LFC 2013 Accounts Submitted to Companies House

[bonesman]

http://www.scribd.com/doc/210342664/LFC-2013-Accounts-Submitted-to-Companies-House

 

Published by Echo Newsroom

 

If someone could ocpy and paste them that would be great..

[Trumo]

It's pretty much what I expected to see. Turnover above £200m, very little revenue from the Europa League, nothing from the abortive domestic cup runs, a huge increase in commercial revenue and the club taking a financial hit from flogging players at an (accounting) loss, all combining to produce a loss.

 

Boosting matchday revenue and increasing income from the stadium is imperative though because commercial revenue is almost half the club's total revenue at the minute. Ideally, you want as close to an even split between the 3 main revenue sources (matchday, media and commercial) so you aren't overly reliant on any one of them.

[Cardie]

Bearing in mind those results are 12/18 months out of date now I think.

 

[PestiRed]

With exception of match day, these revenue numbers are ok. CL would deliver a good boost.

 

Would like to see how these will be adjusted in terms of what is relevant to FFP

[xerxes]

Decent figures.

 

The need to invest some of this commercial windfall income into enhanced stadium provision becomes increasingly pressing.

[Guest Numero Veinticinco]

It's going to be pretty difficult for some to spin that into a negative. I'm sure they'll give it a small go at some point, but it'll be hard. Bank debt reduced to 45m (which is part of the 120m rolling credit facility they've mentioned before), which has been reduced by around £20m in this financial year alone. That might have gone down more by now, but we won't find that out until next year.

 

They're still putting quite a bit of money into the club in the way of interest free loans - the smart way to put money into the club - which have been used to pay some bank debt (around 10m) and H+G Stadium debt (of around 40m). My guess is that'll be converted into equity at some point. Obviously, they're not skimming money off the club they're putting it in. With a loss of another 50m this year, maybe it's time to stop asking things like 'where's the donut money' or making daft claims that they're taking the profits from the increased revenue (some seem to think 'increased revenue' is some kind of insult).

 

Doesn't look like the wage bill has seen anything like the size of drop some had been talking about, either. From everything I can extrapolate from these accounts, they're not looking for a quick sale, they're looking to maximise the value of the asset, make it debt free over a number of years, raise revenue of a number of years (including CL and associated sponsorship hikes) and then take money out of it after that, or sell it after that. Good business practice, in my opinion.

 

Debt down, revenues up. Good thing. Owners putting money in not taking it out. Good thing. Next season we'll be looking to turn that loss into a profit, no doubt about it. Over the next two years, it'll likely look even healthier. Decent job off the field. Decent job on the field. More money for Rodgers this window required, and furthering the stadium stuff. Then, despite some crude mistakes during their time here, I'd say they've done a decent job. Considering they inherited a team that was fairly poor, with a dreadful manager, and a club that was absolutely on its arse behind the scenes, I think the fact that we're in a much, much better place now is testament to them doing a fairly good job.

[The Woolster]

I think they might actually be masking the drop in wages by putting in some of the pay offs in there.

 

Which is clever, as the Premier League FFP rules limit wages increases to £4m from the new TV money, I think they inflated last seasons to get around that.

 

Not 100% on that yet though, still having a look through.

[Bobby Hundreds]

I saw the headline in the guardian saying liverpool announce 50 million pound losses.

[AL66GOLF]

Total Directors Emoluments (Salaries & Other Benefits) £1,381,000

Highest paid Director £1,035,000

 

I wonder who that was and how can he survive on just over a million

[AL66GOLF]

The Wage bill for 2012 (10 months) was £115.9m or £139m annualised

The Wage bill for 2013 (12 months) was £131.6

Wage bill down £7.4m year on year

[Guest Numero Veinticinco]

The Wage bill for 2012 (10 months) was £115.9m or £139m annualised

The Wage bill for 2013 (12 months) was £131.6

Wage bill down £7.4m year on year

Where are you getting that 131.6 from?

[AL66GOLF]

Where are you getting that 131.6 from?

Exclude Pension Contributions

[Guest Numero Veinticinco]

Exclude Pension Contributions

I still don't understand how you're getting the 7m difference, Al? It doesn't seem to tell us directly the players wages, but I assume you're going off the staff costs?

 

Last year: 131 (109 for the 10 months)

This year: 130

 

I thought our pension contributions have gone down?

[redfromtubebar]

A lot of noise from David Conn at the Guardian speculating that we could fall foul of the new FFP rules...

[Gnasher]

A lot of noise from David Conn at the Guardian speculating that we could fall foul of the new FFP rules...

Same here,

http://www.mirror.co.uk/sport/football/news/liverpools-latest-accounts-good-indifferent-3207256

 

it appears we will not be allowed to buy new players, but we should just be allowed into champs league if we get there.

[Guest Numero Veinticinco]

Nah. Losses on the accounts and what's counted by FFP are totally different things. Should be nothing to worry about. Talk of being banned from Europe and/or not being able to buy players seems like scaremongering to me.

[markcd]

Barrett in The Times saying it's bollocks. Uefa won't even audit us for this year as we haven't been playing in a UEFA competition.

[Guest Numero Veinticinco]

Barrett in The Times saying it's bollocks. Uefa won't even audit us for this year as we haven't been playing in a UEFA competition.

Yep. It's a load of scaremongering as far as I can tell.

[The Acolyte]

Talkshite were also going down the FFP line. Also saying how the likes of PSG and Real Madrid really hate it and will try anything to stop it.

[jamespp]

Barrett in The Times saying it's bollocks. Uefa won't even audit us for this year as we haven't been playing in a UEFA competition.

but does it still mean well have to be tight with money in the coming summer? I'm not expert on finances but can't see how we can just spend say 40m on a few good players, If we qualify for the champions league well end not bringing any top players in anyway which was the whole point

[markcd]

but does it still mean well have to be tight with money in the coming summer? I'm not expert on finances but can't see how we can just spend say 40m on a few good players, If we qualify for the champions league well end not bringing any top players in anyway which was the whole point

 

 

Liverpool are not at risk of being prevented from playing in Europe next season despite potentially falling foul of Financial Fair Play (FFP) regulations by posting losses totalling £90 million in the past two financial years.

The FFP regulations, outlined by Uefa, restrict clubs to aggregate losses of £37.2 million for the 2011-12 and 2012-13 seasons as European football’s governing body tries to improve the financial health of the game.

Although Liverpool are unlikely to fall in line with these parameters, even after costs such as youth development, infrastructure, community projects and the wages of any player signed before July 2010 are offset against their losses, there is no possibility of them being subjected to any sanctions should they qualify for either the Champions League or Europa League.

Uefa is looking into the accounts of 76 clubs who could fall foul of FFP regulations, but the scrutiny applies only to those who have been involved in European competition this season, which Liverpool have not.

Second in the Barclays Premier League, Liverpool expect their situation to improve significantly by the time they deliver their next annual financial report. With an expected increase in television revenue of about £25 million and the proceeds from several lucrative commercial deals set to be included, club officials are increasingly confident of putting recent economic difficulties behind them.

Yesterday’s announcement that Liverpool had recorded a £50 million loss for the financial year to May 31, 2013 did not prevent an upbeat assessment from Ian Ayre, the club’s managing director, who said that the results, which also featured a reduction of £19.9 million in bank debt, “demonstrate the financial health of the club”.

[jamespp]

I didn't say be banned or sanctioned, it's no good all these new commercial deals next year if its going to be spent bringing people in and back to where we started

[magicrat]

but does it still mean well have to be tight with money in the coming summer? I'm not expert on finances but can't see how we can just spend say 40m on a few good players, If we qualify for the champions league well end not bringing any top players in anyway which was the whole point

Spending on players doesn't directly impact the P+L. They go onto the balance sheet as assets and get amortised over a number of years. If you subseqeuntly sell them for a loss then that has to be crystalised . The fact that they have reduced our gearing suggests we are in a positioning ourselves to buy players in the summer. The fact that we were ready to splash out last month on that Ukrainian bloke is a good indicator as to the owners intentions.

[xerxes]

I don’t think that FFP will ever have real bite, so we should have nothing to worry about there.

 

Wages at 64% of turnover in the mad world of football is tolerable.

 

The gross debt of £114m combining bank debt with FSG loans, £26m up year on year, is one to watch.

[The Acolyte]

Evertons accounts were mentioned on talkshite. Borrowed another 10M off the banks. Nice

 

Can't find it on their website though