TRFC £14.3 MILLION LOSSES

MATERIAL UNCERTAINTY RELATING TO GOING CONCERN

We draw your attention to note 1 to the financial statements concerning the Group’s ability to continue as a going concern. In order to continue operations for the next 12 months the Group is dependent upon raising additional finance to cover the projected shortfall of £4.6m in season 2018/19 and a further £3.0m in season 2019/20. Such amounts are inherently dependent on a number of key variables, including the achievement of forecast football performance and player trading. Should certain inputs to the cash flow not be achieved as forecast, the projected shortfall could be materially higher than that detailed above. Failure to secure additional funding would result in the existence of a material uncertainty which may cast significant doubt as to the Group’s ability to continue as a going concern. The financial statements do not include the adjustments that would result if the Group was unable to continue as a going concern. Our opinion is not modified in respect of this matter.

This is priceless. Basically their projections for rest of the season and next year are entirely based on what Sevco believe they can get for their dross players (i'd love to know what they have down as an expected value for Tavernier and Morelos, i'm guessing around £15-20 million which they will be lucky to get half of) as well as football performances (ie qualifying for the Europa league again and winning games in it)

And they still expect a £3million loss in 2019/20. And that's before the whole lack of shirt sales and incoming law suits from Ashley and possibly Elite.

Celtic not qualifying for the CL will hurt their accounts for next year as well, so haha.

Their entire financial model is, in my opinion, totally worthless and based on exaggerated presumptions.

They will be incredibly lucky if they avoid administration over the next season or so.
 
The Galway shawl said:
Take care mo chara HH
Click to expand...
CalumHH said:
MATERIAL UNCERTAINTY RELATING TO GOING CONCERN

We draw your attention to note 1 to the financial statements concerning the Group’s ability to continue as a going concern. In order to continue operations for the next 12 months the Group is dependent upon raising additional finance to cover the projected shortfall of £4.6m in season 2018/19 and a further £3.0m in season 2019/20. Such amounts are inherently dependent on a number of key variables, including the achievement of forecast football performance and player trading. Should certain inputs to the cash flow not be achieved as forecast, the projected shortfall could be materially higher than that detailed above. Failure to secure additional funding would result in the existence of a material uncertainty which may cast significant doubt as to the Group’s ability to continue as a going concern. The financial statements do not include the adjustments that would result if the Group was unable to continue as a going concern. Our opinion is not modified in respect of this matter.

This is priceless. Basically their projections for rest of the season and next year are entirely based on what Sevco believe they can get for their dross players (i'd love to know what they have down as an expected value for Tavernier and Morelos, i'm guessing around £15-20 million which they will be lucky to get half of) as well as football performances (ie qualifying for the Europa league again and winning games in it)

And they still expect a £3million loss in 2019/20. And that's before the whole lack of shirt sales and incoming law suits from Ashley and possibly Elite.

Celtic not qualifying for the CL will hurt their accounts for next year as well, so haha.

Their entire financial model is, in my opinion, totally worthless and based on exaggerated presumptions.

They will be incredibly lucky if they avoid administration over the next season or so.
Click to expand...
excellent calum! ye couldnae make this shit up! and the gullibillies go all hook line and sinker!!!
 
They will be shut by tea time.

Whoever is putting the money into them will have known that these results would be posted and next year the figures will be worse, depending upon how much they make in the EL. There is no doubt in my mind, that unless the money guy is prepared to keep pissing away his cash, then Morelos and Tav will be sold or they are fucked.

There are no other players who could be sold for anywhere near what they need. We do them at Mordor and they will have to sell. If they get through their EL shit group then they might struggle on, but if they don’t then it’s cutting their sash accordingly.,

Gerrard is talking about bringing in better quality than the shit they have bought. Where he expects that money to come from is anybody’s guess unless he sells. And he only has two players that could bring in anything,

Happy days.
 
Imagine that your business sustainability depended on selling 'asset' like More-or-less and Tav. ? The creditors / suppliers would be banging on the door wanting their money .
Unfortunately the disposable assets have already been grabbed by The Close Bros.
 
Millsy said:
Imagine that your business sustainability depended on selling 'asset' like More-or-less and Tav. ? The creditors / suppliers would be banging on the door wanting their money .
Unfortunately the disposable assets have already been grabbed by The Close Bros.
Click to expand...

Unless the financial backers are prepared to keep putting in money then that’s the only way.

They cannot get away with spending what they don’t earn. There are rules, the SFA officials might let them away with it for a while, but, UEFA can’t.

With these figures showing a turnover as low as it is, they have a decision to make. Or, be forced to make.
 
CalumHH said:
MATERIAL UNCERTAINTY RELATING TO GOING CONCERN

We draw your attention to note 1 to the financial statements concerning the Group’s ability to continue as a going concern. In order to continue operations for the next 12 months the Group is dependent upon raising additional finance to cover the projected shortfall of £4.6m in season 2018/19 and a further £3.0m in season 2019/20. Such amounts are inherently dependent on a number of key variables, including the achievement of forecast football performance and player trading. Should certain inputs to the cash flow not be achieved as forecast, the projected shortfall could be materially higher than that detailed above. Failure to secure additional funding would result in the existence of a material uncertainty which may cast significant doubt as to the Group’s ability to continue as a going concern. The financial statements do not include the adjustments that would result if the Group was unable to continue as a going concern. Our opinion is not modified in respect of this matter.

This is priceless. Basically their projections for rest of the season and next year are entirely based on what Sevco believe they can get for their dross players (i'd love to know what they have down as an expected value for Tavernier and Morelos, i'm guessing around £15-20 million which they will be lucky to get half of) as well as football performances (ie qualifying for the Europa league again and winning games in it)

And they still expect a £3million loss in 2019/20. And that's before the whole lack of shirt sales and incoming law suits from Ashley and possibly Elite.

Celtic not qualifying for the CL will hurt their accounts for next year as well, so haha.

Their entire financial model is, in my opinion, totally worthless and based on exaggerated presumptions.

They will be incredibly lucky if they avoid administration over the next season or so.
Click to expand...
 
gerrard is talking about buying players in january to replace the duds that he says are letting him down at present thats priceless where the hell does he think the money is coming from i think reality will set in very soon if not already that he has joined a busted flush
 
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