period coveted.AFKABartram said:£362k director emoluments- that to current directors or previous directors?
Could also be Southall1 -
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Southall was always the biggest and worst crook, even more than Quisling Amis.AFKABartram said:Section 29 - Related party transactions reads as a massive dig at Southall and co. Still makes me angry
Not excusing Farnell or Nimar but Southall was the pig with his snout in the trough.5 -
The club’s target for academy graduates making up the first team squad is 30%. It’s normally met but was 21% last season (6 of 28) but 4 were transferred during the season (Phillips, Doughty, doesn’t name the other two, who were they?).0
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Lapslie?Scoham said:The club’s target for academy graduates making up the first team squad is 30%. It’s normally met but was 21% last season (6 of 28) but 4 were transferred during the season (Phillips, Doughty, doesn’t name the other two, who were they?).1 -
I assumed Roddy and Mudford had Director in their job titles, never seen it announced they were on the board as Directors.Henry Irving said:
Directors may include Roddy, Mumford and perhaps Gallen depending on the period coveted.AFKABartram said:£362k director emoluments- that to current directors or previous directors?
Could also be Southall
Gallen was on the board at the end of the RD era but I assumed he came off when ESI came in2 -
Roddy and Mumford have never been directors of the company so not them. Directors during the year would be relevant and there were a few of them - Florica, Mihail and Nimer, as well as Rifkind and Sandgaard. Gallen wasn’t a director after the ESI takeover on Jan 2020, I.e. not in the relevant financial year.Henry Irving said:
Directors may include Roddy, Mumford and perhaps Gallen depending on the period coveted.AFKABartram said:£362k director emoluments- that to current directors or previous directors?
Could also be Southall3 -
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If that was the case though you’d expect the year 1-5 liability to be just shy of £2.5m and it’s not. It’s £2.315m. Plus the new deal didn’t kick in until part way through 2020/21, so the figure for this financial year won’t repeat.AFKABartram said:Looks like the annual rent for The Valley & Sparrows Lane is £623kIt looks as if it’s £579k but TS previously said it was £500k and there could be something else in there.0 -
Lapslie and Wiredu.Scoham said:The club’s target for academy graduates making up the first team squad is 30%. It’s normally met but was 21% last season (6 of 28) but 4 were transferred during the season (Phillips, Doughty, doesn’t name the other two, who were they?).2 -
£500k-£600k annual rent for both The Valley and training ground doesn’t feel THAT exorbitant to me.Airman Brown said:
If that was the case though you’d expect the year 1-5 liability to be just shy of £2.5m and it’s not. It’s £2.315m. Plus the new deal didn’t kick in until part way through 2020/21, so the figure for this financial year won’t repeat.AFKABartram said:Looks like the annual rent for The Valley & Sparrows Lane is £623kIt looks as if it’s £579k but TS previously said it was £500k and there could be something else in there.What do others think?0 -
Who has responsibility for maintenance etc?AFKABartram said:
£500k-£600k annual rent for both The Valley and training ground doesn’t feel THAT exorbitant to me.Airman Brown said:
If that was the case though you’d expect the year 1-5 liability to be just shy of £2.5m and it’s not. It’s £2.315m. Plus the new deal didn’t kick in until part way through 2020/21, so the figure for this financial year won’t repeat.AFKABartram said:Looks like the annual rent for The Valley & Sparrows Lane is £623kIt looks as if it’s £579k but TS previously said it was £500k and there could be something else in there.What do others think?0 -
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It will be an FRI lease - so Charltonse9addick said:
Who has responsibility for maintenance etc?AFKABartram said:
£500k-£600k annual rent for both The Valley and training ground doesn’t feel THAT exorbitant to me.Airman Brown said:
If that was the case though you’d expect the year 1-5 liability to be just shy of £2.5m and it’s not. It’s £2.315m. Plus the new deal didn’t kick in until part way through 2020/21, so the figure for this financial year won’t repeat.AFKABartram said:Looks like the annual rent for The Valley & Sparrows Lane is £623kIt looks as if it’s £579k but TS previously said it was £500k and there could be something else in there.What do others think?0 -
Would have thought that would fall on the club.se9addick said:
Who has responsibility for maintenance etc?AFKABartram said:
£500k-£600k annual rent for both The Valley and training ground doesn’t feel THAT exorbitant to me.Airman Brown said:
If that was the case though you’d expect the year 1-5 liability to be just shy of £2.5m and it’s not. It’s £2.315m. Plus the new deal didn’t kick in until part way through 2020/21, so the figure for this financial year won’t repeat.AFKABartram said:Looks like the annual rent for The Valley & Sparrows Lane is £623kIt looks as if it’s £579k but TS previously said it was £500k and there could be something else in there.What do others think?0 -
Sorry - I should have explained - an FRI lease is a Fully Repairing and Insuring Lease - so in effect the owner of the land passes over all maintenance to the tenant1
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It may be my maths are off but isn't £500k a hundreth of the £50m Roland wants? It would seem to be a decent rental price and more sensible than buying the assets.3
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It’s a lot better if you have Championship or PL revenue than it is in L1.AFKABartram said:
£500k-£600k annual rent for both The Valley and training ground doesn’t feel THAT exorbitant to me.Airman Brown said:
If that was the case though you’d expect the year 1-5 liability to be just shy of £2.5m and it’s not. It’s £2.315m. Plus the new deal didn’t kick in until part way through 2020/21, so the figure for this financial year won’t repeat.AFKABartram said:Looks like the annual rent for The Valley & Sparrows Lane is £623kIt looks as if it’s £579k but TS previously said it was £500k and there could be something else in there.What do others think?1 -
Must admit I thought it would be more than that.AFKABartram said:Looks like the annual rent for The Valley & Sparrows Lane is £623k0 -
That is true, but owning the ground or not, the club is not a L1 club and those that have kept it there over the years should be ashamed.Airman Brown said:
It’s a lot better if you have Championship or PL revenue than it is in L1.AFKABartram said:
£500k-£600k annual rent for both The Valley and training ground doesn’t feel THAT exorbitant to me.Airman Brown said:
If that was the case though you’d expect the year 1-5 liability to be just shy of £2.5m and it’s not. It’s £2.315m. Plus the new deal didn’t kick in until part way through 2020/21, so the figure for this financial year won’t repeat.AFKABartram said:Looks like the annual rent for The Valley & Sparrows Lane is £623kIt looks as if it’s £579k but TS previously said it was £500k and there could be something else in there.What do others think?1 -
Bet you we are.MuttleyCAFC said:
That is true, but owning the ground or not, the club is not a L1 club and those that have kept it there over the years should be ashamed.Airman Brown said:
It’s a lot better if you have Championship or PL revenue than it is in L1.AFKABartram said:
£500k-£600k annual rent for both The Valley and training ground doesn’t feel THAT exorbitant to me.Airman Brown said:
If that was the case though you’d expect the year 1-5 liability to be just shy of £2.5m and it’s not. It’s £2.315m. Plus the new deal didn’t kick in until part way through 2020/21, so the figure for this financial year won’t repeat.AFKABartram said:Looks like the annual rent for The Valley & Sparrows Lane is £623kIt looks as if it’s £579k but TS previously said it was £500k and there could be something else in there.What do others think?6 -
It's a bit of a bargain really. Birmingham FC, for a similar size stadium, (not sure if the training ground is even included) have a rental agreement running until 2031. It is £1.25mn per year - double the amount we are paying. In addition there is a rent review in 2025 when the rent will go up somewhere between 5-22% depending upon UK interest rates.1
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I don't think it's terrible and you have to look at the thing in the round - Duchatelet had saddled the club with £44m of debt when he sold it to ESI. However, the key question is always affordability - Birmingham's turnover is circa £23m; Charlton's is about a third of that in L1 and two thirds of that in the Championship. It's a big chunk of the income for something that cost a notional £50k a year for the previous 30 years - equivalent to about a quarter of all season-ticket revenue. Think of it as not buying - or selling - a £500,000 player every season.1
