SANFL Clubs 2005 Financial Reports

[Jimmy]

I just had a look at the Sturt Accounts - $5,000 profit for SFC and $102,000 loss to the Unley Community Sports Club. The respective committees have a bit of hard work to do as in both cases the current liabilities exceed the current assets. In laymans terms money is tight and they will rely on the goodwill of their creditors to allow them extra time to pay their bills. I hope that they are able to work their way out of this situation. They also need a proof reader as there are a few errors on the UCSC accounts!

A few venues bringing in the coin will sort this out...oh wait a minute...thats about done :D

[ElizabethVCRThief]

... the current liabilities exceed the current assets...

As far as i can see both the Sturt FC ($~80k) and the UCSC ($~1.1m) are in front on the asset vs. liabilities ratio...or am i reading things incorrectly?

[doggies4eva]

The word to note is "current" this means things that are aither cash or readily turned into cash. Try paying your bills with furniture or the $1m in intangibles (gaming licences).

But then again if you are a VCR theif you can probably turn these things into cash fairly quickly!!

[sturtboy]

Yes,that's right,it has been common accounting practice to include ALL ASSETS AND LIABILITIES ON A BALANCE SHEET.So VCR,you are correct.Doggies 4 eva,you need to refer to the PROFIT/LOSS statement for REVENUE and EXPENDITURE!

[phantompanther]

oh dear "beating the pokie rich teams". "pokie free premiers"

I see the tory party is setting itself as the exempler of social equity. if they are so keen to be without them don't be breaking your neck to get out on unley road

[doggies4eva]

Sturtboy, I have looked at both the P&L and the Balance Sheet -incorrectly called the "Statement of Financial Performance" which is what the annual result is. This statement should have been called the "Statement of Financial Position". I'll call them the P&L (Profit and Loss) and Balance Sheet as thats what they have traditionally been called. Anyway the P&L shows a $102,000 loss and the balance sheet shows all assets exceed all liabilities by $1.068m. Sounds healthy! But what are the main assets? Look at the intangible assets of $1.162m - the notes show them as Gaming licences. So the net worth of the club is less than the value of the licences. I don't know if these licences are a saleable asset but Sturt seems to be gambling all on the pokies! (pun intended).

The worry for SFC is the payables of $282,000 and less than $10,000 in the bank! Note 9 shows sundry creditors (ie non trade creditors as $262,000). I would hazard a guess that these are unpaid player payments - the most likey form of non trade creditor for a football club. What does this all mean? If I'm right the players will have to wait to be paid. For the sake of SFC I hope the pokies cash starts rolling soon!

[westside]

Doesn't a club receive the bulk of its membership funds before the season starts anyway?

[sturtboy]

Still,we will be the last team to ever win the flag w/o the aid of pokies.Some teams can have 3 or 4 and their premiership drought will continue for another 40 years.P.S. There is no Tory party in Australia and why be a phantompanther,it's not as if you can remain anonymous amongst the multitudes of south supporters.

[sturtpeter]

I urge all current Sturt Members to renew their memberships now and what is not a better gift than a Club Membership to your Sturt mates, family etc who are not already members?

[sus]

Im not too good at reading financials but, reading from the Annual Report, I think the Eagles showed a $130K profit for 2005.

[doggies4eva]

WWTFC profit of $139,231 and Eagles Club profit of $137,957 making a combined $277,188.

sus`- see prior posting

[Wedgie]

All updated now and put in order of result, anyone confirm the West result?

Centrals $347,000 profit (confirmed)
North $278,000 profit (confirmed)
Eagles $277,188 (confirmed)
South $260,000 (confirmed)
West $110,000 profit
Glenelg $32,070 profit (confirmed)
Port $11,462 profit (confirmed)
Sturt $90,920 loss (confirmed)
Norwood $434,686 loss (confirmed)

A very good sign for the SANFL that 7 out of the 9 clubs are running at a profit.

[Grand Central]

A combined profit of $800,000.

Be prepared for the pokies knockers to use that figure against us. Particularly those with an issue about clubs not reducing pokies from 40 to 32.

[redandblack]

I originally posted the West profit, Wedgie.

I'm sure it's correct.

[westside]

A combined profit of $800,000.

Be prepared for the pokies knockers to use that figure against us. Particularly those with an issue about clubs not reducing pokies from 40 to 32.

I thought the 350,000 figure for Central was a combined club + grand central figure.

Can you clarify?

[Wedgie]

A combined profit of $800,000.

Be prepared for the pokies knockers to use that figure against us. Particularly those with an issue about clubs not reducing pokies from 40 to 32.

I thought the 350,000 figure for Central was a combined club + grand central figure.

Can you clarify?

I can probably do that tomorrow as I've got their Financial report copied somewhere thanks to Dogmatic.

[westside]

Wedie, if you have north's report handy, can you tell me what the club's net asset position is?

[Grand Central]

$350,000 is Central's combined football club and footballers club results.

(The $800,000 figure is the rough total for all SANFL clubs).