QPR Finances - The latest accounts

[Macmoish]

For Year ending May 31, 2022

If having problems clicking on link - Just click and top one are the accounts
find-and-update.company-information.service.gov.uk/company/03197756/filing-history


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[blatantfowl]

[harr]

Wasn’t the training ground about 10 million in these figures though?

[blatantfowl]

According to a tweet from this guy 8.5m on training ground, 2.8m on players. We raised £250k in sales

[surreychad]

Feb 28, 2023 9:40:13 GMT harr said:

Wasn’t the training ground about 10 million in these figures though?

I thought the training ground was covered by the bond, so would that show in the accounts? 

[rickyqpr]

IMHO it is now that the CEO and Finance Director should communicate.
That is what happens in the real world - especially when the owners have asked the fans to contribute towards the new training ground, the Stan Bowles Stand and any future new ground.
Although the bond is guaranteed, it still should be adequately explained how it is that we have lost so much, what it means to FFP and what we are going to do about it.
The number of players has substantially increased, whereas I thought we were doing the opposite.
As the figures stand, we have zero chance to remain within FFP with 3 months of this year to go.
As an accountant in a previous life, it irritates me that we make reporting such a black art.
It worries the fans, and they have enough to worry about - so QPR please supply the detailed information or provide a commentary.

[Macmoish]

Think the season by season comparison is perhaps most interesting

/photo/1

[rickyqpr]

www.westlondonsport.com/qpr/qpr-gamble-did-not-pay-off-ceo-hoos-explains-worrying-25m-annual-loss
Hoos tells us what we already know regarding the accounts.....
Perhaps he could fill in some of the gaps, like how much of the £24m counts towards FFP and what it means when next year the Eze money drops out.
But if the reason the figures are so bad is because 'we went for promotion, and it didn't work' then what have these expensive loans done to this year's accounts?
We have not bought any players in the last two windows and kicked the Richards signing down the road to next season.
But how will it all translate?
Perhaps, an explanation of the increased headcount would help. for example, is the headcount increase due to the academy? If so, that would be outside of FFP.
It would seem that we are in the mire and the club does not want other clubs to be aware and force a fire sale in the Summer.
I would not be at all surprised if Lee Hoos jumps ship beforehand - possibly to another football club.
Hard to see that this season will be very different to last season - although at least we do not have to pay for Harlington, but will have to take a write down charge for Heston (depreciation).

[Macmoish]

If we cant afford it; QPR shouldnt have taken a gamble.

And if we ARE going to gamble; why not gamble 50 million or a hundred million.

Inane. Want QPR well run.

And just to add: Obviously anything Lee Hoos does is Board approved - even more I presume that Les Ferdinand

[rickyqpr]

Mar 1, 2023 17:31:27 GMT Macmoish said:

If we cant afford it; QPR shouldnt have taken a gamble.

And if we ARE going to gamble; why not gamble 50 million or a hundred million.

Inane. Want QPR well run.

And just to add: Obviously anything Lee Hoos does is Board approved - even more I presume that Les Ferdinand

You would never run a proper business that way for sure.
I thought that we had put those foolish days behind us, but apparently not.
I guess pressure from fans gets to them, but at least it explains why we never signed a striker in the recent window  - or anyone for that matter - and were keen to loan out anyone with a pulse.

[nomar]

For a few days, at least, the 'sign a striker ffs' and 'the board has no ambition if they don't sign anyone' brigade on twitter have been conspicuous by their absence.

So, there is that going for it.....

[Marc]

Mar 2, 2023 17:41:29 GMT nomar said:

For a few days, at least, the 'sign a striker ffs' and 'the board has no ambition if they don't sign anyone' brigade on twitter have been conspicuous by their absence.

So, there is that going for it.....

Yep, it's gone from sack Les because he won't spaff millions on a striker to sack Les because the club is so much in debt.

[hitmanrangers]

As someone who works in finance, those accounts are worse than first feared but not too unexpected. Strip out the Eze profit from 2021 and losses for both years are broadly similar. With no sales in 2022/23 season, surely we are screwed for FPP as we make another loss of c£20M+!!! Unless of course we can commit to sell someone before end of May this year.
None of the training ground spend would be in the loss as that all goes to the balance sheet, but clearly the investment in new players using the Eze money has been much higher than we all thought - nearly £8m.
Don't understand the higher employee numbers, must be including academy nuumbers in there.
Also £600K increase to directors pay won't go down well!
We are a bad place financially, which must be getting even worse this financial year! The board have a lot of questions to answer with these numbers!

[nomar]

Mar 2, 2023 21:27:06 GMT hitmanrangers said:

As someone who works in finance, those accounts are worse than first feared but not too unexpected. Strip out the Eze profit from 2021 and losses for both years are broadly similar. With no sales in 2022/23 season, surely we are screwed for FPP as we make another loss of c£20M+!!! Unless of course we can commit to sell someone before end of May this year.
None of the training ground spend would be in the loss as that all goes to the balance sheet, but clearly the investment in new players using the Eze money has been much higher than we all thought - nearly £8m.
Don't understand the higher employee numbers, must be including academy nuumbers in there.
Also £600K increase to directors pay won't go down well!
We are a bad place financially, which must be getting even worse this financial year! The board have a lot of questions to answer with these numbers!

It will be even more interesting next season too, when we are in League 1.