$4.1 million profit for 2019

[one-eyed]

2019 financials:

Profit: $4,112,768

Revenue: $92m

Net assets: $35m

In  2019  we  achieved  record  levels  of  sponsorship,  membership  and  match  day  revenues. 

Source: Email of Club's financial report.

[Rampsation]

Was there a cash in bank or cash reserves number?

[Tigeritis™©®]

Only 4 mill?

Is that good? Well I know it’s better than we used to be.
Does anyone know how it compares to other clubs?

[Rampsation]

Depends if AFL premiership prizemoney of $1 million is included in the number. If yes its a good result. If no and the $1 million is in next years accounts then its a great result. Just my opinion.

[WilliamPowell]

Depends if AFL premiership prizemoney of $1 million is included in the number. If yes its a good result. If no and the $1 million is in next years accounts then its a great result. Just my opinion.

The GF prize money is included, has to be as it was earned on the financial year just ended. So under accounting standards it must be recorded.

From the GF as I've said previously any merch ordered but not delivered prior to 31 October cannot go in this year's figures, it must be held over and recorded as next year's revenue

[taztiger4]

Depends if AFL premiership prizemoney of $1 million is included in the number. If yes its a good result. If no and the $1 million is in next years accounts then its a great result. Just my opinion.

The GF prize money is included, has to be as it was earned on the financial year just ended. So under accounting standards it must be recorded.

From the GF as I've said previously any merch ordered but not delivered prior to 31 October cannot go in this year's figures, it must be held over and recorded as next year's revenue

Hi WP

Can you please explain these 2 items,they stand out as considerable $ for 2019 & zilch in 2018

NON-CURRENT ASSETS
Right-of-use assets 9,044,800

and

NON-CURRENT LIABILITIES
Lease liabilities 8,927,110 -

[Rampsation]

how also is it possible to increase cash reserves like we did from one year to the next. last year it was like $13 million we made $4 million and cash reserves have hit the high 20 millions.

[WilliamPowell]

Hi WP

Can you please explain these 2 items,they stand out as considerable $ for 2019 & zilch in 2018

NON-CURRENT ASSETS
Right-of-use assets 9,044,800

and

NON-CURRENT LIABILITIES
Lease liabilities 8,927,110 -

A new accounting standard came in Jan 2019 around how operational leases are recorded

What it means is you are recording the right to use an asset over the life of a lease.

The non current asset amount is the value of the asset you have received under the original lease

The non current liability amount is in simple terms the value the liability you have to pay over the life of the lease

Perviously operational leases didn't get recorded this way. Finance leases were but not operations

This website gives a more thorough explanation

https://www.accountingtools.com/articles/2017/11/26/right-of-use-asset

So Taz,  the 2 items you've highlighted are linked

Without seeing the full financials which would have notes explaining what we have recorded I don't think it right to speculate on what is covered

But I would think that it would be reasonable to think the Aligned Leisure business, Wantirna Club impact here.

I am waiting to receive my copy of the full financials to get more info

[WilliamPowell]

how also is it possible to increase cash reserves like we did from one year to the next. last year it was like $13 million we made $4 million and cash reserves have hit the high 20 millions.

Easily

We made a $ 4mil profit this does not mean or necessarily equals cash. They are totally seperate. Remember a number of expense items on the Income Statement are non cash....

Look at the increases across all areas in the Cash Flow statement

Receipts from Customers have increased by $14 Mil so that is straight cash in

Our payments out on ord activities is similar to last year. Our cash put on investments this year are less

[Rampsation]

ok cheers

[taztiger4]

Hi WP

Can you please explain these 2 items,they stand out as considerable $ for 2019 & zilch in 2018

NON-CURRENT ASSETS
Right-of-use assets 9,044,800

and

NON-CURRENT LIABILITIES
Lease liabilities 8,927,110 -

A new accounting standard came in Jan 2019 around how operational leases are recorded

What it means is you are recording the right to use an asset over the life of a lease.

The non current asset amount is the value of the asset you have received under the original lease

The non current liability amount is in simple terms the value the liability you have to pay over the life of the lease

Perviously operational leases didn't get recorded this way. Finance leases were but not operations

This website gives a more thorough explanation

https://www.accountingtools.com/articles/2017/11/26/right-of-use-asset

So Taz,  the 2 items you've highlighted are linked

Without seeing the full financials which would have notes explaining what we have recorded I don't think it right to speculate on what is covered

But I would think that it would be reasonable to think the Aligned Leisure business, Wantirna Club impact here.

I am waiting to receive my copy of the full financials to get more info

Thanks, appreciate the explanation

[one-eyed]

Essendon, Hawthorn and Richmond Revenues since 2008:


https://twitter.com/footyindustryAU/status/1197148461453336576

[Dougeytherichmondfan]

So, turns out winning flags is a smart business model if you're a football club ....