Our Debt a year ago was over $12Mill.....
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Our Debt a year ago was over $12Mill.....
.....it is now $10.3Mill.
Material Uncertainty Related to Going Concern
We draw attention to Note 1(b) in the financial statements, which indicates that, as at 31 October 2018, the Group’s current
liabilities exceeded its current assets by $10,287,306. As stated in Note 1(b), these events or conditions, along with other
matters as set forth in Note 1(b), indicate that a material uncertainty exists that may cast significant doubt on the Group’s
ability to continue as a going concern. Our opinion is not modified in respect of this matter.
Material Uncertainty Related to Going Concern
We draw attention to Note 1(b) in the financial statements, which indicates that, as at 31 October 2018, the Group’s current
liabilities exceeded its current assets by $10,287,306. As stated in Note 1(b), these events or conditions, along with other
matters as set forth in Note 1(b), indicate that a material uncertainty exists that may cast significant doubt on the Group’s
ability to continue as a going concern. Our opinion is not modified in respect of this matter.
NeXus Nick is back but where is Joffaboy????
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Re: Our Debt a year ago was over $12Mill.....
so we have potentially knocked 10% off our debt in a year. That is great, steps in the right direction. It took a while to build up that debt so it will take a while to pay off
- BackFromUSA
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Re: Our Debt a year ago was over $12Mill.....
Actually the most significant financial figure is that we made a trading profit of around $200,000 despite a massive drop in attendance figures.
If our attendance figures were equal to our previous years then the figure would have been significantly more given our new stadium deal. Conversely if we had operated under the old stadium deal we would have had a million dollar or more loss.
It shows how important the stadium deal was to accumulating our debt and now how important the new deal is in working it off.
Buy memberships and bring opposition paying guests to the game and under the new deal we shall be out of debt in 5-7 years.
If our attendance figures were equal to our previous years then the figure would have been significantly more given our new stadium deal. Conversely if we had operated under the old stadium deal we would have had a million dollar or more loss.
It shows how important the stadium deal was to accumulating our debt and now how important the new deal is in working it off.
Buy memberships and bring opposition paying guests to the game and under the new deal we shall be out of debt in 5-7 years.
AwayInUSA no longer ... have based myself back in Melbourne for a decade of Saintsational Success (with regular trips back to the USA)
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- saintbrat
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Re: Our Debt a year ago was over $12Mill.....
The annual report for your perusal
AGM Tuesday 18th Dec at RSEA park
https://s.afl.com.au/staticfile/AFL%20T ... t-2018.pdf
http://www.saints.com.au/news/2018-11-2 ... -reporting
AGM Tuesday 18th Dec at RSEA park
https://s.afl.com.au/staticfile/AFL%20T ... t-2018.pdf
http://www.saints.com.au/news/2018-11-2 ... -reporting
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- skeptic
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Re: Our Debt a year ago was over $12Mill.....
I’m tempted to go this year... depending on work
Anyone have any good questions worth asking?
Anyone have any good questions worth asking?
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Re: Our Debt a year ago was over $12Mill.....
Our new elite facility is getting extended and debt is going down. Sounds pretty good to me. Hopefully the onfield turns around next year.
1ac46a38
- tedtheodorelogan2018
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Re: Our Debt a year ago was over $12Mill.....
Like. Club is turning the corner with this stuff.
Posters that have admitted they were wrong about Hanna's gastro and the club didn't create a cover story.
Total = 1.
Total = 1.
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Re: Our Debt a year ago was over $12Mill.....
Cool. AGM at our home. That’s a first!saintbrat wrote: ↑Sun 25 Nov 2018 12:40pm The annual report for your perusal
AGM Tuesday 18th Dec at RSEA park
https://s.afl.com.au/staticfile/AFL%20T ... t-2018.pdf
http://www.saints.com.au/news/2018-11-2 ... -reporting
We’ve never had good enough facilities to host an AGM
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Re: Our Debt a year ago was over $12Mill.....
was it open to public?saintspremiers wrote: ↑Sun 25 Nov 2018 5:21pmCool. AGM at our home. That’s a first!saintbrat wrote: ↑Sun 25 Nov 2018 12:40pm The annual report for your perusal
AGM Tuesday 18th Dec at RSEA park
https://s.afl.com.au/staticfile/AFL%20T ... t-2018.pdf
http://www.saints.com.au/news/2018-11-2 ... -reporting
We’ve never had good enough facilities to host an AGM
if so what is the capacity?
Seeya
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- bigred
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Re: Our Debt a year ago was over $12Mill.....
Need to be a member to attend.
If we had of had even average attendances this year we probably could have taken off 1-2M more.
On field counts for a lot. Another year like 2017 and we are cactus.
If we had of had even average attendances this year we probably could have taken off 1-2M more.
On field counts for a lot. Another year like 2017 and we are cactus.
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Re: Our Debt a year ago was over $12Mill.....
Did you mean 2018 red? You have got me confused now...….
- ausfatcat
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Re: Our Debt a year ago was over $12Mill.....
I am probably a bit different but I look at the directors attendance to see how committed they generally are very high attendance rate except for one
Liz Dawson only attended two meetings the next lowest was 7 out of 9, time for a new director.
6 mil increase in revenue (mainly from non football) is - good (probably grant money thou)
membership returns only slightly up - bad considering a better Etihad deal
14 mil in equity and 35 mil in assets - very very good largest it has ever been
Material Uncertainty Related to Going Concern
We draw attention to Note 1(b) in the financial statements, which indicates that, as at 31 October 2018, the Group’s current
liabilities exceeded its current assets by $10,287,306.
I don't think it has ever been anything else
note 1(b) is not included in the report
Liz Dawson only attended two meetings the next lowest was 7 out of 9, time for a new director.
6 mil increase in revenue (mainly from non football) is - good (probably grant money thou)
membership returns only slightly up - bad considering a better Etihad deal
14 mil in equity and 35 mil in assets - very very good largest it has ever been
Material Uncertainty Related to Going Concern
We draw attention to Note 1(b) in the financial statements, which indicates that, as at 31 October 2018, the Group’s current
liabilities exceeded its current assets by $10,287,306.
I don't think it has ever been anything else
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- bobmurray
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Re: Our Debt a year ago was over $12Mill.....
I thought it was hilarious.
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Re: Our Debt a year ago was over $12Mill.....
According to a Herald-Scum article today, our debt is currently over $12 million.
Here's a fun fact for you: The German word for "debt" is "Schuld" which is also the same word for "guilt".
Here's a fun fact for you: The German word for "debt" is "Schuld" which is also the same word for "guilt".
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Re: Our Debt a year ago was over $12Mill.....
These numbers are significantly bad and don't look like getting better. The additional investment in the football department , in fairness will take a few years to determine the value of, as well as the investment in the womens program , are areas of increased spending during a period of reducing revenue.
We are destined to be at the call and beckon of the AFL while they continue to fund the clubs existence, so things such as China, Cairns, Darwin, and anywhere else they want to grow the game will probably involve StKilda.
Increased revenue is required to turn this around, however that requires increased performance on field. Reducing crowd numbers, reducing memberships,, no Friday night games , likely to mean sponsors cough up less . This is a serious issue which comments like "we now have a great facility which will make us a destinations club" will not wall paper over the cracks. WINS and Finals are what makes clubs a destination club for top line players - Facilities and location will help split clubs if the previous are ticked by both.
On field I am far from confident about moving up the ladder next year from 16th, if that if true it will only make the financials look worse.
We are destined to be at the call and beckon of the AFL while they continue to fund the clubs existence, so things such as China, Cairns, Darwin, and anywhere else they want to grow the game will probably involve StKilda.
Increased revenue is required to turn this around, however that requires increased performance on field. Reducing crowd numbers, reducing memberships,, no Friday night games , likely to mean sponsors cough up less . This is a serious issue which comments like "we now have a great facility which will make us a destinations club" will not wall paper over the cracks. WINS and Finals are what makes clubs a destination club for top line players - Facilities and location will help split clubs if the previous are ticked by both.
On field I am far from confident about moving up the ladder next year from 16th, if that if true it will only make the financials look worse.
- saintbrat
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Re: Our Debt a year ago was over $12Mill.....
Iknow we have gov funding into RSEA park
but when do we get our " donation" from the Government-
and Pies had operating profit less than the saints
but when do we get our " donation" from the Government-
https://www.heraldsun.com.au/sport/afl/ ... 16b426e158The Dogs announced an amazing profit of $18.094 million this week, aided by the valuing of a parcel of land handed to the club by the state government in the precinct.
and Pies had operating profit less than the saints
The Pies turned around 2017’s net operating loss of $2,732,624 to record an official net operating profit of $112,052.
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- ausfatcat
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Re: Our Debt a year ago was over $12Mill.....
The club has more assets than debt's for the first time since I have been looking at the annual reports (15 years) that's a good thingolder saint wrote: ↑Thu 29 Nov 2018 6:45pm These numbers are significantly bad and don't look like getting better. The additional investment in the football department , in fairness will take a few years to determine the value of, as well as the investment in the womens program , are areas of increased spending during a period of reducing revenue.
Yep as are 15 other clubs really only 2 or 3 that aint in a similar positionolder saint wrote: ↑Thu 29 Nov 2018 6:45pmWe are destined to be at the call and beckon of the AFL while they continue to fund the clubs existence, so things such as China, Cairns, Darwin, and anywhere else they want to grow the game will probably involve StKilda.
quote="older saint" post_id=1769460 time=1543477504 user_id=11405]Increased revenue is required to turn this around, however that requires increased performance on field. Reducing crowd numbers, reducing memberships,, no Friday night games , likely to mean sponsors cough up less . This is a serious issue which comments like "we now have a great facility which will make us a destinations club" will not wall paper over the cracks. WINS and Finals are what makes clubs a destination club for top line players - Facilities and location will help split clubs if the previous are ticked by both. [/quote]
Agree but we also need non-football revenue to increase as well to match other clubs and not rely on just on field performance, not playing Friday night games will hurt a lot
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Re: Our Debt a year ago was over $12Mill.....
I reckon the Social Club at Moorabbin was rolled out horribly and completely missed an opportunity to generate money this year and particularly, over summer.
It currently is just a shiny pokie den with no restaurant (cafe is horrible and you can get better quality food at the Shell down the road). Also, there was zero effort put in by the club to make money for interstate games i.e. BBQ, sell merch, have non-playing players present, put something on for the kids etc.
What should've been done;
I'd approach it as 'bringing Acland Street to Moorabbin' by doing the following;
- Make it a lively place that locals want to go to as the only nearby bar/pub is the Sandbelt which is awful.
- Have good food (A full commercial kitchen is not even being used), get involved with some local brewhouses (2 Brothers in Moorabbin comes to mine) for the craft beer scene
- Tap into our bayside-peninsula heartland wine regions
- Have good music where people can have a boogie on a Fri/Sat night, offer the space to local community groups during the day (elderly and disabled activity groups)
get the Sunday sessions happening
- Plan for a bigger picture music festival (Sandringham are currently applying to do one)
- Make it known publicly as to when the Saints train. There is no such thing as a 'closed' session as they are in a public space therefore encourage Sainters to get down to training.
Basically do things that locals want to come spend their money at St Kilda FC irrespective of whether they follow the Saints or not. That IMO is where the Saints could really get back to being relevant and a true community group. Rather than sitting their with our hand out and 'making' money at the expense of problem gamblers whilst doing nothing positive.
It currently is just a shiny pokie den with no restaurant (cafe is horrible and you can get better quality food at the Shell down the road). Also, there was zero effort put in by the club to make money for interstate games i.e. BBQ, sell merch, have non-playing players present, put something on for the kids etc.
What should've been done;
I'd approach it as 'bringing Acland Street to Moorabbin' by doing the following;
- Make it a lively place that locals want to go to as the only nearby bar/pub is the Sandbelt which is awful.
- Have good food (A full commercial kitchen is not even being used), get involved with some local brewhouses (2 Brothers in Moorabbin comes to mine) for the craft beer scene
- Tap into our bayside-peninsula heartland wine regions
- Have good music where people can have a boogie on a Fri/Sat night, offer the space to local community groups during the day (elderly and disabled activity groups)
get the Sunday sessions happening
- Plan for a bigger picture music festival (Sandringham are currently applying to do one)
- Make it known publicly as to when the Saints train. There is no such thing as a 'closed' session as they are in a public space therefore encourage Sainters to get down to training.
Basically do things that locals want to come spend their money at St Kilda FC irrespective of whether they follow the Saints or not. That IMO is where the Saints could really get back to being relevant and a true community group. Rather than sitting their with our hand out and 'making' money at the expense of problem gamblers whilst doing nothing positive.
- Enrico_Misso
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Re: Our Debt a year ago was over $12Mill.....
Totally agree outside66.
I remember in the 80s/90s on a Thursday night you could watch training and there would be the announcement of the team as well as the meat tray spin the wheel raffle.
When the Bistro was running on a Thursday you could get a decent cheap meal and there would be a MC (like Beva) who would interview players to give them media experience, some Q and A, a trivia comp by table, and an interview with a past player.
It was good fun, the place was well populated and the bar did a good trade.
At least we are back at Moorabbin.
But unless feeding money into a pokie machine presses you buttons, there is nothing to lure people there apart from just watching training.
I remember in the 80s/90s on a Thursday night you could watch training and there would be the announcement of the team as well as the meat tray spin the wheel raffle.
When the Bistro was running on a Thursday you could get a decent cheap meal and there would be a MC (like Beva) who would interview players to give them media experience, some Q and A, a trivia comp by table, and an interview with a past player.
It was good fun, the place was well populated and the bar did a good trade.
At least we are back at Moorabbin.
But unless feeding money into a pokie machine presses you buttons, there is nothing to lure people there apart from just watching training.
The rest of Australia can wander mask-free, socialise, eat out, no curfews, no zoning, no police rings of steel, no illogical inconsistent rules.
They can even WATCH LIVE FOOTY!
They can even WATCH LIVE FOOTY!