strettonram Posted April 21, 2012 Share Posted April 21, 2012 Have just registered with the forum. Accounts y/e 30.6.2011 and Mr Glicks comments in the Telegraph dated 31st March 2012. How on earth has the Club lost £7m ? My guess is the holding company has issued a Management Charge of about £7 million to the P&L which has not yet been taken. I wonder whether this sum has been subordinated into a new loan ? Glick admits the Americans are " lending" the Club £7m interest-free and the Balance Sheet debt has increased from £19m to £26m - this is the same amount. He also says they will " lend" the Club a further £6m this current financial year. So the debt will be at least £32m by 01/07/12 ? Could this be right ? I am not an Accountant but I have worked in corporate for a number of years Link to comment Share on other sites More sharing options...
CumbrianRam Posted April 21, 2012 Share Posted April 21, 2012 Link to comment Share on other sites More sharing options...
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